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TEST BANK FOR CPP EXAM | CERTIFIED PAYROLL PROFESSIONAL EXAM | ALL QUESTIONS AND CORRECT ANSWERS | ALREADY GRADED A+ | VERIFIED ANSWERS | LATEST VERSION$27.99
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TEST BANK FOR CPP EXAM | CERTIFIED PAYROLL PROFESSIONAL EXAM | ALL QUESTIONS AND CORRECT ANSWERS | ALREADY GRADED A+ | VERIFIED ANSWERS | LATEST VERSION
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CPP CERTIFIED PAYROLL PROFESSIONAL
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CPP CERTIFIED PAYROLL PROFESSIONAL
TEST BANK FOR CPP EXAM | CERTIFIED PAYROLL PROFESSIONAL EXAM | ALL QUESTIONS AND CORRECT ANSWERS | ALREADY GRADED A+ | VERIFIED ANSWERS | LATEST VERSION
TEST BANK FOR CPP EXAM | CERTIFIED PAYROLL
PROFESSIONAL EXAM | ALL QUESTIONS AND
CORRECT ANSWERS | ALREADY GRADED A+ |
VERIFIED ANSWERS | LATEST VERSION
Which of the following plans describes a cafeteria plan under section 125 of
the Internal Revenue code?
A. a quantified and accountable expense reimbursement plan
B. a tax-qualified retirement plan for public education institutions
C. a plan which permits employees to select from two or more qualified
taxable and nontaxable benefits
D. a plan whereby state government employees may request that pretax
dollars be set aside in a retirement account until age 59 ---------CORRECT
ANSWER-----------------C. a plan which permits employees to select from
two or more qualified taxable and nontaxable benefits
Using federal child support guidelines, calculate the maximum amount of
support that can be withheld from an employee's semimonthly disposable
earnings of $1,500.00. The employee is four months in arrears in making
child support payments and has no other dependents.
A. $750.00
B. $825.00
C. $900.00
D. $975.00 ---------CORRECT ANSWER-----------------D. $975.00
($1500x65%=$975)
Employers in non-credit reduction states that pay their state unemployment
taxes on time can deduct up to what percentage from the full FUTA tax rate
in calculating their FUTA tax payments?
A. 0.6%
B. 4.5%
C. 5.4%
D. 6.0% ---------CORRECT ANSWER-----------------C. 5.4%
,Which of the following items determines the disposition of unclaimed
wages?
A. state law only
B. federal law only
C. federal and state law
D. no recognized procedures exist ---------CORRECT ANSWER----------------
-A. state law only
An employee is terminated with 3 workdays remaining in a month. The
employee earned an annual salary of $24,000 and was paid semimonthly.
What is the regular compensation due this employee for the final pay
period?
A. $723.07
B. $782.61
C. $800.00
D. $869.57 ---------CORRECT ANSWER-----------------A. $723.07
($24,000/24)-(($24,000/260)x3)=$723.07
Employee deferrals under section 401(k) are subject to which taxes?
A. federal income, social security and Medicare taxes
B. social security and Medicare taxes
C. social security, Medicare and FUTA taxes
D. federal income, social security, Medicare and FUTA taxes ---------
CORRECT ANSWER-----------------C. social security, Medicare and FUTA
taxes
What does it mean if, at the end of an accounting period, a company has a
debit balance in a liability account?
A. The company has under deposited taxes withheld from employee wages
B. The company has not yet paid the third party
C. The company has withheld too much from the employee
,D. The company has paid to a third party more than was withheld from the
employee ---------CORRECT ANSWER-----------------D. The company has
paid to a third party more than was withheld from the employee
All of the following factors are advantages of having an in-house developed
payroll/HR system EXCEPT:
A. scheduling flexibility
B. user groups
C. security
D. control of the system ---------CORRECT ANSWER-----------------B. user
groups
A payroll department manager should assure:
A. an independent mission statement
B. appropriate training and equipment resources for staff members
C. immediate enactment of employee suggestions
D. top payment of staff ---------CORRECT ANSWER-----------------B.
appropriate training and equipment resources for staff members
Which of the following statements describes a self-insured workers'
compensation plan?
A. The state pays the workers' compensation payments
B. The employer funds the workers' compensation payments
C. The wages will continue as if the employee is still working
D. The individual employee is responsible for his own insurance ---------
CORRECT ANSWER-----------------B. The employer funds the workers'
compensation payments
the proper handling of a stop payment includes all of the following steps
EXCEPT:
A. reversing the direct deposit
B. canceling the payment in the payroll system
, C. notifying the bank account reconciliation employees
D. documenting the reason for the transaction ---------CORRECT
ANSWER-----------------A. reversing the direct deposit
An employee is paid $10 per hour plus a 10% differential for evening shifts.
During the past week, the employee worked 24 hours on the day shift and
24 hours on the evening shift. Under the FLSA, what are the employee's
gross wages for the week?
A. $572.00
B. $522.64
C. $520.00
D. $546.00 ---------CORRECT ANSWER-----------------D. $546.00
(48x$10)+(24x$10x10%)=$504.00
$504.00/48=$10.50
($504.00+($10.50x.50x8))=$546.00
Using the 2017 percentage method withholding tables, calculate the
employee's withheld federal income tax based on the following data:
Weekly pay frequency
Vacation earnings: $360.62
Regular compensation: $239.38
401(k) pre-tax deferral: $48.50
Married, 0 allowances
A. $39.88
B. $21.85
C. $67.13
D. $47.15 ---------CORRECT ANSWER-----------------A. $39.88
$360.62+$239.38-$48.50=$551.50
$551.50-$525=($26.50x15%)+$35.90=$39.88
A request for proposal (RFP) can be used to:
A. provide vendors with technical and functional system requirements
B. request funds during a budget process
C. analyze needs for the system
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