APA APA Certifications FPC-REMOTE Questions & Answers

• Question 101:

  Which plan is specifically set up for government employees?

  A. 401k plan

  B. 457b plan

  C. 403b plan

  D. nonqualified deferred compensation plan

  Correct Answer: B

• Question 102:

  In what part of a 2020 form w4 does an employee claim dependents?

  A. step 3

  B. writing below step 4c

  C. step 2

  D. dependents are not claimed on form W4

  Correct Answer: A

• Question 103:

  The owners of a company want to set up a retirement program for themselves, but do not want to make contributions on behalf of their employees. all of their employees are under age 30. What can they do?

  A. establish only a 401k plan that restricts eligibility to employees over age 30.

  B. set up nonqualified deferred compensation plan only

  C. establish only a 401k plan that restricts eligibility to employees over age 30, and set up a nonqualified deferred compensation plan.

  D. establish a 403b plan for all employees

  Correct Answer: B

• Question 104:

  During thanksgiving week, a nonexempt employee was paid for the following hours:

  sun- none

  mon- 10 hours worked

  tues- 10 hrs work

  weds- 8 hr sicks day

  thurs- 8 hr holiday

  fri-8 hr vacation

  sat- 8 hr work

  How many overtime hours, if any, did the ee work?

  A. 0 hours

  B. 4 hours C. 12 hours

  Correct Answer: A

• Question 105:

  If an employee provides an invalid form w4, the employer must:

  A. accept the form until the employee completes a new form.

  B. implement the form and notify the IRS

  C. refuse to accept the form

  D. implement the form as is

  Correct Answer: C

• Question 106:

  When an employee begins to receive social security benefits, the employer no longer needs to withhold social security and medicare taxes.

  A. TRUE

  B. False

  Correct Answer: A

• Question 107:

  Every month, all of the following records are reconciled EXCEPT:

  A. payroll liability accounts

  B. master record of payments

  C. payroll bank checking account

  D. validity edits

  Correct Answer: D

• Question 108:

  When an employee is overpaid and the repayment occurs in the same year, the repayment requested is the employee's

  A. net overpayment

  B. gross overpayment

  C. gross overpayment minus social security and medicare tax

  D. gross overpayment minus federal income tax

  Correct Answer: A

• Question 109:

  One of the options in an employee's cafeteria benefit plan is a dependent care flexible spending account. He earmarked $100 per month to the account to pay for child care but spend 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" ab additional benefit

  D. it ill carry over to the next year

  Correct Answer: A

• Question 110:

  Payroll documentation accomplishes all of the following goals EXCEPT:

  A. ensuring uniformity

  B. providing a reference tool

  C. ensuring that procedures are followed

  D. simplifying training

  Correct Answer: C