Question 1

A worker who sells life insurance on a full-time basis is considered a statutory employee.

Accepted Answer

A) True 
 B)False

Question 2

Which pay frequency has 24 pay periods annually?

Accepted Answer

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

Question 3

Pay rate is the first payroll system decision a company must make.

Accepted Answer

A) True 
 B)False

Question 4

Which pay frequency has 26 pay periods per year?

Accepted Answer

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

Question 5

What forms are required when an employee is hired (Select all that apply)?

Accepted Answer

A)  W-4 
B)  I-9 
C)  SS-4 
D)  W-2 
A)  W-4 
B)  I-9 
C)  SS-4 
D)  W-2

Question 6

Mako was an employee of the Jaeger Corporation.After she voluntarily terminated employment,auditors discovered evidence of fraudulent activity that they traced to her.Mako's records must be retained:

Accepted Answer

A)  For 10 years. 
B)  For 15 years. 
C)  For 20 years. 
D)  Indefinitely. 
A)  For 10 years. 
B)  For 15 years. 
C)  For 20 years. 
D)  Indefinitely.

Question 7

A company should restrict access to payroll files (paper and/or electronic)as a part of _________________.

Accepted Answer

A)  File security internal controls 
B)  Audit trail requirements 
C)  Compliance with company policy 
D)  FATCA requirements 
A)  File security internal controls 
B)  Audit trail requirements 
C)  Compliance with company policy 
D)  FATCA requirements

Question 8

Which of the following are important decisions that an employer must make regarding its payroll procedures (Select all that apply)?

Accepted Answer

A)  How often to pay employees 
B)  How to handle pay advances 
C)  How many employees to hire 
D)  Which employee benefits to offer 
A)  How often to pay employees 
B)  How to handle pay advances 
C)  How many employees to hire 
D)  Which employee benefits to offer

Question 9

Which of the following items must exist in every employee's payroll file?

Accepted Answer

A)  Spouse's social security number 
B)  Employment history 
C)  Spouse's birth date 
D)  Occupation 
A)  Spouse's social security number 
B)  Employment history 
C)  Spouse's birth date 
D)  Occupation

Question 10

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

A worker who sells life insurance on a full-time basis is considered a statutory employee.

Which pay frequency has 24 pay periods annually?

Pay rate is the first payroll system decision a company must make.

Which pay frequency has 26 pay periods per year?

What forms are required when an employee is hired (Select all that apply)?

Mako was an employee of the Jaeger Corporation.After she voluntarily terminated employment,auditors discovered evidence of fraudulent activity that they traced to her.Mako's records must be retained:

A company should restrict access to payroll files (paper and/or electronic)as a part of _________________.

Which of the following are important decisions that an employer must make regarding its payroll procedures (Select all that apply)?

Which of the following items must exist in every employee's payroll file?

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

Payroll Practices and System Fundamentals

Gross Pay Computation

Employee Net Pay and Pay Methods

Employer Payroll Taxes and Labor Planning

Payroll Register, employees Earning Records, and Accounting System Entries

Filters

Exam 2: Payroll System Procedures

A worker who sells life insurance on a full-time basis is considered a statutory employee.

Which pay frequency has 24 pay periods annually?

Pay rate is the first payroll system decision a company must make.

Which pay frequency has 26 pay periods per year?

What forms are required when an employee is hired (Select all that apply)?

Mako was an employee of the Jaeger Corporation.After she voluntarily terminated employment,auditors discovered evidence of fraudulent activity that they traced to her.Mako's records must be retained:

A company should restrict access to payroll files (paper and/or electronic)as a part of _________________.

Which of the following are important decisions that an employer must make regarding its payroll procedures (Select all that apply)?

Which of the following items must exist in every employee's payroll file?

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

Payroll Practices and System Fundamentals

Gross Pay Computation

Employee Net Pay and Pay Methods

Employer Payroll Taxes and Labor Planning

Payroll Register, employees Earning Records, and Accounting System Entries

Filters

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