BTEC BUSINESS LEVEL 3 EXAM
QUESTIONS comprehensive Questions
and Answers with Verified Solutions
Question 1:
Give two features of a premium current account.
Answer:
travel insurance cinema tickets Monthly fee
Question 2:
Describe the role of the Financial Ombudsman Service.
Answer:
acts as an independent assessor when dealing with complaints between
consumers and financial service providers
Question 3:
Explain two benefits of pre-paid credit cards of the type used when on
holiday
Answer:
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
Question 4:
Identify two types of intangible non-current assets.
Answer:
Goodwill Patent Trademarks
,Question 5:
Outline what is meant by 'capital income'
Answer:
Money invested by owners to set up a business
Question 6:
Give two functions of money.
Answer:
Unit of account Means of exchange
Question 7:
State two areas of guidance given by Citizens Advice
Answer:
tax debt benefits
Question 8:
Outline two benefits of online banking.
Answer:
24 hr access and monitor accounts in real time Access account anywhere
in the world , therefore conducting business faster
Question 9:
Discuss the differences between direct debits and standing orders
Answer:
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
, Question 10:
Outline one benefit to Jenny of using a cash flow forecast.
Answer:
Jenny can plan expenditure and ensure she does not overspend
Question 11:
Identify two sources of advice and guidance about personal finance.
Answer:
citizens advice IFA Money advice service
Question 12:
Give two ways that customers can contact and interact with their bank.
Answer:
Face to face branch telephone
Question 13:
Discuss how useful break-even analysis can be to a small business such
as Treasures.
Answer:
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.
Question 14:
Outline what a 'semi-variable cost' is
Answer:
Part of the cost stays the same and part varies in relation to the degree of
business activity
QUESTIONS comprehensive Questions
and Answers with Verified Solutions
Question 1:
Give two features of a premium current account.
Answer:
travel insurance cinema tickets Monthly fee
Question 2:
Describe the role of the Financial Ombudsman Service.
Answer:
acts as an independent assessor when dealing with complaints between
consumers and financial service providers
Question 3:
Explain two benefits of pre-paid credit cards of the type used when on
holiday
Answer:
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
Question 4:
Identify two types of intangible non-current assets.
Answer:
Goodwill Patent Trademarks
,Question 5:
Outline what is meant by 'capital income'
Answer:
Money invested by owners to set up a business
Question 6:
Give two functions of money.
Answer:
Unit of account Means of exchange
Question 7:
State two areas of guidance given by Citizens Advice
Answer:
tax debt benefits
Question 8:
Outline two benefits of online banking.
Answer:
24 hr access and monitor accounts in real time Access account anywhere
in the world , therefore conducting business faster
Question 9:
Discuss the differences between direct debits and standing orders
Answer:
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
, Question 10:
Outline one benefit to Jenny of using a cash flow forecast.
Answer:
Jenny can plan expenditure and ensure she does not overspend
Question 11:
Identify two sources of advice and guidance about personal finance.
Answer:
citizens advice IFA Money advice service
Question 12:
Give two ways that customers can contact and interact with their bank.
Answer:
Face to face branch telephone
Question 13:
Discuss how useful break-even analysis can be to a small business such
as Treasures.
Answer:
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.
Question 14:
Outline what a 'semi-variable cost' is
Answer:
Part of the cost stays the same and part varies in relation to the degree of
business activity
