Free National Payroll Institute PF1 Exam Questions

Question 1

Rosa joined Avion Electronics in April 1983. Her employment was terminated on November 30, 2015 and she was paid a $62,500.00 retiring allowance. Rosa joined her company’s pension plan in 1986 and was fully vested on termination of employment. Calculate the non-eligible portion of the retiring allowance.

A : $30,500 non-eligible portion

B : $31,250 non-eligible portion

C : $32,000 non-eligible portion

D : $33,500 non-eligible portion

Answer: C

Question 2

Ronda earns $12.50 per hour and worked 40 hours this week. Calculate her Canada Pension Plan (CPP) contribution for this weekly pay period.

A : $23.18

B : $25.75

C : $27.40

D : $29.90

Answer: B

Question 3

Rosa joined Avion Electronics in April 1983. Her employment was terminated on November 30, 2015 and she was paid a $62,500.00 retiring allowance. Rosa joined her company’s pension plan in 1986 and was fully vested on termination of employment. Calculate the non-eligible portion of the retiring allowance.

A : $30,500 non-eligible portion

B : $31,250 non-eligible portion

C : $32,000 non-eligible portion

D : $33,500 non-eligible portion

Answer: C

Question 4

Evangeline earns $1,075.00 weekly plus $154.00 in overtime. Calculate Evangeline’s Québec Parental Insurance Plan (QPIP) premium.

A : (employee QPIP premium for the week): $4.72

B : (employee QPIP premium for the week): $5.28

C : (employee QPIP premium for the week): $6.03

D : (employee QPIP premium for the week): $6.89

Answer: B

Question 5

Ronda earns $12.50 per hour and worked 40 hours this week. Calculate her Canada Pension Plan (CPP) contribution for this weekly pay period.

A : $23.18

B : $25.75

C : $27.40

D : $29.90

Answer: B