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Pay Stub Information
Test Description: Review the information studied in class regarding pay stubs and working.
Instructions: Answer all questions to get your test result.
1) At what age can an individual receive CPP?
A
70
B
75
C
65
D
35
2) What does EI mean?
A
Exceptional Individual
B
Employment Institute
C
Employment Insurance
D
Unemployment Insurance
3) The number of days worked over a specific time is called a…
A
Century
B
Time frame
C
YTD
D
Period
4) Provincial income tax is collected by the…
A
State government
B
Municipal government
C
Federal government
D
Provincial government
5) Why do people contribute to an RRSP?
A
To save money for their retirement
B
To save for buying a new home
C
To save for travelling around the world
D
To save for their children’s education
6) Who is an employee?
A
A supplier of goods
B
An individual working for a company
C
An individual employing workers
D
An owner of a company
7) Who is an employer?
A
The individual working for a company
B
The organization employing workers
C
The owner of a condominium
D
The supplier of goods
8) What is regular pay?
A
Money earned working beyond 40 hours/week
B
Money earned under the table
C
Money earned working up to 40 hours/week
D
Money won in a lottery
9) What is net pay?
A
Amount of money earned after deductions
B
Amount of money earned before deductions
C
Total amount of income taxes
D
Total amount of deductions
10) What are deductions?
A
Amounts of money reducing taxes
B
Amounts of money reducing net pay
C
Amounts of money reducing gross pay
D
Amounts of money reducing overtime pay
*select an answer for all questions
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