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FPC Module 3 Quiz Questions plus Answers
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FPC Module 3 Quiz Questions plus Answers When would an employee have negative net pay? a) Taxes exceed other deductions b) Total deductions exceed gross wages c) Involuntary deductions exceed voluntary deductions d) Gross wages exceed total deductions Submit b) Total deductions exceed gros...

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  • October 18, 2024
  • 7
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • fpc module 3 quiz questions plus answers
  • when would an employee have negative net pay a
  • an exempt employee earns 143000 semimonthly th

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  • FPC - Fundamental Payroll Certification
  • FPC - Fundamental Payroll Certification

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FPC Module 3 Quiz Questions plus
Answers
When would an employee have negative net pay?

a) Taxes exceed other deductions
b) Total deductions exceed gross wages
c) Involuntary deductions exceed voluntary deductions
d) Gross wages exceed total deductions
Submit - answer b) Total deductions exceed gross wages

An employee's total deductions may exceed their gross wages, which results in
negative net pay.

(module 3 Lesson 2)v= M3L2

An exempt employee earns $1,430.00 semimonthly. The employee's deductions include
$77.00 for income tax, $109.40 for social security and Medicare taxes, $150.00 for
court-ordered child support, and $50.00 for a state tax levy. Calculate the employee's
semimonthly disposable earnings. - answer 1243.6

1430 - 77 - 109.40 = 1243.6

Under the CCPA, disposable earnings are determined by subtracting all deductions
required by law from an employee's gross earnings. Deductions required by law include
federal income, state income, local income, social security and Medicare taxes.

M3L1

The Debt Collection Improvement Act (DCIA) authorizes federal agencies to:

a) prioritize bankruptcy orders over federal and state tax levies received before the
bankruptcy order.
b) collect no more than 10% of disposable earnings to satisfy a delinquent student loan.
c) garnish an employee's wages without a court order for delinquent nontax debt owed
to the United States.
d) place restrictions on how the states may regulate creditor garnishments.
Submit - answer c) garnish an employee's wages without a court order for delinquent
nontax debt owed to the United States.

i put D

, The Debt Collection Improvement Act of 1996 (DCIA) authorizes federal agencies to
garnish, without a court order, the disposable pay of an individual to collect a delinquent
nontax debt owed to the United States.

M3L1

An employee's income is insufficient to deduct all the ordered wage attachments. The
orders were received in the following order: A child support order, a state tax levy, a
federal tax levy, and a creditor garnishment. Which wage attachment has priority?

a) Child support
b) Federal tax levy
c) State tax levy
d) Creditor garnishment - answer a) child support

i put B

The general priority for involuntary deductions is as follows: child support orders,
bankruptcy orders, federal administrative garnishments, federal tax levies, student loan
garnishments, state tax levies, local tax levies, and creditor garnishments.

M3L1

An employer has a federal tax levy in effect on an employee who wants to increase the
amount of a charitable deduction from $50.00 per pay period to $75.00. The effect of
the change will:

a. reduce the exempt amount when figuring net pay.
b. increase the exempt amount when figuring net pay.
c. reduce the amount paid to the IRS.
d. increase the amount paid to the IRS. - answer a. reduce the exempt amount when
figuring net pay.

i put B

Under IRS rules, when an employee voluntarily increases a deduction after a federal tax
levy is in effect, the change reduces the exempt amount when figuring net pay and does
not reduce the amount withheld for the IRS.

M3L1

An employee's monthly disposable pay is $750.00 with involuntary deductions received
in the following order:
$175.00 federal tax levy
$50.00 creditor garnishment
$75.00 state tax levy

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