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BTEC BUSINESS LEVEL 3 EXAM QUESTIONS & ANSWERS 2024/2025 $8.99   Add to cart

Exam (elaborations)

BTEC BUSINESS LEVEL 3 EXAM QUESTIONS & ANSWERS 2024/2025

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  • BTEC BUSINESS LEVEL 3

BTEC BUSINESS LEVEL 3 EXAM QUESTIONS & ANSWERS 2024/2025 Give two features of a premium current account. - ANSWERStravel insurance cinema tickets Monthly fee Describe the role of the Financial Ombudsman Service. - ANSWERSacts as an independent assessor when dealing with complaints between...

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  • August 23, 2024
  • 13
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • BTEC BUSINESS LEVEL 3
  • BTEC BUSINESS LEVEL 3
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BTEC BUSINESS LEVEL 3 EXAM
QUESTIONS & ANSWERS 2024/2025

Give two features of a premium current account. - ANSWERStravel insurance

cinema tickets

Monthly fee



Describe the role of the Financial Ombudsman Service. - ANSWERSacts 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 - ANSWERSit 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. - ANSWERSGoodwill

Patent

Trademarks



Outline what is meant by 'capital income' - ANSWERSMoney invested by owners to set up a business



Give two functions of money. - ANSWERSUnit of account

Means of exchange



State two areas of guidance given by Citizens Advice - ANSWERStax

debt

benefits

, Outline two benefits of online banking. - ANSWERS24 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 - ANSWERSDirect 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. - ANSWERSJenny can plan expenditure and
ensure she does not overspend



Identify two sources of advice and guidance about personal finance. - ANSWERScitizens advice

IFA

Money advice service



Give two ways that customers can contact and interact with their bank. - ANSWERSFace to face

branch

telephone



Discuss how useful break-even analysis can be to a small business such as Treasures. - ANSWERSit 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 - ANSWERSPart of the cost stays the same and part varies in
relation to the

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