Podcast
Questions and Answers
What is the penalty for failing to file timely Florida Unemployment Compensation Reports?
What is the penalty for failing to file timely Florida Unemployment Compensation Reports?
How long must the I-9 form be retained after an employee quits?
How long must the I-9 form be retained after an employee quits?
What is the total payment for an employee earning $10/hr. who works a 50-hour week?
What is the total payment for an employee earning $10/hr. who works a 50-hour week?
If a company has $100,000 in cash and $32,000 in Accounts Receivable with $450,000 in Current Liabilities, what is the maximum bond limit if total liabilities are considered?
If a company has $100,000 in cash and $32,000 in Accounts Receivable with $450,000 in Current Liabilities, what is the maximum bond limit if total liabilities are considered?
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Under the Americans with Disabilities Act, what is the status of pre-employment medical examinations?
Under the Americans with Disabilities Act, what is the status of pre-employment medical examinations?
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Which of the following best describes the co-insurance clause in property insurance?
Which of the following best describes the co-insurance clause in property insurance?
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What amount will an insurance company pay if a fire causes a $20,000 loss on a property insured for $120,000 with an 80% co-insurance clause on a $200,000 building?
What amount will an insurance company pay if a fire causes a $20,000 loss on a property insured for $120,000 with an 80% co-insurance clause on a $200,000 building?
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A contractor's penalty for violating OSHA standards can result in what type of response?
A contractor's penalty for violating OSHA standards can result in what type of response?
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How many calendar years must injury and illness records be retained according to OSHA regulations?
How many calendar years must injury and illness records be retained according to OSHA regulations?
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Within how many days must a recordable incident be entered into the log?
Within how many days must a recordable incident be entered into the log?
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What does the acronym OSHA stand for?
What does the acronym OSHA stand for?
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How soon must accidents resulting in a loss of eyes or amputation be reported after learning of the incident?
How soon must accidents resulting in a loss of eyes or amputation be reported after learning of the incident?
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According to public law 91-596 and 29 CFR 1904 OSHA’s recordkeeping rule, for how many years must information in form 301 be kept?
According to public law 91-596 and 29 CFR 1904 OSHA’s recordkeeping rule, for how many years must information in form 301 be kept?
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What is the maximum civil penalty for willful or repeated violations according to OSHA standards?
What is the maximum civil penalty for willful or repeated violations according to OSHA standards?
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When does common law indemnity apply?
When does common law indemnity apply?
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How frequently must contractors update records of workplace injuries according to OSHA guidelines?
How frequently must contractors update records of workplace injuries according to OSHA guidelines?
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What is the valid registration period for a properly registered fictitious name?
What is the valid registration period for a properly registered fictitious name?
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Which department has jurisdiction over dredging or excavation of navigable waters and wetlands?
Which department has jurisdiction over dredging or excavation of navigable waters and wetlands?
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Which form is used to apply for sales tax?
Which form is used to apply for sales tax?
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Which statement is NOT true about fictitious name registration?
Which statement is NOT true about fictitious name registration?
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Which option reflects a responsibility of a business manager regarding planned results?
Which option reflects a responsibility of a business manager regarding planned results?
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Which of the following forms is NOT a required tax form for businesses?
Which of the following forms is NOT a required tax form for businesses?
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What is a general characteristic of an S corporation?
What is a general characteristic of an S corporation?
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Which entity typically oversees OSHA standards for contractors?
Which entity typically oversees OSHA standards for contractors?
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Study Notes
OSHA Regulations and Compliance
- Injury and illness records must be retained for 5 years after the year they pertain to.
- Recordable incidents must be logged within 7 days of learning about the occurrence.
- OSHA stands for Occupational Safety and Health Administration.
- Accidents resulting in loss of eyes or amputation must be reported within 8 hours.
- Employers must maintain information in Form 301 for 5 years according to OSHA’s recordkeeping rule.
- Maximum civil penalties for willful or repeated violations can reach $134,937.
Insurance and Indemnity
- Common law indemnity applies when the benefit party is not guilty.
- For a fire loss of $20,000, due to an 80% coinsurance clause on a building worth $200,000, the insurance payout is $15,000.
- Assessing bonding capacity with $100,000 cash, $32,000 accounts receivable, and $450,000 accrued earned income receivable leads to a likely maximum bond limit of $1,320,000.
Employment Records and Obligations
- The I-9 form for a laborer employed from September 1990 to July 1991 must be retained until September 1994.
- Delinquent Florida Unemployment Compensation Reports incur a penalty of $100 per month.
- Under the Americans with Disabilities Act, pre-employment medical examinations are prohibited.
Payroll and Taxation
- An employee earning $10/hr for a 50-hour week earns a total payment of $550.
- Registered fictitious names are valid for 5 years.
- Jurisdiction over dredging or excavation of navigable waters and wetlands is held by the U.S. Army Corps of Engineers.
- The form used to apply for sales tax is DR-1.
- Fictitious name registration must be renewed between July 1 and December 31 of the expiration year.
Tax Responsibilities
- Making sure results align with planned outcomes falls under the controlling responsibilities of the business manager.
- Correct examples of required tax forms include form 941 for employer annual unemployment tax returns.
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Description
Test your knowledge of OSHA regulations regarding injury and illness record retention. This quiz covers important timelines and definitions you need to know for compliance. Review your understanding of key OSHA standards and requirements.
