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23 Cards in this Set

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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.
List the three types of pay the Navy uses.
The three types of pay are—
a. Basic
b. Incentive
c. Special
What system is used to deposit Navy personnel
paychecks?
The Navy uses the Direct Deposit System
(DDS) to deposit personnel paychecks.
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
Q5. How often do you receive your clothing
maintenance allowance?
You receive your clothing maintenance
allowance once a year.
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.
How many days of leave do you earn per year?
You earn 30 days a year or 2.5 days of leave per
month.
The CO may grant how many days of special
liberty?
The CO may grant 3- or 4-day special liberty
periods.
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.
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.
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.
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!
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.
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.
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.
You can secure SGLI in what increments?
SGLI is available in increments of $10,000
only.
What is the maximum amount of coverage for
SGLI?
The maximum amount of coverage under SGLI
is $200,000.
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.
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.
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
How does stress occur?
Stress occurs when there’s an imbalance
between the demands of our lives and
resourceswe have to deal with those demands.
What’s the first step when dealing with stress?
The first step to take when dealing with stress is
to identify your stressors; that is, find out
what causes the stress.
List some of the ways you can combat stress.
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