Pay Stub Information: Question Preview (ID: 8260)

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At what age can an individual receive CPP?
a) 75
b) 70
c) 65
d) 35

What does EI mean?
a) Exceptional Individual
b) Unemployment Insurance
c) Employment Institute
d) Employment Insurance

The number of days worked over a specific time is called a…
a) Century
b) YTD
c) Period
d) Time frame

Provincial income tax is collected by the…
a) Federal government
b) Municipal government
c) State government
d) Provincial government

Why do people contribute to an RRSP?
a) To save for their children’s education
b) To save money for their retirement
c) To save for buying a new home
d) To save for travelling around the world

Who is an employee?
a) An owner of a company
b) An individual working for a company
c) A supplier of goods
d) An individual employing workers

Who is an employer?
a) The individual working for a company
b) The supplier of goods
c) The owner of a condominium
d) The organization employing workers

What is regular pay?
a) Money earned working up to 40 hours/week
b) Money earned working beyond 40 hours/week
c) Money earned under the table
d) Money won in a lottery

What is net pay?
a) Amount of money earned after deductions
b) Amount of money earned before deductions
c) Total amount of deductions
d) Total amount of income taxes

What are deductions?
a) Amounts of money reducing net pay
b) Amounts of money reducing taxes
c) Amounts of money reducing gross pay
d) Amounts of money reducing overtime pay

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