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51 Cards in this Set
- Front
- Back
How many types of pay may you receive?
1. One 2. Two 3. Three 4. Four |
The Navy has three types of pay:
1. Basic pay 2. Incentive pay 3. Special pay |
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As a Sailor, what action must you take in order to get paid?
1. Open a savings account only 2. Open a checking account only 3. Open a savings or a checking account |
Navy personnel paychecks are deposited automatically into their checking or savings account via the Direct Deposit System (DDS). Toget paid, you must open up a savings or checking account.
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Pay you get for certain types of duty that are usually considered hazardous.
1. Basic pay 2. Incentive pay 3. Special pay |
Incentive pay is pay you receive for certain types of duty. These types of duty are usually considered hazardous. Therefore, incentive pay is sometimes referred to as hazardous duty pay.
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The pay you get that’s based on your paygrade and length of service.
1. Basic pay 2. Incentive pay 3. Special pay |
Basic pay is the pay you receive based upon your paygrade and your length of service.
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You are getting a selective reenlistment bonus. What type of pay are you receiving?
1. Incentive pay 2. Basic pay 3. Special pay |
Special pay is pay for special circumstances, such as reenlistment or a particular type of duty. Duty for which you may receive special pay includes foreign duty, sea duty, medical duty, special assignment duty, hostile fire duty, and diving duty. You may also receive special pay in the form of a selective reenlistment bonus
(SRB) |
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What is an allowance?
1. Money used to reimburse you for expenses necessary for you to do your job 2. Money used to pay you for expenses unnecessary for you to do your job 3. Money paid for services rendered 4. Money paid for longevity |
An allowance is money used to reimburse you (pay you back) for expenses necessary for you to perform your job.
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You are entitled to an annual clothing maintenance allowance after you have been on active duty for what length of time?
1. 12 months 2. 6 months 3. 3 months 4. 9 months |
Following an initial 6-month active-duty period, you are entitled to receive an annual clothing maintenance allowance.
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Which of the following offices can provide you information about the types of allowances to which you’re entitled?
1. Education services office 2. Disbursing 3. Personnel 4. Both 2 and 3 above |
Your disbursing or personnel office can provide you with information about the type of allowances, if any, you are entitled to.
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How is your housing allowance shown on
the leave and earnings statement (LES)? 1. BAQonly 2. VHA only 3. BAQand VHA 4. BAH |
Your LES will show only the BAH amount.
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An allotment is money you have withheld from your pay and paid directly to someone else. There are how many categories of authorized allotments?
1. Six 2. Five 3. Three 4. Four |
FIVE
C (charity drive donation) D (dependent) H (housing) I (insurance) S (savings) |
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What office should you notify if you think that you’re being overpaid?
1. Division 2. Disbursing 3. Admin 4. ESO |
Report the difference to disbursing office.
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By looking at your LES, you can find the amount of allowances you have earned.
1. True 2. False |
True
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Leave and liberty are times you’re authorized to spend away from work and off duty. They are combined on the LES.
1. True 2. False |
True
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You earn a certain number of leave days each year you serve on active duty. What is the maximum number of days of leave you can earn in a year?
1. 10 2. 20 3. 30 4. 40 |
Basically, you will earn 30 days of leave in each year of active duty.
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Regular liberty is usually granted as a 4-day period.
1. True 2. False |
False. Regular liberty is usually granted from the end of one work period to the beginning of the next. That period may be from one day to the next or over a weekend or holiday.
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Under certain circumstances, what is the maximum number of days special liberty a CO can grant?
1. 1 day 2. 2 days 3. 3 days 4. 4 days |
Four-day liberty is a special liberty period granted by the CO that gives the servicemember four full days absence from work or duty.
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Which of the following types of leave is NOT charged to your earned, annual, or excess leave account?
1. Authorized regular leave 2. Convalescent leave 3. Sick leave 4. Recovery leave |
Convalescent leave is not charged to your earned, advance, or excess leave account; it is computed separately.
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What form should you use to request either regular or emergency leave?
1. NAVCOMPT Form 3065 2. NAVCOMPT Form 3180 3. BUPERS Form 3065 4. BUPERS Form 3180 |
To request either regular or emergency leave, you should use the Leave Request/Authorization, NAVCOMPT Form 3065.
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The safest and most convenient way for you to keep track of your money is to open a checking account.
1. True 2. False |
checking account usually serves as the safest and the easiest way for you to keep track of your money.
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Which of the following is one way you can avoid bouncing a check?
1. Only use debit cards 2. Balance your checkbook 3. Always pay cash 4. Get a second job |
Here are some tips you can use to avoid bouncing a check.
1. Each month, your bank will send a statement of your transactions. Check it for accuracy and balance your checkbook each month (fig. 17-4). 2. Always record transactions in your check register as they occur. 3. Be aware of any service fees and deduct them promptly. |
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Which of the following is/are types of voluntary allotments?
1. Life insurance payments 2. Mortgage payments 3. Payment to family members 4. All of the above |
All of the above
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Which of the following is/are types of involuntary allotments?
1. CFC pledges 2. Purchase of U.S. savings bonds 3. Garnishment of pay 4. All of the above |
Garnishment of pay
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Which of the following is/are types of voluntary allotments?
1. Life insurance payments 2. Mortgage payments 3. Payment to family members 4. All of the above |
All of the above
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Which of the following is the key to money managemnt?
1. Using a budget 2. Using an ATM 3. Using a checking account 4. Each of the above |
Using a budget
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Which of the following is/are types of involuntary allotments?
1. CFC pledges 2. Purchase of U.S. savings bonds 3. Garnishment of pay 4. All of the above |
Garnishment of pay
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The amount of money taken from pay for income taxes, Social Security, SGLI, and
so forth. 1. Allotments 2. Deductions 3. Fixed expenses 4. Net income |
Deductions. The amount of money taken from pay for income taxes, Social Security, Service Group Life Insurance(SGLI), and so forth.
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Which of the following is the key to money managemnt?
1. Using a budget 2. Using an ATM 3. Using a checking account 4. Each of the above |
Using a budget
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The money taken from gross income to pay debts to the United States.
1. Allotments 2. Gross income 3. Fixed expenses 4. Net income |
Allotments. The money taken from gross income for savings, checking accounts, family support or to pay debts, such as car payments and debts due the United States
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The amount of money taken from pay for income taxes, Social Security, SGLI, and
so forth. 1. Allotments 2. Deductions 3. Fixed expenses 4. Net income |
Deductions. The amount of money taken from pay for income taxes, Social Security, Service Group Life Insurance(SGLI), and so forth.
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The money taken from gross income to pay debts to the United States.
1. Allotments 2. Gross income 3. Fixed expenses 4. Net income |
Allotments. The money taken from gross income for savings, checking accounts, family support or to pay debts, such as car payments and debts due the United States
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The money paid to a member after all deductions and allotments are paid.
1. Deductions 2. Fixed expenses 3. Gross income 4. Net income |
Net income. The money paid to a member after all deductions and allotments are paid. Also known as take-home pay.
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The money paid to a member after all deductions and allotments are paid.
1. Deductions 2. Fixed expenses 3. Gross income 4. Net income |
Net income. The money paid to a member after all deductions and allotments are paid. Also known as take-home pay.
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Expenses that are the same each month.
1. Allotments 2. Deductions 3. Fixed 4. Net income |
Fixedexpenses. Expenses that are the same each month.
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Expenses that are the same each month.
1. Allotments 2. Deductions 3. Fixed 4. Net income |
Fixedexpenses. Expenses that are the same each month.
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Of the following expenses, which one is a fixed expense?
1. Clothes 2. Rent 3. Savings 4. Food |
Rent
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Of the following expenses, which one is a fixed expense?
1. Clothes 2. Rent 3. Savings 4. Food |
Rent
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You are planning a budget. What is the first thing for which you should plan?
1. Clothes 2. Rent 3. Savings 4. Food |
The first thing to do when making out a budget is to start a savings plan—pay yourself first!
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You are planning a budget. What is the first thing for which you should plan?
1. Clothes 2. Rent 3. Savings 4. Food |
The first thing to do when making out a budget is to start a savings plan—pay yourself first!
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According to the U.S. Department of Labor,
approximately what percentage of your income should be budgeted for housing costs? 1. 15% 2. 20% 3. 25% 4. 30% |
25%
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According to the U.S. Department of Labor,
approximately what percentage of your income should be budgeted for housing costs? 1. 15% 2. 20% 3. 25% 4. 30% |
25%
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Credit is buying now and paying later at no extra cost.
1. True 2. False |
False
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What method, if any, can you use to find the total amount you will pay for a loan?
1. Add the price of the purchase to the total amount of the loan 2. Subtract the price of the purchase from the total amount you will pay for the loan 3. None |
First, find the total amount you will pay for the loan or the purchase. Then subtract the actual price of the goods from the total cost of the loan. The difference shows the total cost of credit.
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Good credit is priceless for which of the following reasons?
1. Buying a house 2. In emergencies 3. Making big purchases |
A good credit rating can be priceless in an emergency, such as a medical crisis, fire, or death in the family.
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Which of the following are principles of using credit?
1. Don’t use credit for splurging 2. Make as large a down payment as possible 3. Use credit to purchase goods that will last for a long time 4. Each of the above |
Each of the above
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What is the maximum life insurance coverage under the Serviceman’s Group Life Insurance (SGLI) program?
1. $100,000 2. $150,000 3. $200,000 4. $250,000 |
$250,000
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Who is responsible for the safety, health, and well-being of your family?
1. Yourself 2. The Navy 3. Your spouse 4. The government |
Yourself
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What is the result of abusive behavior of Navy personnel?
1. Destroyed lives 2. Negative morale of the military unit 3. Bad reputation of the military in the civilian community 4. All of the above |
All of the above
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What program, if any, was established to help families in distress?
1. Case Review Committee (CRC) 2. Family Advocacy Program (FAP) 3. Family Advocacy Committee (FAC) 4. None |
The Family Advocacy Program was established to help service members or their families when they are a victim of spousal or child
abuse. |
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Victims of spouse or child abuse can report incidents directly to which of the following persons/activities?
1. FAO 2. FSC 3. Medical treatment center 4. All of the above |
All of the above
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Stress happens when there is an imbalance between the demands of our lives and the
means we have to deal with those demands. 1. True 2. False |
True
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La Neige
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snow
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