WorksheetsIntroduction of HK MPF
Total questions: 15
Worksheet time: 4hrs 45mins
What is MPF?
Mandatory Protection Fund
Mandatory Provident Fund
Mandatory Provision Fund
Mandatory Processed Fund
Who should contribute MPF?
I. 18-65 age
II. Full-time and Part-time
III. Employed for 60 days+
IV. Civil Servant
I, II & III
I, II & IV
II, III & IV
All of the above
The maximum contribution of an EE into MC per month is
(a)
What is the purpose of Default Investment Strategy (DIS)?
De-risking
Generate Return
Avoid Taxes
All of the above
Which of the following industries are Industry Scheme (IS) designed for?
I. Construction
II. Consumer Services
III. Catering
IV. Healthcare
I, II & IV
I & III
II, III & IV
I & IV
All of the above
Which MPF account is entitled to tax deduction?
SVC
TVC
MC
VC
If Shen Liang joined iFAST HK on 10th March, which of the following month will be his first contribution period?
March
April
May
June
If Shen Liang joined iFAST HK on 15th March, which of the following date will be his first contribution day.
On or Before 10th April
On or Before 10th May
On or Before 10th June
On or Before 10th July
Given that latest monthly wages of Jin Sheng is HKD 25,000 and he had worked for 15 years. What is the amount of entitled LSP?
HKD 225,000
HKD 250,000
HKD 375,000
HKD 390,000
What are the specific circumstances of early withdrawal?
I. Early retirement at age 55+
II. Permanent departure from HK
III. Purchase of first house
IV. Small balance less than HKD 5,000
I, II & IV
II & IV
I, II & III
All of the above
What is the qualifying period of employment for both LSP and SP?
Not less than 2 years (for SP); not less than 5 years for (for LSP)
Not less than 5 years (for SP); not less than 2 years for (LSP)
Not less than 5 years (for SP); not less than 10 years (for LSP)
Not less than 3 years (for SP); not less than 5 years (for LSP)
In what circumstances that trustee will invest member's contributions automatically according to DIS?
Member opt to invest in DIS via ECA
Member's total accrued benefit do not meet the requirement to enrol in specific fund
Member with age 50+ and above
Member did not specify a fund choice during enrolment
Which parts of benefits in a contribution account that are transferable under ECA?
I. ERMC in current employment
II. EEMC in current employment
III. ERVC in current employment
IV. EEVC in current employment
V. MC and VC that have been transferred into the contribution account and are attributable to former employment(s)
II, III & IV
I, III & V
II, IV & V
I, II & V
Which parts of benefits in a contribution account that can be used to offset LSP/SP?
I. EEMC
II. ERMC
III. EEVC
IV. ERVC
V. TVC
VI. SVC
I, II & IV
I & III
II, V & VI
II & IV
All of the above
How many TVC account(s) can be created per scheme and what is the maximum cap for TVC deductions?
1 account; maximum HKD 60,000.00
1 account; maximum HKD 80,000.00
2 accounts; maximum HKD 60,000.00
Unlimited accounts; No cap limit on TVC deductions
