Unit 3 Student Book Outcome A

Name: George Kearton
1|Page Teacher: Teresa George(TMG)

Exam Date: Thursday 16th May
2024
Learning Outcome A – Personal Finance
Unit Specification: Unit 3 – Personal and Business Finance
Method of assessment
Externally marked exam (80 marks – 2 hours)
Unit in brief
Learners study the purpose and importance of personal and business finance. They
will develop the skills and knowledge needed to understand, analyse and prepare
financial information.
Unit introduction
This unit includes aspects of both personal and business finance. Personal finance
involves the understanding of why money is important and how managing your
money can help prevent future financial difficulties. It is vital you understand the
financial decisions you will need to take throughout your life and how risk can affect
you and your choices. This unit will also give you an insight into where you can get
financial advice and support.
The business finance aspects of the unit introduce you to accounting terminology,
the purpose and importance of business accounts and the different sources of
finance available to businesses. Planning tools, such as cash flow forecasts and
break-even, will be prepared and analysed. Measuring the financial performance of a
business will require you to prepare and analyse statements of comprehensive
income and statements of financial position.
This unit will provide a foundation for a number of other finance and business units
and will help you to analyse profitability, liquidity and business efficiency. It will give
you the knowledge and understanding to manage your personal finances and will
give you a background to business finance and accounting as you progress to
employment or further training.
Summary of assessment
This unit is assessed by a written examination set by Pearson. The examination will
be two hours in length. The number of marks for the examination is 80. (Section A
contains questions on the personal finance unit content and approximately one-third
of the marks, and Section B contains questions on the business finance unit content
and approximately two-thirds of the marks).

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Assessment outcomes
AO1 Demonstrate knowledge and understanding of business and personal finance

principles, concepts, key terms, functions and theories. Command words: describe,
explain, give, identify, outline Marks: ranges from 1 to 4 marks.
AO2 Apply knowledge and understanding of financial issues and accounting

processes to real-life business and personal scenarios Command words: analyse,
assess, calculate, describe, discuss, evaluate, explain Marks: ranges from 2 to 12
marks.
AO3 Analyse business and personal financial information and data, demonstrating
the ability to interpret the potential impact and outcome in context Command words:
analyse, assess, discuss, evaluate Marks: ranges from 6 to 12 marks.
AO4 Evaluate how financial information and data can be used, and interrelate, in
order to justify conclusions related to business and personal finance Command
words: analyse, assess, discuss, evaluate Marks: ranges from 6 to 12 marks.
Learning Outcome A1 – Function & Role of Money
Activity 1 - What would the world be like without money?
What would the world be like without money?
Trading would take place for goods with another form of currency.
How would you pay for things?
Trading would be a way people could pay for things, such as trading cooking
lessons for driving lessons as people want to learn things that others can do.
Could you save anything of value?
Knowledge would have value and can be increased and expanded.
How would you know the value of assets you had?
This would be known by seeing what the demand

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is for what you have or can do.
Teacher: Teresa George(TMG)
2024
Activity 2 - What are the Functions of Money?
Whilst watching the video describe the 4 functions of money. Video: Functions of
Money Link
Unit of account
Look at the value of something
Expressed in an understandable way
Allows the value of items to be compared
Means of exchange
Use something of value to trade, money can exchange for everything
Legal tender
Is legally recognised by the government as a form of currency
Store of value
Keeping money for a later date (savings, investments)
Justify which function of money is most important.

I think that means of exchange is the most Important, this is because exchange is used for
everything you want. If you need to get some new clothes you will exchange money for them, this
form of exchange is trading something that has value for something that you desire. If people have
more money, then they can either get more of what they desire or they can produce more goods
that others may desire.

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Activity 3 - The Role of Money
Explain where your personal attitude to money has come from
My personal attitude to money has come from seeing how it works, when people invest in something
and think it a good idea to do so makes me see money to make more of it.
If parents & guardians are the ones where financial education comes from, assess
the limitations this has and what can be done to improve financial education.
I believe that I would have a large amount of money saved as my parents always have a savings
account that money goes into every month.
Activity 4 - Life Stages

Discussion. What are the wants of people at each stage of their life? & What are the
implications from that?
From different stages people want different things, as a child, children want toys and
games this means that they are not in need of a lot of money and parents will
probably pay for what they need and want.
When moving up ages to around being an adolescence people at this are most
likely to want clothes and phones this implies that they are either still dependent on
their parents or have a source of income from a job or other forms of income.
As an adolescence becomes a young adult, they begin to want more practical things
such as a means of travel such as a car or motorbike, this means they will no longer
rely on their parents. This therefore implies that they will not be dependent on
anyone apart from their selves and will most likely have a job.
When someone is middle aged, they may want to buy their own home. This means
that they will most probably have a career or profession and have a potential to be
dependent on a spouse.
As a person becomes elderly, they will want to retire. This implies that they will want
to claim their pension and relax without doing anything and will be dependent on the
pension that they have saved..
Life Stage Financial needs Implications

Childhood 3. Limited needs 2. Money from parents in
Reliant on parents the form of pocket money.

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Purchases sweets & toys Spent on non-essentials
May be encouraged to save
Adolescence 4. Want independence 4. Still reliant mainly on
Less reliant on family money from parents
Start socialising away from May look for a job
home Get cash as gifts & save for
larger purchases
Young adult 5. University / Early career 5. Student loan
More independent Car finance and borrowing
Buying cars, renting, buying Job & mortgage
homes Eligible for credit cards
Starting a family / getting
married
Middle age 2. Support family 1. Paying a mortgage
Improve lifestyle Paying into a pension
Save for future High income & high
expenses
Old age 1. Fewer dependants 3. No mortgage payments
Fewer financial needs Income from pension not a
May downsize salary
Explain the financial needs of someone in the young adult life stage.
Someone at the young adult stage will need a source of income, this is because they may need to
pay for something such as a car or motorbike. Another reason why they may need a source of
income is for university fees is they are starting at university.
Explain the financial needs of someone in the Childhood life stage
At an old age their finances would mainly come from their pension and would not be working as
they will be living from a pension, they downsize house to something like a bungalow to keep a
higher amount of money in their pension. As their money is limited, they would not spend a lot of
money on non-essentials.
What are the implications of some at the old age stage of their life when it comes to
finances?
Someone in the childhood stage would only be dependent on parents as they would not be old
enough to get a job. They would have a source of income such as pocket money that they would use
to buy products they want rather than need.
Compare the needs of someone in the childhood stage of their life compared with
the middle age stage.
Someone who is young needs money from their parents whereas someone who is middle aged
would want a new home. A child will need to have new toys and sweets whereas someone middle
aged would want a new car or motorbike.
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Assess the needs and implications of someone in the childhood life stage.
Someone who is in the childhood life stage they would need everything paying for by a parent like
the clothes on their back. Children may get a form of income such as pocket money and this is most
probably their only source of income. Children would not need to worry about paying for anything
like bills as they are not old enough to be charged for it. Children when getting older may be told to
start saving like putting money away and creating a larger sum. Children will spend their money
often on none essentials such as sweets and toys whereas if they were older, they would spend it on
shopping.
Activity 5 - Planning Expenditure and Personal Finances

In the table create a basic personal budget for a month and then answer the
questions below regarding your personal finances.
In (£) Out (£)

Wages £2000 £0
Travel £0 £50
Eating out £0 £250
Utility bills £0 £600
Road tax, Car insurance £0 £400
Subscriptions £0 £100
Food shopping £0 £200
Pension £0 £400
Total £2000 £2000
Explain whether your finances are healthy or not
This is not healthy as I have no money left over. A reason this is not healthy is because I may have
an emergency like my car breaking down, this means I would be without a car until the next month.
Explain the importance of having healthy finances

One importance of having healthy finances is so that if there are any things that you may need to
pay for you have the money there so that you can pay. This is important because if you take longer
than what you should to pay then you may owe more money, or an opportunity may have been
lost.
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What are the consequences of not planning expenditure and personal finance?
The consequences are that you can get into debt. Without having your won guidelines, it can be
easy to let debts increase. Without having a budget you will not have an easy time finding extra
money to pay down debts.
Assess what would happen to you if any income you have stopped
If any of your income was to stop you would have to rethink everything that you are currently
paying for. You would have to stop paying for non-essentials and focus on the bills that you need.
Also you may get put into debt if it was a large source of income, this is because you wouldn’t be
able to pay for things such as home bills or car bills.
Suggest how your expenses and income will change as you progress through your
life.
As you progress through life you will see different amounts of income if you get a promotion your
wage from your job may increase. This could therefore make you increase your expenses, and you
can do this more comfortably. There for the overall amount of expenses and income will have
increased.
Activity 6 – Why Plan Expenditure?

While we cover why planning expenditure is important take notes on key points.
- To avoid getting into debt
- To control costs
- Avoid legal action and/or repossession
- Remain solvent
- Maintain a good credit rating
- Avoid bankruptcy
- To manage money to fund purchases
8- | P a gGenerate
e income and savings Teacher: Teresa George(TMG)
- Ser financial targets and goals
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- Provide insurance against loss or illness
- Counter the effects of inflation

Activity 7 – Benefits and risks of not managing money
One benefit of managing money is you will have surplus money to save this means that you will have plenty of
money in case of an emergency. A risk of not managing money is that you would be unable to pay bills; if you
cannot pay your bills then you won’t be able to live in your home due to the reason that you don’t have
enough money to pay for it. This is negative because you could end up homeless.
Another benefit is that savings can provide security, having security with your money is good because you can
buy something without having to worry about if you will have enough for other things. A risk could be that
you may have a poor credit rating so that you cannot borrow; you may need to borrow money at one point in
your life, you may want to borrow money for a mortgage, and you wouldn’t be able to due to your poor credit
and this could leave you never being able to buy a home.
A third reason managing money is a benefit is you will have a good credit rating. This is a benefit because you
will be able to get loans for different things such as a car, you may need to borrow some money to be able to
buy a car. If you have a good credit rating the banks can trust you to borrow money and pay them back. A risk
Using the benefits and risks evaluate the importance of managing personal finances.
of not managing money is you will not have any savings or security, this is a negative because if you have no
savings then you may not be able to pay for things in an emergency like if your car breaks down and you need
a certain amount of money to get it repaired without savings you would not be able to pay for your car to be
repaired. This would result in you not being able to get around.
A final reason that managing money is a benefit is that you will avoid debt. This a benefit because you will not
have to worry about things that may affect your life badly. Being debt free means that you can live
comfortably and worry free. A final risk of not managing your money is that you could get in debt, this is a
problem because you may not be able to get out of debt and will overall affect your entire finances.
Therefore, managing money can either put you in a good place financially or a bad place.

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Activity 8 – Knowledge Check A1
List the four functions of money
Store of value, Legal tender, Means of exchange, Unit of account
Describe unit of account

Look at the value of something and can be Expressed in an understandable way and Allows the value
of items to be compared
Describe 3 roles of money

Money isthe
Explain used as legal tender
financial needsthis means that is recognised
& implications of someoneby people
at theasmiddle
a way to exchange
age stage goods
and services. Another role of money is means of exchange this means money can be used to trade for
The financial
something need
you andAimplications
want. of someone
final role of money who
is store of isvalue
in the middle
this age
means category
your moneywould
can bebekept
a home.
for a
Someone who is at this age would want to pay for a home, this is because they will want to settle
later date and will be worth the same or more.
down and will most probably have a good source of income and will be able to pay for their home.
They may keep their home until old age where they are older.
Outline 2 common principals when planning personal finance.
One common principle when planning personal finance is making sure you have money left over at
the end of the month to pay for things that may come unexpectedly. Another common principle is to
save money, this is so that you can have an emergency fund in case of something that can be
expensive.
Learning Outcome A2 – Different ways to Pay
Activity 9 - How do you pay for Goods and Services?

List as many methods of payment as you can
Cash, card, apple pay, google pay, PayPal, Cash App, Bank transfer, contactless(credit or debit),
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Which one do you use the most and why?
I use card payments the most, this is because I can see how much money I
have left without having to count how much change I have. Another reason I
use card payments is because I can see where and when I have paid for
whatever I paid for. This is good because if I need to check where or when I
bought something I ca just go into my mobile banking app and check and this
makes managing my own personal finance a lot easier.
Explain what makes something an effective payment method.

For something to be classed as an effective payment method it has to be recognised by a wide
selection of people that will accept it. This is so that if someone wants to pay then it can be
understood by anyone who is providing either a product or service. This means that everyone
understands how much is being spent and what it is being spent on.
Activity 10 - Word Search Different Ways to Pay
O N Y S C S P I Y P H K U C B J B F R H R L C S
U L H S J Z W W D R G T G Z K O G R E P D L A C
T M S T B B X D A E P O B G L U G C F M C L U P
O K A O H C S T H P K V P J X K G O S R O J Y V
N Q C R M G E N W A I R W W W W Q N N D W Q V M
S Q F E N I G G B I M R S H O K C T A O S X D F
D P M C I J R M Y D S O W E G R A A R U K H J B
I M F A W I A U C C O F B W E D Q C T A I O Q G
R L U R D A A Q H A X U H D R C K T C L F W N F
E P H D C T Y N F R H F R A H B J L I Y D K Q X
C C F S I V Q S Z D E O C A P A V E N I W I E Y
T U N V V G I P W S G T R I M U Q S O A B I E F
D A A H Y U U H C N I G E X A N U S R Q X A A K
E R L S L L S F I B E B I N W P B C T T G L C A
B S S L D M Q D E C E X S V H X Y A C P O Y A S
I Z W E K Y N D A H C P M U U H Z R E K T O V H
T T D N Q A U R L F S L G U J N E D L U U P D L
U G R Y T U D F C E G O Q T Q T D S E X K F X O
J Q N S H S R W P F D X C N G E T I Y R D T C H

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H G N I K N A B E L I B O M T S S R S F S W G V
W C J K P L O Z H C Q G K L I P E I Y P I U S B
K T C H E Q U E C R E D I T C A R D A N F R E C
P C X R I Z F Z P A Q B H U T O N H P V W N A R
Y P V B P Q T U H Y K F T V S E C H T W C J B Y
CHAPS FPS BACS mobile banking store cards charge cards

contactless cards prepaid cards standing order direct debit
electronic transfer cheque credit card debit card cash
Activity 11 – Methods of Payment

If you have finished the word search for the methods of payment, then start filling in
the explanations of each payment method in the table.
Payment Method Explanation Advantages Disadvantages

Cash Money in the form of Easy to budget Easily lost
coins and notes Physical not digital Easy to steal
available in a variety Widely accepted Cannot be used online
of amounts Confidence No good with large
amounts
Debit Your own money that If secure May have minimum
sits in your bank Low risk of theft spend limits
account. Widely accepted May overspend on
Can be used online card
Potential to go into
overdraft
credit Credit is money that Period of interest free Interest charged if not
you don’t have that credit paid in full. Encourage
the banks loans you Widely accepted overspending and
that you then pay Protection online debt. Charges on cash
interest on when you Used online withdrawals. Set
pay back. amount of credit
Cheque A cheque is a Safe They may bounce
document you can Good for large
issue to your bank, transactions Time delay between
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directing it to pay the Good for postal writing it and it being
specified sum transactions cleared
mentioned in digits as No need to carry large
well as words to the amounts of cash
person whose name is
borne on the cheque.
Contactless This is when payment It can be fast if you’re If you lose your card
is made without in a rush. then someone can just
having to touch spend it without
anything apart from having to put a code in.
your card.
Mobile banking You’re banking on time efficiency, the You may need to
your phone where possibility to manage access it and your
you can see exactly funds, transfer money, phone may be dead.
how much money you and detect frauds
have. quickly.
Direct debit Direct Debit is an You will not have to You may forget about
instruction from you worry about paying a direct debit and may
to your bank or because it will be done not want to pay for it
building society. It automatically. anymore and it may
authorises the put you in debt.
organisation you want
to pay to collect
varying amounts from
your account
Standing order regular payment of Payment is done You may forget about
the same amount automatically and you a standing order and
that’s paid on a don’t need to worry may not want to pay
specified date. It about it. for it anymore and it
allows the bank to may put you in debt.
take money regularly
from your account to
pay another account.
Electronic transfer from one bank Easy to do and can be Risk of account take
account to another, done from anywhere over
either within a single at any time. Can take multiple days
financial institution or to process
across multiple
institutions, via
computer-based
systems,
Pre-paid card A prepaid card is a Avoids overspending May cost money to set
card you can use to If lost cannot be up
pay for things. You overdrawn No protection if lost
buy a card with Good way to control
money loaded on it. spending
Then you can use the
card to spend up to
that amount.
Charge card charge cards are much Get a short period of Full payment required
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like credit cards – they credit Annual fixed fee
allow you to pay for No need to carry cash
goods and services on Additional perks
credit. The key
difference is that with
a charge card you
must pay off your
balance in full at the
end of the month.
Store card A store card is a credit Short period of interest Can only be used in
card you can only use free credit specified stores/places
with one high street Special offers and Interest is charged on
chain or group promotions for that balances
store Can encourage debt on
consumer goods
BACS you can make Guarantees instant Limited amount in a
recurring payments payment within 2 single transaction
via BACS without hours Service not offered by
entering the payee's No additional costs all banks
information each time Used in branch, phone
– so it's quicker and or online
easier for those
regular expenses.
CHAPS a sterling same-day No limit on the amount Fixed charge for the
system that is used to of a single transaction transaction
settle high-value Same day transfer
wholesale payments
as well as time-critical,
lower-value payments
like buying or paying a
deposit on a property.
Activity 12 – Payment Advantages & Disadvantages

Go back to the table and write down the advantages and disadvantages of as many
of the payment methods as possible.

Using the explanation, advantages & disadvantages answer the following example
exams questions.
Explain the difference between a debit card and a credit card
A debit card is linked to your bank account. It is usually your money that you are using or
withdrawing, unless you have an overdraft, which is a type of credit linked to your account. A credit
card is a standalone account giving you access to a pre-agreed credit limit.
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Explain the benefits of using BACS as a method of payment
A benefit of using BACS is that there is a guaranteed instant payment within 2 hours, this is a benefit
because you may need the money quickly, without the fast payment time you may lose out on
opportunities therefore it is good to have such a fast payment time.
Assess the benefits & drawbacks of using cash to pay for goods and services
A benefit of using cash to pay for goods and services is that you can spend money more wisely. This is
because you can see how much cash you have left this means you can manage your money better and not
overspend. Another benefit is that you cannot be affected by a minimum spend, when there is a minimum
spend you often just spend that little bit extra to get what you want, but with cash you do not have this
problem as there is not a minimum spend with cash. A drawback of using cash is that you could lose your
money, this is a drawback because unlike using a bank account or other source of online currency your
money cannot be lost. If you lose your money then there is nothing that you can do. Another drawback is
that you may lose money, this is as cash doesn’t get an interest rate whereas when money is in a bank
account you may have an interest rate that can increase the amount you have, cash can not do this.
Evaluate store cards as a method of payment

Store cards are a strong method of payment, this is because they can give you access to special offers
and promotions for a store. These special offers could save you a large sum of money if it is an
expensive product or service. A store card can give you access to things like being able to return items
without a receipt or take advantage of extended returns, attend members-only events, enjoy free
shipping, or access financing and instalment plan options. This as a method payment is overall a
benefit this is because it can increase your moneys value because a store card can make items
cheaper.
Scenario
Jason’s goes on holiday next week and cannot decide what payment method to use
whilst on holiday. He has £1000 in spending money.
Argue whether he should use cash, debit card or credit card to pay for goods and
services whilst on holiday.
Jason should use a debit card as his method of payment over cash or credit card, I think this for
different reasons. One reason why debit card is better than cash is that it you wont have to convert
your money into the currency used wherever Jason is going, if Jason was to use cash then he would
have to spend extra time exchanging money when he could be doing something better with his time.
Another reason that debit card is better than cash is that his money could not be lost, cash can be
15 | Plost
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Debit card does not have this issue because all your money is kept inside an account online and have
zero chance of getting lost.
A reason why Jason should use debit card over credit card is that he could overspend, and the Interest
Could you answer these questions if different methods of payment came up?
Learning Outcome A3 – Current Accounts
Activity 14 - What are Current Accounts?

Research and explain what a current account is and the common features that are
part of a current account.
A current account is…
A current account is a type of bank account that keeps your money secure and helps you manage your
finances. Most banks offer a range of different current accounts as they all have different features
therefore customer can find an account that suits them.
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Common features of a current account are…
Paying money in (wages), paying money out (bills, direct debit), overdraft, Interest paid on positive
balances, interest charged on negative balances, additional extras
Activity 15 - Video Activity on Current Accounts

Along with an explanation of the accounts provide pros and cons of those accounts.
Current Accounts Video Link
Standard - A current account is a bank Premium/Packaged - come with a

account designed to manage your monthly fee and in return, offer various
income and day-to-day spending. different perks and benefits to the
Pros – account holders.
No charges on credit balances Pros –
Range of facilities No charges on credit balances
Convenient for receiving wages and Range of facilities (debit card, overdraft)
withdrawing money Convenient for receiving wages and
Cons - withdraw money
Potentially high charges on overdraft Additional perks
Standard features, no additional perks Cons –
Additionally monthly charge
May not provide value for money for
certain individuals
Basic - a banking option for those who Student - a current account designed to
are facing financial difficulty or have a be used by people enrolled in higher
poor credit history education.
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Pros – Pros –
Available to customers with low credit Course fees and loans can be easily
rating handled
Easy first step for banking Added extras are designed to meet the
Ability to pay and withdraw cash needs of students (rail and food card)
Cons – Cons –
Limited facilities Overdraft facilities are high
No debit card Charges for over spending are high
Overdraft facility Limited facilities
Activity 16 - Current Accounts and Scenarios

Read the information provided regarding a variety of accounts. Then for each
scenario provide a justified recommendation of which account would be most
appropriate for each scenario.
Account 1:

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Account 2:
Account 3:

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Scenario 1
Misha has a well-paying career, husband and 2 teenage children. They enjoy going
on holiday abroad twice a year, have two cars and eat out often.
Assess the three account and justify which one would be suitable for Misha.
I think that the platinum account would be the best for Misha as she has two cars, as a platinum
account offers breakdown cover. This is suitable for Misha because if either of their cars were to
breakdown, they have coverage as a part of the platinum account. Another reason why it is suitable is
because they also offer worldwide travel insurance and it is stated that she goes on holiday abroad
twice a year, this means if there was something to happen to her on holiday then she would be fully
covered by the platinum account. Also, as she eats out often there is an offer apart of the platinum
account that gives you up to 15% cashback when paying on debit or credit card at a range of high
street shops and restaurants, and as she often eats out then this will benefit her. Therefore, the
platinum account would be best suited to Misha.
Scenario 2
Murray has a full-time job and lives alone. He is a part time studying a university
degree. He travels to university once a week by train and very rarely eats out. His
finances are good and has paid for his university fees with a student loan.
Assess the three accounts and justify which one would be most appropriate for
Murray.
Murray would be best suited with a student account because as he is a student the account is
designed to be in his best interest. As Murray is a student he may not have a suitable income for
himself, with the student account you can get an overdraft of up to £2000 which is ideal for a student
as they may not be able to keep his full-time job as he may need to study more than he had
previously, this would leave him needing money that could be received in an overdraft. Another
benefit of the overdraft is that there is no interest needed to be paid on them, this would mean that
Murray would only be paying back however much he originally had.

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Scenario 3
Kara is a full-time student and lives in student halls. She has no income except
for £200 a month from parents. She enjoys socialising and has a lot of friends
at university.
Assess the three accounts and justify which one would be most appropriate for Kara.
Kara like Murray would also be best suited with a student account as she has very little income, getting
only £200 a month from her parents. With a student account she wouldn’t have to worry about paying
interest back on an overdraft and this would be an ideal for her. As she doesn’t have a sustainable
source of income this student account would be ideal as there are no annual costs meaning she can use
her account free everyday. Therefore, a student account would be the best for Kara.
Activity 17 - Exam question

Yasmin has just started university and is living away from home. She needs to open
a current account so she can pay in her student loan. She is also looking for a part-
time job and will need to have her wages paid into the current account each month.
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Her parents are worried that she might get herself into debt if she has a large
overdraft. However, Yasmin will need books for her course and wants to make new
friends through socialising and eating out.
Accounts available:
Account Interest paid Overdraft Conditions Perks

on credit
123 Student None £1000 year 1 Must pay in £50 a Bose headphones
£3000 year 2 month Laptop
£4000 year 3 Rail card
Student 1% Up to £2000 a Online only Food card
Smart year Breakdown cover
Student 1% up to £500 £1500 Must pay in £250 Food card
Wise 2% up to £1500 maximum Book club discount
3% £1500+ Rail card
Unwise None £4000 None Laptop when
maximum signing up
Rail card
Evaluate the different current accounts available to Yasmin and recommend which
type of current account would be best for her to open.
The ‘123 Student’ account may not be ideal as you must pay £50 into the account every
month, Yasmin may not have this amount every month as she doesn’t work at the
moment but this account could be a possibility in the future as it has perks such as Bose
headphones which she could use to listen to music while working to help her concentrate
and the rail card that would help her get to places a lot easier assuming she doesn’t drive
or get a lift.
The ‘Unwise’ account would be a terrible choice as Yasmin could have up to £4000 in
an overdraft and could very easily get her into debt and this is a concern of her parents.
Although with this account she gets a laptop when signing up for the account that she
could do her work on could be useful, also similarly to the ‘123 Student’ account they
offer a rail card that can be used to travel for free so this could benefit Yasmin. This
account could be ideal if Yasmin got a part time job because she would not have to
completely rely on her overdraft.
The next account is the ‘Student Smart’ account, this account has a low interest on credit
being only 1% this could be good for Yasmin as she wouldn’t have to pay much back on
credit. Also with this account there are two perks, they are a Food Card and breakdown
cover, with the food card Yasmin could manage her finances better as she can decide
how much to put on per day or week so she isn’t overspending.

List the 4 types of current account
Standard
Packaged Exam Date: Thursday 16th May
2024
Basic
Describe who a basic current account would be suitable for
People who are eligible for a standard account, like people who have poor credit history.
Outline 2 features of a premium/package current account

Two features of a premium current account would be, travel insurance and breakdown cover.
Explain the key features of a student current account stating why these are useful for
students
One feature is online banking, this is useful for student as they have many lessons and may not be able
to go visit a bank machine. This is useful because they don’t have to waste time going to bank machines
and can study more.
A second feature is overdraft facilities is useful as they may need some extra cash one month. Having
an overdraft can give a student more freedom to do things that they need to do.
Learning Outcome A4 – Managing Personal Finances
Activity 19 – Borrowing
Before we discuss the types of borrowing available. We need to see how you feel
about borrowing money.

2024
Assess how much you agree with this attitude to money expressed in the quote
above (think about good and bad things that borrowing money may bring).
There are negatives of spending money before you have it, like being in an overdraft if you are in an
overdraft then you may spend more than what you can afford this can lead to you being in debt.
Another negative is you may get a bad credit score if you spend money that you don’t have and you
end up paying late this can also effect you negatively. Although a positive of spending money before
you have it is that you will not miss out on opportunities that you may miss if waiting until you have
the money. Therefore, I agree that you shouldn’t spend money that you do not have as there can be
many negative effects because of it.
List the types of borrowing available
1. Personal loan
2. Business loan
3. Credit card
4. Overdraft
5. Mortgage
6. Payday loans
Activity 20 - Different Types of Borrowing Crossword
1 2

2024
4
Across Down
4. Withdraw money that you don't have from a 1. Purchase an item in regular instalments. Item
current account & is suitable to meet short term remains property of the seller until all payment are
needs made.
5. Long term loan to fund the purchase of assets. 2. Borrow a set amount of money for a specific
Paid back over a long period of time (25 years). purpose. Purchase items of higher value with
6. Short term source of finance to bridge the gap regular payments
between wages. Suitable in emergencies at very 3. Goods are paid for by card. Paid at the end of a
high interest rates. set period when a statement is issued. A minimum
payment can be paid or the full amount.
Activity 21 - Provide Pros and Cons of Borrowing Options.

Imagine you are working for a bank and you have been asked by your manager to
create a guide to different types of borrowing available at the bank.
This can be in any format you wish but should include at least the following:
• An explanation of the type of borrowing
• The positives of that type of borrowing
• The drawbacks of that type

2024
• Examples of when it would be appropriate to use this form of borrowing.
Personal loan - an unsecured credit provided by financial institutions based on criteria like employment
history, repayment capacity, income level, profession and credit history.
Positives - Flexible Use, One Lump Sum, Fast Funding
Drawbacks - Interest rates can be higher than alternatives, more eligibility requirements, Fees and penalties
can be high
When it can be used - You want to pay off high-interest debt.
Business loan - a loan product offered to business owners who have a running company but require external
funds for operations.
Positives - Allow you to grow your business, you keep full control of your company, No interference from the
bank
Drawbacks - Interest rates, you can be refused, pay back with interest
When it can be used – if your business needs to start, continue or grow.
Credit card - Credit cards offer you a line of credit that can be used to make purchases, balance transfers
and/or cash advances and requiring that you pay back the loan amount in the future.
Positives - Build a credit history, Rewards and cash back, Emergency funding
Drawbacks – Interest charges, Temptation to overspend, Late fees
When it can be used - when an unexpected expense comes up and you need some time before you can pay it
off
Overdraft - allows you to borrow money using your current account, so you can spend more money than is in
Positives - An overdraft is flexible, it’s quick to arrange, there is not normally a charge for paying off the
overdraft earlier than expected
Drawbacks - Expensive way to borrow, Difficult to get out of debt, your bank can reduce or cancel your
overdraft
When can you use it - overdrafts should only be used for emergencies or as a short-term option.
Mortgage - an agreement between you and a lender that gives the lender the right to take your property if you
fail to repay the money you've borrowed plus interest.
Positives - Makes owning a home possible, Flexibility and choice, long term stability
Drawbacks – Higher interest rate, Loan balance remains higher for longer, Spend more in interest over the life
of the loan
When can you use it – When buying a house.
Payday loans – a relatively small amount lent at a high rate of interest on the agreement that it will be repaid
when the borrower receives their next wages.

2024
Positives – Quick, convenient, can apply online
Drawbacks – Can be expensive, not a solution for large financial issues, They create a cycle of debt
Activity 22 - Case Study on Payday Loans and Questions

Link - https://www.thisismoney.co.uk/money/cardsloans/article-6232745/I-borrowed-100-night-
payday-loan-sharks-ended-owing-19-000.html
Just when you thought you had read it all about payday loan sharks... 'I
borrowed £100 for a night out and ended up owing £19,000'

2024
Danny Cheetham got into debt after taking out a number of payday loans
Even though he was in financial difficult, firms kept loaning him money
Many payday loan companies use tactics to encourage you to borrow from
them.
He was a 19-year-old student at Salford University at

the time and paying back £128 after 22 days didn’t
sound like a bad deal.
But as soon as he cleared the first loan, the now-

defunct Wonga offered him another. This time, he
could have £420 for 38 days.
But when the time came to repay £585, an

unexpected bill meant he didn’t have the money.
So, he went to another high-cost short-term lender to

borrow £275. This grew into £538 with interest.
Over a decade, things began to spiral, with Danny

bouncing between payday lenders, borrowing hundreds at a time to pay off the firms
chasing him.
High-cost loans were transferred to his bank accounts within minutes following a
text. Loans were approved despite Danny’s overwhelming debts.
Towards the end of last year, he was offered three separate loans totalling £1,240
before he had paid off the first.
In total, he thinks he has paid almost £19,000 in interest to payday lenders.
Danny, who had kept the mounting debts a secret from his family and friends, says:
‘It’s shocking how easy companies made it for me to borrow more. I was in trouble
and thought these loans would ease the stress. But it never went to plan.’
Danny, now 29, has his debts under control and is set to be clear of them by the time
he is 30.
But experts say his story highlights just how easy payday loan firms make it for
people to rack up expensive debt.
And while Wonga is no more, there are dozens of other firms popping up in its place
with even more ruthless tactics.
Some promise to put money in your account in as little as 90 seconds. Others allow
borrowers to extend their loan just by sending a text message.

2024
Some offer bonuses if you refer a friend and pay cashback if you borrow more.
Another says it monitors customers bank balances and automatically tops up their
account if it falls below a certain amount.
Experts say that adverts

targeting families and young
people are normalising what is
a very costly way to borrow
money.
Some firms claim to be an

‘alternative’ to payday loans
when, in fact, they work in
much the same way.
Stella Creasy, Labour MP for

Walthamstow, said: ‘High-cost
credit companies hook people into a spiral of debt. Rather than treat people fairly and
mend their ways, those same companies which offered eye-watering rates of interest
are now simply changing the label on their loans.’
Lending Stream, which was set up in 2008, claims to be a responsible provider of

alternatives to payday loans.
The firm, based in north London, says it can send money to your account in 90
seconds and will allow customers to take out multiple loans at a time.
New customers can borrow up to £800, while those returning can get loans of up to
£1,500 over six months. Standard interest rates are 1,333 per cent but can be as
much as 1,721 per cent.
Someone borrowing £200 over six months, for example, would have to pay back more
than £386 including £186 in interest.
Another short-term lender, Oakam, also based in north London, offers borrowers
points for referring friends and for making repayments, which can be turned into cash
or vouchers.
You will also be paid £1 for every friend you invite to take out a loan through Oakam
(up to five a week).
If they apply for a loan, you will get a further £3, plus £10 if they are approved.
The firm, set up in 2006, even rewards you with points for downloading and signing up
for its mobile app.
But it charges up to 1,421 per cent interest on loans. So, if you were to borrow £800
over six months, you’d pay back £1,502.

2024
Debt charity Stepchange says it
is concerned that any incentives
encouraging taking out credit
could distract from the important
things such as rates.
Launched in 2012, Safety Net

Credit claims to be cheaper
than an overdraft.
Customers are required to give

the firm their sort code, account number, debit card details as well as internet banking
passwords, so it can have access to their bank account. You set a balance level and
when it falls below this, the firm automatically tops it up.
When you have enough funds, it helps itself to a repayment. Safety Net Credit charges
80p a day per £100 borrowed.
Interest is 68.7 per cent. So, £500 borrowed for a week would cost £28 in interest. The
same overdraft would cost 70p with First Direct.
Ferratum, which was founded in Helsinki and has been operating in the UK since
2011, allows customers to apply for loans of between £50 and £1,000 by text
message which can be approved within an hour. Interest is typically charged at 1,270
pc.
A spokesman for the Financial Conduct Authority (FCA) says: ‘Where we see
breaches of our rules, we have a range of powers we can use to ensure people are
being treated fairly and stop further harm. We welcome intelligence of firms failing to
comply with our requirements and we assess all evidence we receive.’
A spokesman for Safety Net Credit says it offers a cheaper alternative to overdrafts
and makes affordability checks. If the credit line becomes hard to manage it says it will
work to resolve the situation.
Frederic Nze, founder of Oakam, says the firm was set up to help those with damaged
credit histories gain access to funds and build better credit.’
Lending Stream says it makes detailed affordability checks. Ferratum did not respond
to requests for comment.
Case Study Questions
Ensure you have read the case study above.
Why did Danny borrow from a payday lender?

Danny borrowed £100 for a night out.

2024
What percentage did he have to pay back on top of his initial £100 loan?
28%
Explain whether you think it is difficult to get approved for a payday loan
I don’t think it is difficult as Danny said that it was easy to borrow more and more money, and this is
what resulted in him being in so much debt.
Over a decade how much has Danny paid back in interest?

£19,000
How long can it take to get approved for a loan via text?
90 seconds
What tactics are payday lenders using to gain more customers and get existing
customers to borrow more?
By extending how long you have to pay your loan back this is interesting more customers to borrow
from them. By doing this their existing customers are most probably having an even longer payback
term.
Generally, Credit cards have an interest rate of around 19%. What are the standard
interest rates for the firm Lending Stream?
1333%
If you borrowed £800 from Oakam how much would you have to pay back over 6
months?
£1502
Using the questions, you have answered above. Evaluate the pros and cons of
using Payday loans as a form of borrowing
A credit card as a form of borrowing is a loan where the money you spend us borrowed from the
card provider. The money you have on a credit card is not your own and must be paid back by the
end of the month. A lender will set you a credit limit and this means that there is a maximum
amount you can borrow.
A32
pro| of
P ausing
g e a credit card is that Teacher: Teresa George(TMG)
A2credit
0 2card
4 is money that you don’t have that the bank loans you that you then pay interest on when you pay back. The first positive
of a credit card is that you have a period of free credit, this is a positive as it helps gain a credit score, and make it better. Another
positive is that they are widely accepted, this means that you could spend with a credit card in a lot of places. A final positive of credit
cards is that they have the ability to be used online, this means that you can spend it basically wherever you like meaning that it is
ideal. The drawbacks of credit cards are Interest can be charged if you don’t not pay your monthly fee meaning that you have to pay
Activity 23 – Borrowing Exam Question
Assess the use of a credit card as a form of borrowing.
Activity 24 - What ways can you save & invest?
Deposit Account - A deposit account

is a bank account maintained by a
financial institution in which a
ISA- An ISA (individual savings customer can deposit and withdraw
account) is a tax-free savings or money. Deposit accounts can be
investment account that allows you savings accounts, current accounts
to put your ISA allowance to work or any of several other types of
and maximize the potential returns accounts explained below.
you make on your money, by
shielding it from income tax, tax on
dividends and capital gains tax.
Bonds & gilts- Bonds issued by

Exam Date: Thucompanies
r s d a y are
1 6 known
t h
M aasycompany
2024 or corporate bonds. A bond is a form
of debt issued by companies
(corporate bonds) or the
government (gilts) to raise money. In
Premium bonds- NS&I Premium
Bonds are a savings account you can
put money into (and take out when Saving & Investment
you want), where the interest paid is
decided by a monthly prize draw.
You buy £1 bonds and each has an
equal chance of winning, so the
more you buy, the more your
chances improve.
Pension- A workplace pension is a

way of saving for your retirement
that's arranged by your employer.
Shares - What Is the Meaning Of Some workplace pensions are
Share? A share represents a unit of called 'occupational', 'works',
equity ownership in a company. 'company' or 'work-based'
Shareholders are entitled to any pensions.
profits that the company may earn
in the form of dividends. They are
also the bearers of any losses that
the company may face.
Activity 25 – Why should you save?

Using the calculator provided workout the following about saving and investing.
Compound interest calculator -

https://www.thecalculatorsite.com/finance/calculators/compoundinterestcalculator.php
How much is a 30% deposit on a £231,855 house?

£
How long would it take you to save that amount if you saved £200 a month in a
savings account that paid 1.4%
years
2024
How long would it take to save that amount if you achieved 9.8% return in an
investment?
years
What would you earn in the investment in the same amount of time it took you to
achieve the deposit in the savings account?
£
How much money would you have after 25 years if you doubled your contribution
each month from £200 to £400 at 9.8% in an investment?
£
Write down the amount of money you want to enable you to not have to work (retire)
£
How many years will it take to reach your goal if you save £250 a month in cash with
0% interest?
years
How many years will it take to reach your goal if you save £250 a month in a savings
account with 1.4% interest?
years
How many years will it take to reach your goal if you save £250 a month in an
investment returning 9.8% interest?
years
Assess the importance of interest rates in achieving your goals and what you need to
do to achieve your financial goals

2024
Activity 26 - Risks and Rewards of Saving Versus Investment
Risk and Rewards Video Link
What would you do with £10,000 cash? (circle)
Spend Save Invest
Based on your answer above, explain your own attitude to saving and investment
(are you high or low risk?).
Savings & investments advantages and disadvantages

2024
Advantages Disadvantages
Saving
Investment
Activity 27 – Which Account is Best?

Georgia has just been given £25,000 from her Grandfather and wants to use this
money for a deposit on a house in roughly 5 years’ time. She is aware that interest
rates are low and has found 4 accounts that she thinks might be suitable to put the
money she has received from her Grandfather. She is wanting to also save an
additional £100 a month towards the deposit.
Account Interest & Charges Features

TT Cash ISA No charges Minimum of £500 to open
1.4% AER return No withdrawal limits
Fixed interest rate

ABC Regular saver No charges No minimum investment amount
0.6% AER return Instant access
Fixed interest rate

DC Fixed Rate Bond No charges Minimum investment £4000
2% AER Return Five year bond
No withdrawals for 5 years

AN Stocks & Shares £50 annual account charge Tracks the top 500 USA companies
ISA
0.5% dealing charge Withdraw investment anytime

2024
Average 8% return (not Minimum monthly investment of £50
guaranteed)
Evaluate which account would be most suited for Georgia in this situation
Activity 28 - Insurance Types
Car
Home

2024
Life
Travel
Pet
Pet

2024
Health
Activity 29 – Insurance Higher or Lower?

How much are these celebrities body parts allegedly insured for?
Celebrity & body part Amount

Rhianna Legs
Miley Cyrus Tongue
Ronaldo Legs
Keith Richards Hands
Daniel Craig Whole Body
Kim Kardashian Bum
Mariah Carey Legs

2024
Outline why these celebrities would insure their body parts for such large amounts.
Real Madrid was the ones that insured Cristiano Ronaldo’s legs. Explain the benefits
& drawbacks of them doing this.

Identify two advantages of using credit cards
Provide two disadvantages of a mortgage
Describe what a bond is

2024
List the advantages and disadvantages of ISAs
Explain the risks and rewards of investing
Discuss the advantages and disadvantages of travel insurance
Activity 31 – Learning Outcome A Kahoot Quiz

Attempt the Kahoot quiz to test your knowledge of Learning Outcome A of Unit 3:
Personal and Business Finance. Once you have completed the quiz, answer the
questions below to assess your strengths and areas for development.
What did you score on the Kahoot quiz?
/20
What areas of Learning Outcome A can you identify as your strengths after playing
the quiz?

2024
What areas of Learning Outcome A can you identify as your development areas after
playing the quiz?
How do you plan to develop the areas you have identified to increase your
knowledge and understanding of these topics?
Activity 32 – Learning Outcome A Word Scramble
1. LLEAG TRNDEE ______________________________________

2. LTEOSNV ___________________________________________
3. EINTRTES RTAE _____________________________________
4. TFNOAINLI _________________________________________
5. HECARG CDRA _______________________________________
6. RTVAOEDFR _________________________________________
7. RNUCETR UNOCATC ___________________________________
8. OERMGTAG __________________________________________
9. MIRPEMU NBDO ______________________________________

2024
10. FELI NCNEIASUR ____________________________________
Activity 33 – Learning Outcome A Word Search
F T F E X K L Q P L I F E E V E N T S R T A T V
K Q X M I S T O R E O F V A L U E D L E I D F L
B B F W Y C C C A Q J W C V W U D G C D I T R R
G V U B V A F W W A I J S Z Q A L B L R V E G D
R A Y J E C N A R U S N I E F I L Q C O C J I A
O M Z D E B I T C A R D I U X G P P V G O N V W
X P P Q P S R W Q S W O P A P I Z G K N N A O O
X N E A D O L E S C E N C E P F S L S I T W O V
F E I R Y X P N J V S E T S T O T T S D R H T Z
A L P M S D A L F W I V U Y B H F B D N O L G D
W J S C K O A Q W F F G T P W M A E N A L S F Y
E D F R K W N Y R Q U H A B J I R D O T C T M H

2024
A P Y K X W E A L B J C S S R W D D B S O R C O
G P J R M F C D L O K J P B E P R I M A S T D L
E B A F G J L E A A A G F J E W E O U D T S C S
S C M R E R X R G W T N V N H S V V I M S Z Q U
H B F X P Z P E U S V T S Q Y J O A M W H T V F
P I Y C L Y A A P R T I I B G Z F X E I F H X K
E X L F F C P P C O O J B T B Y Z L R G L R H Q
N Z Y Y C L N G A N L Z K F U F B T P N V K A B
U L R O N S K J S I M S B N U D P K V V O T Y O
G B U H M P F B X H F X J G M D E T T N H R C R
Z N Y T S N R C I E E S S O W T E S N F H B J O
T K U E I N V E S T M E N T S G H L W V F F Q V
Pensions Life insurance Investments Premium bonds

Payday loan Overdraft Package account Standing order Debit card
Avoid debt Control costs Adolescence Life events
Personal attitudes Store of value
Activity 34 – Learning Outcome A Crossword
1 2
5 6

2024
7
8 9
10
Across Down
5. This is the normal account offered to customers 1. This type of borrowing can encourage
with a reasonable credit rating overspending on consumer goods
7. When these are low people are more willing to 2. This method of payment is convenient as it can
borrow money. When they are high there is more be accessed 24/7
incentive to save. 3. Third party, third party fire and theft and fully
8. Tax is not charged on interest earned in this comprehensive are types of what insurance?
type of saving or investment 4. An advantage of this type of borrowing is that it
9. At this life stage you have; fewer dependents, allows customers to spread the cost of an
may downsize and have fewer financial needs. expensive item over a long period (25 years)
10. This function of money allows us to trade 6. Prices fluctuate, and this investment is
easily and purchase items using money rather considered higher risk
than a barter system
This page is blank for your additional revision notes:

2024
Activity 35 - Personal & Business Finance Outcome A Checklist
Well done, you have now completed the input and set activities for Learning Outcome A, you have
one final task which is to complete the specification checklist below. First, you should explain the
terminology and topic areas in the space provided and then tick the box in the last column when you
feel exam ready with regards to that specific element of the specification.
Unit 3: Personal and Business Finance Checklist
Learning Outcome A: Understand the importance of managing

personal finance.
Topic Your explanation of the terminology Exam ready?
A1 - Functions and Role of Money
Functions of money:
 unit of account
 means of exchange
 store of value
 legal tender
Role of money is affected
and influenced by a
number of factors:
 personal attitudes
 life stages
 culture
 life events
 external influences
 interest rates
Planning expenditure,
common principles to be
considered in planning
personal finances:
 to avoid getting into
debt
 to control costs
 avoid legal action
and/or
repossession
 remain solvent
 maintain a good
credit rating
 avoid bankruptcy
 to manage money
to fund purchases
 generate income
and savings
 set financial targets
and goals
2024
 provide insurance
against loss or
illness
 counter the effects
of inflation.
A2 – Different Ways to Pay
The use of money as a
payment method,
advantages and
disadvantages of:
 cash
 debit card
 credit card
 cheque
 electronic transfer
 direct debit
 standing order
 pre-paid cards
 contactless cards
 charge cards
 store cards
 mobile banking
 Banker’s
Automated Clearing
Services (BACS)
 Clearing House
Automated
Payment System
(CHAPS)
A3 – Current Accounts
Different types, features,
advantages and
disadvantages, different
services offered:
 standard
 packaged, premium
 basic
 student
A4 – Managing Personal Finance
Different types of
borrowing, features,
advantages and
disadvantages:
 overdraft
 personal loans
 hire purchase
 mortgages
2024
 credit cards
 payday loans
Different types of saving
and investment features,
advantages and
disadvantages:
 individual savings
accounts (ISAs)
 deposit and savings
accounts
 premium bonds
 bonds and gilts
 shares
 pensions
Risks and rewards of
saving versus investment
Different insurance
products:
 products (car, home
and contents, life
assurance and
insurance, travel,
pet, health)
 different types of
insurance policy for
each product
 features of different
types of insurance
 advantages and
disadvantages of
different types and
features.

2024

Unit 3 Student Book Outcome A

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Unit 3 Student Book Outcome A

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Name: George Kearton

1|Page Teacher: Teresa George(TMG)

Unit Specification: Unit 3 – Personal and Business Finance

Externally marked exam (80 marks – 2 hours)

2|Page Teacher: Teresa George(TMG)

AO1 Demonstrate knowledge and understanding of business and personal finance

AO2 Apply knowledge and understanding of financial issues and accounting

Learning Outcome A1 – Function & Role of Money

Activity 1 - What would the world be like without money?

What would the world be like without money?

How would you pay for things?

Could you save anything of value?

Knowledge would have value and can be increased and expanded.

How would you know the value of assets you had?

This would be known by seeing what the demand

Look at the value of something

Expressed in an understandable way

Allows the value of items to be compared

Use something of value to trade, money can exchange for everything

Is legally recognised by the government as a form of currency

Keeping money for a later date (savings, investments)

Justify which function of money is most important.

4|Page Teacher: Teresa George(TMG)

Activity 4 - Life Stages

Life Stage Financial needs Implications

5|Page Teacher: Teresa George(TMG)

Explain the financial needs of someone in the Childhood life stage

Activity 5 - Planning Expenditure and Personal Finances

In (£) Out (£)

Total £2000 £2000

Explain whether your finances are healthy or not

Explain the importance of having healthy finances

Activity 6 – Why Plan Expenditure?

- Avoid legal action and/or repossession

- Maintain a good credit rating

- To manage money to fund purchases

- Counter the effects of inflation

9|Page Teacher: Teresa George(TMG)

Store of value, Legal tender, Means of exchange, Unit of account

Describe unit of account

Describe 3 roles of money

Outline 2 common principals when planning personal finance.

Learning Outcome A2 – Different ways to Pay

Activity 9 - How do you pay for Goods and Services?

10 | P a g e Teacher: Teresa George(TMG)

Explain what makes something an effective payment method.

Activity 10 - Word Search Different Ways to Pay

11 | P a g e Teacher: Teresa George(TMG)

CHAPS FPS BACS mobile banking store cards charge cards

Activity 11 – Methods of Payment

Payment Method Explanation Advantages Disadvantages

Activity 12 – Payment Advantages & Disadvantages

Activity 13 – Knowledge Check A2

Explain the difference between a debit card and a credit card

Evaluate store cards as a method of payment

Learning Outcome A3 – Current Accounts

Activity 14 - What are Current Accounts?

A current account is…

Activity 15 - Video Activity on Current Accounts

Current Accounts Video Link

Standard - A current account is a bank Premium/Packaged - come with a

Activity 16 - Current Accounts and Scenarios

18 | P a g e Teacher: Teresa George(TMG)