FPC study plan
FPC · Give each week a clear focus.
8 weeks · About 6 hours per week
Core Payroll Concepts & Payroll Calculations and Processing
Define the core payroll vocabulary (gross pay, net pay, taxable wages, withholding, employer vs employee taxes) in your own words
Distinguish employees from independent contractors using common-law and IRS behavioral/financial/type-of-relationship factors
Compute gross pay for hourly, salaried, and piece-rate workers across weekly, biweekly, semimonthly, and monthly pay cycles
Calculate employee and employer FICA (Social Security and Medicare) on a set of wage amounts, including the wage base cap
Your checkpoint
A 40-term personal glossary plus 10 fully worked gross-to-net problems showing each calculation step
Payroll Calculations and Processing
Apply FLSA overtime rules to compute the regular rate of pay when bonuses, commissions, and shift differentials are present
Calculate overtime for tipped employees, including tip credit and dual-rate situations
Sequence involuntary deductions (tax levies, child support, creditor garnishments) using the required priority order and disposable earnings limits
Solve multi-step net pay problems that combine overtime, pre-tax deductions, and post-tax deductions
Your checkpoint
A timed 20-question calculation set completed at 80% or better, with a written explanation of every missed item
Core Payroll Concepts & Compliance and Payroll Law
Classify pay components as taxable or nontaxable wages, including fringe benefits, expense reimbursements, and third-party sick pay
Differentiate statutory deductions from voluntary deductions and identify which require written authorization
Explain the purpose of Form W-4 and how filing status, dependents, and extra withholding affect federal income tax withholding
Compare the wage-bracket and percentage methods of federal income tax withholding and select the correct method for a given pay frequency
Your checkpoint
A two-column taxable/nontaxable reference table plus 15 scenario classifications each justified in one sentence
Compliance and Payroll Law
Summarize FLSA minimum wage, child labor, and equal pay requirements and identify where state law is stricter than federal
Outline employer recordkeeping obligations, including which records to retain and for how long
Describe Form I-9 completion, retention, and reverification timelines
Identify wage payment and payday notice requirements that vary by state
Your checkpoint
A midpoint practice test of 60 mixed questions scored at 75% or higher with a categorized error log
Compliance and Payroll Law & Payroll Administration and Systems
Determine federal tax deposit frequency (monthly vs semiweekly) using the lookback period and apply the next-day deposit rule
Map due dates and filing requirements for Forms 941, 940, W-2, W-3, and 1099-NEC
Describe EFTPS enrollment and the penalties associated with late deposits and late filings
Explain year-end reconciliation steps from payroll register totals to W-2 box amounts
Your checkpoint
A deposit and filing due-date calendar applied to 12 different employer scenarios
Payroll Administration and Systems
Diagram the flow of payroll data from time capture through the master file to the pay register and general ledger
Design internal controls that detect and prevent payroll fraud, duplicate payments, and ghost employees
Evaluate payroll system options and describe parallel testing and conversion steps when changing systems
Plan for payroll data security, confidentiality, backup, and disaster recovery, including multi-state and multi-entity payroll setup
Your checkpoint
A one-page process map plus a 15-item internal control checklist covering input, processing, and output controls
Core Payroll Concepts & Compliance and Payroll Law & Payroll Calculations and Processing & Payroll Administration and Systems
Re-attempt every missed question from prior weeks and explain the correct reasoning aloud
Solve integrated scenarios that combine compliance rules with calculations and system administration steps
Practice time management by completing question blocks at exam pace
Rank remaining weak areas and build a targeted two-week remediation list
Your checkpoint
A full-length practice exam scored at 80% or better accompanied by a ranked weak-area remediation list
Core Payroll Concepts & Compliance and Payroll Law & Payroll Calculations and Processing & Payroll Administration and Systems
Drill formula fluency (regular rate, overtime, FICA, disposable earnings) until recall is automatic
Review the glossary, taxable/nontaxable table, deposit calendar, and control checklist in three short passes
Retake the two lowest-scoring practice sections and confirm improvement
Confirm exam logistics and complete a final timed simulation under test-day conditions
Your checkpoint
One-page formula and due-date cheat sheet plus a final practice exam scored at 85% or better
Milestones
Week 2: Score 80% or higher on the 20-question calculation set and can compute overtime with a bonus without referencing notes
Week 4: Score 75% or higher on the 60-question midpoint test with no domain below 70%
Week 6: Can produce a deposit due date for monthly and semiweekly depositors and explain lookback period logic from memory
Week 8: Score 85% or higher on the final practice exam with all four domains at or above 80%