Question：Excluded employees are assessable on fewer benefits than other employees.

　　Directors earning less than ?8,500 per annum will be treated as excluded employees if they work:

　　A. Full-time and own, at most, 5% of the share capital.

　　B. Full-time and own more than 5% of the share capital.

　　C. Part-time and own more than 5% of the share capital.

　　D. Part-time and own, at most, 5% of the share capital.

　　The correct answer is: Full-time and own, at most, 5% of the share capital.

　　解析：An individual who is a director is an excluded employee if he has no material interest in the company ('material' means more than 5%) and either:

　　(a) he is a full-time working director; or

　　(b) the company is either non-profit making or is established for charitable purposes.