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BTEC Business- Unit 3 Finance revision exam Questions and Answers (Latest Update 2025)
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BTEC Business- Unit 3 Finance revision exam Questions and Answers (Latest Update 2025)
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BTEC Business- Unit 3 Finance revisionexam Questions and Answers (Latest
Update 2025)
Money in the form of bills or coins - Correct Answer ✅Cash
A card used to withdraw money from a bank account -
Correct Answer ✅Debit card
A card authorizing the holder to buy goods and services that
can be paid for later. - Correct Answer ✅Credit card
A written instruction to your bank to pay a sum of money to
another person from your current account - Correct Answer
✅Cheque
The transfer of funds from one account to another via the
internet or telephone - Correct Answer ✅Electronic transfer
An electronic payment out of an account. The amount and
frequency of a direct debit payment can vary - Correct
Answer ✅Direct debit
n. an instruction to a bank to make regular payments -
Correct Answer ✅Standing order
Cards containing antennae allow money to be transferred
when the card touches a contactless terminal - Correct
Answer ✅Contactless card
, BTEC Business- Unit 3 Finance revision
exam Questions and Answers (Latest
Update 2025)
a credit card which can only be used to buy goods in one
particular shop or chain of shops - Correct Answer ✅Store
card
apps that allow online banking access from devices such as
smart phones, tablets, etc. - Correct Answer ✅Mobile
banking
Bankers Automated Clearing Services - Correct Answer
✅BACS
Clearing House Automated Payments System - Correct
Answer ✅CHAPS
Account with full banking facilities - Correct Answer
✅Standard current account
An account with a fee entitling the user to extra services -
Correct Answer ✅Premium current account
Account with limited facilities usually used by someone with a
poor credit rating - Correct Answer ✅Basic current account
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