BTEC BUSINESS LEVEL 3 EXAM QUESTIONS with
Verified 100% Correct Answers| Latest 2024/2025
update
Outline two benefits of online banking. - ✔✔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 - ✔✔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. - ✔✔Jenny can plan
expenditure and ensure she does not overspend
Identify two sources of advice and guidance about personal finance. - ✔✔citizens
advice
IFA
Money advice service
Give two ways that customers can contact and interact with their bank. - ✔✔Face to
face
, branch
telephone
Discuss how useful break-even analysis can be to a small business such as Treasures. -
✔✔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 - ✔✔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. - ✔✔Drawings
are assets which are taken out of a company by its owners for personal use
Identify two different types of current accounts. - ✔✔Standard
Packaged
Premium
Identify two features of travel insurance - ✔✔Loss / theft of belongings
cancelled flight
Give two different types of financial institutions. - ✔✔Bank of England
Building societies
Banks
Verified 100% Correct Answers| Latest 2024/2025
update
Outline two benefits of online banking. - ✔✔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 - ✔✔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. - ✔✔Jenny can plan
expenditure and ensure she does not overspend
Identify two sources of advice and guidance about personal finance. - ✔✔citizens
advice
IFA
Money advice service
Give two ways that customers can contact and interact with their bank. - ✔✔Face to
face
, branch
telephone
Discuss how useful break-even analysis can be to a small business such as Treasures. -
✔✔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 - ✔✔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. - ✔✔Drawings
are assets which are taken out of a company by its owners for personal use
Identify two different types of current accounts. - ✔✔Standard
Packaged
Premium
Identify two features of travel insurance - ✔✔Loss / theft of belongings
cancelled flight
Give two different types of financial institutions. - ✔✔Bank of England
Building societies
Banks
