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23 Cards in this Set
- Front
- Back
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What’s the main difference between pay and
allowance? |
The main difference between pay and allowance
is that pay is taxable income and allowance is nontaxable income. |
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List the three types of pay the Navy uses.
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The three types of pay are—
a. Basic b. Incentive c. Special |
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What system is used to deposit Navy personnel
paychecks? |
The Navy uses the Direct Deposit System
(DDS) to deposit personnel paychecks. |
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As an E-4, you have served more than 4 years
of active-duty service.Howoften will you receive a longevity raise? |
When you have served more than 4 years of
active-duty service, you will receive a longevity raise every 2 years. A5. You receive your clothing maintenance |
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Q5. How often do you receive your clothing
maintenance allowance? |
You receive your clothing maintenance
allowance once a year. |
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What person is responsible for making sure your
paycheck and LES are accurate? |
You are responsible for making sure your
paycheck and LES are correct. |
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How many days of leave do you earn per year?
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You earn 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? |
The CO may grant 3- or 4-day special liberty
periods. |
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What is the safest and most convenient way to
keep track of the money you spend? |
A checking account is the safest and most
convenient way to keep track of the money you spend. |
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Youhave paid for an itemwith a check; however,
you don’t have enough money in your checking account to cover the check. What is the result of this action? |
If you don’t have enough money in your
checking account to cover a check, you have bounced a check. You are usually charged a fee by the bank to process this check and charged a fee by the company you wrote the check to. |
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You are having money taken out of your pay to
make loan payments. What type of allotment are you making? |
When you have money taken out to make loan
payments, you have a voluntary allotment. |
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What’s the first thing you should plan for when
making out a budget? |
The first thing to do when making out a budget is
to start a savings plan—pay yourself first! |
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The money charged for using borrowed money
or using credit is known as— |
The money you’re charged to use borrowed
money is known as interest. |
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If total charges of a loan or purchases agreement
are not listed, what is a simplest way to find the total cost of credit? |
The simplest way to find the total cost of credit is
to subtract the actual price of goods from the total amount of the loan. |
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How do you establish a good credit rating?
|
You establish good credit by paying loans or
purchase agreements according to your contract and on time. |
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You can secure SGLI in what increments?
|
SGLI is available in increments of $10,000
only. |
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What is the maximum amount of coverage for
SGLI? |
The maximum amount of coverage under SGLI
is $200,000. |
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Youhave separated fromthe service. You will be
covered by SGLI for up what maximum number of days after your separation? |
Normally, you are covered for a maximum of
120 days after separation from the service. |
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When service members or their families are a
victim of spousal or child abuse, what Navy program was established to help them? |
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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List some of the ways that the FAP can help a
family. |
The FAP can help a family through—
a. Education programs b. Counseling c. Intervention in cases of abuse |
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How does stress occur?
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Stress occurs when there’s an imbalance
between the demands of our lives and resourceswe have to deal with those demands. |
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What’s the first step when dealing with stress?
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The first step to take when dealing with stress is
to 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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Some of the ways you can combat stress are—
a. Exercise b. Diet c. Meditation d. Laughter e. Relaxation techniques f. Involvement with outside activities |
