BTEC BUSINESS LEVEL 3 EXAM
Give two features of a premium current account. - correct answertravel insurance
cinema tickets
Monthly fee
Describe the role of the Financial Ombudsman Service. - correct answeracts as an independent assessor
when dealing with complaints between consumers and financial service providers
Explain two benefits of pre-paid credit cards of the type used when on holiday - correct answerit allows
you to take money on holiday in a safe and secure way because if the pre-paid credit card is stolen it
cannot be used without the PIN.
Another reason is that it will allow you to control spending as the card will be up to a fixed amount
Identify two types of intangible non-current assets. - correct answerGoodwill
Patent
Trademarks
Outline what is meant by 'capital income' - correct answerMoney invested by owners to set up a
business
Give two functions of money. - correct answerUnit of account
Means of exchange
State two areas of guidance given by Citizens Advice - correct answertax
debt
benefits
, Outline two benefits of online banking. - correct answer24 hr access and monitor accounts in real time
Access account anywhere in the world , therefore conducting business faster
Discuss the differences between direct debits and standing orders - correct answerDirect debit - usually
will be taken on a set agreed date and Direct Debit Guarantee protects customers from payments taken
in error
Standing order - you can cancel the standing order when
you like and customer sets it up to pay other people
Outline one benefit to Jenny of using a cash flow forecast. - correct answerJenny can plan expenditure
and ensure she does not overspend
Identify two sources of advice and guidance about personal finance. - correct answercitizens advice
IFA
Money advice service
Give two ways that customers can contact and interact with their bank. - correct answerFace to face
branch
telephone
Discuss how useful break-even analysis can be to a small business such as Treasures. - correct answerit
shows whether a product is worth selling or is too risky.
it shows how many products they need to sell to ensure a profit.
Outline what a 'semi-variable cost' is - correct answerPart of the cost stays the same and part varies in
relation to the
degree of business activity
Give two features of a premium current account. - correct answertravel insurance
cinema tickets
Monthly fee
Describe the role of the Financial Ombudsman Service. - correct answeracts as an independent assessor
when dealing with complaints between consumers and financial service providers
Explain two benefits of pre-paid credit cards of the type used when on holiday - correct answerit allows
you to take money on holiday in a safe and secure way because if the pre-paid credit card is stolen it
cannot be used without the PIN.
Another reason is that it will allow you to control spending as the card will be up to a fixed amount
Identify two types of intangible non-current assets. - correct answerGoodwill
Patent
Trademarks
Outline what is meant by 'capital income' - correct answerMoney invested by owners to set up a
business
Give two functions of money. - correct answerUnit of account
Means of exchange
State two areas of guidance given by Citizens Advice - correct answertax
debt
benefits
, Outline two benefits of online banking. - correct answer24 hr access and monitor accounts in real time
Access account anywhere in the world , therefore conducting business faster
Discuss the differences between direct debits and standing orders - correct answerDirect debit - usually
will be taken on a set agreed date and Direct Debit Guarantee protects customers from payments taken
in error
Standing order - you can cancel the standing order when
you like and customer sets it up to pay other people
Outline one benefit to Jenny of using a cash flow forecast. - correct answerJenny can plan expenditure
and ensure she does not overspend
Identify two sources of advice and guidance about personal finance. - correct answercitizens advice
IFA
Money advice service
Give two ways that customers can contact and interact with their bank. - correct answerFace to face
branch
telephone
Discuss how useful break-even analysis can be to a small business such as Treasures. - correct answerit
shows whether a product is worth selling or is too risky.
it shows how many products they need to sell to ensure a profit.
Outline what a 'semi-variable cost' is - correct answerPart of the cost stays the same and part varies in
relation to the
degree of business activity
