Unit 3 Personal and Business Finance A

Give a feature of a premium account

• Withdraw more money than usual

• Free Holidays

• Exclusive rewards

• Exclusive Premium Branch

Describe the role of the Financial Ombudsman Service

• Help settle disputes between consumers

• Help guide your finance

• Help organise your money

Benefits of a pre-paid card

• Can't go into debt

• Pay before hand

• Buy now pay later available

• Requires no credit check

Which is not a function of money

• Legal Tender

• Means of exchange

• Unit of account

• Measure of a commodity

In which life stage may a student loan be most important?

• Childhood

• Adolescence

• Young Adult

• Middle Age

In which life stage will you most likely be making regular mortgage payments?

• Childhood

• Adolescence

• Young Adult

• Middle Age

In which life stage will you need encouragement to start saving money?

• Childhood

• Adolescence

• Young Adult

• Middle Age

Which of these is not a common principle of planning personal finance?

• Generate income and savings

• Counter the effects of inflation

• Maintain a good credit rating

• Avoid solvency

'Payment is transferred directly from one bank account to another' describes which method of payment

• Electronic Transfer

• Credit Card

• Direct Debit

• Standing Order

'Issued by financial institutions allowing customers to delay payments for goods and services' describes which method of payment

• Electronic Transfer

• Credit Card

• Direct Debit

• Standing Order