Describe the role of the Financial Ombudsman Service
Btec Unit 3 Personal and Business Finance A

Flashcard
•
Business
•
12th Grade
•
Easy
Michaela McDaid
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27 questions
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1.
FLASHCARD QUESTION
Front
Back
Help settle disputes between consumers
2.
FLASHCARD QUESTION
Front
Which is not a function of money? Options: Legal Tender, Means of exchange, Unit of account, Measure of a commodity
Back
Measure of a commodity
3.
FLASHCARD QUESTION
Front
In which life stage may a student loan be most important?
Back
Young Adult
4.
FLASHCARD QUESTION
Front
In which life stage will you most likely be making regular mortgage payments?
Back
Middle Age
5.
FLASHCARD QUESTION
Front
In which life stage will you need encouragement to start saving money?
Back
Childhood
6.
FLASHCARD QUESTION
Front
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
Back
Avoid solvency
7.
FLASHCARD QUESTION
Front
"Payment is transferred directly from one bank account to another" describes which method of payment? Options: Electronic Transfer, Credit Card, Direct Debit, Standing Order
Back
Electronic Transfer
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