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National Payroll Institute PF1 Exam Syllabus Topics:

SectionWeightObjectives
Termination and Special Payments30%- Leaves and absences
  • 1. Vacation pay, statutory holidays
    • 2. Sick leave, maternity/parental leave payments
      - Termination payments
      • 1. Retiring allowances, death benefits
        • 2. Wages in lieu of notice, severance pay
          Individual Pay Calculations40%- Regular earnings
          • 1. Hourly, salary, commission calculations
            • 2. Pay period types and frequency
              - Non-regular earnings
              • 1. Overtime, bonuses, retroactive pay
                • 2. Allowances, taxable benefits
                  Record of Employment (ROE)20%- ROE completion requirements
                  • 1. Insurable/pensionable earnings reporting
                    • 2. Block-by-block reporting rules
                      - Submission and deadlines
                      • 1. Electronic vs paper filing
                        Communication and Compliance10%- Stakeholder communication
                        • 1. Employee, government, third-party requirements
                          - Accuracy and documentation
                          • 1. Record keeping and audit trails

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                            National Payroll Institute Payroll Fundamentals 1Exam Sample Questions (Q60-Q65):

                            NEW QUESTION # 60
                            Which statutory deductions is salary continuance subject to?

                            Answer: C


                            NEW QUESTION # 61
                            A premium payment for overtime hours worked or a rate per piece of goods produced is an example of:

                            Answer: C

                            Explanation:
                            Overtime premiums and piece-rate pay are forms of earnings because they are amounts paid for work performed. CRA's payroll guidance confirms overtime pay is remuneration from which you must deduct statutory deductions (CPP, EI, and income tax), reflecting that overtime is treated as employment earnings.
                            Similarly, piecework (piece-rate pay) is a method of paying wages based on units produced rather than time.
                            It is still compensation for labour and therefore part of gross earnings used to calculate payroll deductions and net pay. This is fundamentally different from:
                            Expense reimbursements, which repay employee-incurred business costs (not pay for work).
                            Allowances, which are predetermined amounts to help cover anticipated expenses without receipts.
                            Benefits, which are the value of goods/services provided by the employer or paid on the employee's behalf.
                            So a premium paid for overtime hours or a piece-rate per unit produced is classified as earnings (option A).


                            NEW QUESTION # 62
                            When is the government-prescribed rate of interest set?

                            Answer: A

                            Explanation:
                            The CRA's prescribed interest rates are established for specific periods labelled by calendar quarter (for example, "first calendar quarter 2026"), and CRA publishes the rate schedule by quarter.
                            This prescribed rate is used in multiple tax contexts, including calculating taxable benefits on certain interest- free or low-interest employee/shareholder loans, and it also relates to interest charged/paid by the CRA on overdue amounts and overpayments (with different rates for different situations).
                            Because CRA's publication is organized and effective by quarter (e.g., Jan 1-Mar 31; Apr 1-Jun 30; Jul 1- Sep 30; Oct 1-Dec 31), the correct answer is each calendar quarter (option D), not monthly, semi-annual, or annual.


                            NEW QUESTION # 63
                            The formula for calculating net pay is:

                            Answer: A

                            Explanation:
                            Net pay (often called "take-home pay") is what the employee actually receives after all withholdings and other deductions are taken from their earnings. In Canadian payroll practice, the starting point is gross earnings (regular wages plus any taxable amounts that must be included in income). From gross earnings, payroll subtracts total deductions, which include statutory deductions (such as CPP/QPP, EI, and income tax) and any authorized non-statutory deductions (for example, union dues, benefits premiums, pension contributions, or garnishments where applicable). This is why the most accurate generic formula is gross earnings # total deductions. CRA payroll guidance reflects this structure by requiring employers to calculate gross pay, determine the correct statutory deductions, and then arrive at the amount paid to the employee after those deductions are withheld and remitted.
                            Options C and D are incomplete or incorrect because "total tax" is only one part of deductions, and "net taxable income" is not a payroll calculation base in the way the question frames it. Option A is also incorrect because "pensionable earnings" is only relevant to CPP/QPP calculations, not the overall net pay formula.


                            NEW QUESTION # 64
                            A retiring allowance includes:

                            Answer: B

                            Explanation:
                            The CRA defines a retiring allowance (also called severance pay) as an amount paid when or after an employee retires or loses their job, in recognition of long service or for the loss of employment.
                            However, the CRA is also explicit about what a retiring allowance does not include. It does not include
                            "salary, wages, bonuses, [or] overtime," which rules out bonus/incentive pay and accumulated overtime in the options. It also does not include "payments for accumulated vacation leave not taken," which rules out vacation pay as a retiring allowance. Finally, it does not include wages in lieu of termination notice, which rules out wages in lieu (including legislated notice pay) as a retiring allowance.
                            Because every listed item is specifically excluded by CRA guidance, the correct answer is None of the above (E).


                            NEW QUESTION # 65
                            ......

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