BTEC Business learning aim A

Which of the following is a written order to a bank for a specific amount of money to be transferred from one account to another?

• CHAPS

• Cheque

• BACS

• Receipt

Which of the following represents a face to face way of communicating with customers?

• Telephone banking

• Branch banking

• Online banking

• Mobile banking

Which of the following is NOT a feature of a premium bond?

• Can be bought for as little as £100

• Prizes are tax free

• They are obtained through National Savings and Investments

• Draws are made every week

Which of the following would NOT be used by a lender when calculating repayments on a mortgage?

• The value of the property being bought

• The interest rate applicable to the loan

• The number of years the mortgage will be held for

• The level of crime in the postcode where the house is situated

Which of the following is an ADVANTAGE of branch banking?

• There may be long queues at busier times of the day

• It is available 24/7

• It requires you to have technology or devices

• Additional services such as advice can be offered

Which of the following is the correct DISADVANTAGE of using a pawnbroker?

• The amount given for the asset is often significantly lower than its actual worth

• The asset will be placed in a window and so may be damaged by direct sunlight

• Interest is not charged

• It is not open to members of the public, only businesses

Which of the following is NOT a type of mortgage?

• Fixed rate

• Variable rate

• Semi-variable rate

• Tracked rate

Which of the following is NOT a recognised method of payment?

• Credit card

• Store card

• Contactless card

• Loyalty card

Spending money on car insurance does NOT protect your vehicle against:

• Theft

• Damage caused by a 3rd party

• Breakdown

• Damage

Which of the following is NOT an example of a price comparison website?

• Comparethemarket.com

• Gocompare.com

• Confused.com

• Bestprice.com