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Advanced examination information
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National Payroll Institute Payroll Fundamentals 1Exam Sample Questions:
1. Evangeline earns $1,075.00 weekly plus $154.00 in overtime. Calculate Evangeline's Quebec Parental Insurance Plan (QPIP) premium.
2. Steve is physically disabled and his employer pays for his parking spot. This is considered:
A) None of the above
B) A cash taxable benefit
C) A taxable allowance
D) A non-cash taxable benefit
3. Raminder was hired in January 1997. He was fully vested in the organization's pension plan at the time he received the retiring allowance. His employment was terminated on May 1, 2006 and he was paid a
$10,000.00 retiring allowance. Calculate the eligible portion of the retiring allowance.
A) $10,000.00
B) $2,000.00
C) None of the retiring allowance is eligible
D) $7,500.00
4. An employee in Ontario was paid a $25,000.00 retiring allowance. The eligible portion was $15,000.00 and was transferred to the employee's Registered Retirement Savings Plan (RRSP) by the employer. Calculate the income tax on the non-eligible portion.
A) $1,000.00
B) $7,250.00
C) $5,000.00
D) $2,000.00
5. Which statutory deductions is salary continuance subject to?
A) All deductions except Quebec Parental Insurance Plan premiums
B) All deductions
C) All deductions except Employment Insurance and Quebec Parental Insurance Plan premiums
D) All deductions except Employment Insurance premiums
Solutions:
| Question # 1 Answer: Only visible for members | Question # 2 Answer: A | Question # 3 Answer: C | Question # 4 Answer: D | Question # 5 Answer: B |

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