NJROTC Academic Team NS4 Textbook Quizlet

Articulation agreement

Allows students to transfer to a four-year college/university after earning an associates degree

Air Force Academy

Colorado Springs, Colorado

Coast Guard Academy

New London, Connecticut

Naval Academy

Annapolis, Maryland

United States Military Academy

West Point, New York

Merchant Marine Academy

Kings Point, New York

Senior military colleges

Norwich University, The Citadel, Texas A&M, University of Northern Georgia, Virginia Military Institute, Virginia Polytechnic

Military junior colleges

Georgia Military College, Marion Military Institute, New Mexico Military Institute, Valley Forge Military Academy

ASVAB

Armed Services Vocational Aptitude Battery

How many colleges have ROTC units?

1700+

SMART

Specific, Measurable, Attainable, Realistic, Time-bound

GED

General Education Development

Asset

property owned by a person or company, regarded as having value

Return

the money made or lost on an investment over some period of time

Risk

The chance of an investment declining in value

Gross pay

the total amount you earn before any deductions are subtracted

Direct Deposit

the electronic transfer of a payment directly from the account of the payer to the recipient's account.

Windfall

unexpected financial gain

Liquidity

the ease with which an asset can be converted into cash

Discretionary spending

Non-necessary spending

50/30/20 rule

50% fixed living expenses, 30% discretionary spending, 20% savings and paying off debt

Reconcile

To compare two sets of financial records to verify that figures are correct and in agreement

Rate of return

the net gain or loss on an investment over a specified time period, expressed as a percentage of the investment's initial cost

Equation for rate of return

Cost of investment minus current value, divided by cost of investment

Risk tolerance

the degree of variability in investment returns that an investor is willing to withstand

Shares

A percentage of ownership in a company or a financial asset

Securities

Financial investments with some monetary value

Maturity

The date when an investment is repaid to the investor along with earned interest

Diversification

The act of investing in a variety of different industries, areas, and financial instruments

Portfolio

A collection of investments

Formula for simple interest

Interest= P x R x T, where P= principal, R= interest rate, T= term of the loan

Rule of 72

The number of years it takes for a certain amount to double in value is equal to 72 divided by its annual rate of interest.

Principal

The amount of money borrowed

Interest rate

Percentage of amount borrowed to be added to the amount loaned and paid back

Term

The timeframe in which a loan must be repaid

Payday loan

A short-term, high-interest loan that usually must be repaid on the borrower's next payday.

Cosigner

A person who pledges to pay back the loan if you do not

APR

Annual Percentage Rate

Closing costs

Expenses involved in the paperwork and process to officially take ownership

Escrow

a legal arrangement in which a third party temporarily holds money or property until a particular condition has been met

Factors determining credit score

Payment history, amounts owed, length of credit history, types of credit used, new credit

Grace period

The amount of time before an interest starts accumulating on charged purchases

DTI

Debt to Income ratio

Withhold

Deduct money for taxes from an employee's paycheck and send it directly to the government

Itemize deductions

expenses you can subtract from adjusted gross income to determine your taxable income

Dependents

a person who depends on the person being taxed for food, clothing, and shelter

401k

A retirement account offered through an employer, where an employee can contribute money from his or her

paycheck before or after taxes.

IRS Form W-2, Wage and Tax Statement

The form an employer is required to send to each employee and to the IRS at the end of the year

Beneficiary

The person(s) who will receive the payout after you pass away

Main categories of life insurance

Term and permanent

Liability

The state of being legally responsible for something

Which gender is more likely to be involved in car accidents?

Male

No-fault law

Requires every driver to file a claim with their own insurance company regardless of who was at fault

Out-of-network

not contracted with the health plan

Copay

a fixed fee you pay for specific medical services

Fair Market Value

Estimated amount a buyer and seller would likely agree upon under current normal conditions

How much of your gross income should you contribute to retirement?

10 percent

IRA

Individual Retirement Account

What is the difference between a traditional and Roth IRA?

Traditional- withdrawn funds are taxable but not contributed funds

Roth- contributed funds are taxable but not withdrawn funds

TSP (Thrift Savings Plan)

401k for service members

BLS (Blended Retirement System)

Pension plus TSP

End state

The final outcome at the successful completion of a military operation

Cognizant

having knowledge or being aware of

OCS

Officer Candidate School

Bottom line

The readiness of the unit, trust in their leaders, and level of morale

Tenets

A principle or belief

Candor

unreserved, honest, or sincere expression

Foot stomp

A way to highlight important information

Penchant

a strong inclination or liking

Kudos

praise for an achievement

Leave

Permission to be away from one's unit

Core values

the deeply ingrained principles that guide all of a company's actions and decisions, and they serve as cultural cornerstones.

Collateral damage

injury inflicted on something other than an intended target

Ardent

enthusiastic or passionate

Apprised

Informed or to tell others

PCO

Pre-commissioning Officer

Autonomy

The quality or state of being self-governing

Perishable skills

Critical skills that are not practiced on a regular basis decline

Insidious

proceeding in a gradual, subtle way, but with harmful effects

Cynicism

an inclination to believe that people are motivated purely by self-interest; skepticism.

Kinaole

Do the right thing, at the right time, with the right spirit to our customers and clients every time

Professor emeritus

An honorary title for a retired professor who wants to stay active in scholarship following retirement

Apartheid

In South Africa, a policy or system of segregation or discrimination on grounds of race

Fortune 50

A ranking of the global companies that show the best prospects for sustained, long-term growth

Watch Bill

Shows the assignments of Sailors for a division regardless of whether underway or in port

What is the core value expected of a military officer according to VADM James Stockdale?

Personal integrity

Coalesce

come together and form one mass or whole

Litmus test

A test in which a question reveals the true measure of one's ethics, morals, honesty, and/or honor

Junk

Chinese sailing ship

Emaciated

abnormally thin or weak, especially because of illness or a lack of food.

Standing orders

A written discourse that illustrates the commanding officer's views on how he or she wants the ship to operate

Dereliction of duty

Deliberate or accidental failure to do what you should do as part of your job

My Lai Massacre

In 1968 American troops massacred women and children in the Vietnamese village of My Lai; this deepened American people's disgust for the Vietnam War.

Acquitted

free (someone) from a criminal charge by a verdict of not guilty.

Ostracized

exclude (someone) from a society or group.

Impetus

the force that makes something happen or happen more quickly

Social mores

The customs, norms, and behaviors that are acceptable to a society or social group

Internet

An electronic communications network that connects computer networks and organizational computer facilities around the world.

Cyberspace

The network of interconnected computers that span the globe and the information that traverses and is stored in it

Cloud

Data storage off-site from where the users are and accessed through the internet