Question 1 In a defined contribution pension plan, the retirement benefits to the employee are not defined.

True or False

Question 2 Saved Employees are not allowed to make contributions to a defined contribution pension plan.

True or False

Question 3 Current service cost is usually the largest single component of pension expense under a defined benefit pension plan.

True or False

Question 4 In a defined contribution plan, employers run the risk of high pension contributions.

True or False

Question 5 An increase in current service cost would cause an increase in pension obligations.

True or False

Question 6 The payment of pension benefits to retirees would result in an increase in pension plan obligations.

True or False

Question 7 When pension plan assets exceed pension plan obligations, the plan is said to be in a overfunded position.

True or False

Question 8 The difference between the pension plan assets at fair value and the defined benefit obligation is referred to as the net defined benefit element to be reported on the statement of financial position.

True or False

Question 9 An overfunded status in a defined pension benefit plan means that there is a cash shortage in the plan.

True or False