APA APA Certifications FPC-REMOTE Questions & Answers

• Question 91:

  When making a supplemental wage payment to an employee whose supplemental YTD wages exceed $1,000,000 what tax rate is used to calculate federal income tax withholding?

  A. 6%

  B. 22%

  C. 24%

  D. 37%

  Correct Answer: D

• Question 92:

  An employee works from midnight to 8am on a company paid holiday but does not work more than 40 hours during the workweek. under the FLSA, the employee must be paid:

  A. double time for working the holiday

  B. time and one half for working the holiday

  C. a shift differential for working the late night shift

  D. at least the federal minimum wage

  Correct Answer: D

• Question 93:

  FUTA taxes of more than $500 on wages paid in the first quarter must be deposited no later than:

  A. march 31

  B. april 15

  C. april 30

  D. may 1

  Correct Answer: A

• Question 94:

  Prior to beginning work for a company, a chemical engineer signed a contract stating that she agreed to work as an independent contractor. she performs all her duties in the companys laboratories, works under the companys direction, and maintains regular office hours. what is her status?

  A. independent contractor under common law

  B. independent contractor under reasonable basis test

  C. employee

  Correct Answer: C

• Question 95:

  A company is located in a state with no state or local income taxes. when grossing up holiday bonuses for employees who have already earned more than $137,700 but less than $175,000 the payroll department should divide the amount of the bonus by what percentage?

  A. 75%

  B. 76.55%

  C. 71.55%

  D. 67.35%

  Correct Answer: B

• Question 96:

  A semiweekly depositor has a liability of $79,000 from Weds payday and a liability of $50,000 from Friday's payday. The deposit is due by the:

  A. next monday

  B. next weds

  C. next friday

  D. 15th of the month

  Correct Answer: A

• Question 97:

  Which of the following statements is correct regarding section 125 plans?

  A. employees working 10 hours a week or more must be included in the companys section 125 plan

  B. any benefits received in cash are not taxed

  C. at the end of the plan year, employees receive cash payments for amounts remaining

  D. benefits can be changed during the plan year if there is a qualified change in status

  Correct Answer: D

• Question 98:

  One of the options in an employee's cafeteria benefit plan is a dependent care flexible spending account. He earnmarked $100 per month to the account to pay for child care but spent only $1000 by the end of the plans grace period. At the end of the grace period, what happens to the $200 left in the account?

  A. the amount is forfeited

  B. it will be added to his taxable income

  C. he can use it to buy an additional benefits

  D. it will carry over to the next year

  Correct Answer: A

• Question 99:

  Which of the following plans can discriminate in favor of highly compensation employees?

  A. section 125 plans

  B. defined contribution plans

  C. 401k plans

  D. nonqualified deferred compensation plans

  Correct Answer: D

• Question 100:

  When paying supplemental wages, when must the aggregate withholding method be used?

  A. when no income tax is withheld from regular wages for the current or preceding year

  B. when the employee claims more than 10 dependents

  C. when the employee doesnt complete a form W4

  D. when the employee claims heads of household

  Correct Answer: A