Unit Award Scheme
112689 UNDERSTANDING BANK ACCOUNTS AND SAVINGS
In successfully completing this unit, the Learner will have | Evidence needed | |
---|---|---|
demonstrated the ability to | ||
1 | identify at least three different bank or building society accounts | Summary sheet or student completed work |
2 | list two types of plastic banking cards issued by banks or building societies, eg debit card | Summary sheet or student completed work |
3 | select an appropriate bank account for own use | Summary sheet |
4 | complete an application form to open a bank or building society account | Summary sheet |
5 | identify at least five entries on a bank statement correctly | Summary sheet |
shown knowledge of | ||
6 | at least three examples of how an on line bank account can be used, eg for transferring money, checking an account and making payments | Summary sheet or student completed work |
7 | at least three advantages of using bank or credit cards | Summary sheet or student completed work |
8 | at least three disadvantages of using bank or credit cards | Summary sheet or student completed work |
9 | at least three different ways of saving money | Summary sheet or student completed work |
10 | at least three advantages of using direct debits or standing orders | Summary sheet or student completed work |
11 | at least three dangers of pay day loans and loan sharks | Summary sheet or student completed work |
12 | other services offered by a bank or building society, eg mortgages, ISAs | Summary sheet or student completed work |
13 | the importance of not going overdrawn | Summary sheet or student completed work |
experienced | ||
14 | taking part in a discussion about the benefits and disadvantages of using a credit union for managing personal finances and savings | Summary sheet |
15 | making a cash withdrawal from an ATM. | Summary sheet |
All outcomes recorded on an AQA Summary Sheet
Approved 14 October 2019Level - Entry Level