英文強積金考試 MPFE 第一章

In 2064, the projected percentage of the population of Hong Kong aged 65 or above is 36%. The answer is D.

“Mandatory” in mandatory provident fund means that both employers and employees are required to participate in. The answer is B.

It is predicted that, by 2064, the male and female life expectancy at birth will become 87.0 and 92.5 years respectively. The answer is D.

Hong Kong’s ageing population is attributed to the combined effect of an increase in
life expectancy and lower fertility rate. The answer is C.

In addition to an increase in life expectancy and lower fertility rate, Hong Kong’s ageing population can be attributed to the shrinking family size. The answer is A.

In July 1995, the Mandatory Provident Fund Schemes Ordinance was passed by the
Legislative Council and supplemented by detailed subsidiary legislation in March 1998. The Mandatory Provident Fund Schemes Authority (MPFA), the statutory body charged with regulating and supervising MPF schemes, was set up in September 1998. The MPF System commenced operations in December 2000. The answer is B.

The MPF System commenced operations in December 2000. The answer is D.

The MPF System can be viewed as the second pillar in the three-pillar framework. The answer is B.

The World Bank recommended a three-pillar approach in 1994 to address the issue of old-age protection. The three pillars, as proposed at that time, do not include mandatory personal savings and insurance. The answer is B.

The World Bank recommended a three-pillar approach in 1994 to address the issue of old-age protection. The answer is B.

In 2005, in the light of operational experience, the World Bank expanded the
three-pillar framework into a five-pillar framework. The answer is D.

The World Bank recommended a three-pillar approach in 1994 to address the issue of old-age protection. The answer is B.

With reference to the retirement protection systems in many countries, the World Bank recommended a three-pillar approach in 1994 to address the issue of old-age protection. The three pillars, as proposed at that time, should serve the goal of old age protection. The answer is A.

In 2005, the World Bank expanded the three-pillar framework into a five-pillar framework by adding two pillars：
I. informal support, other formal social programmes, and other individual assets
II. a non-contributory, publicly-financed and managed system that provides a minimal level of protection for retirement.

The answer is D.

MPF belongs to Pillar Two of the three-pillar approach. The answer is C.

In 1994, the second pillar of World Bank’s three-pillar framework is a mandatory, privately-managed, fully-funded contribution scheme. The answer is D.

World Bank’s three-pillar framework includes a publicly-financed and managed social safety net; a mandatory, privately-managed, fully-funded contribution scheme; and voluntary personal savings. The answer is C.

Before MPF was implemented, one-third proportion of the Hong Kong employed population was covered by any sort of retirement protection. The answer is A.

Under the MPF System, employers are responsible for selecting MPF trustee(s). The answer is B.

MPF schemes are managed by private entities. The answer is C.

Before MPF was implemented, out of the 3 million working population in Hong Kong, two-third of the Hong Kong employed population was not covered by any sort of retirement protection. The answer is C.

Hong Kong has been facing the challenge of an ageing population. According to the Census and Statistics Department, the proportion of the population aged 65 and over for the year 2064 is projected to rise to 36% of the overall population. The answer is C.

As at 31 December 2015, 85% of Hong Kong’s employed population (about 3.2 million) were covered by the MPF System or some other forms of retirement schemes. The answer is C.

The MPF System is a mandatory system. Except for exempt persons, all relevant
employers, relevant employees and self-employed persons are required to join MPF. The answer is A.

All the statements are true. The answer is D.

The key characteristics of the MPF System are mandatory participation, employment-based, defined contribution, privately-managed, and fully-funded. The answer is A.

The MPF System is a mandatory, privately-managed, employment-based, fully-funded contribution system. The answer is D.

Before MPF was implemented, two-third proportion of the Hong Kong employed population was not covered by any sort of retirement protection. The answer is A.

Under the MPF System, employees choose among the funds offered by the scheme(s) chosen by the employers. The answer is A.

The amount of accrued benefits accumulated in the scheme member’s account depends on the amount contributed to the scheme and the
investment return thereon. The answer is B.