Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

WOCS Exam 4 > Supervise the Implementation of Financial Readiness Actions > Flashcards

Supervise the Implementation of Financial Readiness Actions Flashcards

1
Q

DEERS

A

Defense Eligibility Enrollment System

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Those eligible for a family member ID card are:

A
  • Spouse
  • Children age 10 and older
  • Children under age 10 if Soldier is a sole parent, divorced, or both parents are in the Army
  • Dependent parents
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Army Community Services (ACS) assist in 5 major areas:

A
  1. Deployment/Mobilization and Stability and support operations readiness
  2. Soldier and Family Readiness
  3. Relocation Readiness
  4. Employment Readiness
  5. Financial Readiness
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

___ is an Army sponsored fund relying on contributions and dedicated to taking care of Soldiers and their families.

A

Army Emergency Relief (AER)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

___ is a comprehensive network of support and leisure services designed to enhance the lives of Soldiers and their families. Trips, movies, pools,

A

Morale, Welfare, and Recreation (MWR)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

5 Army Family Resources

A
  1. Army Community Services
  2. Army Emergency Relief- grants, scholarships
  3. Morale, Welfare, and Recreation
  4. Family Housing (on base housing)
  5. Legal Assistance Office (cannot represent you in court)- wills, tax assistance, employment.
    SERVICE MEMBERS CIVIL RELIEF ACT OF 2003
    -get out of leases, debts, when deployed
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Other available assistance and resources OUTSIDE the Army:

A
  1. Department of Veterans Affairs (VA)
  2. American Red Cross
  3. Army Retirement Services
  4. Social Security Administration- disability and survivor benefits
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

___ provides health care options for family members and retirees.

A

TRICARE

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

3 TRICARE plans:

A
  1. TRICARE Prime- no cost share, no CHAMPUS deductible
  2. TRICARE Extra- reduced cost shares, with CHAMPUS deductible
  3. TRICARE Standard- most freedom of choice
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

DFAS (pay)

A

The Defense Finance and Accounting Service

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

12 Sections of Leave and Earnings Statement

A
  1. ID Section- pay, years of service, ETS
  2. Entitlements Section (BAH, Base pay)
  3. Deductions Section (Fed taxes, SGLI, medicare)
  4. Allotments Section (optional, savings, spouses account)
  5. Summary Section (totals everything above)
  6. Leave Section
  7. Federal Taxes Section
  8. Federal Income Contribution Act Section (FICA)
  9. State Taxes Section
  10. Pay Data Section
  11. Thrift Savings Plan (TSP) Section
  12. Remarks Section
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Section contains Pay date, years of service, and ETS (LES)

A

ID Section

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Section lists the specific types of military pay a soldier is entitled (eg. BAH) (LES)

A

Entitlements Section

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Section includes Fed Taxes, FICA, Medicare (LES)

A

Deductions Section

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

lists specific deductions the soldier has authorized to be paid to a designated payee such as AER , Tricare dental (LES)

A

Allotments Section

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Section with computations made to determine a soldier’s end of month pay. (LES)

A

Summary Section

17
Q

Contains data pertaining to the soldier’s leave for the current and prior fiscal year. (LES)

A

Leave Section

18
Q

Contains Wage and Tax info. (LES)

A

Federal Taxes Section

19
Q

contains data pertaining to the deduction of Social Security and medicare taxes. (LES)

A

Federal Income Contribution Act Section

20
Q

reflects data used in computing certain entitlements such as BAH (LES)

A

Pay Data Section

21
Q

TSP (LES)

A

Thrift Savings Plan Section

22
Q

Provides information referencing any action affecting a soldier’s pay (LES)

A

Remarks Section

23
Q

There are 3 important base pay dates in your records:

A
  1. Pay Entry Basic Date (PEBD)
  2. Basic Active Service Date (BASD)
  3. Date Initially Entered Military Service (DIEMS)
24
Q

___ bridges the difference for a Soldier advanced to a higher pay grade but receiving less pay. It considers all pay and allowances to which the individual would be entitled if still enlisted.

A

saved pay

25
Q

9 types of Special Pay:

A
  1. Proficiency/Special Duty Assignment Pay (enlisted)
  2. Enlistment and Reenlistment Bonus (enlisted)
  3. Hostile fire/imminent danger pay
  4. Diving duty pay
  5. Overseas tour extension pay (enlisted)
  6. Hardship Duty Pay for Mission/Location
  7. Sea duty pay
  8. Foreign Language proficiency pay
  9. Aviator Retention Bonus (6-13 years aviation service)
26
Q

6 examples of Incentive Pay:

A
  1. Aviation Career Incentive Pay (ACIP)
  2. Hazardous Duty Incentive Pay (HDIP) (flying duty)
  3. Parachute duty
  4. Demolition duty
  5. Experimental stress duty (acceleration, deceleration, thermal stress, high pressure)
  6. Others (toxic fuels, chemical munitions)
27
Q

7 examples of Allowances (not taxed):

A
  1. Basic allowance for housing (BAH)
  2. Overseas housing allowance (OHA)
  3. Basic allowance for subsistence (BAS)
  4. Cost of living allowance (COLA)- supplement to income in high-cost areas
  5. Family Separation allowance (FSA)- involuntarily separated for 30+ days. Type 1 and 2
  6. Clothing replacement allowance- enlisted, yearly
  7. Officer’s uniform and equipment allowance- one-time payment when appointed
28
Q

What is DA Form 2142?

A

Pay Inquiries, submit if you think the army owes you money, or if you owe.

29
Q

What is DD Form 93?

A

Record of Emergency Data

30
Q

What is Death Gratuity Pay?

A

$100k paid within 72 hours of death

31
Q

What is SGLI? (pay)

A

Servicemember’s Group Life Insurance

32
Q

___ SGLI provides an automatic additional $150,000 coverage for members in designated combat zones.

A

Combat

33
Q

___ SGLI is a one-time payment up to $100,000 for Soldiers who are injured as a result of a traumatic event

A

Traumatic

34
Q

___ SGLI is automatically added with Soldier for the Family. Soldier is beneficiary.

A

Family

35
Q

What is VGLI? (pay)

A

Veteran’s Group Life Insurance

more expensive, renew every 5 years

36
Q

6 types of Life Insurance:

A 
SGLI (no war clause or flying restrictions)
Combat SGLI
Family SGLI
Traumatic SGLI
Veterans GLI
Commercial Life Insurance
37
Q

Quality of Life Agencies

A 
PX
Gas
post office
chapels
libraries
crafts centers
theaters
club system
ticketing
38
Q

types of Beneficiaries:

A

Principal
Contingent
Divorce (update!)

39
Q

BRS

A

Blended Retirement System

WOCS Exam 4 (11 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions