Question 1

Which of the following statements about company cars is the most accurate?

Accepted Answer

A)   Company cars are less commonly provided in the UK than in most other countries
B)   The taxation of company cars makes them an attractive benefit
C)   Company cars tend to become more impressive as people are promoted
D)   The more miles that you drive in a company car the less tax you payE) A) and D)
F) A) and C)

Question 2

Which formula is typically used in public sector organisations to calculate entitlement to occupational sick pay?

Accepted Answer

A)   Six months full pay
B)   Six months half pay
C)   Three months full pay followed by three months half pay
D)   Six months full pay, followed by six months half payE) A) and B)
F) None of the above D

Question 3

What is being described here? An occupational pension scheme which pays a pension based on the number of years' service and the salary at the date of retirement.

Accepted Answer

A)   SERPS
B)   A defined benefit scheme
C)   A defined contribution scheme
D)   A hybrid schemeE) A) and B)
F) C) and D) B

Question 4

Which of the following is not an explanation as to why many occupational pension funds moved from being in surplus to deficit over the past twenty years?

Accepted Answer

A)   Reduced regulation
B)   Stock market performance
C)   Higher taxation
D)   Increased life expectancyE) A) and B)
F) A) and C)

Question 5

What level of pension would an employee receive if he/she was a member of a sixtieth final salary pension scheme, had forty years' pensionable service and was earning £30,000 a year at the date of retirement?

Accepted Answer

A)   £15,000 per year
B)   £20,000 per year
C)   £25,000 per year
D)   £30,000 per yearE) B) and D)
F) B) and C) B

Question 6

What is being described here? A system which allows employees a degree of choice in how their total payment package is made up.

Accepted Answer

A)   A cafeteria system
B)   A pick and mix system
C)   A self-design system
D)   A pliable systemE) C) and D)
F) All of the above

Exam 22: Pensions and Benefits

Which of the following statements about company cars is the most accurate?

Correct Answer
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Which formula is typically used in public sector organisations to calculate entitlement to occupational sick pay?

Correct Answer
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D

What is being described here? An occupational pension scheme which pays a pension based on the number of years' service and the salary at the date of retirement.

Correct Answer
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B

Which of the following is not an explanation as to why many occupational pension funds moved from being in surplus to deficit over the past twenty years?

Correct Answer
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What level of pension would an employee receive if he/she was a member of a sixtieth final salary pension scheme, had forty years' pensionable service and was earning £30,000 a year at the date of retirement?

Correct Answer
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B

What is being described here? A system which allows employees a degree of choice in how their total payment package is made up.

Correct Answer
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Exam 22: Pensions and Benefits

Which of the following statements about company cars is the most accurate?

Correct AnswerverifiedShow Answer

Which formula is typically used in public sector organisations to calculate entitlement to occupational sick pay?

Correct AnswerverifiedD

What is being described here? An occupational pension scheme which pays a pension based on the number of years' service and the salary at the date of retirement.

Correct AnswerverifiedB

Which of the following is not an explanation as to why many occupational pension funds moved from being in surplus to deficit over the past twenty years?

Correct AnswerverifiedShow Answer

What level of pension would an employee receive if he/she was a member of a sixtieth final salary pension scheme, had forty years' pensionable service and was earning £30,000 a year at the date of retirement?

Correct AnswerverifiedB

What is being described here? A system which allows employees a degree of choice in how their total payment package is made up.

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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D

Correct Answer
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B

Correct Answer
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Correct Answer
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B

Correct Answer
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