Bookkeeping Certification — Practice Exam
Payroll: practice questions
Our Bookkeeping bank has 12 questions on this topic. Here are 3 of them with answers; the full mock exam draws from every topic, like the real one.
Question 1
What is the employee's share of Medicare tax?
- 1.45% of all wages
- 2.9%
- 6.2% up to a limit
- 0.9% on all wages
Show the answer
A. 1.45% of all wages — An additional 0.9% applies on wages above $200,000 (employee only).
Question 2
What is the combined FICA rate withheld from an employee earning below the Social Security wage base?
- 6.2%
- 1.45%
- 15.3%
- 7.65%
Show the answer
D. 7.65% — 6.2% + 1.45%.
Question 3
Which form does an employer give employees after year-end showing wages and taxes withheld?
- Form W-2
- Form W-9
- Form W-4
- Form 940
Show the answer
A. Form W-2 — Copies go to the SSA as well.