FPC Certification
1. FLSA: Fair Labor Standards Act
2. Journal: Debits and credits to a specific ledger accout
3. Is batch processing interactive?: No
4. By when must employers inform employees to submit a new W-4 if
marital status or # of allowances have changed?: December 1st
5. Are non qualified deferred compensations plans subject to
contribution limits?: No
6. What plans are subject to contribution limits?: 401K, 457b, 403b
7. What form is used to correct mistakes done on form 941?: Form 941-X
8. How many billing cycles does an employer have to update their payroll
for changes to employee's W-4?: Two billing cycles (?)
9. The ability of a payroll department to provide accurate paychecks on a
timely basis is an example of the customer service principle of .-
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, : Reliability
10.FUTA: Federal Unemployment Tax Act
11.Common Law Test is made up of what three things?: behavioral
control, relationship of the parties, financial control
12.What are criteria used in calculating an employees federal income tax?:
# of allowances, pay frequency, marital status
13.Tangibles that a payroll department displays are:: Physical facilities,
organi- zation, appearance of the payroll staff
14.If an employee's spouse passes away, when must the employee submit
an amended W-4?: January 1st of the following year
15.What pay is considered discretionary?: Holiday pay
16.The payment of a creditor's wage garnishment withheld from the em-
ployee's wage will decrease both the and .:
assets, liabilities
17.How frequently does federal law require master files to be updated?:
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1. FLSA: Fair Labor Standards Act
2. Journal: Debits and credits to a specific ledger accout
3. Is batch processing interactive?: No
4. By when must employers inform employees to submit a new W-4 if
marital status or # of allowances have changed?: December 1st
5. Are non qualified deferred compensations plans subject to
contribution limits?: No
6. What plans are subject to contribution limits?: 401K, 457b, 403b
7. What form is used to correct mistakes done on form 941?: Form 941-X
8. How many billing cycles does an employer have to update their payroll
for changes to employee's W-4?: Two billing cycles (?)
9. The ability of a payroll department to provide accurate paychecks on a
timely basis is an example of the customer service principle of .-
1/
12
, : Reliability
10.FUTA: Federal Unemployment Tax Act
11.Common Law Test is made up of what three things?: behavioral
control, relationship of the parties, financial control
12.What are criteria used in calculating an employees federal income tax?:
# of allowances, pay frequency, marital status
13.Tangibles that a payroll department displays are:: Physical facilities,
organi- zation, appearance of the payroll staff
14.If an employee's spouse passes away, when must the employee submit
an amended W-4?: January 1st of the following year
15.What pay is considered discretionary?: Holiday pay
16.The payment of a creditor's wage garnishment withheld from the em-
ployee's wage will decrease both the and .:
assets, liabilities
17.How frequently does federal law require master files to be updated?:
2/
12
