CPP CERTIFIED PAYROLL PROFESSIONAL EXAM
2024-2025 ACTUAL EXAM 400 QUESTIONS AND
CORRECT DETAILED ANSWERS (
Practice questions for this set
Learn 2 /7 Study with Learn
Under the CCPA for a creditor garnishment, an employer must withhold the
lesser of 25% of the employee's disposable earnings or the difference
between the employee's disposable earnings and 30 times the minimum wage
to satisfy the creditor garnishment. If an employee has an involuntary
deduction with a higher priority deduction than the CCPA limit for creditor
garnishments, nothing will be withheld.
Give this one a try later!
An employee earns $1,000.00 semimonthly. Deductions include $235.00 for federal
income, social security, Medicare, and state taxes and $300.00 in child support.
Calculate the amount that can be deducted for a creditor garnishment.
If an employer goes out of business, completion of Part 3 of Form 941 is required with
2 the final date it paid wages. This action also accelerates the date the Forms W-2 are
due to SSA to:
, 3 The foreign earned income exclusion limit for a qualified employee in 2019 is
4 Form 1042 must be provided to the IRS by:
Don't know?
Terms in this set (140)
Counseling is appropriate a. salaries have been frozen.
when:
a. salaries have been
frozen.
b. introducing a new
procedure.
c. explaining tax law
changes.
d. orienting new
employees.
In addition to the 75%
accuracy-related penalty
for underpayment of
taxes, if the underpayment
of taxes is due to fraud,
the IRS may asses an
additional penalty of:
If an employer's total tax Wednesday or Friday under the semiweekly rules.
liability for the lookback
period is $75,000.00, a tax
liability less than $100,000
must be deposited no
later than:
, A company has accrued debit to the liability account.
$23,665.00 of vacation
pay to a liability account.
When employees are paid
the vacation amount due,
the entries to the vacation
liability account will be
recorded as a:
Under the FLSA, when a within one month after the end of the year, make a
highly compensated final payment to the employee to reach $100,000.00 in
exempt employee annual compensation.
receives less than
$100,000.00 in
compensation during the
year, the employer may:
Cafeteria plans and other "flex dollars" or "flex credits", salary reduction, or after
flexible benefit plans are tax contributions.
generally funded by either
of the following
mechanisms:
IRC §125 Cafeteria plans b. COBRA.
are generally funded by
all of the following
mechanisms EXCEPT:
a. flex dollars".
b. COBRA.
c. after-tax employee
contributions.
d. salary reduction.
Form W-4S allows the a flat amount.
third-party sick pay
provider to withhold
federal income tax based
on:
2024-2025 ACTUAL EXAM 400 QUESTIONS AND
CORRECT DETAILED ANSWERS (
Practice questions for this set
Learn 2 /7 Study with Learn
Under the CCPA for a creditor garnishment, an employer must withhold the
lesser of 25% of the employee's disposable earnings or the difference
between the employee's disposable earnings and 30 times the minimum wage
to satisfy the creditor garnishment. If an employee has an involuntary
deduction with a higher priority deduction than the CCPA limit for creditor
garnishments, nothing will be withheld.
Give this one a try later!
An employee earns $1,000.00 semimonthly. Deductions include $235.00 for federal
income, social security, Medicare, and state taxes and $300.00 in child support.
Calculate the amount that can be deducted for a creditor garnishment.
If an employer goes out of business, completion of Part 3 of Form 941 is required with
2 the final date it paid wages. This action also accelerates the date the Forms W-2 are
due to SSA to:
, 3 The foreign earned income exclusion limit for a qualified employee in 2019 is
4 Form 1042 must be provided to the IRS by:
Don't know?
Terms in this set (140)
Counseling is appropriate a. salaries have been frozen.
when:
a. salaries have been
frozen.
b. introducing a new
procedure.
c. explaining tax law
changes.
d. orienting new
employees.
In addition to the 75%
accuracy-related penalty
for underpayment of
taxes, if the underpayment
of taxes is due to fraud,
the IRS may asses an
additional penalty of:
If an employer's total tax Wednesday or Friday under the semiweekly rules.
liability for the lookback
period is $75,000.00, a tax
liability less than $100,000
must be deposited no
later than:
, A company has accrued debit to the liability account.
$23,665.00 of vacation
pay to a liability account.
When employees are paid
the vacation amount due,
the entries to the vacation
liability account will be
recorded as a:
Under the FLSA, when a within one month after the end of the year, make a
highly compensated final payment to the employee to reach $100,000.00 in
exempt employee annual compensation.
receives less than
$100,000.00 in
compensation during the
year, the employer may:
Cafeteria plans and other "flex dollars" or "flex credits", salary reduction, or after
flexible benefit plans are tax contributions.
generally funded by either
of the following
mechanisms:
IRC §125 Cafeteria plans b. COBRA.
are generally funded by
all of the following
mechanisms EXCEPT:
a. flex dollars".
b. COBRA.
c. after-tax employee
contributions.
d. salary reduction.
Form W-4S allows the a flat amount.
third-party sick pay
provider to withhold
federal income tax based
on:
