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34 Cards in this Set
- Front
- Back
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What is the main difference between pay and allowance?
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Pay is taxable income & Allowance is nontaxable income
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List the (3) types of pay the Navy uses.
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1. Basic
2. Incentive 3. Special |
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What system is used to deposit Navy personnel paychecks?
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Direct Deposit System
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As an E-4, you have served more than 4 years on active-duty. How often will you receive a longevity raise?
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Every 2 years
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How often do you receive your clothing maintenance allowance?
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once a year
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What person is responsible for making sure your paycheck and LES are accurate?
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You
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How many days of leave do you earn per year?
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30 days a year or 2.5 days of leave per month
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The CO may grant how many days of special liberty ?
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3 or 4 day special liberty periods
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What is the safest and most convenient way ot keep track of the money ?
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A checking account
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You have paid for an item with a check; however, you don't have enough money in your checking account to cover the check. What is the result of this action?
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You have bounced a check
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You are having money taken out of your pay to make loan payments. What type of allotment are you making?
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Voluntary allotment
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What's the first thing you should plan for when making out a budget?
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A savings plan
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The money charged for using borrowed money or using credit is known as---
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Interest
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If total charges of a loan or purchases agreement are not listed, what is the simplest way to find the total cost of credit?
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Subtract the actual price of goods from total amount of the loan
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How do you establish a good credit rating?
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Paying loans or purchase agreement according to your contract and on time
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You can secure SGLI in what increments?
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$10,000
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What is the maximum amount of coverage for SGLI?
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$400,000
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You have been separated from the service. You will be covered by SGLI for up to what maximum number of days after your separation?
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120 days
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When service members or their families are victim of spousal or child abuse, what Navy program was established to help them?
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To help service members of their families when they are a victim of spousal or child abuse
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List some of the ways that FAP can help a family
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-Education programs
-Counseling -Intervention is cases of abuse |
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How does stress occur?
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When there's an imbalance between the demands of our lives and resources we have to deal with those demands
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What the first step when dealing with stress?
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Identify your stressors; that is, find out what causes the stress
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List some of the ways you can combat stress
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-Exercise
-Diet -Meditation -Laughter -Relaxation techniques -Involvement with outside activities |
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How many types of pay may you receive?
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3
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As a Sailor, what action must you take in order to get paid?
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Open a savings or checkings account
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Pay you get for certain types of duty that are usually considered hazardous.
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Incentive
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The pay you get that's based on your paygrade and length of service.
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Basic
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You are getting a selective reenlistment bonus. What type of pay are you receiving?
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Special
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What is an allowance?
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Money used to reimburse you for expenses necessary for you to do your job
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There are how many categories of authorized allotments?
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5
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The amount of money taken from pay for income taxes, Social Security, SGLI, and so forth.
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Deductions
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The money taken from gross income to pay debts to the United States.
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Allotments
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The money paid to a member after all deductions and allotments are paid.
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Net income
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Which of the following is a fixed expense?
a) Clothes b) Rent c) Savings d) Food |
b) Rent
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