BTEC Business- Unit 3 Finance revision EXAM || MOST RECENT EXAM ACTUAL COMPLETE REAL EXAM QUESTIONS AND CORRECT ANSWERS (VERIFIED ANSWERS) ALREADY GRADED A+ | GUARANTEED SUCCESS!! NEWEST EXAM | JUST RELEASED!!

BTEC Business- Unit 3 Finance revision EXAM || MOST
RECENT EXAM ACTUAL COMPLETE REAL EXAM
QUESTIONS AND CORRECT ANSWERS (VERIFIED
ANSWERS) ALREADY GRADED A+ | GUARANTEED
SUCCESS!! NEWEST EXAM | JUST RELEASED!!




Standard current account


Account with full banking facilities


Premium current account


An account with a fee entitling the user to extra services


Basic current account


Account with limited facilities usually used by someone with a poor credit
rating

Student account


Account designed to assist young people to become prudent with their
personal finances


Overdraft


Occurs when money is withdrawn from a bank account and the available
balance goes below zero

, Personal loan


Not backed up by collateral. Also known as an unsecured loan


Hire purchase


The buying of equipment by paying in instalments, usually including interest.


Mortgage


A payment, usually monthly, applied to the balance of a home loan used when
purchasing housing


Payday loan


a high interest loan where money is borrowed against a future paycheck


ISA


Individual savings account


DSA


Deposit and savings account


Premium bonds


Government scheme allowing individuals to save a set amount in return for
being entered into prize draw monthly