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National Payroll Institute Payroll Fundamentals 1Exam Sample Questions:

1. A 900-series Social Insurance Number is issued to:

A) Landed immigrants working outside of Canada
B) Canadian residents with an expired Social Insurance Number
C) Canadian residents working outside of Canada
D) Individuals who are neither Canadian citizens nor permanent residents

2. In which province or territory is the employer-paid premium for private health insurance coverage that includes dental and prescription coverage considered to be a non-cash taxable benefit?

A) Ontario
B) Quebec
C) British Columbia
D) Yukon

3. The source deductions form completed by all new employees in Quebec is called:

A) T1213
B) TP-1015.3-V
C) T2222
D) TD1-AB

4. 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.
[ _________________________________ ]

5. An employee-employer relationship is deemed to exist when:

A) The employee continues to accrue benefits in the organization's pension plan
B) The employee refuses the right to be recalled to work
C) There is no expectation of work to be performed by the employee
D) The employee continues to participate in some of the benefit plans that were available while they were employed

Solutions: