Benefits, is that a thing?
This law ensures confidentiality of patient health information:
ERSA, FMLA, HIPAA FCRA
HIPAA
What are statutory deductions? Example
Made according to federal, state & local legislation: FIT, SIT, SS, Med, Locals*
What form usually determines the amount of taxes to withhold on EE’s checks
1099, W4, W2, R2D2, All above
W4
How often can you pay employees ?
Weekly, Biweekly, Semimonthly, Monthly, All of the above or any consistent period
All of the above or any consistent period
This document proves you are eligible to work in the united states legal
W-4, NJ40, I-9, WR30
I-9
This allows employees who leave a company to continue coverage under company current health plan at a very significant cost:
HIPPA, COBRA, PPO, HMO
COBRA
How you classify deductions elected by employee, not required by law, may be Pre-Tax/Post-Tax
Voluntary Deductions
Which of these is a legitimate payroll tax?
SS Tax, Medicare Tax, FUTA, SUTA, Sales tax
All but Sales Tax
Which of the following is a way/basis you can pay employees?
Salary, Hourly, Piecework, All 3
All 3
What annual wage statement do independent contractors receive at the end of the year?
Contractors Pay, W2, 1099, 940, Total Annual Invoice
1099
Who Worker Compensation is paid by?
State, Employer, Employee, Free
Employer
How you classify deductions not elected by employee, but imposed by law?
Involuntary Deductions
Which tax is usually the highest percentage of paycheck deductions – assuming you are single/0
SS, Medicare, State, Federal, Local
Federal Income Tax
What do you call the final amount EE’s receive after deductions have been taken out of their paycheck? Final Pay, Gross Pay, Payroll, Net Pay, Income
Take Home = Net Pay
What is the Federal Min. Wage for covered non-exempt employees?
$7, $10, $12, $15 or $7.25
$7.25
Not answering this can result in a benefit calculation error?
Do you have fake teeth?, Are you a tobacco user?. Are you right or left handed?
Union Dues, Dental, Vision, Medical Benefits, Retirement Plan, Life Insurance... these are?
Voluntary Deductions
What percentage do all employees contribute for Social Security tax until the limit is reached?
1.45%, 6.2%, 12.4%, 2.9%, 15%
6.2%
Which of the following is not a taxable earning? Regular wage, Commission, Gift of $100, Overtime, Expense Reimbursements
Expense Reimbursements
Which of the following ways can you be paid? And which is the most secure way?
Paycheck, Gold, Stocks, Direct deposit, Pay Card, Bonds
Paycheck, Direct deposit, Pay Card
DD is the most secure
What are legally required benefits?
Employee benefits mandated by law: FMLA, ADA, by state: Sick leave, STD, etc.
All Voluntary deductions are Post-Tax
True or False
False
Deductions part of a 125 Cafeteria Plan and Retirement Contributions (not ROTH) are pre-tax deductions
Which tax do Independent Contractors get deducted from pay?
Only Federal tax, Only State Tax, Only Unemployment tax/ Both Federal and State taxes/ No Tax at all
No Tax at all
When was the 1st Federal Min. wage signed into law and how much was it?
1900/$2, 1925/$1, 1938/25 cents or 1960/$5
1938/25 cents
What 2 forms must every new hire complete when beginning a new job? 1-9, W2, W4, 1&2, 1&3
1&3 (1-9 & W4)