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Junior Cycle · Junior Cycle Business Studies

Junior Cycle Business Studies: Financial institutions & services

How often Financial institutions & services comes up on the Business Studies papers, every year it was asked, and questions to try.

CL Asked on 4 of the last 6 Common Level papers, most recently in 2025. most years

Financial institutions & services, Common Level(7 marks)

Quick ones on Financial institutions & services.

(a)What is a key feature of a credit union?
  1. It is owned by overseas shareholders
  2. It is owned by its members
  3. It is a government department
(b)Your employer pays your wages straight into your bank account. What is this service called?
  1. Direct debit
  2. Standing order
  3. Paypath
(c)Which service lets your electricity supplier take a different amount from your account each time?
  1. Direct debit
  2. Paypath
  3. Standing order
Show the answers

(a) It is owned by its members

(b) Paypath

(c) Direct debit

Your turn: Common Level questions on Financial institutions & services.

Common Level

Asked on 4 of the last 6 Common Level papers, most recently in 2025. most years

Every paper, year by year

YearWhere it came up
2026Not asked
2025Q16a
2024Q18c
2023Not asked
2022Q18b
2019Q16c

Links open the State Examinations Commission’s paper for that year.

More Financial institutions & services questions

Financial institutions & services, 2 marks

Which is an advantage of contactless payment for a consumer?

  1. It earns interest on each payment
  2. Shops cannot charge VAT on it
  3. It is fast for small purchases
Show the answer

It is fast for small purchases

Tapping a card or phone is quick and convenient for small amounts. The risk is losing track of spending, so check your account often.

Financial institutions & services, 2 marks

Which service lets you spend more than is in your current account, up to an agreed limit?

  1. A savings bond
  2. An overdraft
  3. A deposit account
Show the answer

An overdraft

An overdraft is short-term borrowing on a current account. Interest is charged on the amount overdrawn, so it suits short gaps, not long-term needs.

Other Business Studies topics

All of Junior Cycle Business Studies