BTEC Business- Unit 3 Finance revision exam / Verified Questions with Correct Answers.Quiz____?Cash - Answer✓✓ Money in the form of bills or coins Quiz____?Debit card - Answer✓✓ A card used to withdraw money from a bank account Quiz____?Credit card - Answer✓✓ A card authorizing the holder to buy goods and services that can be paid for later.Quiz____?Cheque - Answer✓✓ A written instruction to your bank to pay a sum of money to another person from your current account Page 1 of 18 1 / 3
Quiz____?Electronic transfer - Answer✓✓ The transfer of funds from one account to another via the internet or telephone Quiz____?Direct debit - Answer✓✓ An electronic payment out of an account. The amount and frequency of a direct debit payment can vary Quiz____?Standing order - Answer✓✓
- an instruction to a bank to make regular payments
Quiz____?Contactless card - Answer✓✓ Cards containing antennae allow money to be transferred when the card touches a contactless terminal Quiz____?Page 2 of 18 2 / 3
Store card - Answer✓✓ a credit card which can only be used to buy goods in one particular shop or chain of shops Quiz____?Mobile banking - Answer✓✓ apps that allow online banking access from devices such as smart phones, tablets, etc.Quiz____?
BACS -
Answer✓✓ Bankers Automated Clearing Services Quiz____?
CHAPS -
Answer✓✓ Clearing House Automated Payments System Quiz____?Standard current account - Answer✓✓ Account with full banking facilities Page 3 of 18
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