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National Payroll Institute PF1 Exam Syllabus Topics:

National Payroll Institute Payroll Fundamentals 1Exam Sample Questions:

1. Which pension plan requires the services of an actuary to study and forecast future needs of the plan to ensure the plan remains sufficiently funded to provide employees with their retirement benefits?

A) All of the above
B) Defined benefit pension plan
C) Registered Retirement Savings Plan
D) Defined contribution pension plan

2. Charlene receives $50.00 each pay for her meals. This is an example of:

A) None of the above
B) An allowance
C) A benefit
D) A reimbursement

3. Which of the following company-compulsory deductions would reduce the employee's gross taxable income for purposes of withholding income taxes?

A) Employee contributions to a group Registered Retirement Savings Plan (RRSP)
B) Employee payment of a portion of group benefit plan premiums
C) All of the above
D) Employee payment of provincial health care plan premiums

4. A retiring allowance includes:

A) Vacation pay
B) Accumulated overtime
C) Payments in recognition of long service
D) Bonus or incentive pay

5. (PF1 Exam - Net Pay Calculation Template Worksheet: Quebec)
Question ID: pf1-exam-npc-q-f
Mara Poirier works for Affordable Transport in Quebec and earns an annual salary of $54,500.00, paid on a semi-monthly basis.
In addition to her regular salary, Mara's employer provides the following benefits:
Group term life insurance coverage through a third party of two times her annual salary.
Monthly group term life insurance premiums are $0.57 per $1,000.00 of coverage, excluding taxes.
Private health insurance benefits with a monthly premium of $260.00, excluding taxes.
The tax on insurance premiums in Quebec is 9%.
Mara's federal TD1 claim code is 3 and her provincial TP-1015.3-V deduction code is C.
Mara will not reach the annual maximums for QPP, EI, or QPIP in this pay period.
Required: Calculate Mara's net pay, following the order of the steps in the net pay template.
EXHIBIT A - Net Pay Template (Fill in all blanks)
Earnings / Income Bases




Step 1 - Calculate Mara's gross earnings for this pay period (GTE).
[ ____________________________________________ ]
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 Mara's Quebec Pension Plan (QPP) contribution.
[ ____________________________________________ ]
Step 7 - Calculate Mara's Employment Insurance (EI) premium.
[ ____________________________________________ ]
Step 8 - Calculate Mara's Quebec Parental Insurance Plan (QPIP) premium.
[ ____________________________________________ ]
Step 9 - Determine Mara's federal income tax.
[ ____________________________________________ ]
Step 10 - Determine Mara's Quebec provincial income tax.
[ ____________________________________________ ]
Step 11 - Calculate Mara's total deductions.
[ ____________________________________________ ]
Step 12 - Calculate Mara's net pay.
[ ____________________________________________ ]

Solutions: