GA Masters Plumbing Exam ACTUAL
QUESTIONS AND CORRECT ANSWERS
Who pays state and federal unemployment taxes? - Correct answers✔the employer
Georgia requires the employer to pay the first ________% of the first $________ in wages and
decreases depending on experience. - Correct answers✔2.7;8500
The Feds take ________% of the first $__________ in wages paid. - Correct
answers✔.8%(.008); 7000
If your quarterly liability exceeds $________, you are required to remit the tax to the Feds
during the month following the end of the quarter. - Correct answers✔500
FICA is _______________ and __________________. - Correct answers✔Social
Security;Medicare
FICA is 12.4% for Social security and 2.9% for Medicare. The employer pays _______ and the
employee pays _____________. - Correct answers✔1/2;1/2
The form used to request an Employer Identification Number (EIN) is.... - Correct answers✔SS-
4
Insurance that protects your company against claims for bodily injury to people who are not
employees of your company, claims for damage to property belonging to someone other than
your company, claims when accidents happen either on the premises or away from the premises
during business operations. - Correct answers✔Comprehensive General Liability Insurance
(CGL)
, The final authority on Plumbing Code issues in Georgia. - Correct answers✔the Court System
(not the plumbing board, remember, misdemeanors and such)
Where are business licenses required to be procured? - Correct answers✔In the city or county
where the business is located (don't have to have one everywhere you do business)
In a bookkeeping system bills received but not yet paid are called ______________ entries. -
Correct answers✔accrual
Gross profit is calculated by subtracting ___________ and _________ from revenue. - Correct
answers✔material;labor (net profit comes after overhead is subtracted, very important
distinction)
Georgia sales and use tax collected should be sent where? - Correct answers✔Georgia
Department of Revenue
What form is for protecting employers from hiring illegal aliens? - Correct answers✔I-9
What does workers compensation insurance cover? - Correct answers✔Liability to the employer
from injuries sustained by employees on the job
Who pays for workers' compensation insurance? - Correct answers✔the employer
Workers compensation for an injury will be paid only if the employee has notified the employer
within ____________days. - Correct answers✔30
QUESTIONS AND CORRECT ANSWERS
Who pays state and federal unemployment taxes? - Correct answers✔the employer
Georgia requires the employer to pay the first ________% of the first $________ in wages and
decreases depending on experience. - Correct answers✔2.7;8500
The Feds take ________% of the first $__________ in wages paid. - Correct
answers✔.8%(.008); 7000
If your quarterly liability exceeds $________, you are required to remit the tax to the Feds
during the month following the end of the quarter. - Correct answers✔500
FICA is _______________ and __________________. - Correct answers✔Social
Security;Medicare
FICA is 12.4% for Social security and 2.9% for Medicare. The employer pays _______ and the
employee pays _____________. - Correct answers✔1/2;1/2
The form used to request an Employer Identification Number (EIN) is.... - Correct answers✔SS-
4
Insurance that protects your company against claims for bodily injury to people who are not
employees of your company, claims for damage to property belonging to someone other than
your company, claims when accidents happen either on the premises or away from the premises
during business operations. - Correct answers✔Comprehensive General Liability Insurance
(CGL)
, The final authority on Plumbing Code issues in Georgia. - Correct answers✔the Court System
(not the plumbing board, remember, misdemeanors and such)
Where are business licenses required to be procured? - Correct answers✔In the city or county
where the business is located (don't have to have one everywhere you do business)
In a bookkeeping system bills received but not yet paid are called ______________ entries. -
Correct answers✔accrual
Gross profit is calculated by subtracting ___________ and _________ from revenue. - Correct
answers✔material;labor (net profit comes after overhead is subtracted, very important
distinction)
Georgia sales and use tax collected should be sent where? - Correct answers✔Georgia
Department of Revenue
What form is for protecting employers from hiring illegal aliens? - Correct answers✔I-9
What does workers compensation insurance cover? - Correct answers✔Liability to the employer
from injuries sustained by employees on the job
Who pays for workers' compensation insurance? - Correct answers✔the employer
Workers compensation for an injury will be paid only if the employee has notified the employer
within ____________days. - Correct answers✔30
