1. Rollie is entitled to a partial CPP benefit of $778. If inflation is 3 percent, what will he receive monthly in two years?

Select one:

a. $ 931.64

b. $801.34

c. $825.38

d. $819.763

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2. Which of the following is a tax-free benefit?

Select one:

a. OAS

b. RRIF

c. GIS

d. CPP

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3. Allred Corporation's retirement plan will pay $250 a month for each year worked for the company commencing on the employee's 65th birthday. People must work for the company for 10 years to qualify for the pension. This plan is a

Select one:

a. defined-benefit plan.

b. LIRA.

c. registered income fund.

d. defined-contribution plan.

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4. A self-employed individual pays.

Select one:

a. the same CPP contributions that an employee would pay.

b. both the employer and the employee CPP contributions, or about 7.6 percent.

c. both the employer and the employee CPP contributions plus an OAS premium.

d. both the employer and the employee portions of CPP deductions, or about 9.9 percent.

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5. The Old Age Security system allows withdrawal of reduced benefits at an early retirement age.

Select one:

Ture

False