Question 1

FATCA enforcement has been diﬃcult because the Internal Revenue Service relies on  ____ for reporting purposes.

Accepted Answer

A) personal income tax returns 
B) employers and employees 
C) intermediaries (e.g., banks) 
D) foreign countries 
A) personal income tax returns 
B) employers and employees 
C) intermediaries (e.g., banks) 
D) foreign countries

Question 2

The IRS stipulates that no more than ____ percent of a company's employees may be leased employees.

Accepted Answer

A) 10 
B) 20 
C) 30 
D) 40 
A) 10 
B) 20 
C) 30 
D) 40

Question 3

A ____ employee is eligible for company beneﬁts whereas a ____employee is not.

Accepted Answer

A) independent contractor; temporary 
B) temporary; part-time 
C) leased; temporary 
D) temporary; leased 
A) independent contractor; temporary 
B) temporary; part-time 
C) leased; temporary 
D) temporary; leased

Question 4

Well-designed internal controls promote: (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)

Accepted Answer

A) Audit trail support. 
B) Protection against embezzlement. 
C) Legal compliance and file integrity. 
D) Opportunities for defalcation. 
A) Audit trail support. 
B) Protection against embezzlement. 
C) Legal compliance and file integrity. 
D) Opportunities for defalcation.

Question 5

Which entity bears the responsibility for gaining approval for a foreign worker visa so a foreign employee may work legally in the United States?

Accepted Answer

A) The U.S. State Department 
B) The employer 
C) The employee 
D) The employer's home country 
A) The U.S. State Department 
B) The employer 
C) The employee 
D) The employer's home country

Question 6

Which pay frequency has 24 pay periods annually?

Accepted Answer

A) Semi-weekly 
B) Weekly 
C) Semimonthly 
D) Biweekly 
A) Semi-weekly 
B) Weekly 
C) Semimonthly 
D) Biweekly

Question 7

Only regular working hours are considered as the worked hours for overtime computation.

Accepted Answer

A) True 
 B)False

Question 8

Which items must be contained in every hiring packet issued by an employer?

Accepted Answer

A) Descriptions of beneﬁts and enrollment forms 
B) No items are mandated for issuance in a hiring packet. 
C) Forms W-4 and I-9 
D) Employment contract with start date and pay agreement 
A) Descriptions of beneﬁts and enrollment forms 
B) No items are mandated for issuance in a hiring packet. 
C) Forms W-4 and I-9 
D) Employment contract with start date and pay agreement

Question 9

When a payroll clerk receives an approved request for an employee's time away from work, he or she should:

Accepted Answer

A) Destroy the document in accordance with privacy laws. 
B) Immediately place it in the employee's ﬁle. 
C) Contact the employee to verify the request. 
D) Attach it to the employee's time collection report for the pay period. 
A) Destroy the document in accordance with privacy laws. 
B) Immediately place it in the employee's ﬁle. 
C) Contact the employee to verify the request. 
D) Attach it to the employee's time collection report for the pay period.

Question 10

If a ﬁrm pays its employees biweekly, how often does it disburse employee compensation?

Accepted Answer

A) Every two weeks 
B) Twice per week 
C) Every three weeks 
D) Every week 
A) Every two weeks 
B) Twice per week 
C) Every three weeks 
D) Every week

Question 11

Computerized payroll records are considered a(n):

Accepted Answer

A) Closed access. 
B) Open system. 
C) Open access. 
D) Closed system. 
A) Closed access. 
B) Open system. 
C) Open access. 
D) Closed system.

Question 12

A firm needs to destroy paper payroll records after the end of the retention period. Which of the following is an option for destruction purposes? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)

Accepted Answer

A) Shredding 
B) Pulping 
C) Burning 
D) Discarding 
A) Shredding 
B) Pulping 
C) Burning 
D) Discarding

Question 13

Why is it important for an employer to classify a worker as either an employee or an independent contractor?

Accepted Answer

A) For reimbursement purposes 
B) For child support obligations purposes 
C) For government tracking purposes 
D) For tax reporting purposes 
A) For reimbursement purposes 
B) For child support obligations purposes 
C) For government tracking purposes 
D) For tax reporting purposes

Question 14

The ____ mandated that new hires must be reported within ____ days to state authorities.

Accepted Answer

A) Fair Labor Standards Act; 30 
B) Immigration Reform and Control Act; 20 
C) Davis-Bacon Act; 28 
D) Civil Rights Act; 25 
A) Fair Labor Standards Act; 30 
B) Immigration Reform and Control Act; 20 
C) Davis-Bacon Act; 28 
D) Civil Rights Act; 25

Question 15

According to the Fair Labor Standards Act, nonexempt workers receive overtime for:

Accepted Answer

A) Hours worked in excess of 8 per day and 30 per week. 
B) Hours worked in excess of 40 per week. 
C) Hours worked in excess of employer-determined rules. 
D) Hours worked in excess of 9 per day or 35 per week. 
A) Hours worked in excess of 8 per day and 30 per week. 
B) Hours worked in excess of 40 per week. 
C) Hours worked in excess of employer-determined rules. 
D) Hours worked in excess of 9 per day or 35 per week.

Question 16

Which pay frequency has 12 pay periods?

Accepted Answer

A) Daily 
B) Monthly 
C) Semimonthly 
D) Weekly 
A) Daily 
B) Monthly 
C) Semimonthly 
D) Weekly

Question 17

Individuals classiﬁed as are processed as ____ vendors of a ﬁrm.

Accepted Answer

A) government contract employees 
B) independent contractors 
C) exempt employees 
D) nonexempt employees 
A) government contract employees 
B) independent contractors 
C) exempt employees 
D) nonexempt employees

Question 18

Natalie is involuntarily terminated by a company in Alabama. According to state regulations, when must she receive her ﬁnal pay?

Accepted Answer

A) On the next business day 
B) At the next schedule payday 
C) No standardized state guidelines exist 
D) Within seven business days 
A) On the next business day 
B) At the next schedule payday 
C) No standardized state guidelines exist 
D) Within seven business days

Question 19

Upon termination, which of the following must be included in an employee's ﬁnal pay?

Accepted Answer

A) Hours worked. 
B) Sick time accrued but not used. 
C) Severance pay. 
D) Vacation previously paid. 
A) Hours worked. 
B) Sick time accrued but not used. 
C) Severance pay. 
D) Vacation previously paid.

Question 20

Which of the following parties does not legally have access to a ﬁrm's payroll records?

Accepted Answer

A) The IRS 
B) The Department of Homeland Security 
C) State revenue department employees 
D) All employees of the ﬁrm 
A) The IRS 
B) The Department of Homeland Security 
C) State revenue department employees 
D) All employees of the ﬁrm

FATCA enforcement has been diﬃcult because the Internal Revenue Service relies on ____ for reporting purposes.

The IRS stipulates that no more than ____ percent of a company's employees may be leased employees.

A employee is eligible for company beneﬁts whereas a employee is not.

Which entity bears the responsibility for gaining approval for a foreign worker visa so a foreign employee may work legally in the United States?

Which pay frequency has 24 pay periods annually?

Only regular working hours are considered as the worked hours for overtime computation.

Which items must be contained in every hiring packet issued by an employer?

When a payroll clerk receives an approved request for an employee's time away from work, he or she should:

If a ﬁrm pays its employees biweekly, how often does it disburse employee compensation?

Computerized payroll records are considered a(n):

Why is it important for an employer to classify a worker as either an employee or an independent contractor?

The mandated that new hires must be reported within days to state authorities.

According to the Fair Labor Standards Act, nonexempt workers receive overtime for:

Which pay frequency has 12 pay periods?

Individuals classiﬁed as are processed as ____ vendors of a ﬁrm.

Natalie is involuntarily terminated by a company in Alabama. According to state regulations, when must she receive her ﬁnal pay?

Upon termination, which of the following must be included in an employee's ﬁnal pay?

Which of the following parties does not legally have access to a ﬁrm's payroll records?

The Need for Payroll and Personnel Records

Social Security Taxes

Income Tax Withholding

Unemployment Compensation Taxes

Payroll Project

Filters

Exam 2: Computing Wages and Salaries

FATCA enforcement has been diﬃcult because the Internal Revenue Service relies on ____ for reporting purposes.

The IRS stipulates that no more than ____ percent of a company's employees may be leased employees.

A ____ employee is eligible for company beneﬁts whereas a ____employee is not.

Which entity bears the responsibility for gaining approval for a foreign worker visa so a foreign employee may work legally in the United States?

Which pay frequency has 24 pay periods annually?

Only regular working hours are considered as the worked hours for overtime computation.

Which items must be contained in every hiring packet issued by an employer?

When a payroll clerk receives an approved request for an employee's time away from work, he or she should:

If a ﬁrm pays its employees biweekly, how often does it disburse employee compensation?

Computerized payroll records are considered a(n):

Why is it important for an employer to classify a worker as either an employee or an independent contractor?

The ____ mandated that new hires must be reported within ____ days to state authorities.

According to the Fair Labor Standards Act, nonexempt workers receive overtime for:

Which pay frequency has 12 pay periods?

Individuals classiﬁed as are processed as ____ vendors of a ﬁrm.

Natalie is involuntarily terminated by a company in Alabama. According to state regulations, when must she receive her ﬁnal pay?

Upon termination, which of the following must be included in an employee's ﬁnal pay?

Which of the following parties does not legally have access to a ﬁrm's payroll records?

The Need for Payroll and Personnel Records

Social Security Taxes

Income Tax Withholding

Unemployment Compensation Taxes

Payroll Project

Filters

A employee is eligible for company beneﬁts whereas a employee is not.

The mandated that new hires must be reported within days to state authorities.