Shared Flashcard Set

Details

FM Block VIII PE 1a
Financial Management Officer Course
53
Finance
Graduate
06/02/2013

Additional Finance Flashcards

 


 

Cards

Term
Base Pay
Definition
What are the Basic entitlements for all military members if they are on active duty, in an active pay status and not prohibited by law from receiving such pay?
Term

- Years of creditable service

- Rank

 

Definition
How is Base pay determined?
Term
  1. Aviation Career Incentive Pay (ACIP)
  2. Hazardous Duty Incentive Pay (HDIP) 
  3. Career Enlisted Flight Incentive Pay
  4. Parachute Duty
  5. Demolition Duty
  6. Toxi Fuel (or Propellants) Duty
  7. Flight Deck Duty
  8.  Polar Region Flight Operations Duty

 

Complete list in DodFMR, Vol. 7A & AFMAN 65-116, Vol 1

 

Definition
List at least 8 incentive pays and where may a complete list be found.
Term
Paid to regular and reserve-rated officers who hold or are in training for an aeronautical rating and who remain in aviation service as a career choice
Definition
What are the requirements to receive ACIP?
Term

Non-rated officers and all enlisted members, serving as crewmembers or non-crew members

 

Definition
What are the requirements to receive HDIP?
Term

Crew-member - officer or enlisted member whose presence in the aircraft is required but has nothing to do with the actual operation of the aircraft

 

Non crew-member - an officer or enlisted person whose presence is not required in the aircraft, but whose duties require them to make regular flight

Definition
What distinguishes a crew member and non crewmember?
Term
Comprehensive statement of a member’s leave and earnings, shows entitlements, deductions, allotments leave information, tax withholding, and TSP information
Definition
What is a LES?
Term

State of Legal Residence

Emergency Pay & Allowance

Lost of Living Allowance (COLA) (overseas only)

BAH

BAS

FSA

 

Definition
What changes may be processed in the e-Finance system?
Term

w/Dep

w/o Dep

Partial Rate

Difference

Definition
What are the four types of BAH?
Term

- your dependents arrive on station with you

- E-7 (MSgt) or above

- Military couple & your spouse either arrived with you or is already stationed at base

Definition
When is BAS started at the full rate?
Term
- intended to partially reimburse members  involuntarily separated from their dependents fro the extra expenses resulting from such a separation
Definition
What is the purpose of FSA?
Term
- continuously for more than 30 days
Definition
What is the period of time members must be separated from dependents before their FSA entitlement begins?
Term
- provide member with additional funds to meet the extraordinary expenses of PCS or advance housing  move for which there is no direct reimbursement
Definition
What is the purpose of Advance Pay?
Term

PCS - one month's basic pay less deductions (taxes/other)

Advance Housing- determined on the anticipated housing expenses & authorized BAH entitlements

Definition
What is maximum advance pay allowable?
Term
- requested by the member due to an emergency or financial hardship
Definition
What is the purpose of a partial payment?
Term
- only for overseas areas where on-base military banking facilities are not readily available
Definition
When are casual payments authorized?
Term

- coverage continues for AWOL or confinement status

- AWOL 31 - SGLI will be stopped as of the end of the month in which a member is classified as a deserter on the 31st day of AWOL

Definition
What is the status of SGLI coverage when a member is in excess leave status?  AWOL 31 days?
Term

- regular enlisted members

- warrant officers

Definition
What military members are subject to AFRH deductions?
Term

- provides members with a source of retirement income in additional to their retirement pay

- voluntary participation retirement sayings & investment plan established fro military members

Definition
What is the purpose of the Thrift Savings Plan (TSP)?
Term

- Base Pay

- 100% of special, incentive pay, & bonuses up to federal limits

Definition
What amount may be invested in TSP?
Term

- Discretionary (dependent support, insurance, savings, home mortgage)

- Non-Discretionary (savings bonds, charity, AF Assistance Funds, debts due the US Gov)

Definition
What are the two types of allotments?
Term

Dependent Suport

Insurance

Savings

Home Mortgage

 

Definition
What are the classes of Discretionary allotments?
Term
provide off-base dental assistance for military members' dependents
Definition
What is the purpose of Tricare - Family Member Dental Program?
Term

Report of Survey -Held pecuniary liable for property lost, damaged, or destroyed

Over-payments of Pay and/or Allowances  - Overpayment for pay & allowance due to a stop or change to an entitlement

Excess Cost of Household Goods (HHG) - Member shipment of household goods exceeds the authorized weight allowance based on the members rank & dependency status

Damage to Government Housing - Report of Survey that assesses liability for damage, failure to satisfactorily clean or loss of equipment or furnishing to family housing or dormitories

Cost Charge Transportation Request - A member on leave issued a Transportation Request (TR) for return travel to his duty station

Dishonored Commissary Check - may be collected involuntarily; Member does not have to be notified by FMF for this particular indebtedness

 

Definition
Define the types of debts and definition.
Term
Dishonored Commissary Check
Definition
Which debt does not require the member be notified before collection?
Term
not be less than $50.00 per month unless justification on the grounds of financial hardship is accepted
Definition
What is the minimum deduction on indebtedness?
Term
  • Appeals
  • Rebuttal
  • Remissions
  • Waiver
  • Garnishments
Definition
What are the types or relief of Indebtednesses?
Term

TDY Travel

PCS Travel

Definition
What are the two main categories for travelers performing official Government travel?
Term
cash management tool designed to support U.S. military personnel deployed in combat zones & on peace-keeping missions.
Definition
What is Eagle Cash?
Term

Cashier / Paying Agent

Paying Agent  / Disbursing Agent

Customer Service

Definition
What financial experts at the deployed location will be called upon to provide guidance concerning pay entitlements and allowances?
Term

Basic Pay

Incentive Pay for Hazardous Duty

Special Pay

Lump-Sum Payment of accrual leave

Definition
What compensation is eligible CZTE?
Term

Enlisted - all of compensation for any month in which the member performs active duty in a combat zone on qualified hazardous duty area for one or more days

Officer - max pay exempted from tax is the amount equal to the highest rate of enlisted basic pay hostile fire/imminent danger pay

Definition
Regarding CZTE, what is the difference between enlisted and Officers?
Term
  • certified by an appropriate commander
  • subjected to hostile fire or explosion of a hostile mine
  • duty in a area in close proximity to a hostile fire incident
Definition
When is Hostile Fire Pay (HFP) payable?
Term
when member is on official duty in designated IDP area
Definition
When is Imminent Danger Pay payable?
Term
military members serving in a hostile fire environment
Definition
Who may receive IDP?
Term
to members entitled to basic pay, at a monthly rate while the member is performing duty designated by the Secretary of Defense as hardship duty
Definition
When is hardship duty payable?
Term
to member for either PCSs on temporary duty of over 30 days duration in specified locations
Definition
When is Hardship Duty-tyle L payable?
Term
to both officers & enlisted members for performing designated hardship mission for one or more days
Definition
When is Hardship Duty-type M payable?
Term
  • Law ensuring public access to U.S. government records 
  • FOIA Request
  • A written request for DoD records that reasonably describes the record(s) sought,
  •  Made by any person, including a member of the public (U.S. or foreign citizen/entity) 
Definition
What is FOIA and define FOIA Request
Term

Mandates that each United States Government agency have in place an administrative and physical security system to prevent the unauthorized release of personal records

Definition
Define Privace Act of 1974
Term
  •  On-line system used to maintain pay records 
  •  Passwords -  Users can change their passwords at any time for any reason, but individual passwords must be changed every 60 days

 

Definition
Define Defense Joint Minitary Pay System (DJMS) and password requirements.
Term

o   DJMS-AC  is used to pay active duty and reservists on military orders/active duty guardsmen (AGR)

Definition
Define DJMS-Active Component (AC).
Term

o   DJMS-RC is used to pay for Traditional/IMA and Technicians  

Definition
Define DJMS-Reserve Component (RC).
Term
  • User-friendly, windows-based system
  • Accounting for multiple orders for one TDY
  • Performing a constructive travel and cost comparison

Definition
Define Reserve Travel System (RTS).
Term

Electronic end-to-end travel management system that is transforming the costly and burdensome paper-based processes used in TDY travel into a streamlined, integrated, paperless system

Definition
Define Defense Travel System (DTS).
Term
  • Problems
  • Queries
  • Processes
Definition
Human Resources Case Management System (HR-CMS) cases are characterized as:
Term

 o   E1s receive their first increase after 4 months time in service (TIS) & 2ys

 o   Others - first longevity increase will be posted after completing 2 years of service

 o   All ranks will receive a longevity pay increase on their 3rd and 4th year anniversaries

 

Definition
In determining paydate, member longevity are years of creditable service a member has for pay purposes.  Explain how E1 and other ranks increase in longevity.
Term

BP is paid as if each month has 30 days

Can be prorated--paid on a daily basis (do not count the 31st day)

 

Example

  • Member enters active duty on 1 February in a non-leap year, you would pay 30 days of BP
  • Member separates on the 27th, you pay 27 days
  •  Member who separates on 28 February in a non-leap year would be paid for 30 days because the service ended on the last day of the month

 

 

 

Definition
Base Pay monthly entitlements:
Term

Longevity

Promotion

 

Definition
Factors used to determine an increase in a member's basic pay.
Term
  • Grade
  • Duty location
  • Dependency status

 

Definition
BAH entitlement is based on:
Term

o   Any entitlement ending in the word PAY is subject to Federal Income Tax Withholding (FITW)

 

o  Each state has different laws concerning taxes

 

Definition

 

Federal Taxes and Exemptions

 

State Taxes and Exemptions

 

Term

o    FICA tax is the combination of Social Security and Medicare

 

o   Basic Pay is the only item of a member’s income that is subject to FICA withholding

 

Definition

Federal Income Contribution Act (FICA)

Term
Mandatory
Definition
Direct Deposit is ______ by law for military personnel.
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