Exam (elaborations)
FPC - 2023 (1).
- Course
- Institution
Exam of 2 pages for the course FPC Chapter 2.2 & 2.3 at FPC Chapter 2.2 & 2.3 (FPC - 2023 (1).)
[Show more]
Seller
Follow
lydiaomutho
Content preview
FPC - 2023An employee works from midnight to 8:00 a.m. on a company-paid holiday but does not work
more than 40 hours during the workweek. Under the FSLA, the employee must be paid: -
ANS-At least the federal minimum wage for all hours worked
The white-collar exemption categories include (Hint: Think CAPES) - ANS-Computer-related
occupations, administrative, professionals, executives, outside sales
What is the minimum amount an employee can make to be considered a highly-compensated
employee? - ANS-$107,432
Are discretionary bonuses included in the regular rate of pay? - ANS-No
Are non-discretionary bonuses included in a non-exempt employee's overtime pay calculation? -
ANS-Yes
What is the regular rate of pay calculation? - ANS-RRoP = Total Regular Pay / Hours Worked in
the Workweek
Name at least 5 typed of payments included in RRoP calculations... - ANS-Commission, shift
differential, hazardous pay, non-discretionary bonus, deferred commission payments, retroactive
pay, non-cash payments, supplemental disability payments, on-call payments, waiting time
What kind of payment is paid for services performed, not tied to a contract or other agreement,
and is optional? - ANS-Discretionary Bonus
What kind of payment is paid as an incentive for performance, tied to a contract or other
agreement, and may need to be allocated over multiple work weeks? - ANS-Non-discretionary
bonus
Name at least five types of hours worked... - ANS-On-call, waiting time, rest and meal periods,
sleeping time, training/seminar/conference, travel time, remedial education,
pre-liminary/post-liminary activities
The Department of Labor allows employers to round an employee's time worked to the nearest
_______, _______, _________. - ANS-5 minutes / tenth of an hour / quarter of an hour
Name at least five cafeteria/section 125 plans and how are they taxed? - ANS-Pre-tax; accident,
vision, medical care FSA, HSA, whole/life insurance, medical, adoption assistance, dependent
care FSA, short-term disability, accidental death, qualified 401(k) plans, dental, long-term care
FSA, long-term disability, group-term life insurance
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller lydiaomutho. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
76747 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now