BTEC BUSINESS LEVEL 3 EXAM QUESTIONS & ANSWERS 2024/2025
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Course
BTEC BUSINESS LEVEL 3
Institution
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...
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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