Unit Award Scheme

13274 PERSONAL FINANCE FOR WORK

In successfully completing this unit, the Learner will have		Evidence needed
demonstrated the ability to
1	identify at least two different ways in which payment for work is made, eg weekly wages, salaries	Student completed work
2	use given information to complete a record for one week's income and expenditure for an identified person, including essential spending, eg travelling to work, special clothes	Student completed work
3	describe at least two different methods of payment for work, eg bank transfer (BACs), cash	Student completed work
4	explain the meaning of the terms gross pay, net pay, voluntary deductions and compulsory deductions	Student completed work
5	describe at least two reasons why tax and national insurance are deducted at source from a wage/salary	Student completed work
6	explain at least two advantages of contributing towards a pension.	Student completed work

All outcomes recorded on an AQA Summary Sheet

Approved 10 March 2009Level - Entry Level