Banking and Other Financial Organisations
Credit Value: 1
Unit ID: BZY657
Sector: 14.1 Foundations for Learning and Life
Last registration date: 31/07/2016
The learner will:
The learner can:
Who will assess?
Evidence which will be available for verification
1. Understand credit and borrowing.
1.1 Describe the advantages and disadvantages of borrowing. 1.2 Calculate the cost of making a purchase using credit. 1.3 Compare two credit products using their APR.
2. Understand how different bank accounts work.
2.1 Outline different kinds of banking account available, including savings, current and share accounts. 2.2 Describe different ways of how to withdraw cash from an account. 2.3 Describe different ways that money can be deposited into an account.
3. Understand the role of financial organisations offering saving and borrowing (e.g. banks).
3.1 Identify the range of services offered by a typical high street bank. 3.2 Compare the different ways and places to save money. 3.3 Compare the different ways and places to borrow money.
Case study Written question & answer/test/exam Oral question and answer Role play/simulation Group discussion Further assessment guidance is available here.
There is no specific assessment information to be used with this unit.
Essential Skills Wales:
C1.1: Speaking and Listening C1.2: Reading C1.3: Writing C2.1: Speaking and Listening C2.2: Reading C2.3: Writing N2.2: Carry out calculations
Financial capabilities - (D(a)5, (D(d)1), (D(i)1) Core Curriculum - Sllr/L1.1-6, Slc/L1.1-4, Sld/L1.1-3, Rs/L1.1-2, Rw/L1.1-3, Wt/L1.1-6, Ws/L1.1-3, Ww/L1.1-2, N2/L1.3, N2/L1.5, MSS1/L1.1
There is no information regarding specific assessor requirements for this unit. Centres should select assessors who are trained in assessment, and who have subject specific competence to assess at this level.
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