Q1: Locked-in funds in registered retirement savings plans:

Multiple Choice

• Restrict employee access to the principal if they perform poorly

• Lock in rates of return at a specified maximum rate

• Lock in rates of return at a specified minimum rate

• Restrict employee access to the principal if they quit their job

• Restrict employee access to the principal prior to retirement

Q2:

Garnishment orders can be issued by all but the following:

Multiple Choice

• The Ontario Court of Justice

• A credit union where a member has signed an assignment of wages

• The Family Court Branch of the Ontario Superior Court of Justice

• A creditor where an employee has signed an assignment of wages

• The Canada Revenue Agency

Q3:

This type of pension plan is administered by a trustee according to a formula for the amount of pension benefits the worker will receive when claimed.

Multiple Choice

• Registered Retirement Savings Plans

• Defined Development Pension Plans

• Deferred Profit Sharing Plans

• Defined Benefit Pension Plans

• Defined Contribution Pension Plans

Q4:

Which deductions must be calculated first in payroll processing?

Multiple Choice

• Employer compulsory deductions

• Statutory deduction

• Garnishment orders

• Employer voluntary deductions

• Deduction order is irrelevant