FPC-Remote Exam Questions Get Updated [2024] with Correct Answers
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The FPC exam is designed to test an individual's knowledge in six key areas: payroll concepts, federal taxation, processing payroll, payroll systems and technology, accounting, and compliance. FPC-Remote exam consists of 150 multiple-choice questions and is timed at three hours. The passing score for the FPC exam is 300 out of a possible 500 points. FPC-Remote exam is available in both paper and pencil format as well as computer-based testing.
NEW QUESTION # 44
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
Answer: A
NEW QUESTION # 45
Payroll must withhold federal income tax from:
- A. contributions to 401k plans
- B. contributions to 457b plans
- C. contributions to nonqualified deferred compensation plans
- D. contributions to ROTH 401k plans
Answer: D
NEW QUESTION # 46
An employee was sick the last week in december. his paycheck, dated dec 31, 2020 was held for him until he returned to work on Jan 6, 2021. these wages are taxable:
- A. in 2021
- B. in 2020
Answer: B
NEW QUESTION # 47
What does an employer use to calculate the amount to withhold for an IRS tax levy?
- A. net pay
- B. disposable pay
- C. taxable wages
- D. take home pay
Answer: D
NEW QUESTION # 48
You receive a penalty notice from a government agency. the info is not readily available. what should you do first?
- A. call the agency and tell them you plan to location the info and send it in a few months.
- B. send a short letter to the agency stating that the issues is being reviewed.
- C. ignore the letter because it will take time to location the information.
- D. conduct a thorough investigation and send the report to the agency.
Answer: B
NEW QUESTION # 49
What authority controls the frequency with which employees must be paid?
- A. IRS rules
- B. FLSA rules
- C. Local laws
- D. state laws
Answer: D
NEW QUESTION # 50
Every month, all of the following records are reconciled EXCEPT:
- A. validity edits
- B. payroll bank checking account
- C. payroll liability accounts
- D. master record of payments
Answer: A
NEW QUESTION # 51
Which of the following is the best method of guarding against phantom employees?
- A. monthly bank reconciliation
- B. audit trails
- C. validity edits
- D. physical payout
Answer: D
NEW QUESTION # 52
An employee claims exempt from withholding on his form W4. to continue the exempt status for the next year, a new form W4:
- A. must be filed by dec 31
- B. must be filed by feb 15 of the following year
- C. is invalid if the employee claims more than 10 dependents
- D. is not necessary
Answer: B
NEW QUESTION # 53
For her 10 years of service, an employee was given a gold necklace valued at $100. Which of the following is true?
- A. only federal income tax should be withheld on the fair market value of the award
- B. the gift is tax free
- C. only social security and medicare tax should be withheld on the fair market value of the award
- D. the gift must be included in her taxable compensation
Answer: B
NEW QUESTION # 54
In which type of account (asset, liability, expense or revenue) would each of the following entries appear?
- A. money in a payroll checking account
- B. ss tax and medicare tax withheld but not deposited
- C. wages paid to employees
- D. purchase of computer paper
- E. mortgage on the addition to your building
- F. employer cost of group term life insurance
- G. a new payroll computer
- H. office furnitue
- I. deposit of employer portion of social security tax and medicare tax
Answer: A,B,C,D,E,F,G,H,I
NEW QUESTION # 55
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. it will be added to his taxable income
- B. the amount is forfeited
- C. it ill carry over to the next year
- D. he can use it to "buy" ab additional benefit
Answer: B
NEW QUESTION # 56
When must overtime be paid?
- A. as soon as practically possible
- B. with the next payroll
- C. each week
Answer: A
NEW QUESTION # 57
A record of the business transactions by account is found in the:
- A. journal
- B. chart of accounts
- C. balance sheet
- D. ledger
Answer: D
NEW QUESTION # 58
All of the following statements are correct regarding online processing EXCEPT:
- A. the data to be processed may be abtched
- B. the system is interactive
- C. the data is changed immediately
- D. the operator can communicate with the system as the fata is being processed
Answer: D
NEW QUESTION # 59
When does an exempt W4 expire?
- A. it continues as long as the ee is subject to ss tax
- B. at the end of each quarter
- C. dec 31 each year
- D. Feb 15 of next year
Answer: D
NEW QUESTION # 60
When system generated tools do not agree to batch control totals, what must occur?
- A. continue processing
- B. document the difference and continue processing
- C. delay finding the error until more time is available
- D. finding the cause and correcting the error
Answer: D
NEW QUESTION # 61
Privacy of employee info should be a top priority of the payroll manager, but not necessarily a top priority of the payroll staff.
- A. true
- B. false
Answer: B
NEW QUESTION # 62
A receptionist has agreed to work afternoons at the company until the company can find a full time replacement. what is the receptionists status?
- A. independent contractor under reasonable basis
- B. employee
- C. independent contractor under common law
Answer: B
NEW QUESTION # 63
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, and set up a nonqualified deferred compensation plan.
- B. set up nonqualified deferred compensation plan only
- C. establish only a 401k plan that restricts eligibility to employees over age 30.
- D. establish a 403b plan for all employees
Answer: B
NEW QUESTION # 64
which of the following plans applies only to employees of public schools, colleges and universities, and public charities?
- A. 403b
- B. both b and c
- C. 457b
- D. 401k
Answer: A
NEW QUESTION # 65
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APA FPC-Remote exam is administered by the American Payroll Association (APA) and is recognized as a prestigious certification in the payroll management industry. Fundamental Payroll Certification certification demonstrates a candidate's competence in fundamental payroll principles and practices and signifies their commitment to staying up-to-date with the latest payroll compliance requirements. Fundamental Payroll Certification certification is also a valuable asset for professionals who are seeking career advancement opportunities in the payroll management field.
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