Explain The Fair Labor Standards Act Of 1938 Cpp Quiz

1. What does the Fair Labor Standards Act (FLSA) govern?

Establishes guidelines for workplace safety

Regulates employee compensation and overtime pay

Sets minimum wage standards

Governs record retention for all covered employers.

The Fair Labor Standards Act (FLSA) primarily focuses on regulating record retention for all covered employers. While workplace safety, employee compensation, and minimum wage are important aspects of labor laws, they are not the specific areas governed by the FLSA.

Explanation

The Fair Labor Standards Act (FLSA) primarily focuses on regulating record retention for all covered employers. While workplace safety, employee compensation, and minimum wage are important aspects of labor laws, they are not the specific areas governed by the FLSA.

2. What information should be kept for 3 YEARS after their last date of entry according to FLSA?

Social security number, credit card information, bank account details, passwords, medical records

Name, Home Address, date of birth, sex and occupation, beginning of workweek, hours worked, straight time earnings, premium earnings, deductions, total wages paid each period, date of payment.

Favorite color, shoe size, preferred vacation destination, pet's name, high school mascot

Email address, phone number, driver's license number, passport number, vehicle registration

The correct answer includes essential employee information related to work and wages, while the incorrect answers contain unrelated or unnecessary personal details that are not required to be retained per FLSA guidelines.

Explanation

The correct answer includes essential employee information related to work and wages, while the incorrect answers contain unrelated or unnecessary personal details that are not required to be retained per FLSA guidelines.

3. What records should be kept for 3 YEARS from effective date according to FLSA?

Unused vacation days and sick leave balances.

Employee personal emails and communications.

Collective bargaining agreements, certificates authorizing employment, records showing total sales volume and goods purchased.

Performance evaluations and disciplinary records.

The FLSA requires employers to keep records like collective bargaining agreements, certificates authorizing employment, total sales volume, and goods purchased for 3 years from the effective date to ensure compliance.

Explanation

The FLSA requires employers to keep records like collective bargaining agreements, certificates authorizing employment, total sales volume, and goods purchased for 3 years from the effective date to ensure compliance.

4. What records should be kept for 2 YEARS from their last date of entry (FLSA)?

Social media posts, vacation photos, personal diary entries, grocery shopping lists.

Basic employment and earning records, timecards, customer order/billing records, deduction records.

Handwritten notes, expired coupons, old magazines, junk mail.

Employee attendance sheets, office supplies inventory, meeting agendas, staff emails.

The correct answer includes essential employment and earning records, as well as customer order/billing records and deduction records to comply with FLSA regulations.

Explanation

The correct answer includes essential employment and earning records, as well as customer order/billing records and deduction records to comply with FLSA regulations.

5. What should be kept for 2 YEARS from effective date under FLSA?

Customer reviews and satisfaction surveys.

Tax filings and financial statements.

Employee training records and certifications.

Wage rate tables and piece rate schedules, work time schedules.

Under the Fair Labor Standards Act (FLSA), it is required to keep wage rate tables, piece rate schedules, and work time schedules for 2 years from the effective date for compliance purposes.

Explanation

Under the Fair Labor Standards Act (FLSA), it is required to keep wage rate tables, piece rate schedules, and work time schedules for 2 years from the effective date for compliance purposes.

6. Under the FLSA, record retention also applies to which of the following groups?

Temporary Employees

White Collar Employees, Tipped Employees, Hospital Employees (14 day period authorization letter), Industrial Homeworkers......

Independent Contractors

Seasonal Workers

Record retention requirements under the FLSA apply to various categories of employees based on specific provisions and regulations.

Explanation

Record retention requirements under the FLSA apply to various categories of employees based on specific provisions and regulations.

7. What are the penalties for violating the FLSA?

Community service

Warning letter

$10,000 or 6 months in jail

$5,000 fine

Violating the Fair Labor Standards Act (FLSA) can result in penalties of up to $10,000 in fines or 6 months of imprisonment. This is to ensure employers comply with regulations related to minimum wage, overtime pay, recordkeeping, and youth employment.

Explanation

Violating the Fair Labor Standards Act (FLSA) can result in penalties of up to $10,000 in fines or 6 months of imprisonment. This is to ensure employers comply with regulations related to minimum wage, overtime pay, recordkeeping, and youth employment.

8. What does the Internal Revenue Code (IRC) govern?

Regulates fishing industry guidelines.

Dictates traffic laws in major cities.

Sets standards for professional sports leagues.

Governs records surrounding witholding taxes (Fit, SS, Medicare)

The Internal Revenue Code (IRC) specifically governs records surrounding witholding taxes such as Federal Income Tax (FIT), Social Security (SS), and Medicare. It does not have any jurisdiction over unrelated areas like fishing industry guidelines, traffic laws, or professional sports leagues.

Explanation

The Internal Revenue Code (IRC) specifically governs records surrounding witholding taxes such as Federal Income Tax (FIT), Social Security (SS), and Medicare. It does not have any jurisdiction over unrelated areas like fishing industry guidelines, traffic laws, or professional sports leagues.

9. (IRC) FUTA (Form 940) records must be retained for at least:

2 years after the tax due date

4 years after the tax due date

6 years after the tax due date

10 years after the tax due date

According to IRS regulations, records related to FUTA (Form 940) must be retained for 4 years after the tax due date in order to ensure compliance and facilitate any potential audits or inquiries.

Explanation

According to IRS regulations, records related to FUTA (Form 940) must be retained for 4 years after the tax due date in order to ensure compliance and facilitate any potential audits or inquiries.

10. What are the Electronic Storage System Requirements according to IRC?

Unrestricted access to all users without authorization.

No need for data backup or disaster recovery plans.

Resonable controls to ensure te integrity, accuracy, and reliability of the system.

Regular maintenance of the hardware components.

Electronic Storage System Requirements under IRC focus on maintaining integrity, accuracy, and reliability of the system through reasonable controls. Regular maintenance, unrestricted access, and lack of backup or recovery plans do not align with these requirements.

Explanation

Electronic Storage System Requirements under IRC focus on maintaining integrity, accuracy, and reliability of the system through reasonable controls. Regular maintenance, unrestricted access, and lack of backup or recovery plans do not align with these requirements.

11. What does the Civil Rights Act of 1964 (Title VII) and Equal Employment Opportunity Commission (EEOC) aim to achieve?

Establish regulations for workplace safety standards.

Require employers to provide paid sick leave to employees.

Prohibits employers from discriminating on the basis of race, color, religion, sex, or national origin.

Set guidelines for minimum wage requirements in the workplace.

The Civil Rights Act of 1964 (Title VII) and the Equal Employment Opportunity Commission (EEOC) focus on preventing workplace discrimination based on race, color, religion, sex, or national origin. The act does not address paid sick leave, minimum wage requirements, or workplace safety standards.

Explanation

The Civil Rights Act of 1964 (Title VII) and the Equal Employment Opportunity Commission (EEOC) focus on preventing workplace discrimination based on race, color, religion, sex, or national origin. The act does not address paid sick leave, minimum wage requirements, or workplace safety standards.

12. EEOC requires records regarding hiring, promotion, demotion, transfer, termination, and rates of pay to be retained for:

3 years from the date they were made.

1 YEAR from the date they were made or the date of the personnel action to which they relate, whichever is later.

Indefinitely without any time restrictions.

One month from the date of the personnel action.

EEOC requires records to be retained for 1 year from the date they were made or the date of the personnel action to which they relate, whichever is later. This ensures compliance with regulations and allows for necessary documentation to be maintained for a reasonable period.

Explanation

EEOC requires records to be retained for 1 year from the date they were made or the date of the personnel action to which they relate, whichever is later. This ensures compliance with regulations and allows for necessary documentation to be maintained for a reasonable period.

13. What does the Age Discrimination in Employment Act of 1967 (ADEA) protect individuals from?

Those of 30+ years of age from discrimination.

Those of 50+ years of age from discrimination.

Those of 60+ years of age from discrimination.

Protects those of 40+ years of age from discrimination.

The ADEA specifically protects individuals who are 40 years of age or older from discrimination in the workplace, making the correct answer 'Those of 40+ years of age from discrimination.'

Explanation

The ADEA specifically protects individuals who are 40 years of age or older from discrimination in the workplace, making the correct answer 'Those of 40+ years of age from discrimination.'

14. How long must (ADEA) records be retained?

5 years

2 years

Name, address, dob, occupation, payrate, and comensation each week.

Indefinitely

The Age Discrimination in Employment Act (ADEA) requires that certain employee records be retained for at least 3 years, including specific information such as name, address, date of birth, occupation, pay rate, and compensation each week.

Explanation

The Age Discrimination in Employment Act (ADEA) requires that certain employee records be retained for at least 3 years, including specific information such as name, address, date of birth, occupation, pay rate, and compensation each week.

15. How long must Form I-9, Employment Eligibility Verification, be retained according to the Immigration Reform and Control Act (IRCA)?

Form I-9 must be retained for 2 years from date of hire.

Form I-9 must be retained indefinitely.

Form I-9 must be retained for 5 years from date of hire.

Form I-9, Employment Eligibility Verification, must be retained for 3 YEARS from date of hire or 1 YEAR from date of termination

The correct retention period for Form I-9 is 3 years from the date of hire or 1 year from the date of termination in compliance with the Immigration Reform and Control Act (IRCA).

Explanation

The correct retention period for Form I-9 is 3 years from the date of hire or 1 year from the date of termination in compliance with the Immigration Reform and Control Act (IRCA).

16. What does the Family and Medical Leave Act (FMLA) of 1993 require of employers?

ER's w/ 50 or more ee's must grant up to 12 weeks of unpaid leave to care for a newborn or newly adpoted child, or for themselves or a parent, child, or spouse who has a serious medical condition.

ER's w/ 25 or more ee's must grant up to 6 weeks of paid leave to care for a newborn child.

FMLA only applies to federal government employees and does not cover private sector employees.

Employers are not required to grant any leave under FMLA, it is optional.

Employers with less than 50 employees must provide paid leave for up to 6 weeks for any reason.

The Family and Medical Leave Act (FMLA) of 1993 requires employers with 50 or more employees to grant up to 12 weeks of unpaid leave for specific reasons. It is not required for employers with less than 50 employees, does not cover only federal government employees, and is not a paid leave requirement.

Explanation

The Family and Medical Leave Act (FMLA) of 1993 requires employers with 50 or more employees to grant up to 12 weeks of unpaid leave for specific reasons. It is not required for employers with less than 50 employees, does not cover only federal government employees, and is not a paid leave requirement.

17. (FMLA) What information is required for record retention under the Family and Medical Leave Act?

Dates of leave, any documents describing leave benefits, records of premium payments for benefits, records of any disputes.

Company's profit margins during the leave period

Details of the employee's medical condition

Employee's personal contact information

The Family and Medical Leave Act requires employers to retain records such as dates of leave, documents describing leave benefits, premium payments, and records of disputes. Personal contact information, profit margins, and specific medical conditions are not required for record retention under FMLA.

Explanation

The Family and Medical Leave Act requires employers to retain records such as dates of leave, documents describing leave benefits, premium payments, and records of disputes. Personal contact information, profit margins, and specific medical conditions are not required for record retention under FMLA.

18. What is the legal requirement for unclaimed wages?

Abandoned wages must be reported and remited to the state. (Escheat Law)

Unclaimed wages should be donated to charity.

Unclaimed wages should be distributed among employees as bonuses.

The employer can keep unclaimed wages for themselves.

Unclaimed wages must be reported and remitted to the state as per Escheat Law to prevent the employer from keeping the money or making unauthorized donations or distributions.

Explanation

Unclaimed wages must be reported and remitted to the state as per Escheat Law to prevent the employer from keeping the money or making unauthorized donations or distributions.

19. How long should Direct Deposit Authorization/Designation forms be kept?

Should only be kept for 1 year after termination or revocation.

Must be kept for 2 YEARS from the termination or revocation of the authorization

Must be kept for 6 months regardless of termination or revocation.

Should be kept indefinitely with no time limit specified.

Direct Deposit Authorization/Designation forms should be kept for 2 years from the termination or revocation of the authorization to ensure compliance with record-keeping regulations.

Explanation

Direct Deposit Authorization/Designation forms should be kept for 2 years from the termination or revocation of the authorization to ensure compliance with record-keeping regulations.

20. What does the Health Insurance Portability and Accountability Act (HIPAA) 1996 govern?

Implementation of environmental protection policies

Regulation of food and drug safety

Management of public transportation systems

How confidential patient information is handled (Privacy)

The Health Insurance Portability and Accountability Act (HIPAA) 1996 specifically focuses on the privacy and security of confidential patient information within the healthcare industry.

Explanation

The Health Insurance Portability and Accountability Act (HIPAA) 1996 specifically focuses on the privacy and security of confidential patient information within the healthcare industry.

21. What are the IRC penalties for faulty record keeping?

A warning letter

$25,000 or 1 YEAR imprisonment

Community service

$10,000 fine

The correct answer details the specific penalty outlined by the IRS for faulty record keeping, which is a significant fine or imprisonment. The incorrect answers provide options that do not reflect the severity of the penalties for this offense.

Explanation

The correct answer details the specific penalty outlined by the IRS for faulty record keeping, which is a significant fine or imprisonment. The incorrect answers provide options that do not reflect the severity of the penalties for this offense.