BTEC 3320 EXAM 2 QUESTIONS AND
ANSWERS 2026 EXAM TEST PAPER COMPLETE
QUESTIONS AND ANSWERS ALREADY PASSED
◉ Debit card. Answer: A card used to withdraw money from a bank
account
◉ Credit card. Answer: A card authorizing the holder to buy goods
and services that can be paid for later.
◉ Cheque. Answer: A written instruction to your bank to pay a sum
of money to another person from your current account
◉ Electronic transfer. Answer: The transfer of funds from one
account to another via the internet or telephone
◉ Direct debit. Answer: An electronic payment out of an account.
The amount and frequency of a direct debit payment can vary
◉ Standing order. Answer: n. an instruction to a bank to make
regular payments
, ◉ Contactless card. Answer: Cards containing antennae allow money
to be transferred when the card touches a contactless terminal
◉ Store card. Answer: a credit card which can only be used to buy
goods in one particular shop or chain of shops
◉ Mobile banking. Answer: apps that allow online banking access
from devices such as smart phones, tablets, etc.
◉ BACS. Answer: Bankers Automated Clearing Services
◉ CHAPS. Answer: Clearing House Automated Payments System
◉ Standard current account. Answer: Account with full banking
facilities
◉ Premium current account. Answer: An account with a fee entitling
the user to extra services
◉ Basic current account. Answer: Account with limited facilities
usually used by someone with a poor credit rating
◉ Student account. Answer: Account designed to assist young
people to become prudent with their personal finances
ANSWERS 2026 EXAM TEST PAPER COMPLETE
QUESTIONS AND ANSWERS ALREADY PASSED
◉ Debit card. Answer: A card used to withdraw money from a bank
account
◉ Credit card. Answer: A card authorizing the holder to buy goods
and services that can be paid for later.
◉ Cheque. Answer: A written instruction to your bank to pay a sum
of money to another person from your current account
◉ Electronic transfer. Answer: The transfer of funds from one
account to another via the internet or telephone
◉ Direct debit. Answer: An electronic payment out of an account.
The amount and frequency of a direct debit payment can vary
◉ Standing order. Answer: n. an instruction to a bank to make
regular payments
, ◉ Contactless card. Answer: Cards containing antennae allow money
to be transferred when the card touches a contactless terminal
◉ Store card. Answer: a credit card which can only be used to buy
goods in one particular shop or chain of shops
◉ Mobile banking. Answer: apps that allow online banking access
from devices such as smart phones, tablets, etc.
◉ BACS. Answer: Bankers Automated Clearing Services
◉ CHAPS. Answer: Clearing House Automated Payments System
◉ Standard current account. Answer: Account with full banking
facilities
◉ Premium current account. Answer: An account with a fee entitling
the user to extra services
◉ Basic current account. Answer: Account with limited facilities
usually used by someone with a poor credit rating
◉ Student account. Answer: Account designed to assist young
people to become prudent with their personal finances
