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National Payroll Institute Payroll Fundamentals 1Exam Sample Questions:
1. Ursula is 17 years old, works in Quebec and earns $750.00 weekly. Ursula pays weekly union dues of $18.00 along with a special weekly union assessment of $10.00 for construction of a new union hall for its members.
Ursula also has registered pension plan (RPP) contributions of $20.00 deducted from each pay. Calculate Ursula's net federal taxable income.
2. The deduction for living in a prescribed zone can be claimed by residents of which jurisdictions?
A) New Brunswick, Newfoundland and Labrador, Nova Scotia and Prince Edward Island
B) Alberta, Saskatchewan and Manitoba
C) All Canadian provinces and territories
D) Northwest Territories, Nunavut and Yukon
3. How many pay periods will be used to calculate insurable earnings inBlock 15Bon the Record of Employment if the employee is paidweekly?
A) Last14pay periods (or less if period of employment is shorter)
B) Last27pay periods (or less if period of employment is shorter)
C) Last13pay periods (or less if period of employment is shorter)
D) Last7pay periods (or less if period of employment is shorter)
4. Which pension plan requires the services of an actuary to study and forecast future needs of the plan to ensure the plan remains sufficiently funded to provide employees with their retirement benefits?
A) All of the above
B) Defined contribution pension plan
C) Registered Retirement Savings Plan
D) Defined benefit pension plan
5. Which of the following types of payments made by a private organization would not be subject to all statutory deductions?
A) Performance bonus
B) Retroactive adjustment
C) Directors' fees
D) Vacation pay when no time was taken
Solutions:
| Question # 1 Answer: Only visible for members | Question # 2 Answer: C | Question # 3 Answer: B | Question # 4 Answer: D | Question # 5 Answer: C |
By Maud
