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National Payroll Institute PF1 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Payroll Records and Compliance Reporting | - Recordkeeping requirements
|
| Topic 2: Payroll Fundamentals and Compliance Framework | - Payroll system overview in Canada
|
| Topic 3: Earnings, Deductions, and Taxation | - Deductions and remittances
|
National Payroll Institute Payroll Fundamentals 1Exam Sample Questions:
Phan was employed fromMarch 1, 1992throughJanuary 10, 2007. He was not a member of the organization' s pension plan. Calculate the number of years eligible for the$1,500.00portion of a retiring allowance.
- A. 5
- B. 2
- C. 0
- D. 1
Correct Answer: C 🗳️
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A retiring allowance includes:
- A. Accumulated overtime
- B. Legislated wages in lieu of notice in Quebec
- C. Vacation pay
- D. Bonus or incentive pay
- E. None of the above
Correct Answer: E 🗳️
Explanation: Only visible for DumpsTorrent members. You can sign-up / login (it's free).
The capital cost of an employer-owned vehicle includes:
- A. The cost of the vehicle, vehicle options, accessories, sales tax and additions that add to depreciation value
- B. The cost of the vehicle, vehicle options, specialized equipment to meet requirements of employment
- C. The cost of the vehicle, sales tax, customized heavy-duty suspension and power winches to meet requirement of employment uses
- D. The cost of the vehicle excluding sales tax
Correct Answer: A 🗳️
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An employee has the use of a company-leased vehicle for both business and personal use. This is an example of:
- A. An allowance
- B. A benefit
- C. An earning
- D. An expense reimbursement
Correct Answer: B 🗳️
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Which of the following deductions would be the last payroll withholding in order of priority?
- A. Third Party Demand
- B. Requirement to Pay
- C. Voluntary insurance coverage
- D. The organization's pension plan
Correct Answer: C 🗳️
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