Payroll Accounting Module 2 EXAM Questions With
Accurate Solutions
How are the funds used which are provided by FUTA and SUTA? - CORRECT
ANSWER✅✅✅FUTA funds are used to pay the state and federal administrative expenses
and SUTA funds are used to pay the unemployment compensation benefits to the qualified
unemployed workers.
Which of the following acts prohibits discriminating in hiring, firing, promoting, compensating,
or in any other condition of employment on the basis of race, color, religion, gender, or national
origin? - CORRECT ANSWER✅✅✅The Civil Rights Act of 1964
What is the purpose of the Age Discrimination in Employment Act (ADEA)? - CORRECT
ANSWER✅✅✅To prohibit discrimination on the basis of age in the employment practices
of employer
Which of these employee types is an allowable exception to the protection of the Age
Discrimination in Employment? - CORRECT ANSWER✅✅✅Executive employees who are
65 years or older and have held high policymaking positions during the two-year period prior to
retirement
Who is covered by the Walsh-Healey Public Contract Act? - CORRECT
ANSWER✅✅✅Laborers for contractors who furnish materials, supplies, articles, and
equipment to any agency of the United States, provided the minimum contract amount is $10,000
What is vesting? - CORRECT ANSWER✅✅✅Vesting conveys to employees the right to
share in the retirement fund in the event they are terminated before the normal retirement age
At a minimum, how often should an administrator furnish a statement of total benefits accrued
and accrued benefits that are vested under ERISA? - CORRECT ANSWER✅✅✅Once in 12
month period
Accurate Solutions
How are the funds used which are provided by FUTA and SUTA? - CORRECT
ANSWER✅✅✅FUTA funds are used to pay the state and federal administrative expenses
and SUTA funds are used to pay the unemployment compensation benefits to the qualified
unemployed workers.
Which of the following acts prohibits discriminating in hiring, firing, promoting, compensating,
or in any other condition of employment on the basis of race, color, religion, gender, or national
origin? - CORRECT ANSWER✅✅✅The Civil Rights Act of 1964
What is the purpose of the Age Discrimination in Employment Act (ADEA)? - CORRECT
ANSWER✅✅✅To prohibit discrimination on the basis of age in the employment practices
of employer
Which of these employee types is an allowable exception to the protection of the Age
Discrimination in Employment? - CORRECT ANSWER✅✅✅Executive employees who are
65 years or older and have held high policymaking positions during the two-year period prior to
retirement
Who is covered by the Walsh-Healey Public Contract Act? - CORRECT
ANSWER✅✅✅Laborers for contractors who furnish materials, supplies, articles, and
equipment to any agency of the United States, provided the minimum contract amount is $10,000
What is vesting? - CORRECT ANSWER✅✅✅Vesting conveys to employees the right to
share in the retirement fund in the event they are terminated before the normal retirement age
At a minimum, how often should an administrator furnish a statement of total benefits accrued
and accrued benefits that are vested under ERISA? - CORRECT ANSWER✅✅✅Once in 12
month period
