Please answer if these answers I put are correct (I don’t know number 7 still): 1. Employees bear…

Please answer if these answers I put are correct (I don’t know number 7 still):

1. Employees bear the risk of market fluctuation when they have defined contribution pension plans.TRUEOR FALSE

2. Until the money is due, deductions taken off employee payments can be used to cover operating expenses for the business. TRUE ORFALSE

3. All employers require payroll deductions for company pension plan participation.TRUEOR FALSE

4. If gross earnings less statutory deductions for an employee in Ontario with a non-family support Garnishment Order equal $1500, what is the maximum amount that can be deducted for the Order?

a. $1500 b. $1250c.$750d. $300 e.$0

5. A Garnishment Order may not be issued by:

a. CRAb. A Credit Union (where the member has signed an Assignment of Wages) c. Creditors (where the member has signed an Assignment of Wages) d. The Federal Court of Canada e. Small Claims Court

6. The following statement is not true regarding employer sponsored Registered Retirement Savings Plans.

a. the final retirement benefit is known in advance

b. allow employers to reduce taxes from source deductions

c. fees are usually lower than for individuals

d. contributions may be made by the employer, the employee, or both depending on the structure of the plan

e. employee access is often limited to the principal or interest income prior to retirement

7. A deduction from an employee’s wages must be made for all received documents except:

a. a garnishment order from a court

b. a direction to pay from the CRA

c. an assignment of wages from a “Pay Day” loan company

d. an order from a Family Court Branch

e. an order from a Small Claims Court

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