1. To be eligible for Old Age Security retirement benefits, a person must be 65 years old.

Select one:

True

False

2. Morley is retiring on his 70th birthday. How much of a CPP(Canada Pension Plan pension will he receive if he is entitled to the maximum monthly benefit of $700?

Select one:

a. $994

b. $700

c. $952

d. $765

3. If Ramzi earned $46 000 from employment, what will be his CPP(Canada Pension Plan contribution? (YMPE $43 700; YBE $3500)

Select one:

a. $1989.90

b. $2277.00

c. $3979.80

d. $2103.75

4. Individual Canada Pension Plan contributions amount to 7 percent of all income.

Select one:

True

False