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| Section | Objectives |
|---|---|
| Topic 1: Payroll Records and Compliance Reporting | - Government reporting
|
| Topic 2: Earnings, Deductions, and Taxation | - Types of earnings
|
| Topic 3: Payroll Fundamentals and Compliance Framework | - Payroll system overview in Canada
|
1. 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
2. An employee-employer relationship is deemed to exist when:
A) The employee refuses the right to be recalled to work
B) There is no expectation of work to be performed by the employee
C) The employee continues to accrue benefits in the organization's pension plan
D) The employee continues to participate in some of the benefit plans that were available while they were employed
3. Which of the following types of payments made by a private organization would not be subject to all statutory deductions?
A) Retroactive adjustment
B) Directors' fees
C) Performance bonus
D) Vacation pay when no time was taken
4. The authorization for hiring form should contain a checklist to ensure the organization obtains all required information. What is an example of an item that could be on that checklist?
A) All of the above
B) A benefit enrollment form
C) A completed T1213
D) A clearance certificate
5. Duncan Drapak was employed in Ontario. Upon termination of his employment, he will be paid $7,760.00 legislated wages in lieu of notice together with his final weekly pay of $875.00. Calculate Duncan's Canada Pension Plan (CPP) contribution if the yearly maximum contribution will not be exceeded.
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: C | Question # 3 Answer: B | Question # 4 Answer: B | Question # 5 Answer: Only visible for members |
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