CPP CERTIFIED PAYROLL PROFESSIONAL EXAM
2024-2025 ACTUAL EXAM 150 QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS)
Terms in this set (140)
Counseling is appropriate a. salaries have been frozen.
when:
a. salaries have been
frozen.
b. introducing a new
procedure.
c. explaining tax law
changes.
d. orienting new
employees.
In addition to the accuracy- 75%
related penalty for
underpayment of taxes, if
the underpayment of taxes
is due to fraud, the IRS may
asses an additional penalty
of:
If an employer's total tax Wednesday or Friday under the semiweekly rules.
liability for the lookback
period is $75,000.00, a tax
liability less than $100,000
must be deposited no later
than:
,A company has accrued debit to the liability account.
$23,665.00 of vacation pay
to a liability account. When
employees are paid the
vacation amount due, the
entries to the vacation
liability account will be
recorded as a:
Under the FLSA, when a within one month after the end of the year, make a final
highly compensated payment to the employee to reach $100,000.00 in annual
exempt employee receives compensation.
less than $100,000.00 in
compensation during the
year, the employer may:
Cafeteria plans and other "flex dollars" or "flex credits", salary reduction, or after
flexible benefit plans are tax contributions.
generally funded by either
of the following
mechanisms:
IRC §125 Cafeteria plans are b. COBRA.
generally funded by all of
the following mechanisms
EXCEPT:
a. flex dollars".
b. COBRA.
c. after-tax employee
contributions.
d. salary reduction.
Form W-4S allows the third- a flat amount.
party sick pay provider to
withhold federal income tax
based on:
, A National Medical Support honor the qualified medical child support order.
Notice requires an
employer to:
An employee with year-to- $474.30 - Social security and Medicare taxes are
date wages of $25,000.00 withheld for six calendar months after the employee's
was disabled for four last day of work.
months and was paid
$6,200.00 by a third-party
insurer. The disability plan
premiums are paid entirely
by the employer. No Form
W-4S was provided to the
insurer. Calculate the
amount of federal income,
social security, and
Medicare taxes the third
party payer must withhold.
Form 941 must be filed by both the previous and current
If an employer sells or owners for the quarter during which the sale took place.
transfers its business: Each employer must report only the wages it paid and
taxes it withheld.
If an employer goes out of the end of the second month following the quarter the
business, completion of Part business closed.
3 of Form 941 is required
with the final date it paid
wages. This action also
accelerates the date the
Forms W-2 are due to SSA
to:
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