BTEC BUSINESS LEVEL 3 EXAM
QUESTIONS AND ANSWERS
Give two features of a premium current account. - - -
correct answer ✅travel insurance
cinema tickets
Monthly fee
Describe the role of the Financial Ombudsman Service. - - -
correct answer ✅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 - - -
correct 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
Identify two types of intangible non-current assets. - - -
correct answer ✅Goodwill
Patent
,BTEC BUSINESS LEVEL 3 EXAM
QUESTIONS AND ANSWERS
Trademarks
Outline what is meant by 'capital income' - - -
correct answer ✅Money invested by owners to set up a business
Give two functions of money. - - -
correct answer ✅Unit of account
Means of exchange
State two areas of guidance given by Citizens Advice - - -
correct answer ✅tax
debt
benefits
Outline two benefits of online banking. - - -
correct answer ✅24 hr access and monitor accounts in real time
Access account anywhere in the world , therefore conducting
business faster
, BTEC BUSINESS LEVEL 3 EXAM
QUESTIONS AND ANSWERS
Discuss the differences between direct debits and standing orders -
--
correct 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
Outline one benefit to Jenny of using a cash flow forecast. - - -
correct answer ✅Jenny can plan expenditure and ensure she does
not overspend
Identify two sources of advice and guidance about personal
finance. - - -
correct answer ✅citizens advice
IFA
Money advice service
Give two ways that customers can contact and interact with their
bank. - - -
correct answer ✅Face to face
QUESTIONS AND ANSWERS
Give two features of a premium current account. - - -
correct answer ✅travel insurance
cinema tickets
Monthly fee
Describe the role of the Financial Ombudsman Service. - - -
correct answer ✅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 - - -
correct 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
Identify two types of intangible non-current assets. - - -
correct answer ✅Goodwill
Patent
,BTEC BUSINESS LEVEL 3 EXAM
QUESTIONS AND ANSWERS
Trademarks
Outline what is meant by 'capital income' - - -
correct answer ✅Money invested by owners to set up a business
Give two functions of money. - - -
correct answer ✅Unit of account
Means of exchange
State two areas of guidance given by Citizens Advice - - -
correct answer ✅tax
debt
benefits
Outline two benefits of online banking. - - -
correct answer ✅24 hr access and monitor accounts in real time
Access account anywhere in the world , therefore conducting
business faster
, BTEC BUSINESS LEVEL 3 EXAM
QUESTIONS AND ANSWERS
Discuss the differences between direct debits and standing orders -
--
correct 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
Outline one benefit to Jenny of using a cash flow forecast. - - -
correct answer ✅Jenny can plan expenditure and ensure she does
not overspend
Identify two sources of advice and guidance about personal
finance. - - -
correct answer ✅citizens advice
IFA
Money advice service
Give two ways that customers can contact and interact with their
bank. - - -
correct answer ✅Face to face
