Super and Social Security MC - self made

Super and Social Security MC - self made - Super and Social...

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Super and Social Security – Multi Choice 1. The three pillars to retirement funding are: i. Age pension ii. Self-managed super iii. Occupational based contributions iv. Personal contributions a) I, II, III b) I, II, IV c) I, III, IV d) II, III, IV 2. Employer contributions on gross income is ______ and used to be ______. a) 9%, 3% b) 3%, 9% c) 1%, 3% d) 3%, 1% 3. Other changes to super include; a) Govt co-contributions on low income earners b) Taxation system has been simplified c) Current lump sum payout at the age 60+ is tax free d) Now easier to change between funds e) All of above 4. Superannuation guarantee – employer; a) Contributions to be a least 9% of gross income b) Contributions to be at least 9% of net income
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c) Contributions to be at least 9% of ordinary time earnings d) None of the above 5. Three stages of superannuation include; a) Contributions, implementation, benefit b) Implementation, taxation, benefit c) Contributions, accumulation, benefit d) Contributions, implementation, accumulation e) Taxation, implementation, contributions 6. Regulator roles – APRA responsibility: a) Superfund industry b) SMSF’s c) Fund management industry d) None of above 7. Regulator roles – ATO: a) SMSFs b) Superfund industry c) Fund management industrys d) None of the above 8. Regulator roles – ASIC a) SMSFs b) Fund management industry c) Superfund industry d) None of the above
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9. Which three funds generally have lower fee’s a) Industry funds, SMSF, public offer funds b) SMSF, standard employer sponsored funds, public offer funds c) Industry funds, public sector funds, SMSF d) Public sector funds, SMSF, public offer funds e) All of the above 10. What is the limit that can be claimed as a tax deduction on employee contributions? 11. What is the non-concession contributions cap?
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This note was uploaded on 07/19/2011 for the course FINS 2643 at University of New South Wales.

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Super and Social Security MC - self made - Super and Social...

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