Online Access Free PF1 Exam Questions

Benefits are:

• A.Dollar amounts the employer pays for the work an employee performs
• B.Dollar amounts paid to employees to cover expenses that they incur while performing their job
• C.Dollar amounts paid to employees for the use of their personal property for business purposes
• D.Values attributed to something the employer has either provided to an employee or paid for on an employee's behalf

Dollar amounts that are paid to an employee to cover expenses that they incurred while performing their job, but are not considered in the calculation of an employee's earnings are:

• A.Expense reimbursements
• B.Benefits
• C.Earnings
• D.Allowances

An employee in Ontario was paid a $25,000.00 retiring allowance. The eligible portion was $15,000.00 and was transferred to the employee's Registered Retirement Savings Plan (RRSP) by the employer. Calculate the income tax on the non-eligible portion.

• A.$5,000.00
• B.$7,250.00
• C.$2,000.00
• D.$1,000.00

Jasmine works for a Saskatchewan employer and earns $500.00 weekly. Calculate her Employment Insurance (EI) premium.

Phillip is being paid a severance payment with his final pay. Which block should this payment be reported on the Record of Employment?

• A.Block 15B only
• B.Blocks 15B and 17C
• C.Block 15C only
• D.Block 17C only