Unit Award Scheme
PSE019 PERSONAL FINANCE
In successfully completing this unit, the Learner will have | Evidence needed | |
---|---|---|
demonstrated the ability to | ||
1 | outline two financial services available to the individual from a chosen banking or savings institution | Student completed work |
2 | identify the meaning of the terms and abbreviations used on a bank statement | Student completed work |
3 | identify how credit and debit items are taken into account in determining the balance | Student completed work |
4 | describe the difference between gross pay and net pay | Student completed work |
5 | identify two statutory and one non-statutory deductions from pay and describe what each deduction is for | Student completed work |
6 | produce, from given information, a realistic personal budget for living costs for one week or one month | Student completed work |
7 | explain why pension planning is important for the individual | Student completed work |
8 | outline the meaning of annual percentage rate of interest (APR) | Student completed work |
9 | describe the main advantages and disadvantages of buying on credit | Student completed work |
10 | outline the difference between a credit card and a debit card | Student completed work |
11 | describe two personal state benefits or allowances and describe the circumstances in which each is paid. | Student completed work |
All outcomes recorded on an AQA Summary Sheet
Approved 29 July 2010Level - Level One