BTEC BUSINESS LEVEL 3 EXAM
QUESTIONS WITH CORRECT ANSWERS
Give /two /features /of /a /premium /current /account. /- /verified /answer(s)-✔✔travel /insurance
cinema /tickets
Monthly /fee
Describe /the /role /of /the /Financial /Ombudsman /Service. /- /verified /answer(s)-✔✔acts /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 /- /verified
/answer(s)-✔✔it /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. /- /verified /answer(s)-✔✔Goodwill
Patent
Trademarks
Outline /what /is /meant /by /'capital /income' /- /verified /answer(s)-✔✔Money /invested /by /owners
/to /set /up /a /business
Give /two /functions /of /money. /- /verified /answer(s)-✔✔Unit /of /account
,Means /of /exchange
State /two /areas /of /guidance /given /by /Citizens /Advice /- /verified /answer(s)-✔✔tax
debt
benefits
Outline /two /benefits /of /online /banking. /- /verified /answer(s)-✔✔24 /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 /- /verified /answer(s)-
✔✔Direct /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. /- /verified /answer(s)-✔✔Jenny /can
/plan /expenditure /and /ensure /she /does /not /overspend
Identify /two /sources /of /advice /and /guidance /about /personal /finance. /- /verified /answer(s)-
✔✔citizens /advice
IFA
Money /advice /service
, Give /two /ways /that /customers /can /contact /and /interact /with /their /bank. /- /verified /answer(s)-
✔✔Face /to /face /
branch /
telephone
Discuss /how /useful /break-even /analysis /can /be /to /a /small /business /such /as /Treasures. /-
verified /answer(s)-✔✔it /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 /- /verified /answer(s)-✔✔Part /of /the /cost /stays /the /same
/and /part /varies /in /relation /to /the /
degree /of /business /activity
Outline /what /is /meant /by /the /term /'drawings' /in /a /financial /document. /- /verified /answer(s)-
✔✔Drawings /are /assets /which /are /taken /out /of /a /company /by /its /owners /for /personal /use
Identify /two /different /types /of /current /accounts. /- /verified /answer(s)-✔✔Standard /
Packaged
Premium
Identify /two /features /of /travel /insurance /- /verified /answer(s)-✔✔Loss // /theft /of /belongings
cancelled /flight
Give /two /different /types /of /financial /institutions. /- /verified /answer(s)-✔✔Bank /of /England
Building /societies
QUESTIONS WITH CORRECT ANSWERS
Give /two /features /of /a /premium /current /account. /- /verified /answer(s)-✔✔travel /insurance
cinema /tickets
Monthly /fee
Describe /the /role /of /the /Financial /Ombudsman /Service. /- /verified /answer(s)-✔✔acts /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 /- /verified
/answer(s)-✔✔it /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. /- /verified /answer(s)-✔✔Goodwill
Patent
Trademarks
Outline /what /is /meant /by /'capital /income' /- /verified /answer(s)-✔✔Money /invested /by /owners
/to /set /up /a /business
Give /two /functions /of /money. /- /verified /answer(s)-✔✔Unit /of /account
,Means /of /exchange
State /two /areas /of /guidance /given /by /Citizens /Advice /- /verified /answer(s)-✔✔tax
debt
benefits
Outline /two /benefits /of /online /banking. /- /verified /answer(s)-✔✔24 /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 /- /verified /answer(s)-
✔✔Direct /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. /- /verified /answer(s)-✔✔Jenny /can
/plan /expenditure /and /ensure /she /does /not /overspend
Identify /two /sources /of /advice /and /guidance /about /personal /finance. /- /verified /answer(s)-
✔✔citizens /advice
IFA
Money /advice /service
, Give /two /ways /that /customers /can /contact /and /interact /with /their /bank. /- /verified /answer(s)-
✔✔Face /to /face /
branch /
telephone
Discuss /how /useful /break-even /analysis /can /be /to /a /small /business /such /as /Treasures. /-
verified /answer(s)-✔✔it /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 /- /verified /answer(s)-✔✔Part /of /the /cost /stays /the /same
/and /part /varies /in /relation /to /the /
degree /of /business /activity
Outline /what /is /meant /by /the /term /'drawings' /in /a /financial /document. /- /verified /answer(s)-
✔✔Drawings /are /assets /which /are /taken /out /of /a /company /by /its /owners /for /personal /use
Identify /two /different /types /of /current /accounts. /- /verified /answer(s)-✔✔Standard /
Packaged
Premium
Identify /two /features /of /travel /insurance /- /verified /answer(s)-✔✔Loss // /theft /of /belongings
cancelled /flight
Give /two /different /types /of /financial /institutions. /- /verified /answer(s)-✔✔Bank /of /England
Building /societies
