Payroll Fundamentals 1 Midterm Exam | Verified Exam Questions and
Answers | Latest Updated Study Material 2026
Question:
Commencement package (Ch.1)
Answer:
-Organization specific forms
(personal information forms)
Question:
-Government forms (federal and provincial personal tax credits return)
-Benefit forms (insurance enrollment forms)
Hiring form (ch.1)
Answer:
May include information on their position
such as department, manager, start date, salary/hourly wage, and benefit entitlement
Question:
Information that must be provided to employees (ch.1)
Answer:
-
Employee name
Question:
-Date of pay period
-Rates of pay and hours of work at each rate
-Gross earnings
-Itemized deductions
-Net pay
TD1- WS is used to calculate partial claim amounts for... (ch.1)
Answer:
-Age
,Question:
-Canada caregiver amount for eligible dependent or spouse or common-law partner
-Canada caregiver amount for dependent(s) age 18 or over
Federal TD1, Provincial/territorial TD1, and Quebec TP-1015.3-V require... (ch.1)
Answer:
-Name
Question:
-Date of birth
-Social insurance number
Other credits employees can claim on their Federal and Provincial/Territorial TD1 to lower taxes
(ch.1)
Answer:
-Being a caregiver
Question:
-Being over 65
-Receiving a pension
-Being or supporting a student in post-secondary studies
-Being disabled
-Supporting a spouce
-Living alone (Quebec)
-Having children under 18 (Saskatchewan and Yukon)
Do you have to claim basic personal provincial/territorial credits? (ch.1)
Answer:
-No, if only doing basic
Question:
-Yes, if claiming children under 18 (Sakatchewan and Yukon)
-Yes, always (Quebec)
Employers should review TD1 and TP-1015.3-V forms to ensure (ch.2)
, Answer:
-Correct employee name, Date of birth, Address, and SIN
Question:
-Correct amounts on the form
-Amounts claimed are totaled correctly
-Form does not contain obvious false statements
-The form is signed a dated
What certain information must appear on an employee's statement of wages? (ch.2)
Answer:
-Name
Question:
-Rate of pay and hours worked at each rate
-Date of pay period
-Gross and net pay
-Itemized deductions
Renumeration (ch.2)
Answer:
Employee received compensation or pay
for the services they perform
Question:
-AKA employee income when employer-employee relationship exists
Employee income can be categorized into what? (ch.2)
Answer:
-
Earnings
Question:
-Allowances
-Benefits
-Taxable expense reimbursements
Answers | Latest Updated Study Material 2026
Question:
Commencement package (Ch.1)
Answer:
-Organization specific forms
(personal information forms)
Question:
-Government forms (federal and provincial personal tax credits return)
-Benefit forms (insurance enrollment forms)
Hiring form (ch.1)
Answer:
May include information on their position
such as department, manager, start date, salary/hourly wage, and benefit entitlement
Question:
Information that must be provided to employees (ch.1)
Answer:
-
Employee name
Question:
-Date of pay period
-Rates of pay and hours of work at each rate
-Gross earnings
-Itemized deductions
-Net pay
TD1- WS is used to calculate partial claim amounts for... (ch.1)
Answer:
-Age
,Question:
-Canada caregiver amount for eligible dependent or spouse or common-law partner
-Canada caregiver amount for dependent(s) age 18 or over
Federal TD1, Provincial/territorial TD1, and Quebec TP-1015.3-V require... (ch.1)
Answer:
-Name
Question:
-Date of birth
-Social insurance number
Other credits employees can claim on their Federal and Provincial/Territorial TD1 to lower taxes
(ch.1)
Answer:
-Being a caregiver
Question:
-Being over 65
-Receiving a pension
-Being or supporting a student in post-secondary studies
-Being disabled
-Supporting a spouce
-Living alone (Quebec)
-Having children under 18 (Saskatchewan and Yukon)
Do you have to claim basic personal provincial/territorial credits? (ch.1)
Answer:
-No, if only doing basic
Question:
-Yes, if claiming children under 18 (Sakatchewan and Yukon)
-Yes, always (Quebec)
Employers should review TD1 and TP-1015.3-V forms to ensure (ch.2)
, Answer:
-Correct employee name, Date of birth, Address, and SIN
Question:
-Correct amounts on the form
-Amounts claimed are totaled correctly
-Form does not contain obvious false statements
-The form is signed a dated
What certain information must appear on an employee's statement of wages? (ch.2)
Answer:
-Name
Question:
-Rate of pay and hours worked at each rate
-Date of pay period
-Gross and net pay
-Itemized deductions
Renumeration (ch.2)
Answer:
Employee received compensation or pay
for the services they perform
Question:
-AKA employee income when employer-employee relationship exists
Employee income can be categorized into what? (ch.2)
Answer:
-
Earnings
Question:
-Allowances
-Benefits
-Taxable expense reimbursements
