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BTEC Business Level 3 Exam Questions With 100% Correct And Verified Answers
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BTEC Business Level 3 Exam Questions With 100% Correct And Verified Answers
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BTEC Business Level 3 Exam QuestionsWith 100% Correct And Verified 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
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
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, 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
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
branch
telephone
Discuss how useful break-even analysis can be to a small business such
as Treasures. - Correct 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.
Outline what a 'semi-variable cost' is - Correct Answer-Part of the
cost stays the same and part varies in relation to the
degree of business activity
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