1|Page
PF2 FINAL EXAM | POST- TEST PAYROLL
FUNDAMENTALS 2 EXAM NEWEST 2026 ACTUAL
EXAM QUESTIONS AND CORRECT DETAILED
ANSWERS (VERIFIED ANSWERS) ALL ANSWERED/
ALREADY GRADED A+ | BRAND NEW! | 100%
GUARANTEED PASS
Given the following information from the payroll register, calculate the
net pay and prepare a journal entry for the month of February for Mars
Motors.
Salaries and wages $316,458.
52
Bonus $10,538.
43
Canada Pension Plan $15,087.1
contributions 4
Employment Insurance premiums $6,147.54
Income tax $65,399.
39
Registered Retirement Savings $9,493.7
Plan contributions 6
Union dues $2,110.00
Charitable donations $935.00
If Gioia normally works in British Columbia and earned $60,000.00, but
was temporarily sent to work in Nunavut and earned an additional
$4,500.00, what amount would be included on the Nunavut Payroll Tax
Annual Return?
The T4 – Statement of Remuneration Paid must be completed for each
person who received remuneration with respect to employment, except
,2|Page
when:
any amount of group term life insurance was
provided remuneration is less than $500.00
deductions for Canada Pension Plan contributions or Employment
Insurance premiums were required
deductions for income tax were required
,3|Page
Which two methods do insurance carriers usually offer employers for
calculating and remitting their monthly group insurance premiums?
Billed system and head office
accounting basis Billed system and
self-administered billing system
Self administered billing system and self
accounting billing system None of the above
If an employee in Québec worked for an organization under two different
Revenu Québec account numbers and two Canada Revenue Agency
payroll program account numbers, how many total information slips
would the employee receive?
one
two
thr
ee
Fou
r
, 4|Page
Aciers Leroux, with operations in Québec, is a twice-monthly remitter.
The statutory deductions withheld from the three bi-weekly payrolls in
August are as follows.
On the August 3 pay, the employees’ Québec Pension Plan contributions
were $7,414.22, their Employment Insurance premiums were $1,875.00,
their Québec Parental Insurance Plan premiums were $789.00 (based on
insurable earnings
of $150,000.00, their federal income tax withholdings were $24,700.00
and their Québec provincial income tax withholdings were $29,300.00.
The employer’s contribution to the health services fund was $6,390.00
and the employer’s Commission des normes, de l'équité, de la santé et
de la sécurité du travail premiums were $3,750.00.
On the August 17 pay, the employees’ Québec Pension Plan contributions
were $8,966.72, their Employment Insurance premiums were $2,250.00,
their Québec Parental Insurance Plan premiums were $946.80 (based on
insurable earnings
of $180,000.00, their federal income tax withholdings were $29,640.00 and
their Québec provincial income tax withholdings were $35,160.00. The
employer’s
PF2 FINAL EXAM | POST- TEST PAYROLL
FUNDAMENTALS 2 EXAM NEWEST 2026 ACTUAL
EXAM QUESTIONS AND CORRECT DETAILED
ANSWERS (VERIFIED ANSWERS) ALL ANSWERED/
ALREADY GRADED A+ | BRAND NEW! | 100%
GUARANTEED PASS
Given the following information from the payroll register, calculate the
net pay and prepare a journal entry for the month of February for Mars
Motors.
Salaries and wages $316,458.
52
Bonus $10,538.
43
Canada Pension Plan $15,087.1
contributions 4
Employment Insurance premiums $6,147.54
Income tax $65,399.
39
Registered Retirement Savings $9,493.7
Plan contributions 6
Union dues $2,110.00
Charitable donations $935.00
If Gioia normally works in British Columbia and earned $60,000.00, but
was temporarily sent to work in Nunavut and earned an additional
$4,500.00, what amount would be included on the Nunavut Payroll Tax
Annual Return?
The T4 – Statement of Remuneration Paid must be completed for each
person who received remuneration with respect to employment, except
,2|Page
when:
any amount of group term life insurance was
provided remuneration is less than $500.00
deductions for Canada Pension Plan contributions or Employment
Insurance premiums were required
deductions for income tax were required
,3|Page
Which two methods do insurance carriers usually offer employers for
calculating and remitting their monthly group insurance premiums?
Billed system and head office
accounting basis Billed system and
self-administered billing system
Self administered billing system and self
accounting billing system None of the above
If an employee in Québec worked for an organization under two different
Revenu Québec account numbers and two Canada Revenue Agency
payroll program account numbers, how many total information slips
would the employee receive?
one
two
thr
ee
Fou
r
, 4|Page
Aciers Leroux, with operations in Québec, is a twice-monthly remitter.
The statutory deductions withheld from the three bi-weekly payrolls in
August are as follows.
On the August 3 pay, the employees’ Québec Pension Plan contributions
were $7,414.22, their Employment Insurance premiums were $1,875.00,
their Québec Parental Insurance Plan premiums were $789.00 (based on
insurable earnings
of $150,000.00, their federal income tax withholdings were $24,700.00
and their Québec provincial income tax withholdings were $29,300.00.
The employer’s contribution to the health services fund was $6,390.00
and the employer’s Commission des normes, de l'équité, de la santé et
de la sécurité du travail premiums were $3,750.00.
On the August 17 pay, the employees’ Québec Pension Plan contributions
were $8,966.72, their Employment Insurance premiums were $2,250.00,
their Québec Parental Insurance Plan premiums were $946.80 (based on
insurable earnings
of $180,000.00, their federal income tax withholdings were $29,640.00 and
their Québec provincial income tax withholdings were $35,160.00. The
employer’s
