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| Section | Weight | Objectives |
|---|---|---|
| Termination and Special Payments | 30% | - Termination payments
|
| Record of Employment (ROE) | 20% | - ROE completion requirements
|
| Individual Pay Calculations | 40% | - Regular earnings
|
| Communication and Compliance | 10% | - Stakeholder communication
|
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NEW QUESTION # 70
Elodie is paid her commissions together with her bi-weekly salary of $1,000.00. This pay period her commissions are $4,300.00. Calculate her Quebec Pension Plan (QPP) contribution for this pay period.
Answer:
Explanation:
$325.42
Explanation:
Because Elodie is subject to QPP, her pensionable earnings for the pay period include both salary and commissions (both are pensionable employment earnings, assuming no exemptions apply). First, determine total pensionable earnings for the bi-weekly pay:
$1,000.00 + $4,300.00 = $5,300.00.
For 2026, Revenu Quebec shows the QPP basic exemption is $3,500 annually and the (employee) QPP contribution rate on earnings up to the maximum pensionable earnings is 6.30%.
Payroll applies the exemption per pay period. For bi-weekly pay (26 pay periods):
$3,500 ÷ 26 = $134.62 (rounded to cents).
Pensionable earnings subject to QPP this pay:
$5,300.00 # $134.62 = $5,165.38.
QPP contribution:
$5,165.38 × 6.30% = $5,165.38 × 0.063 = $325.41894, which rounds to $325.42.
NEW QUESTION # 71
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?
Answer: A
Explanation:
A defined benefit (DB) pension plan promises a future pension benefit based on a formula (for example, service and earnings). Because the benefit is defined, the plan must ensure it is adequately funded to meet future liabilities. That requires actuarial valuations-professional studies that forecast future obligations and determine required contributions. Regulators describe DB plan funding as being based on actuarial calculations and require administrators to file actuarial valuation reports to establish funding and contribution requirements.
A defined contribution (DC) plan does not promise a specific future pension amount; contributions are defined, and the retirement outcome depends on investment performance-so it does not require the same ongoing actuarial funding valuations for promised liabilities. An RRSP is an individual savings plan, not an employer DB plan requiring actuarial funding reports.
Therefore, the correct answer is Defined benefit pension plan (option A).
NEW QUESTION # 72
A 900-series Social Insurance Number is issued to:
Answer: A
Explanation:
A SIN that begins with "9" (often called a 900-series SIN) is issued to temporary workers-people who are neither Canadian citizens nor permanent residents-and who are authorized to work in Canada. Service Canada's employer guidance explicitly states that SINs beginning with "9" are issued to temporary workers who are neither Canadian citizens nor permanent residents, and these SINs are valid only until the expiry date shown on the immigration document that authorizes the person to work in Canada.
Service Canada also advises employers to confirm that employees with a SIN starting with "9" remain authorized to work and that their immigration document has not expired.
So, options A-C are incorrect because a 900-series SIN is not for permanent residents ("landed immigrants"), not for Canadians whose SIN "expires," and not based on working outside Canada. It specifically signals temporary status tied to work authorization in Canada.
NEW QUESTION # 73
A retiring allowance includes:
Answer: A
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 # 74
The source deductions form completed by all new employees in Quebec is called:
Answer: A
Explanation:
In Quebec, employees must complete a Quebec-specific source deductions form so the employer can calculate Quebec income tax to withhold. Revenu Quebec identifies Form TP-1015.3-V (Source Deductions Return) as the form employees complete and provide to their employer/payer for this purpose. It is part of the onboarding
/payroll setup process in Quebec and is used to determine personal tax credits and any additional withholding instructions for Quebec provincial income tax.
The other options are not the standard Quebec source deductions return for new employees: T1213 is a CRA form used to request a reduction in tax deductions at source (federal), TD1-AB is a provincial TD1 for Alberta (not Quebec), and T2222 is not the Quebec source deductions return. From a payroll communication standpoint, the employer should request both the applicable federal TD1 and the Quebec TP-1015.3-V, then retain them on file to support accurate withholding calculations.
NEW QUESTION # 75
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