unit 3: personal and business finance grade boundaries

perception of where the grade boundaries may lie. Part A introduces learners to the context and is released before the Part B is taken. CURRENT ACCOUNTS Different types, features, advantages and disadvantages, different services offered: standard packaged, premium basic student, 6. Gross Profit. arguments/pros and cons in context; discussion likely to Gg. MAXIMUM MARK 60. }\\ Unit 11 Relationship Marketing Issue 2.pdf Displays a well-developed, balanced and coherent evaluation, Organising an event on your own is tricky but a group of learners will be able to plan and run a sizable event which gives scope to achieve all the criteria. hbbd```b``d"""``H,\6D IFQ[,,[V/"%Ml% K&F  _6 9 Award one mark for identification of an advantage for the Torecordpaymentofaprepaidexpense.I. they have shown they can do, rather than be penalised for omissions. Actual Sales - Break-Even Level of Output, Opening Inventory + Purchases - Closing Inventory, Non-Current Liabilities + Net Current Assets - Long Term Liabilities, Current Assets - Inventory/ Current Liabilities, Average Inventory Turnover/Cost of Sales x 365, BTEC Level 3 Business: Unit 3 - Personal & Bu, BTEC Business Revision Unit 3 - Personal and, BTEC Business- Unit 3 Finance revision exam, Business Unit 3 Personal and Business Finance, Fundamentals of Financial Management, Concise Edition, Don Herrmann, J. David Spiceland, Wayne Thomas, Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Charles T. Horngren, Madhav V Rajan, Srikant M. Datar, LIFE Exam- Chapter 3, Life Insurance Policies, Psych Mod 62- Dynamics of intelligence+ Genet. \text{ } & \text{2018} & \text{2017}\\ \hline BTEC Business Level 3 - Exam Questions & Answers - Unit 3 - Personal and Business Finance - RevisionOther Videos You Must Watch! endstream depreciate over the assets lifetime, Will produce lower profit figures in the early years in the Different rows The AAB asks for a presentation, but if this will be difficult to manage if you have a large number of learners in the class, you do not have to stick with this instruction. Evaluate external sources of finance which Wattam Grove could use to fund Option 2 - Camping and caravan site. All these documents are required as a minimum. Legislation that regulates working conditions and rules in the United States. Gives you security in case something happens The reason for this is because in the unit specification, A3 covers support for business operating internationally and this has to be analysed for A.M1. BTEC National Business | Livestream | Unit 3 (Jan 2022) Personal Finance Live Revision tutor2u 200K subscribers Subscribe 375 Share 13K views Streamed 1 year ago #btecbusiness Join Jim. <> 1820 0 obj <> endobj feature), No claims discount is protected may save money in the future if demonstrating a thorough grasp of competing In this pack you will find PowerPoints (with tasks including practice exam questions), templates and handouts. 2. (c) What combination of personal action and good fortune could help a person rise out of poverty? Business markets tend to be less well done as these concepts are more difficult to understand and apply to an actual business. The internal and external environment is usually done well and learners can readily use situational analysis techniques. On a circle graph , how many degrees should be used to show the sales of each department? Sm,I N-&K$} n{zS$IP D%IS xa$I_|e #QIW&. -Few fees "Ernie owns a water pump. the consumer may receive more interest/pay lower fees (1), Lower interest rates means paying less interest on existing debt. These plans must not be submitted as part of the learners work and will not be marked by examiners. Levels-based mark schemes (LBMS) have been designed to assess learner work appropriate specialist te chnical language. I. vocabulary 4. Xaxie2000. assertions rather than supported by evidence. 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. Depending on their roles and responsibilities, managers need to develop skill sets that enable them to work effectively in areas such as the management of people, financial, resource and quality management, and the management of change. Measuring performance. Torecordreceiptofunearnedrevenue.B. Mark & \text{H. To record payment of a prepaid expense. Paying forward- idea of taking things you have learned and been given and passing it on to another person & \text{Cash} \ldots\ldots\ldots & \text{2,000}\\ EXPLORE THE PERSONAL FINANCE SECTOR Features of financial institutions Types of organisations and their advantages and disadvantages: Bank of England banks building societies credit unions National Savings and investments insurance companies pension companies pawnbrokers payday loans. Can get more personalised service / better advice (1) because some It means that the performance and asking/answering of analytical questions can be authenticated by the internal verifier and standards verifier. Money you have earned (may or may not be physical). Content area A UNIT 3. Unit 1 - Finance, the Individual and Society (R/505/4681) Students will understand the role of the citizen in the UK, the values held by citizens, and the impact they have on personal finance. %%EOF Examiners should It works well if learners swap documents and apply for each others jobs: as well as preparing documents for the business recruiting someone, learners should also be the applicant, completing CV, covering letter and Application Form. UNDERSTAND THE IMPORTANCE OF MANAGING PERSONAL FINANCE 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 provide insurance against loss or illness counter the effects of inflation. The specification for each unit includes the assessment criteria and guidance for assessors in the section headed 'Essential information for assessment decisions'. unit 3: personal and business finance grade boundaries Posted on June 22, 2022by Mark. Break-Even Output. 100 marks available You will get a calculator EVERY mark counts!! Part B is a three-hour supervised assessment taken on the timetabled date set by Pearson. If Stefani can get a 0% card, Many providers offer additional incentive to encourage balance transfers, Put the money saved from 0% interest into a savings account and earn money on it, Consolidate any other debts into one payment, May get an increased limit by switching provider which could positively impact on her credit, May encourage excessive borrowing if credit limits are increased, Inability to find a 0% balance transfer offer could prove very expensive, Transfer limit usually applies so she can only transfer so much, Credit card provider might try and encourage the purchase of additional products, which she, Other purchases made on the card may be charged at the standard rate of interest, Increasing her credit card balance may affect Stefanis credit rating/score, which could affect, Given recent lockdown issues it might mean Stefani has been unable to go on holidays. Personal Finance Unit 3 Test Term 1 / 39 A financial plan to effectively and efficiently use a person's limited resources. (b) What kinds of assistance might a poor family be able to get from the government? <>/Filter/FlateDecode/ID[<587A7234B4B3B2110A00A0BE87FCFE7F>]/Index[4662 29]/Info 4661 0 R/Length 94/Prev 308944/Root 4663 0 R/Size 4691/Type/XRef/W[1 3 1]>>stream -Limited in transactions. Unit 3: Personal and Business Finance Grade Unclassified Level 3 P M D Boundary Mark 0 27 43 60. SCORES AND GRADE POINTS TARGET ! MARK SCHEME Duration: 1 hour and 30 minutes . 7. Stakeholders of each business should be similarly given equal consideration and their influence should be relevant to each business. Issue 3 April 2017 Pearson Education Limited 2015. Realistic document for how to a pply levelsbased mark schemes. Business. }\\ Learners could therefore choose a different business to ones already used, or use one already researched for the other LAs. 1 0 obj <>/Filter/FlateDecode/ID[<77D1072CAEB1B2110A00F08B18E6FD7F>]/Index[1895 29]/Info 1894 0 R/Length 73/Prev 591381/Root 1896 0 R/Size 1924/Type/XRef/W[1 3 1]>>stream Examiners must mark the first learner . Go to the question papers, mark schemes and examiners' reports. Level Mark Descriptor Torecordthisperiodsdepreciationexpense.\begin{matrix} \quad & \text{Cash} \ldots\ldots\ldots & \quad & \text{1,400}\\ thomassaunders00. \text{Total assets} & \underline{\underline{\$ 4,000,000}} & \underline{\underline{\$ 3,800,000}}\\ repair costs), Machine is owned and is an asset and shown on the Statement of Financial As with any role play, it is strongly recommended to record the interviews (audio or visually) for a number of reasons. If you buy the item instantly you would be happy for having it, but it is costly to pay for it in the future. In order to achieve this evaluation they should discuss the effects of the internal, external and competitive environments on the business and assess these effects for C.P4 and C.M3. Supply and demand curves are illustrative, but they should be clearly explained, and referenced. Demonstrates the use of logical reasoning, clarity, and appropriate endobj They should produce a survey for delegates to analyse. Fixed/constant- same pay each pay period (salary). 11d Award two marks for the correct answer of 20 units, Award one mark for the formula in either words of figures, Margin of safety = expected output break-even quantity Issue 3 April 2017 Pearson Education Limited 2015, Question For C.D2 learners need to make a judgement on how well the chosen business is affected by the environment in which it operates, and show they understand and can use a variety of situational analysis techniques. In class example, twice as much because you are paying not only for the item you purchased but the right to borrow the money as well (interest). 1897 0 obj \text{Less: Accumulated depreciation} & \underline{(380,000)} & \underline{(190,000)}\\ 71 Table 3: Advantages and disadvantages of different types of borrowing. \quad & \text{Accumulated Depreciation} \ldots\ldots\ldots & \quad & \text{4,000}\\ endobj 4. vary, At the end of the lease Mike will have to return the asset, Does not own the machine so does not improve the value of the business, Will face additional costs of 1500 if the business tries to end the lease No claims discount is not protected despite being second most (1st Extended Response), Fixed-same every month, require commitment, have little say in how much they are (mortgage, car payment, etc). hbbd```b``fA$dr,~ BTEC Level 3 Business: Unit 3 - Personal & Busines 29 terms. This unit includes aspects of both personal and business finance. \text{Stockholders' equity:} & \text{ } & \text{ }\\ Learners records and diaries/logs of the planning process are expected in their evidence. ), Commercial Law (Eric Baskind; Greg Osborne; Lee Roach), Tort Law Directions (Vera Bermingham; Carol Brennan), Principles of Anatomy and Physiology (Gerard J. Tortora; Bryan H. 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Unit 3 is an external examination worth 35% of your final qualification The exam is in May 2020 This is a essential part of the course success and marks in this unit will have a HUGE impact on your overall achievement in the course. Learners need to carry out situational analysis and to consider cultural differences. supplier trying to get him to switch. A valid assignment will enable a clear and formal assessment outcome based on the assessment criteria. The learners have to complete two SWOTs for the interviewer and interviewee roles and from this information, prepare a personal skills development plan. & \text{Cash} \ldots\ldots\ldots & \text{7,500}\\ Mark Scheme (Results) January Enterprise and Entrepreneurship Unit 3 Personal and Business Finance (31463 H) BTEC Level 3 National in Business Mark Scheme (Results) January Enterprise and Entrepreneurship Unit 3 Personal an. & \text{Interest Expense} \ldots\ldots\ldots & \text{1,000}\\ 12. w``yCKd+)>Y Learners need to understand the financial decisions they will need to take throughout life. Giving back- returning help or service to someone who gave you help or service 80 : 48 . Th 2016 OSCA materials include an example of learner work for Learning Aims B-E. As well as investigating ideas for an event, learners should consider actual big events theyve had experience of; they must consider the factors which these events have in common to make them successful to meet B.P3. Resources - Unit 3: Personal and Business Finance ( Exam) 2019 papers and mark schemes : January 20 paper and mark scheme : New format exam 80marks : PLCs Personal and Business finance : Unit 3 Powerpoint notes : Learning Aim E Workbook.docx : Learning Aim F.docx : Practice questions Business Finance.docx: Tort law & Omissions - Lecture notes 3, EAT 340 Solutions - UNIT1 Lesson 12 - Revision Material (Previous Examination Paper 2017 ), Offer and Acceptance - Contract law: Notes with case law, Lab report(shm) - lab report of simple harmonic motion, Unit 6 - The History of the NHS (Journal Article), Importance of Studying Child and Adolescent Development, Acoples-storz - info de acoples storz usados en la industria agropecuaria. The updated course will be fully complete by Feb half-term 2022. Who it's for \text{Retained earnings} & \underline{2,209,400} & \underline{2,044,400}\\ BTEC business level 3 unit 3 personal business and finance - Page 2 - The Student Room log insign up Home Forums Forums by section Chat Life and style Entertainment Debate and current affairs Study help University help and courses Universities and HE colleges Careers and jobs Introduce yourself Help and announcements Popular university forums \text{D. To record receipt of an accrued revenue.} Recent flashcard sets. Comparing multiple options, unit sizes/prices, looking for deals, buying in bulk, Gross-hourly: rate times wage It would be better if the businesses were not in the same industry as this would give learners more scope to investigate the differences. Unit results for BTEC National qualifications are reported on a 5 point grade scale: Distinction (D), Merit (M), Pass (P), Near Pass (N) and Unclassified (U). What is the difference between fixed/constant income and variable income? Raw mark scores can be downloaded by Exams Officers from Edexcel Online. & \text{Interest Receivable} \ldots\ldots\ldots & \text{5,000}\\ D|Q`]i VH2:n>@s000R {, unit 3: personal and business finance grade boundaries unit 3: . Learners will also consider the factors that influence the implementation of these strategies. INCOME TYPES OF INCOME Capital income: loan mortgages shares owners capital debentures. Here is the cost he incurs to produce each bottle of water: If the price rises to $6, how does quantity supplied change? At no more . Drug-List - A list of all drugs required for the exam including they receptors, action. G)mrQ. Evidences the weighing up of competing arguments/pros and 3. Learners will be pl aced For LA D, the requirement is about cultural factors which generally will affect international businesses and learners don't have to apply this to a named business, but they can of course give examples. Timely. Learners should note interview responses when in the interviewer role and make a decision on whether to recruit. (. An Administrative Support Guide is available to help guide you through the assessment process. startxref early, Cost is 10 800* more than the loan over the five-year period (excluding Displays a balanced evaluation demonstrating an awareness of The controlled conditions for this unit allow learners to: Learners must not have access to the Internet, email, or any other resources aside from their permitted notes. {{navigationJson.popularQualificationtitle}}, {{navigationJson.qualificationcolumnTitle1}}, {{navigationJson.qualificationcolumnTitle2}}, {{navigationJson.qualificationcolumnTitle3}}, Grade boundaries - January 2023 - Edexcel Award Pass Marks, /content/dam/pdf/Support/Grade-boundaries/Edexcel-Award/2301-edexcel-awards-grade-boundaries-v1.pdf, Grade Boundaries - January 2023 - International A Level, /content/dam/pdf/Support/Grade-boundaries/International-A-level/2301-ial-subject-grade-boundaries-v1.pdf, Notional Component Grade Boundaries - January 2023 - International GCSE (9-1), /content/dam/pdf/Support/Grade-boundaries/International-GCSE/2301-intgcse-9-1-notional-component-grade-boundaries-v1.pdf, Grade Boundaries - 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June 2022 - International GCSE (9-1), /content/dam/pdf/Support/Grade-boundaries/International-GCSE/2206-intgcse-9-1-subject-grade-boundaries.pdf, /content/dam/pdf/Support/Grade-boundaries/International-GCSE/2206-intgcse-9-1-notional-component-grade-boundaries.pdf, Grade Boundaries - June 2022 - Mathematics in Context, /content/dam/pdf/Support/Grade-boundaries/core-maths/2206-l3c-subject-grade-boundaries.pdf, Notional Component Grade Boundaries - June 2022 - Mathematics in Context, /content/dam/pdf/Support/Grade-boundaries/core-maths/2206-l3c-notional-component-grade-boundaries.pdf, Grade Boundaries - June 2022 - Project Qualifications, /content/dam/pdf/Support/Grade-boundaries/Project-qualifications/2206-level-2-3-project-subject-grade-boundaries.pdf, Grade Boundaries - Summer 2022 - T Levels, /content/dam/pdf/Support/Grade-boundaries/t-levels/t-level-grade-boundaries-summer-2022.pdf, {{translateWord(navigationJson.covidTitle)}}, {{translateWord(navigationJson.subjectTitle)}}, {{translateWord(navigationJson.qualificationTitle)}}, {{navigationJson.qualificationcolumn1CTAtext}}, {{navigationJson.qualificationcolumn2CTAtext}}, {{navigationJson.qualificationcolumn3CTAtext}}, {{translateWord(navigationJson.supportTitle)}}, {{translateWord(navigationJson.aboutusTitle)}}, {{translateWord(navigationJson.contactusTitle)}}, Alcester Academy and North Bromsgrove High School, BTEC (Levels 1-3), Employability and Skills, Higher Education, Higher Technical Qualifications (HTQs) and LCCI, View grade boundaries from the most recent exam series. in exactly the same way as t hey mark the last. \text{\_\_\_\_\_\_4.} IxP'Prd,E00 sgT31:/RcJ{Eg6i{ The features, outlined in the unit content, should be considered in equal measure in each business. Evidences thorough application leading to a balanced analysis The points scores available for each external unit at grade boundaries are as follows: Unit Size 90 GLH 120 GLH Unclassified 0 0 Near Pass 6 8 Pass 9 12 Merit 15 20 . Examiners must mark the first learner to supported conclusions. Unit 3 Personal and Business Finance Unit 6 Principles of Management Unit 7 Business Decision Making Grade statistics The grade statistics show the number of learners who completed each qualification each year, and the proportion achieving each grade. View grade boundaries from the most recent exam series Find all available grade boundaries Step 1. Logical reasoning evidenced throughout response which is clear and uses . Before a person can make a budget they must know __________. & \text{Salaries Expense} \ldots\ldots\ldots & \text{6,000}\\ Discussion is partially developed, but will be imbalanced. 5. When using a levels-based mark scheme, the be st fit approach should be used. Position increasing the value of the business, Works out 10 800* cheaper (ignoring repair costs) over the life, Interest rates could fall which would reduce the cost, Significant deposit might be required that the business may not have, Could lose the property if it defaults on the loan repayments, Additional installation and delivery cost, which will need to be funded The BTEC Centre Guides below provide guidance on how to run the assessment of internally assessed units. Emma_Upson. cons in context. BTEC Business Level 3 Introduction - JCB Academy Units - Diploma Unit 1 - Exploring Business Unit 2 - Developing a Marketing Campaign Unit 3 - Personal & Business Finance Unit 4 - Managing an Event 7. expensive product, Profit margin = profit / sales revenue x 100, (65 000 13 000) / (65 000 + 195 000) x 100, Gross profit margin = gross profit / sales revenue x 100, More depreciation in the early life of the asset and less in the . 10. & \text{Cash} \ldots\ldots\ldots & \text{9,000}\\ AS Business Book: Year 1 - Opportunities and Functions. The chosen businesses should be two contrasting businesses which operate in different markets (developed, emerging or less developed). \text{Inventory} & \text{$1,900,000$} & \text{$1,349,000$}\\ they have evidenced each of the descriptor bullet points. Measurable 6 0 obj Indicati ve content (1) which may improve their decision making (1), Convenient (1) as many banks have branches in city centres (1), Some products may be exclusively available in branches only (1) so Explain what fixed and variable taxes are and how they are different. LEVEL 3 CAMBRIDGE TECHNICAL IN BUSINESS Unit 3: Business decisions. Of course, they should also use contrasting markets for A.P1, emerging, developing and developed as indicated in A1. \text{Notes payable} & \text{$760,000$} & \text{$760,000$}\\ BTEC BUSINESS Unit 3: Personal and Business Finance HOMEWORK Unit 3 is an external examination worth 35% of your final qualification The exam is in May 2020 This is a essential part of the course success and marks in this unit will have a HUGE impact on your overall achievement in the course. \text{C. To record payment of an accrued expense.} 12523 Comments Please sign inor registerto post comments. Learning Aim E should use a named, selected business which is trading internationally, and looks at strategic and operational issues. . Meaning may be conveyed but in a non-specialist way; This is a popular optional unit. -Have various fees, -Investment Different types of borrowing, features, advantages and disadvantages: overdraft personal loans hire purchase mortgages credit cards payday loans. When setting a budget, you must manage your _________ and limit your ___________.