CPFA Dumps CPFA Braindumps CPFA Real Questions CPFA Practice Test CPFA Actual Questions APTUSC CPFA Certified Public Finance Administrator https://killexams.com/pass4sure/exam-detail/CPFA Question: 108 Employees Pension Scheme, 1995 (EPS) defines "past service" as ________. A. Service rendered by the employee upto the date of exit from service B. Service rendered by the employee upto the EPS came into force C. Service rendered by the employee with an earlier employer D. Service rendered by the employee from the date of joining Employees Family Pension Fund till the EPS came into force Answer: D Question: 109 Rohini, aged 20 years debates that Retirement Planning is required for Males as well as for those who are above 45 years, she says that she is young, she wants to enjoy life and after marriage her spouse will take care of her retirement. As a Financial Planner address her and provide an appropriate advice A. Her views are untenable, since Retirement Planning has to be undertaken as early as possible B. Her views are tenable C. No comments, since a Certified Financial Planner never debates D. None of the above Answer: A Question: 110 Ms. Kolaveri is a Self Employed Professional conducting her own coaching classes "M/s Raaga Classes" wants to open a PPF A/c (Public Provident Fund) with State Bank of India. As a Financial Planner advise her with regard to the same and do factor in the provisions of Sec 80-C of the Income TaxAct, 1961. (assume that this question is asked by her in December 2011) A. Minimum deposit at any time in a year Rs. 500 and Maximum Rs. 70,000 B. Minimum deposit at any time in a year Rs. 500 and Maximum Rs. 1,00,000 C. Minimum deposit at any time in a year Rs. 5000 and Maximum Rs. 1,00,000 D. Minimum deposit at any time in a year Rs. 100 and Maximum Rs. 1,00,000 Answer: B Question: 111 Mr. Anthony Gonzalvis is working with SEBI wants to open a PPF A/c (Public Provident Fund) with State Bank of India, but is concerned about the provisions of "The Income Tax Act, 1961" with regard to its Contribution, Accumulation and Withdrawal. As a Financial Planner address her concern and provide an appropriate advise with reference to I.T Act, 1961. Taxable, Exempt, Exempt, (TEE) A. Exempt, Taxable, Exempt (ETE) B. Exempt, Exempt, Taxable (EET) C. Exempt, Exempt, Exempt (EEE) Answer: D Question: 112 "Defined Benefit Plans" are the following. 1. Gratuity 2. Employees Pension Scheme 3. Leave Encashment 4. VRS 5. Provident Fund 6. Annuity Plans available in the market A. All are true except 6 B. Only 1,2 & 3 are true C. Only 1,2, 3 & 4 are true D. Only 1,2, & 5 are true Answer: C Question: 113 Mr. Ramalinga Raju joins a private limited company covered under the PF Act. The employer contributes for all the employees only up to the specified salary limit. His monthly salary consists of Rs.10,000 as basic, Rs.5,000 as DA and 10% of the basic as HRA, calculate the EPS contribution A. Rs. 1250 B. Rs. 541 C. Rs. 833 D. Rs. 1241 Answer: C Question: 114 "Defined Contribution Plans" are the following: 1. Annuity Plan available in the market 2. New Pension Scheme, 2004 3. Provident Fund 4. Gratuity as per Payment of Gratuity Act,1972 5. Gratuity not as per Payment of Gratuity Act,1972 A. Only 1 & 2 are true B. Only 1,2 & 3 are true C. Only 1,2, & 5 are true D. Only 1,2, 3 & 5 are true Answer: B Question: 115 If a person receives gratuity and commuted pension then _________ of the commuted amount of pension is tax free A. One third B. Half C. Full D. One fourth Answer: A Question: 116 Which one of the following is a method of estimating retirement income? A. Weighted average method B. Completed cost method C. Proportion method D. Replacement of income method Answer: D Question: 117 A scheme providing pension benefits as per Income Tax provisions is called: A. Superannuation Scheme B. Retirement Scheme C. Retirement Income Scheme D. Pension Scheme Answer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