Missed Questions (FPC Book) Exam | Questions
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Terms in this set (172)
Which payment type is subject to B. Cash awards for safety performance
federal income-tax withholding?
A. Qualified moving-expense
reimbursement (military)
B. Cash awards for safety
performance
C. De minimis holiday gift
D. Qualified educational assistance
A salaried manager earing $50,000 B. Overtime for 5 hours at 1.5x regular rate
annually is paid for 45 hours in one
week. What additional pay is due if
the employee fails duties test for
exemption?
A. None, salary covers all
B. Overtime for 5 hours at 1.5x
regular rate
C. Straight pay for 5 hours
D. Only compensatory time
Which of the following benefits may B. Occasional company picnic
be excluded as a de minimis fringe?
A. Season tickets to sporting event
B. Occasional company picnic
C. Monthly transportation passes
D. Employer-paid family vacations
,An employee earns $1,000 a week C. $36.67
and receives a $200 non-
discretionary bonus for the week
after working 45 hours. What is the
overtime rate?
A. $33.33
B. $34.67
C. $36.67
D. $37.50
Which of the following statements B. Waiting time controlled by the employer is
about compensable work time compensable
under FLSA is true?
A. Commuting home from work is
always compensable
B. Waiting time controlled by the
employer is compensable
C. Meal periods under 20 minutes
are not compensable
D. Training outside of works hours is
never paid
If an employee receives a D. Supplemental wage subject to tax withholding
retroactive pay increase, the
additional amount is treated for tax
purposes as:
A. Non-taxable adjustment
B. Deferred income until next year
C. Expense reimbursement
D. Supplemental wage subject to
tax withholding
, Which of the following payments C. Retroactive pay adjustment
qualifies as supplemental wages
under IRS guidelines?
A. Regular weekly pay
B. Overtime pay
C. Retroactive pay adjustment
D. Reimbursed business meals
If an employer fails to withhold B. Employer only
required payroll taxes, who is liable
for payment?
A. Employee only
B. Employer only
C. Both employee and employer
D. IRS waives liability
What is the purpose of Form 940? A. To report FUTA taxes annually
A. To report FUTA taxes annually
B. To reconcile quarterly income-
tax deposits
C. To submit monthly wage data to
SSA
D. To summarize state
unemployment contributions
When computing taxable wages, C. Excluded from income tax, but subject to FICA
how are employee elective 401(k)
contributions treated?
A. Excluded from income tax and
FICA
B. Subject to both income tax and
FICA
C. Excluded from income tax, but
subject to FICA
D. Fully taxable in the year earned
with 100% Correct Answers | Verified | Latest
Update 2026
Save
Terms in this set (172)
Which payment type is subject to B. Cash awards for safety performance
federal income-tax withholding?
A. Qualified moving-expense
reimbursement (military)
B. Cash awards for safety
performance
C. De minimis holiday gift
D. Qualified educational assistance
A salaried manager earing $50,000 B. Overtime for 5 hours at 1.5x regular rate
annually is paid for 45 hours in one
week. What additional pay is due if
the employee fails duties test for
exemption?
A. None, salary covers all
B. Overtime for 5 hours at 1.5x
regular rate
C. Straight pay for 5 hours
D. Only compensatory time
Which of the following benefits may B. Occasional company picnic
be excluded as a de minimis fringe?
A. Season tickets to sporting event
B. Occasional company picnic
C. Monthly transportation passes
D. Employer-paid family vacations
,An employee earns $1,000 a week C. $36.67
and receives a $200 non-
discretionary bonus for the week
after working 45 hours. What is the
overtime rate?
A. $33.33
B. $34.67
C. $36.67
D. $37.50
Which of the following statements B. Waiting time controlled by the employer is
about compensable work time compensable
under FLSA is true?
A. Commuting home from work is
always compensable
B. Waiting time controlled by the
employer is compensable
C. Meal periods under 20 minutes
are not compensable
D. Training outside of works hours is
never paid
If an employee receives a D. Supplemental wage subject to tax withholding
retroactive pay increase, the
additional amount is treated for tax
purposes as:
A. Non-taxable adjustment
B. Deferred income until next year
C. Expense reimbursement
D. Supplemental wage subject to
tax withholding
, Which of the following payments C. Retroactive pay adjustment
qualifies as supplemental wages
under IRS guidelines?
A. Regular weekly pay
B. Overtime pay
C. Retroactive pay adjustment
D. Reimbursed business meals
If an employer fails to withhold B. Employer only
required payroll taxes, who is liable
for payment?
A. Employee only
B. Employer only
C. Both employee and employer
D. IRS waives liability
What is the purpose of Form 940? A. To report FUTA taxes annually
A. To report FUTA taxes annually
B. To reconcile quarterly income-
tax deposits
C. To submit monthly wage data to
SSA
D. To summarize state
unemployment contributions
When computing taxable wages, C. Excluded from income tax, but subject to FICA
how are employee elective 401(k)
contributions treated?
A. Excluded from income tax and
FICA
B. Subject to both income tax and
FICA
C. Excluded from income tax, but
subject to FICA
D. Fully taxable in the year earned
