JKO Financial Planning for Transition Questions and Answers

What documents can you have prepared for free while in the Service?

All of the answers are correct

What are reasons for reviewing your credit report? (select all that apply).

Dispute discrepancies
Ensure accuracy of information
View your credit score
(wrong)

What questions should you ask about a company 401(k) or 403(b) plan? (select all that apply)

Is there a waiting period to receive a company match?
When will I be fully vested?
Does the plan have a company match?

What possible tax-related changes might you experience after you separate from the Service? (select all that apply).

Certain state tax exemptions are eliminated
Certain federal tax exemptions are eliminated
(wrong)

What components make up two-thirds of your total FICO score? (select all that apply).

Amounts Owed
Payment History

What is an element of a budget?

Income

What type of compensation might be offered in a typical civilian compensation plan?

Subsidized group health insurance

Cash on hand is an example of:

An asset

When you contribute to a TSP or 401(k):

Your taxable pay is reduced

All are factors in determining the cost of living EXCEPT:

Student loans