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BTEC level 3 Unit 3 Finance 1 Flashcards | StudBud

Explore/BTEC level 3 Unit 3 Finance 1

BTEC level 3 Unit 3 Finance 1

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Practice on key terms from Finance section (Personal and Business) BTEC Level 3, Unit3

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Questions 5

Answers

1
Which one of the following is NOT a function of money?
Type of culture
Unit of account
Store of Value
Means of exchange
2
Which of the following features apply to a debit card?
an easy way to make regular payments.
limit set on amount of credit allowed.
No need to carry cash.
suitable for online transactions.
3
Define "interest rate"
the number of people who want to buy your car.
the cost of borrowing money or the reward for saving.
a measure of the growth of the economy.
a measure of how popular you are.
4
What is a credit rating?
a form of bankruptcy
score given to person on how likely they are to repay debts
money owed
score given to a film
5
Name 2 different life stage where monetary needs change?
getting a job
old age
young adult
being a student