QFA Pensions Sample Paper 1 Study
Guide Questions All Answered Correctly
2026-2027 Updated.
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 - 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:
A (i), (ii), (iii) and (iv)
B (i) and (iii) only
C (iii) and (iv) only
D (iv) only. - 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 - Answer B
Which of the following is/are unearned
income? (i) Dividends (ii) Deposit interest (iii) Salary:
A (iii) only
B (i) and (ii) only
,C (ii) and (iii) only
D (i), (ii) and (iii). - 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 - Answer B
A PRSA is an example of which pillar of provision for retirement?
A First
B Second
C Third
D Fourth - Answer B
Colm joined the Civil Service in 1999. He pays PRSI at which class?
AA
BB
CK
D S - 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 - Answer B
Liability to pay PRSI on income currently ceases at which age?
A 60
B 65
C 66
D 70 - Answer C
Jack is in receipt of the State invalidity pension. This pension will automatically stop when Jack:
A reaches age 60
B reaches age 65
C starts to receive the State Pension (Contributory)
D starts to receive a private pension - Answer C
A State invalidity pension is potentially payable to qualifying individuals who have been
incapable of work for at LEAST how many months?
A3
B6
C 12
D 24 - Answer C
Entitlement to which of the following is subject to a means test? (i) State Pension (Non-
Contributory) (ii) State Widow's Pension (Non- Contributory) (iii) State Pension (Contributory):
A (i) and (ii) only
B (i) and (iii) only
C (ii) and (iii) only
D (i), (ii) and (iii) - Answer A
A property investment held outside of a pension arrangement is an example of which pillar of
provision for retirement?
A First
Guide Questions All Answered Correctly
2026-2027 Updated.
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 - 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:
A (i), (ii), (iii) and (iv)
B (i) and (iii) only
C (iii) and (iv) only
D (iv) only. - 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 - Answer B
Which of the following is/are unearned
income? (i) Dividends (ii) Deposit interest (iii) Salary:
A (iii) only
B (i) and (ii) only
,C (ii) and (iii) only
D (i), (ii) and (iii). - 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 - Answer B
A PRSA is an example of which pillar of provision for retirement?
A First
B Second
C Third
D Fourth - Answer B
Colm joined the Civil Service in 1999. He pays PRSI at which class?
AA
BB
CK
D S - 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 - Answer B
Liability to pay PRSI on income currently ceases at which age?
A 60
B 65
C 66
D 70 - Answer C
Jack is in receipt of the State invalidity pension. This pension will automatically stop when Jack:
A reaches age 60
B reaches age 65
C starts to receive the State Pension (Contributory)
D starts to receive a private pension - Answer C
A State invalidity pension is potentially payable to qualifying individuals who have been
incapable of work for at LEAST how many months?
A3
B6
C 12
D 24 - Answer C
Entitlement to which of the following is subject to a means test? (i) State Pension (Non-
Contributory) (ii) State Widow's Pension (Non- Contributory) (iii) State Pension (Contributory):
A (i) and (ii) only
B (i) and (iii) only
C (ii) and (iii) only
D (i), (ii) and (iii) - Answer A
A property investment held outside of a pension arrangement is an example of which pillar of
provision for retirement?
A First
