2.a The difference between Learners should outline the The following assessment methods can credit cards and debit difference between credit be used in the assessment of this cards cards and debit cards. standard: tasks/questions and answers The advantages and Learners should a questions and answers 2.b identify discussion disadvantages of minimum of three log/reflective journal credit cards advantages and three of practical ability disadvantages of using credit witness evidence cards. discussion This list is not exhaustive and other appropriate assessment methods may be used. 3 The learner will know what is meant by interest rates and APR The learner must know: Assessment Requirements Evidence Location 3.a How interest rates affect Learners should identify how The following assessment savings and borrowing interest affect savings be used in the assessment of this and borrowing. standard: Simple interest on savings Learners should tasks/questions and 3.b calculate questions and answers and borrowing over simple interest on savings discussion different periods and borrowing over a period.
2.a The difference between credit cards and debit cards Learners should outline the difference between credit cards and debit cards. The following assessment methods can be used in the assessment of this standard: tasks/questions and answers questions and answers discussion log/reflective journal of practical ability witness evidence discussion This list is not exhaustive and other appropriate assessment methods may be used. 2.b The advantages and disadvantages of credit cards Learners should identify a minimum of three advantages and three disadvantages of using credit cards. 3 The learner will know what is meant by interest rates and APR The learner must know: Assessment Requirements Evidence Location 3.a How interest rates affect savings and borrowing Learners should identify how interest affect savings and borrowing. The following assessment be used in the assessment of this standard: tasks/questions and questions and answers discussion 3.b Simple interest on savings and borrowing over different periods Learners should calculate simple interest on savings and borrowing over a period.
Understanding%20Banks%20and%20Credit%20Cards%20L1%20CV2%20AIM%20Awards%20Component%20V1.docx