ASCORERS STUVIA
PAYROLL FUNDAMENTALS CERTIFICATION 2
CHAPTER 3 REVIEW WITH 72, CORRECTLY
ANSWERED QUESTIONS WITH RATIONALES
AND REFERENCES |AGRADE
A pension adjustment is not calculated on which of the following retirement plans?
A deferred profit sharing pension plan
A defined benefit pension plan
A Registered Retirement Savings Plan
A defined contribution pension plan ANSWER: ✔- A Registered Retirement
Savings Plan
Pension adjustments are calculated on: defined contribution pension plans, defined benefit pension plans, deferred profit sharing pension plans and pension plans that are a combination of these types of plans.
For more information, refer to Chapter 3 ASCORERS STUVIA
A pension adjustment is not calculated on which of the following retirement plans?
A defined benefit pension plan
A Registered Retirement Savings Plan
A deferred profit sharing pension plan
A defined contribution pension plan ANSWER: ✔- A Registered Retirement
Savings Plan
Pension adjustments are calculated on: defined contribution pension plans, defined benefit pension plans, deferred profit sharing pension plans and pension plans that are a combination of these types of plans.
A pension adjustment is the measure of the benefit that an individual earns in a year with what type of pension plan?
The Québec Pension Plan
The Canada Pension Plan ASCORERS STUVIA
A Registered Retirement Savings Plan
A deferred profit sharing plan ANSWER: ✔- A deferred profit sharing plan
A pension adjustment is the measure of the benefit that an individual earns in a year in a regular registered pension plan or a deferred profit sharing plan set up by the employer. Employer contributions to a Registered Retirement Savings Plan are considered a taxable benefit and are not reported as a pension adjustment.
For more information, refer to Chapter 3
A pension adjustment:
has no effect on an individual's contributions to their Registered Retirement Savings Plan
increases the amount an individual can contribute to their Registered Retirement Savings Plan
reduces the amount an individual can contribute to their Registered Retirement Savings Plan ASCORERS STUVIA
eliminates eligibility for an individual to contribute to their Registered Retirement Savings Plan ANSWER: ✔- reduces the amount an individual can contribute to their Registered Retirement Savings Plan
A pension adjustment:
reduces the amount an individual can contribute to their Registered Retirement Savings Plan
eliminates eligibility for an individual to contribute to their Registered Retirement Savings Plan
has no effect on an individual's contributions to their Registered Retirement Savings Plan
increases the amount an individual can contribute to their Registered Retirement Savings Plan ANSWER: ✔- reduces the amount an individual can contribute to their Registered Retirement Savings Plan
A pension adjustment reduces the amount an individual can contribute to their
Registered Retirement Savings Plan.
For more information, refer to Chapter 3
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