BTEC BUSINESS- UNIT 3
FINANCE LATEST EXAM
VERSION 2026
QUESTIONElectronic transfer - answer-The transfer of
funds from one account to another via the internet or
telephone
QUESTIONDirect debit - answer-An electronic payment
out of an account. The amount and frequency of a direct
debit payment can vary
QUESTIONStanding order - answer-n. an instruction to a
bank to make regular payments
Cash - answer-Money in the form of bills or coins
QUESTIONDebit card - answer-A card used to withdraw
money from a bank account
QUESTIONCredit card - answer-A card authorizing the
holder to buy goods and services that can be paid for
later.
, QUESTIONCheque - answer-A written instruction to your
bank to pay a sum of money to another person from your
current account
QUESTIONContactless card - answer-Cards containing
antennae allow money to be transferred when the card
touches a contactless terminal
QUESTIONStore card - answer-a credit card which can
only be used to buy goods in one particular shop or chain
of shops
QUESTIONMobile banking - answer-apps that allow
online banking access from devices such as smart
phones, tablets, etc.
QUESTIONBACS - answer-Bankers Automated Clearing
Services
QUESTIONCHAPS - answer-Clearing House Automated
Payments System
QUESTIONStandard current account - answer-Account
with full banking facilities
QUESTIONPremium current account - answer-An account
with a fee entitling the user to extra services
FINANCE LATEST EXAM
VERSION 2026
QUESTIONElectronic transfer - answer-The transfer of
funds from one account to another via the internet or
telephone
QUESTIONDirect debit - answer-An electronic payment
out of an account. The amount and frequency of a direct
debit payment can vary
QUESTIONStanding order - answer-n. an instruction to a
bank to make regular payments
Cash - answer-Money in the form of bills or coins
QUESTIONDebit card - answer-A card used to withdraw
money from a bank account
QUESTIONCredit card - answer-A card authorizing the
holder to buy goods and services that can be paid for
later.
, QUESTIONCheque - answer-A written instruction to your
bank to pay a sum of money to another person from your
current account
QUESTIONContactless card - answer-Cards containing
antennae allow money to be transferred when the card
touches a contactless terminal
QUESTIONStore card - answer-a credit card which can
only be used to buy goods in one particular shop or chain
of shops
QUESTIONMobile banking - answer-apps that allow
online banking access from devices such as smart
phones, tablets, etc.
QUESTIONBACS - answer-Bankers Automated Clearing
Services
QUESTIONCHAPS - answer-Clearing House Automated
Payments System
QUESTIONStandard current account - answer-Account
with full banking facilities
QUESTIONPremium current account - answer-An account
with a fee entitling the user to extra services
