[Apr-2024] The Best American Planning Association Study Guide for the FPC-Remote Exam
FPC-Remote certification guide Q&A from Training Expert TroytecDumps
NEW QUESTION # 41
An employee earns $1,000 weekly. his deductions are $174 for federal income tax, $62 for social security tax, and $14.50 for medicare tax. He is not supporting another family and has never been in arrears in his child support payments. What is the maximum child support payment that can be withheld from his wages?
- A. $500
- B. $600
- C. $500.18
- D. $449.70
Answer: D
NEW QUESTION # 42
When supplemental wages are paid at the same time as regular wages, how are withholding taxes computer?
- A. supplemental wages are not subject to withholding taxes
- B. withholding on supplemental wages is taxed separately
- C. withholding taxes are based on the total of the wages and supplemental wages
- D. supplemental wages are taxed at a different withholding rate
Answer: C
NEW QUESTION # 43
During thanksgiving week, a nonexempt employee was paid for the following hours:
sun- none
mon- 10 hours worked
tues- 10 hrs work
weds- 8 hr sicks day
thurs- 8 hr holiday
fri-8 hr vacation
sat- 8 hr work
How many overtime hours, if any, did the ee work?
- A. 0 hours
- B. 12 hours
- C. 4 hours
Answer: A
NEW QUESTION # 44
When must overtime be paid?
- A. as soon as practically possible
- B. with the next payroll
- C. each week
Answer: A
NEW QUESTION # 45
The owners of a company want to set up a retirement program for themselves, but do not want to make contributions on behalf of their employees. all of their employees are under age 30. What can they do?
- A. establish only a 401k plan that restricts eligibility to employees over age 30.
- B. establish only a 401k plan that restricts eligibility to employees over age 30, and set up a nonqualified deferred compensation plan.
- C. set up nonqualified deferred compensation plan only
- D. establish a 403b plan for all employees
Answer: C
NEW QUESTION # 46
Payroll documentation accomplishes all of the following goals EXCEPT:
- A. providing a reference tool
- B. simplifying training
- C. ensuring that procedures are followed
- D. ensuring uniformity
Answer: C
NEW QUESTION # 47
One of the options in an employee's cafeteria benefit plan is a dependent care flexible spending account. He earnmarked $100 per month to the account to pay for child care but spent only $1000 by the end of the plans grace period. At the end of the grace period, what happens to the $200 left in the account?
- A. the amount is forfeited
- B. it will be added to his taxable income
- C. he can use it to buy an additional benefits
- D. it will carry over to the next year
Answer: A
NEW QUESTION # 48
Actions that control the staff in order to protect the company against fraud include all of the following except:
- A. rotate assignemtns
- B. restrict system access
- C. physical payouts
- D. segregate job duties
Answer: C
NEW QUESTION # 49
All of the following regulate payments made by DD EXCEPT:
- A. local laws
- B. State laws
- C. consumer financial protection bureau
- D. NACHA
Answer: A
NEW QUESTION # 50
Privacy of employee info should be a top priority of the payroll manager, but not necessarily a top priority of the payroll staff.
- A. false
- B. true
Answer: A
NEW QUESTION # 51
What benefits can be provided in a section 125 cafeteria plan?
- A. medical insurance
- B. scholarships
- C. commuter vans
- D. discounts
Answer: A
NEW QUESTION # 52
A computerized payroll system can help a payroll dept accomplish all of the following tasks except:
- A. recognize changes in laws and regulations
- B. compliance w laws and regulations
- C. record retention
- D. producing timely, accurate paychecks
Answer: A
NEW QUESTION # 53
Under which type of plans are employee contributions subject to social security and medicare taxes?
- A. 457b only
- B. 401k only
- C. 403b only
- D. 401k, 403b, and 457b
Answer: D
NEW QUESTION # 54
Which of the following types of accumulators, which one accumulates values over a period of time?
- A. segment accumulator
- B. balance accumulator
- C. compunding accumulator
- D. composite accumulator
Answer: B
NEW QUESTION # 55
The federal minimum wage is used when figuring the amount to withhold for a creditor garnishment
- A. False
- B. TRUE
Answer: B
NEW QUESTION # 56
Internal control procedures include all of the following except:
- A. system interfaces
- B. account reconciliation
- C. rotation of duties
- D. segregating jobs
Answer: A
NEW QUESTION # 57
All of the following are payroll control procedures EXCEPT:
- A. external audits
- B. edits
- C. system selection
- D. security
Answer: C
NEW QUESTION # 58
In which type of account (asset, liability, expense or revenue) would each of the following entries appear?
- A. office furnitue
- B. employer cost of group term life insurance
- C. deposit of employer portion of social security tax and medicare tax
- D. mortgage on the addition to your building
- E. money in a payroll checking account
- F. purchase of computer paper
- G. a new payroll computer
- H. ss tax and medicare tax withheld but not deposited
- I. wages paid to employees
Answer: A,B,C,D,E,F,G,H,I
NEW QUESTION # 59
A semiweekly depositor that has a payroll tax liability of $50,000 from a Monday payroll must deposit the liability by:
- A. fri
- B. thurs
- C. tues
- D. weds
Answer: A
NEW QUESTION # 60
For a payment after the employee's death in the year of the death, what taxes, if any, will be withheld?
- A. federal income tax only
- B. both federal income and social security and medicare taxes
- C. no taxes will be withheld
- D. social security and medicare taxes only
Answer: D
NEW QUESTION # 61
which of the following plans applies only to employees of public schools, colleges and universities, and public charities?
- A. 401k
- B. 457b
- C. both b and c
- D. 403b
Answer: D
NEW QUESTION # 62
For her 10 years of service, an employee was given a gold necklace valued at $100. Which of the following is true?
- A. the gift is tax free
- B. only federal income tax should be withheld on the fair market value of the award
- C. only social security and medicare tax should be withheld on the fair market value of the award
- D. the gift must be included in her taxable compensation
Answer: A
NEW QUESTION # 63
How long should employers keep payroll records beyond legal requirements
- A. as long as the company needs the records
- B. 3 years
- C. 4 years
- D. 2 years
Answer: A
NEW QUESTION # 64
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The APA FPC-Remote exam covers a range of topics, including payroll calculations, payroll processing, payroll taxes, employee benefits, and compliance. It is a comprehensive exam that tests the candidate's knowledge across all aspects of payroll. FPC-Remote exam is designed for individuals who are responsible for payroll processing, and those who want to acquire the skills and knowledge required to become a payroll professional. FPC-Remote exam is available as a computer-based exam and can be taken at any time at an approved testing center.
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