1. Contributions to FSAs in excess of what annual amount are treated as taxable income? A. $1,930 B. $2,700 C. $1,660 D. $2,370 2. Over ________ of U.S. employees report that fringe benefits affect...

1. Contributions to FSAs in excess of what annual amount are treated as taxable income? A. $1,930 B. $2,700 C. $1,660 D. $2,370 2. Over ________ of U.S. employees report that fringe benefits affect their choice of employers. A. 25% B. 10% C. 40% D. 50% 3. ________ is the price that a person would pay for an item in an arm's length transaction. A. De Minimis B. Fair Market Value C. Manufacturer's Suggested Retail Price D. General valuation 4. According to Consumer Credit Protection Act, what is a limit on the amount of a garnishment for consumer credit? A. It may be 75% of the employee’s disposable income. B. It cannot exceed 25% of an employee’s disposable income. C. It must be a minimum of 10% of an employee’s annual salary. D. It must be less than 50% of an employee’s gross earnings. 5. Which of the following is true about 401(k) retirement plans? A. 401(k) plans are exempt from all payroll taxes. B. All 401(k) plans are cafeteria plans. C. 401(k) plans always reduce income tax liability. D. 401(k) plans are usually subject to FICA taxes.