Fundamental Payroll Certification (FPC) Exam Questions & Answers, Exams of Business Economics

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Fundamental Payroll

Certification (FPC)

Exam Questions &

Answers(GRADED A)

Fundamental Payroll Certification (FPC) - ANSWER Payroll certification opens many doors for payroll professionals. The wealth of knowledge covered on the Fundamental Payroll Certification exam, even if it doesn't fit what you are doing today, is immeasurable for your future. Not only does this designation help secure promotions and demonstrate your value to your organization - it enhances your standing within the entire payroll profession. The FPC Examination is administered electronically,and candidates have three (3) hours to complete it. The examination consists of 150 multiple-choice questions, including twenty-five (25) that are pre-test questions. With a passing score of 300 on their weighted scale, you can request a certificate and pin that designate your successful completion of the certification process. FPC Exam Content Outline - ANSWER Core Payroll Concepts 29% Worker Status Fair Labor Standards Act Employment Taxes Employee Benefits Employee / Employer Forms Professional Responsibility Methods and Timing of Pay Compliance / Research and Resources 17%

Escheatment Legislative and Regulatory Requirements Reporting Record Retention Penalties Global Calculation of the Paycheck 24% Compensation / Benefits Fringe Benefits Involuntary Deductions / Taxes Voluntary Deductions Employer Taxes and Contributions Total Payroll Payroll Process and Supporting Systems and Administration 7% Maintain master file components Concepts and Functionalities Business Continuity Plan Payroll Administration and Management 7% Policies and Procedures Intradepartmental Agreements Customer Service and Communication Audits 8% Internal Controls Payroll System Controls Accounting Systems Controls Audit Policies and Procedures Accounting 8% Financial Reporting Accounting Principles

Payroll Journal Entry Account Reconciliation What are the benefits of FPC certification? - ANSWER Skill development: Employees with the FPC certification have a greater understanding of payroll laws, regulations, and best practices that can help them finish more quickly. This allows companies to streamline their payroll processes and reduce their costs. Professional advancement: Earning an FPC certification can help you prepare for more advanced certifications like the CPP. It offers you a competitive edge when applying for jobs and networking with peers in the industry. Demonstrated dedication: Earning this certification demonstrates that you have a solid understanding of basic payroll knowledge and can accurately calculate employee wages. Introduction to the payroll industry: Since no eligibility requirements exist, you can use FPC certification to learn the skills and practices required within the payroll field. This can help you advance your career or transition into a new role. Under the FLSA, what type of pay is included in a nonexempt employee's regular rate of pay calculation? A.paid vacation leave B.paid sick leave C.discretionary bonuses D.production bonuses - ANSWER Answer: D You receive a letter of inquiry concerning an employee. What should you do? A.follow your companys policy on the release of employee info B.ignore the letter becuase its the employees issue C.send a short letter to the agency stating that the issue is being reviewed. D.call the requested and tell them you plan to locate the info and send it in a few months.` - ANSWER Answer: B For a payment after the employees death in the year AFTER the death, what taxes, if any, will be withheld? A.federal income tax only

B.social security and medicare taxes only C.federal income and social security and medicare taxes D.no taxes will be withheld - ANSWER Answer: D All of the following types of records can be combined with payroll data in an integrated system except: A.personnel B.benefits C.purchasing D.human resources - ANSWER Answer: C 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 - ANSWER Answer: C 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 - ANSWER Answer: A Which of the following types of accumulators, which one accumulates values over a period of time? A.segment accumulator B.balance accumulator C.compunding accumulator D.composite accumulator - ANSWER Answer: B

You can get the latest Fundamental Payroll Certification (FPC) FPC-REMOTE Exam Questions from PassQuestion which comprehensively cover all the important topics that are tested in the exam. - ANSWER https://www.passquestion.com/fpc-remote.html