CPP (CERTIFIED PAYROLL PROFESSIONAL)
FINAL EXAM NEWEST 2024 ACTUAL EXAM
COMPLETE 200 QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS)
|ALREADY GRADED A+||BRAND NEW!!
CPP EXAM
Which of the following workers can be classified as an exempt
employee? - ANSWER- An executive assistant earning
$1,129.00 each week exercising discretion while performing
duties
When is Form 1042-S required to be provided to the IRS? -
ANSWER- March 15
Which of the following statements is true about §125 plans? -
ANSWER- Employer contributions taken as cash are taxable
compensation
An employee is injured on the job and is unable to work for
three months. During that time, the employee receives $3,100.00
,2|Page
of workers' compensation paid by the state agency. The
employer uses the Wage Bracket Method and the employee
claims Married and two allowances on a 2019 Form W-4.
Calculate the amount of federal income tax that must be
withheld for workers' compensation payments. - ANSWER-
$0.00
Workers' compensation paid under the state law are excluded
from an employee's income for income, social security, and
Medicare taxes.
Under the FLSA a workweek starts on: - ANSWER- Any day at
any time
After an employer has received an IRS lock-in letter, the
employee submits an amended Form W-4 resulting in less
withholding than the letter requires. The employer MUST: -
ANSWER- Continue to withhold based on the lock-in letter
Counseling is appropriate when: - ANSWER- Layoffs occur
Which of the following statements is true regarding payroll tax
deposits? - ANSWER- Employers reporting more than
$50,000.00 in payroll taxes during the lookback period are
semiweekly depositors.
,3|Page
When would an employee have negative net pay? - ANSWER-
Total deductions exceed gross wages
Which of the following statements is true regarding 401(k)
plans? - ANSWER- In 2023, the maximum 401(k) deferral for
employees under 50 years of age to a 401(k) plan is $22,500.00.
PreviousNext
All of the following factors define a key employee in cafeteria
plan nondiscrimination testing EXCEPT: - ANSWER- Any
employee with compensation exceeding $120,000
Voiding a check issued in error in a prior year after all returns
were filed requires all of the following procedures EXCEPT: -
ANSWER- A refund to the employee
Which of the following workers can be classified as an exempt
employee? - ANSWER- An executive assistant earning $949.00
each week exercising discretion while performing duties
How does imputed income impact an employee's net pay? -
ANSWER- Decreases net pay
, 4|Page
An employer is required to transfer an employee's 401(k)
deferral into the trust fund: - ANSWER- As soon as it can
reasonably segregate the funds from general assets
In determining the source of income for services performed by a
nonresident alien partly inside and outside the U.S.,
compensation may be determined based on any of the following
procedures EXCEPT: - ANSWER- On the date the employee
returned to full-time U.S. employment.
Coaching is appropriate when: - ANSWER- Improving an
employee's skills
Which of the following health insurance arrangements are
taxable? - ANSWER- Discriminatory benefits provided in a self-
insured plan to highly compensated employees
A National Medical Support Notice requires an employer to: -
ANSWER- Honor the qualified medical child support order
When an employee receiving payments from a third-party sick
pay provider fails to complete Form W-4S, how much, if any,
federal income tax is withheld from the payments? - ANSWER-
No federal income tax is witheld
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 johnkabiru. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $28.49. You're not tied to anything after your purchase.
