MPF exam Types of MPF Schemes 強積金計劃的種類 Practice questions

Question 1

Who falls within the permitted membership of an Employer Sponsored Scheme?

Accepted Answer

Relevant employees of one employer and its associated companies

Answer

Relevant employees of all employers in the same industry

Answer

Relevant employees of one employer, excluding those of its associated companies

Answer

All self-employed persons and former self-employed persons

Question 2

How does a Master Trust Scheme principally achieve economies of scale?

Accepted Answer

By pooling contributions from different employers for administration and investment

Answer

By requiring each employer to establish and operate a separate scheme

Answer

By restricting membership to relevant employees of one employer and its associated companies

Answer

By requiring all participating employers to belong to one designated industry

Question 3

Which categories fall within the membership scope of a Master Trust Scheme?
(i) Relevant employees of different employers;
(ii) self-employed persons and former self-employed persons;
(iii) people planning to open TVC accounts;
(iv) people wishing to transfer benefits held in another MPF scheme, an ORSO exempted scheme or an ORSO registered scheme.

Accepted Answer

(i), (ii), (iii) and (iv)

Answer

(i) and (ii) only

Answer

(i), (ii) and (iv) only

Answer

(i), (iii) and (iv) only

Question 4

Which statement about Industry Schemes is NOT correct?

Accepted Answer

Catering and construction employers must enrol their relevant employees in an Industry Scheme

Answer

The designated industries are currently catering and construction

Answer

The schemes particularly suit relevant employees engaged on a day-to-day basis or for a fixed period of less than 60 days

Answer

A casual employee member need not change schemes when changing jobs if both employers participate in the same Industry Scheme

Question 5

Chan Kin is a relevant employee engaged on a day-to-day basis in construction and belongs to an Industry Scheme as a casual employee. He moves to another contractor, and both employers participate in the same Industry Scheme. Which statement is correct?

Accepted Answer

He need not change schemes because both employers participate in the same Industry Scheme

Answer

He must move to a Master Trust Scheme because he has changed employer

Answer

He must change Industry Schemes because the employers are different companies

Answer

He need not change schemes whenever he remains in construction, regardless of which scheme the new employer uses

Question 6

Industry Schemes are specially designed for relevant employees in catering or construction engaged on a day-to-day basis or for a fixed period of less than 60 days. Assuming all the following are relevant employees, which fit this description?
(i) Ms Ng works in construction on a day-to-day basis;
(ii) Mr Lam works in a restaurant for a fixed period of 59 days;
(iii) Ms Yip works in a restaurant for a fixed period of 60 days, rather than on a day-to-day basis;
(iv) Mr Ho works in a retail shop on a day-to-day basis.

Accepted Answer

(i) and (ii) only

Answer

(i), (ii) and (iii) only

Answer

(ii), (iii) and (iv) only

Answer

(i), (ii), (iii) and (iv)

Question 7

Ms Cheung works for a company with a small workforce. Management believes that setting up its own Employer Sponsored Scheme must be cost effective. Which response is most appropriate?

Accepted Answer

Limited membership may make operating the scheme uneconomical, so companies with large workforces are generally more likely to consider setting one up.

Answer

This is correct because fewer members always mean lower administration costs per member.

Answer

The company cannot establish such a scheme because only large companies are legally permitted to do so.

Answer

The company can achieve economies of scale by admitting employees of any unrelated employer to its Employer Sponsored Scheme.

Question 8

Which of the following are the three types of MPF scheme?
(i) Employer Sponsored Scheme;
(ii) Master Trust Scheme;
(iii) Industry Scheme;
(iv) Tax Deductible Voluntary Contributions Scheme.

Accepted Answer

(i), (ii) and (iii) only

Answer

(i), (ii) and (iv) only

Answer

(i), (iii) and (iv) only

Answer

(ii), (iii) and (iv) only

Types of MPF Schemes 強積金計劃的種類

Employer Sponsored Schemes 僱主營辦計劃

Master Trust Schemes 集成信託計劃

Industry Schemes 行業計劃

Practice