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PAYROLL FUNDAMENTALS EXAM BANK 2024 | ACTUAL EXAM VERSION WITH 800+ QUESTIONS AND ANSWERS AND A STUDY GUIDE | EXPERT VERIFED FOR GUARANTEED PASS | LATEST UPDATE Which of the following regulations is governed by both the state and the federal government$24.49
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PAYROLL FUNDAMENTALS EXAM BANK 2024 | ACTUAL EXAM VERSION WITH 800+ QUESTIONS AND ANSWERS AND A STUDY GUIDE | EXPERT VERIFED FOR GUARANTEED PASS | LATEST UPDATE Which of the following regulations is governed by both the state and the federal government
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PAYROLL FUNDAMENTALS
Institution
PAYROLL FUNDAMENTALS
PAYROLL FUNDAMENTALS EXAM BANK 2024 | ACTUAL
EXAM VERSION WITH 800+ QUESTIONS AND ANSWERS
AND A STUDY GUIDE | EXPERT VERIFED FOR
GUARANTEED PASS | LATEST UPDATE
Which of the following regulations is governed by both the state and the federal governments?
PAYROLL FUNDAMENTALS EXAM BANK 2024 ...
PAYROLL FUNDAMENTALS EXAM BANK 2024 | ACTUAL
EXAM VERSION WITH 800+ QUESTIONS AND ANSWERS
AND A STUDY GUIDE | EXPERT VERIFED FOR
GUARANTEED PASS | LATEST UPDATE
Which of the following regulations is governed by both the state and the federal governments?
1 Method of payment
2 Final pay to a terminated employee
3 Exempt/nonexempt status
4 Breaks - CORRECT ANSWER-3 (Both federal and state wage and hour laws govern minimum wage,
overtime and an employee's exempt status.)
Which of the following amounts are included in the calculation of an employee's regular rate of pay?
1 Pay for hours not worked
2 Shift premiums
3 Employer benefit plan contributions
4 De minimis holiday gifts - CORRECT ANSWER-2 (The FLSA defines regular rate of pay as the total
regular pay for all hours work divided by the hours worked in the workweek. The FLSA exempts the
following types of pay from the regular rate of pay - gifts, paid time off, reimbursed expenses,
discretionary bonuses, benefit plan contributions, and others.)
For more information, refer to Module 1, Lesson 4
All of the following items are covered by the Fair Labor Standards Act EXCEPT:
1 defining equal pay for equal work.
2 defining when escheat laws apply.
3 setting child labor restrictions.
4 setting the minimum age for work. - CORRECT ANSWER-2 (The FLSA regulates overtime, minimum
wage, child labor, and equal pay.)
For more information, refer to Module 1, Lesson 4
Under the FLSA, an employee under the age of 20 can be paid the opportunity wage for a maximum of:
,1. 30 calendar days.
2. 60 calendar days.
3. 90 calendar days.
4. 120 calendar days. - CORRECT ANSWER-3 (Under the FLSA, an employee under the age of 20 can be
paid the opportunity wage of $4.25 per hour for a maximum of 90 calendar days.)
RATIONALE
For more information, refer to Module 1, Lesson 4
Under the FLSA, when a nonexempt employee receives a retroactive pay increase, over what period of
time, if any, will the new pay rate impact the employee's overtime premium?
• The entire period of the retroactive increase
b. Only the current workweek
c. Only the current pay period
d. It does not have to be considered in the overtime premium - CORRECT ANSWER-1 (Under the FLSA,
when a nonexempt employee receives a retroactive pay increase, the new pay rate impacts the
employee's overtime premium for the entire period of the retroactive increase.)
SSN stands for - CORRECT ANSWER-Social Security Number
What does an I-9 Form stands for? - CORRECT ANSWER-The Employment Eligibility Verification Form
What is the Employement Eligibility Verication Form code? - CORRECT ANSWER-I-9
What does the Employment Verification Form do? - CORRECT ANSWER-This proves that the employee
can work in the United States.
What does the I-9 form do? - CORRECT ANSWER-This proves that the employee can work in the United
States.
What does a W-4 form stands for? - CORRECT ANSWER-The Employee's Witholding Allowance
Certificate
,What is the code form for The Employee's Witholding Allowance Certificate? - CORRECT ANSWER-W-4
What does the W-4 form do? - CORRECT ANSWER-It is used to calculate the federal income taxeach
emloyee owes each pay period. These taxes are subtracted from each paycheck
What does the Employee's Withholding Allance Certificate do? - CORRECT ANSWER-It is used to
calculate the federal income taxeach emloyee owes each pay period. These taxes are subtracted from
each paycheck
Do all states have State taxes? - CORRECT ANSWER-NO
Employees who work in a state with a State Income Tax may have to fill out another form ? - CORRECT
ANSWER-Yes, another W-4 but for the State Witholding Allowance Certificate.
Does depending where the employess work and live, they may be asked to fill out form for local, county,
or city income tax withholdong. - CORRECT ANSWER-Yes
The employee's SSN sets up an account for the employee with the ________? - CORRECT ANSWER-SSA
Social Security Administration
Each year the employer (The BOSS)reports wages that are recorded in the account at SSA. - CORRECT
ANSWER-TRUE
Each month the employer (The BOSS)reports wages that are recorded in the account at SSA. - CORRECT
ANSWER-FALSE
When the employee retires or becomes disabled, SS benefits are paid based on the total earnings
reported by the employee's employers. - CORRECT ANSWER-TRUE
When the employee retires or becomes disabled, SS benefits are paid based on half of the earnings
reported by the employee's employers. - CORRECT ANSWER-FALSE
, IRS stands for? - CORRECT ANSWER-Internal Revenue Service
Who are the Internal Revenue Service? - CORRECT ANSWER-The United States' Tax Collector
The IRS uses ________as your personal taxpayer identification number when wages and taxes are
reported each year. - CORRECT ANSWER-Social Security Number
The employees yearly wages and tax information that are reported to the Social Security Administration
is shared with the IRS for income tax purposes. - CORRECT ANSWER-TRUE
The employees yearly wages and tax information that are reported to the Social Security Administration
can not be shared with the IRS for income tax purposes. - CORRECT ANSWER-FALSE
Methods of paying Employees name them: - CORRECT ANSWER-check,direct deposit, cash
Direct deposit is - CORRECT ANSWER-an electronic fund transfer of their pay directly into their bank
account.
Paycard is - CORRECT ANSWER-is a Debit payroll card to pay employees, especially when they don't have
a bank account.
All employees working in the United States must pay Federal Income and Employment taxes on their
wages. - CORRECT ANSWER-TRUE
Employers collects withholds money (federal income taxes and empoyment taxes depending other taxes
city ect) from your paycheck to the federal state, and or local governments - CORRECT ANSWER-TRUE
A resently divoresed e,ployee is required to file a new form W-4 - CORRECT ANSWER-TRUE
What is the feeral minimum hourly rate an employer can pay to tipped employees who received at least
30 $ per month in tips? - CORRECT ANSWER-2.13
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