QFA
QFA PENSIONS SAMPLE PAPER 1 EXAM
QUESTIONS AND ANSWERS
The acronym PFT stands for which of the following?
A Personal Fund Tax
B Personal Fund Threshold
C Preliminary Fund Tax
D Pension Fund Threshold - correct answer B
Which of the follow income sources are relevant for pension
purposes? (i) Rent from a property you own (ii)Dividends from
shares in a publicly listed company (iii) Dividends from shares in
a private company where you own 50% of the equity (iv) Salary
you receive from an employment:
,QFA
A (i), (ii), (iii) and (iv)
B (i) and (iii) only
C (iii) and (iv) only
D (iv) only. - correct answer D
John runs a successful graphic design company and this year he
will receive a PAYE salary of €50,000. As the business is doing
well he is going to pay himself a bonus of €50,000. The
company still has significant profits so he is taking a dividend in
respect of his shareholding and this will give him another
€50,000 this year.
John's relevant income will therefore be:
A €50,000
B €100,000
C €150,000
D €200,000 - correct answer B
Which of the following is/are unearned
income? (i) Dividends (ii) Deposit interest (iii) Salary:
A (iii) only
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B (i) and (ii) only
C (ii) and (iii) only
D (i), (ii) and (iii). - correct answer B
Mairead is a member of her employer's DC pension scheme.
Her total accumulated retirement fund in the scheme is
€230,000, of which €40,000 was funded by her own
contributions. She has no retained benefits.
If her current best final remuneration is €35,000 per annum
what is the MAXIMUM lump sum death-in-service benefit
which the scheme could pay out if she died in service today?
A €140,000
B €180,000
C €190,000
D €230,000 - correct answer B
A PRSA is an example of which pillar of provision for
retirement?
A First
, QFA
B Second
C Third
D Fourth - correct answer B
Colm joined the Civil Service in 1999. He pays PRSI at which
class?
AA
BB
CK
D S - correct answer A
Andrea's husband has just died. She can qualify for the State
Widow's (Contributory) Pension only if she:
A can pass a means test
B meets the necessary PRSI conditions based
on her or her late husband's PRSI record
C is then under age 55
D has children from her marriage - correct answer B
QFA PENSIONS SAMPLE PAPER 1 EXAM
QUESTIONS AND ANSWERS
The acronym PFT stands for which of the following?
A Personal Fund Tax
B Personal Fund Threshold
C Preliminary Fund Tax
D Pension Fund Threshold - correct answer B
Which of the follow income sources are relevant for pension
purposes? (i) Rent from a property you own (ii)Dividends from
shares in a publicly listed company (iii) Dividends from shares in
a private company where you own 50% of the equity (iv) Salary
you receive from an employment:
,QFA
A (i), (ii), (iii) and (iv)
B (i) and (iii) only
C (iii) and (iv) only
D (iv) only. - correct answer D
John runs a successful graphic design company and this year he
will receive a PAYE salary of €50,000. As the business is doing
well he is going to pay himself a bonus of €50,000. The
company still has significant profits so he is taking a dividend in
respect of his shareholding and this will give him another
€50,000 this year.
John's relevant income will therefore be:
A €50,000
B €100,000
C €150,000
D €200,000 - correct answer B
Which of the following is/are unearned
income? (i) Dividends (ii) Deposit interest (iii) Salary:
A (iii) only
,QFA
B (i) and (ii) only
C (ii) and (iii) only
D (i), (ii) and (iii). - correct answer B
Mairead is a member of her employer's DC pension scheme.
Her total accumulated retirement fund in the scheme is
€230,000, of which €40,000 was funded by her own
contributions. She has no retained benefits.
If her current best final remuneration is €35,000 per annum
what is the MAXIMUM lump sum death-in-service benefit
which the scheme could pay out if she died in service today?
A €140,000
B €180,000
C €190,000
D €230,000 - correct answer B
A PRSA is an example of which pillar of provision for
retirement?
A First
, QFA
B Second
C Third
D Fourth - correct answer B
Colm joined the Civil Service in 1999. He pays PRSI at which
class?
AA
BB
CK
D S - correct answer A
Andrea's husband has just died. She can qualify for the State
Widow's (Contributory) Pension only if she:
A can pass a means test
B meets the necessary PRSI conditions based
on her or her late husband's PRSI record
C is then under age 55
D has children from her marriage - correct answer B
