BTEC FINANCE FINA EXAM 2025/2026 – 100%
COMPLETE GLOSSARY OF BANKING, LOANS &
PAYMENT METHODS WITH VERIFIED ANSWERS
1. Unit of Account - It allows us to place a monetary value on goods and
services.
2. Means of Exchange - It allows us to trade.
3. Store of Value - It allows us to use it in the future as it retains its value.
4. Legal Tender - It is a legally recognized form of payment.
5. Interest Rate - The proportion of an amount that is charged as interest to the
borrower.
6. Debt - Money owed.
7. Credit Rating - A score given to individuals on how likely they are to repay debts
based upon their previous actions.
8. Bankrupt - When and individual or organization legally states its inability to repay
debts.
9. Solvent - The ability to meet day-to-day expenditure and repay debts.
10. Cash - Notes and coins in a wide range of denominations
COMPLETE GLOSSARY OF BANKING, LOANS &
PAYMENT METHODS WITH VERIFIED ANSWERS
1. Unit of Account - It allows us to place a monetary value on goods and
services.
2. Means of Exchange - It allows us to trade.
3. Store of Value - It allows us to use it in the future as it retains its value.
4. Legal Tender - It is a legally recognized form of payment.
5. Interest Rate - The proportion of an amount that is charged as interest to the
borrower.
6. Debt - Money owed.
7. Credit Rating - A score given to individuals on how likely they are to repay debts
based upon their previous actions.
8. Bankrupt - When and individual or organization legally states its inability to repay
debts.
9. Solvent - The ability to meet day-to-day expenditure and repay debts.
10. Cash - Notes and coins in a wide range of denominations
