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National Payroll Institute Payroll Fundamentals 1Exam Sample Questions:

1. The employee-employer relationship is deemed to be severed when:

A) The employee continues to accrue benefits in the organization's pension plan
B) There is no expectation of work to be performed by the employee
C) The employee retains the right to be recalled to work
D) None of the above

2. Which of the following situations would not require an employer to issue a Record of Employment?

A) Employee's earnings fall to 40% of their normal weekly earnings
B) Full-time employee went on 6 weeks' unpaid leave of absence
C) A business is sold and the new owner retains all employees and payroll records with no loss of earnings
D) Employee is laid off and will not be recalled

3. What is the portion of a retiring allowance eligible to be transferred into a Registered Retirement Savings Plan (RRSP) or a registered pension plan (RPP) tax free based on?

A) The employee's wages at the point of receiving the retiring allowance
B) The employee's average earnings from the past five years with the employer and its associated companies
C) The employee's number of years of service with the employer and its associated companies prior to
1996
D) The employee's age plus the employee's average earnings from the past five years with the employer and its associated companies

4. In Block 6 of the Record of Employment, what pay period type is entered for employees who are paid salary plus regularly paid commission?

A) Depends on the pay period frequency
B) Weekly
C) Irregular
D) Monthly

5. PF1 Exam - Net Pay Calculation (Template Worksheet)
Scenario
Diane Lemay works for Monarch Construction in Alberta and earns an annual salary of $49,500.00, paid on a semi-monthly basis.
The company provides its employees with group term life insurance coverage of two times annual salary and pays a monthly premium of $0.62 per $1,000.00 of coverage.
Diane uses her car to meet with clients on company business and receives a taxable car allowance of $50.00 per pay.
The company has a defined contribution pension plan to which Diane contributes 5% of her salary each pay.
Diane also contributes $20.00 to United Way and has $5.00 deducted for her social club membership each pay. She belongs to a union and pays 2% of her salary in union dues per pay period.
Diane's federal and provincial TD1 claim codes are 1. She will not reach the first Canada Pension Plan or Employment Insurance annual maximums this pay period.
Required: Calculate the employee's net pay, following the order of the steps in the net pay template.
EXHIBIT A - Net Pay Template (Fill in all blanks)

STATUTORY DEDUCTIONS

OTHER DEDUCTIONS

Given Data (Reference)

Step 1 - Calculate the employee's gross taxable earnings (GTE) for this pay.
[ _________________________________ ]
Step 2 - Calculate the pensionable earnings (PE).
[ _________________________________ ]
Step 3 - Calculate the insurable earnings (IE).
[ _________________________________ ]
Step 4 - Calculate the net taxable income (CRA) (NTI).
[ _________________________________ ]
Step 5 - Calculate the net taxable income (RQ) (NTI).
[ _________________________________ ]
Step 6 - Calculate Diane's Canada Pension Plan contribution.
[ _________________________________ ]
Step 7 - Calculate Diane's Employment Insurance premium.
[ _________________________________ ]
Step 8 - Calculate Diane's Quebec Parental Insurance Plan premium.
[ _________________________________ ]
Step 9 - Determine Diane's federal income tax.
[ _________________________________ ]
Step 10 - Determine Diane's provincial income tax.
[ _________________________________ ]
Step 11 - Calculate Diane's total deductions (statutory + other).
[ _________________________________ ]
Step 12 - Calculate Diane's net pay.
[ _________________________________ ]