Home
Courses
- Success Path – Supplementary Transcripts
Knowledge Base
Tools & Templates
Log In

Select Page

Foundation CPE Module 4: Payee Setup CPE Module 4 Quiz CPE

Module 4: End of Module Quiz

With Module 4 coming to a close, now is the time to test you to ensure you are making the progress we expect at this point in time.

We will ask you a series of questions that will be related to the information you have learnt so far in the topics we have covered.

This quiz will summarise the topics we have gone over in Module 1. To complete this quiz and move on to Module 2, you must get at least 75% correct.

Time limit: 0

Quiz Summary

0 of 5 questions completed

Questions:

Information

You have already completed the quiz before. Hence you can not start it again.

Quiz is loading…

You must sign in or sign up to start the quiz.

You must first complete the following:

Results

Quiz complete. Results are being recorded.

Results

0 of 5 questions answered correctly

Your time:

Time has elapsed

You have reached 0 of 0 point(s), (0)

Earned Point(s): 0 of 0, (0)
0 Essay(s) Pending (Possible Point(s): 0)

Categories

Course 1, Module 4 0%

You have failed the Quiz for Module 4. Please try again.
You have passed the Quiz for Module 4. Please proceed to Module 5.

1
2
3
4
5

Current
Review
Correct
Incorrect

Question 1 of 5

1. Question
Pursuant to chapter 3 of the Internal Revenue Code, why do payors and withholding agents need to determine the source of income paid to non-U.S. persons?
- Only U.S. source fixed, determinable annual, or periodical income paid to a non-U.S. person is subject to U.S. federal tax withholding and information reporting.
- Sourcing income tells a payor or withholding agent whether to issue a Form W-2.
- U.S. persons are taxed on worldwide income, so there is no need to determine the source of income paid to non-U.S. persons.
- Only non-U.S. source fixed, determinable annual or peridical income paid to a non-U.S. person is subject to U.S. federal Tax withholding and reporting.
Correct

Incorrect
Question 2 of 5

2. Question
What is a payor?
- The person receiving income.
- The person making a payment of income.
- A U.S. person who owns a bank.
- A non-U.S. person who is receiving U.S. source fixed, determinable annual, or periodical income.
Correct

Incorrect
Question 3 of 5

3. Question
Why does a payor or withholding agent collect Forms W-8, W-9, 8233, and Self-Certifications?
- Payors and withholding agent do not collect these forms.
- To determine the source of income they are paying.
- To determine the status of the person a payor or withholding agent is paying as a U.S. or non-U.S. person.
- To let banks know that they intend to request electronic account statements.
Correct

Incorrect
Question 4 of 5

4. Question
Which statement is correct?
- The United States taxes U.S. persons on income earned in the United States only.
- The United States generally taxes U.S. persons on income earned inside and outside of the United States.
- A U.S. person can choose which income the United States taxes as U.S. source income.
- A U.S. person does not pay taxes when traveling.
Correct

Incorrect
Question 5 of 5

5. Question
Select the response which lists all of the forms that could be used by an Individual to certify status as either a U.S. or non-U.S. person, whichever is applicable.
- Forms W-8BEN or W-8BEN-E
- Forms W-8BEN or W-9
- Forms W-8BEN, W-8ECI, 8233 or W-9
- Form W-9
Correct

Incorrect

Company

Legal

Terms and Conditions

stackedregandqasv3

Comply Exchange is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: NASBAregistry.org.