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FPC Exam Fundamental Payroll Exam Questions and Answers (Latest Update 2025)
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FPC Exam Fundamental Payroll Exam Questions and Answers (Latest Update 2025)
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FPC Exam Fundamental Payroll ExamQuestions and Answers (Latest Update
2025)
668-W - Correct Answer ✅ Notice of Levy on Wages,
Salary, and Other Income
1096 - Correct Answer ✅ Annual Summary and Transmittal
of U.S. Information Returns
Under the FLSA how old must a minor be to be employed? -
Correct Answer ✅ 14
What is the FUTA tax rate? - Correct Answer ✅ 6.0%
On form 941, the employer reports - Correct Answer ✅
Social Security Wages
What is the formula for calculating an employees net pay? -
Correct Answer ✅ Gross pay-deductions for taxes- other
deductions
,FPC Exam Fundamental Payroll Exam
Questions and Answers (Latest Update
2025)
Which plan discriminates in favor of highly compensated
employees? - Correct Answer ✅ Nonqualified deferred
compensation plans
What is the federal minimum wage per hour on January 1,
2018? - Correct Answer ✅ $7.25
What law determines time limits with which employees must
be paid after wages are earned? - Correct Answer ✅ State
Laws
Cafeteria plans are authorized by what internal revenue code
section? - Correct Answer ✅ 125
The direct deposit data sent to the bank after payroll
processing is an example of - Correct Answer ✅ Interface
What taxes, if any, must be withheld from payments to an
independent contractor who provided a tin? - Correct
Answer ✅ No taxes are withheld
, FPC Exam Fundamental Payroll Exam
Questions and Answers (Latest Update
2025)
An external audit: - Correct Answer ✅ Allows an objective
assessment of the financial statements.
Employees' privacy rights are governed by all of the following
except: - Correct Answer ✅ Local Legislation
Under the FLSA, what basis is used to determine whether a
non-exempt employee is to be paid overtime? - Correct
Answer ✅ Hours worked in a work week
Overtime payments are included in the calculation of what
tax, if any? - Correct Answer ✅ They are included in all tax
calculations
What is the 2018 wage base for social security tax? - Correct
Answer ✅ $128,400.00
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