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Question # 61

Employees are eligible for all of the following benefits through the Railroad Retirement Tax Act EXCEPT:

Options:

A.  

Disability pay

B.  

Retirement

C.  

Survivor

D.  

Workers’ compensation

Discussion 0
Question # 62

An employer who improperly classifies a worker ' s status as an independent contractor may be subject to penalties assessed by the:

Options:

A.  

DOL

B.  

FTC

C.  

ICE

D.  

IRS

Discussion 0
Question # 63

The following considerations are requirements for qualified small employer health reimbursement arrangements (QSEHRA) EXCEPT:

Options:

A.  

limiting the amount to roll over.

B.  

providing the same terms to all eligible employees.

C.  

funding by employee salary reduction contributions.

D.  

reimbursing employees for individual health insurance premiums.

Discussion 0
Question # 64

What is a comparison between the balance of a ledger account for union dues and the details of that balance?

Options:

A.  

A journal

B.  

An accrual

C.  

A trial balance

D.  

A reconciliation

Discussion 0
Question # 65

According to ACH Operating Rules, the following employee information is part of a " single entry reversal " EXCEPT:

Options:

A.  

Account type

B.  

Routing number

C.  

Account number

D.  

Partial deposit amount

Discussion 0
Question # 66

The IRS will reconcile the following amounts on Forms 941 and Form W-3 EXCEPT:

Options:

A.  

Medicare wages and tips.

B.  

social security tax withholding.

C.  

social security wages and tips.

D.  

federal income tax withholding.

Discussion 0
Question # 67

A payroll system RFP includes all of the following elements EXCEPT:

Options:

A.  

reporting requirements.

B.  

level of system and implementation support.

C.  

number of state and local reporting jurisdictions.

D.  

communication to employees regarding the new system selected.

Discussion 0
Question # 68

When implementing a payroll system update, it is important to perform all EXCEPT:

Options:

A.  

Verifying system security

B.  

Updating company policies

C.  

Verifying control procedures

D.  

Updating system documentation

Discussion 0
Question # 69

An employee has total YTD supplemental wages in the amount of $1,000,000.00 and receives a $55,000.00 net bonus. The employee lives and works in a state that has a 5% supplemental withholding rate. Calculate the gross amount of the employee’s bonus.

Options:

A.  

$77,848.55

B.  

$97,259.06

C.  

$98,831.99

D.  

$111,223.46

Discussion 0
Question # 70

An employee with total YTD Medicare wages of $195,456.00, receives a gross bonus of $10,000.00.

Calculate the Medicare taxes, if any, to be withheld.

Options:

A.  

$0.00

B.  

$145.00

C.  

$194.10

D.  

$235.00

Discussion 0
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