Texas Payroll Conference

Transcription

1 Texas Payroll Conference Preparing for the CPP and FPC Exams Holly Graham, CPP

2 Agenda Benefits of the CPP & FPC Eligibility & Application Exam Structure Study Resources Test Strategies What to Study Registration & Exam Preparation

3 Benefits of Certification CPP or FPC Recognition that you have proven proficiency in all aspects of: - Payroll Accounting - Payroll Calculations - Payroll Systems - Human Resources/Benefits - Taxation & tax reporting Accredited professional certification Increases marketability

4 Which Exam to Take?? CPP Designed for: Intermediate & Advanced Level Payroll Professionals Career Payroll Professionals Recognition for those who have achieved the highest level of payroll professionalism. CPP based on knowledge and experience Must meet eligibility requirements FPC Designed for: Entry Level Payroll Practitioners Sales Professionals/Consultants Systems Analysts/Engineers writing programs Payroll Service Provider s Client Representatives FPC based on knowledge, NOT experience Comprehensive coverage of Payroll fundamentals No (occupational) eligibility requirements

5 Eligibility & Application CPP 1. Has practiced Payroll 3 of the last 5 years 2. Employed in payroll practice for the last 2 years & has completed specified APA courses 3. Employed in Payroll practice for last 18 months, has obtained FPC and has completed specified APA courses within last 18 months FPC 1. Open to all who wish to demonstrate a baseline of payroll competency.

6 Exam Content CPP 27% - Core Payroll Concepts 21% - Compliance 20% - Paycheck Calculations 9% - Payroll Process & Systems 6% - Accounting 10% - Management & Administration 7% - Audits FPC 40% - Core Payroll Concepts 20% - Compliance 22% - Paycheck Calculations 2% - Payroll Process & Systems 7% - Payroll Administration and Management 5% Audits 4% - Accounting

7 Exam Structure CPP 190 Multiple Choice Questions 2 Forms of the exam per testing window 25 Pre-Test Questions 4-Hour Exam Fall/Spring Testing Cycle Computer Based Test Offered at SA & LV Learning Centers after PR 201 course FPC 150 Multiple Choice Questions 2 Forms of the exam per testing window 25 Pre-Test Questions 3-Hour Exam Fall/Spring Testing Cycle Computer Based Test Offered at SA & LV Learning Centers after PR 101 course

8 Exam Dates Fall September 14 October 12, 2013 Reservations from July 9 October 11, 2013 Spring March 29 April 26, 2014 Reservations from January 29 April 25, 2014 Material tested on during these dates is based on laws & regulations as of January 1, 2013.

9 Study Resources Books - The Payroll Source (APA) - Principles of Payroll Administration (RIA) Circular E (Pub. 15, 15A, and 15B) Knowledge Assessment Calculator (KAC) - Preparing for the CPP Exam - Preparing for the FPC Exam Formal Classes - Chapter Study Classes or Groups - PPLS (Payroll Professional Learning Series) Internet Online study groups

10 Testing Strategies Read carefully! - Make sure you read all of the questions and answers twice - Do all calculations twice Make sure you know what you are calculating Beware of key words and terms Be careful of questions that use the following words: - BEST, NOT, ALWAYS, MUST, EXCEPT and NEVER Answer questions based on federal law not your company policy

11 Testing Strategies continued Eliminate the answers you know are incorrect Don t get stuck on a question - Flag it and come back to it - Keep your momentum going Answer all the questions they all count! - Don t leave questions blank, guess if you have to Do not second guess yourself! - Only change a previously selected answer if you are 100% sure it was wrong Memory Tricks Simple Simon Marries Tooth Fairy/Weird Thomas Freezes Worms

12 Testing Strategies continued Major Accounts Used in Business Account Assets Liabilities Capital Revenue Expenses Normal Balance Debit Credit Credit Credit Debit

13 What Do I Study? Calculations, Calculations, Calculations! Definitions - Gross wages, regular rate of pay, disposable pay, net pay Accounting Terms - Debit, Credit, Balance Sheet, Income Statement, Statement of Returned Earnings, accounting concepts Forms W-2 (W-2 box 12 codes), W-3, W-4, W-5, W-9, 940, 941, 668-W, 668-D, 1099-MISC Deferred Income, Garnishments, Mgmt Theory Agencies Who oversees what and can apply what penalties

14 Exam Fees CPP $ per candidate Fees must be paid at time of reservation by phone, online, or fax Electronic check, credit card, or voucher No payment at test center FPC $ per candidate Fees must be paid at time of reservation by phone, online, or fax Electronic check, credit card, or voucher No payment at test center

15 Exam Registration To set up account Go to or call (800) To register for an exam date you need - Account - Name of Test - Test Center Location - Date & Time - Payment MUST PREPAY! Confirmation check it and save it!! Cancellation/Reschedule Refunds given only if notified 1 day (24 hours) before exam date.

16 Exam Preparation Start your course of study at least 3 months prior to testing DON T CRAM! Register early Get a good night s rest Know where the test center is located Arrive at least 30 minutes prior to your scheduled exam time Remember what law year is being tested Practice taking the test

17 PRACTICE QUESTIONS

18 During the Exam Relax!!!! Believe in Yourself You can do it! Breathe, Breathe, Breathe

19 After the Exam You will receive your test results before you leave the test center A minimum scaled score of 300 is required to pass the exam Your results will not be shared with anyone, unless you so designate If you don t pass, don t despair If you sit for the exam in the Fall and do not pass, remember you will use the same study material for the Spring exam If you do not pass, your study efforts are not wasted!

20 RECERTIFICATION CPP 5-Year period to recertify 120 Qualifying Recertification Credit Hours (RCH s) to recertify Retake Exam FPC 3-Year period to recertify 60 Qualifying Recertification Credit Hours (RCH s) to recertify Retake Exam

21 Thank You! Please fill out your evaluations and turn them in before you leave Have a GREAT conference! Holly Graham, CPP (713) grahamh@stthom.edu