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National Payroll Institute PF1 Exam Syllabus Topics:

National Payroll Institute Payroll Fundamentals 1Exam Sample Questions:

Question 1

An interruption of earnings occurs when there is a period of how many days with no insurable earnings?

A. Seven calendar days
B. Seven business days
C. Five business days
D. Five calendar days

Question 2

Which of the following deductions would be the last payroll withholding in order of priority?

A. Voluntary insurance coverage
B. Requirement to Pay
C. Third Party Demand
D. The organization's pension plan

Question 3

Benefits are:

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

Question 4

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

Question 5

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. 1
B. 0
C. 2
D. 5

Solutions: