# Mock exam paper A P1 Section A & Section B Higher Level Marking Scheme

PRE-JUNIOR CERTIFICATE, 2011

MARKING SCHEME

HIGHER LEVEL

PAPER I SECTION A & B

Pre - Junior Certificate Examination 2011

Higher Level

Marking Scheme and Support Notes for use with the Marking Scheme

In considering this marking scheme the following points should be noted:

The support notes presented are not exclusive or definitive and alternative answers may be acceptable if deemed valid;

They are support notes and not model or suggested answers;

The bookkeeping layout as presented in the support notes may be accepted as best practice.

However, in some bookkeeping questions there can be a number of alternative approaches and formats that can be validly used by candidates;

Further relevant points of information presented by candidates are marked and rewarded on their merits. The detail required in any answer is determined by the context and the manner in which the question is asked and by the number of marks assigned to the answer on the examination paper. Requirements and mark allocations may therefore vary from year to year.

MARKING SCHEME (PAPER 1)

BUSINESS STUDIES – HIGHER LEVEL – PAPER I

SECTION A

Answer all twenty questions 4 marks each

1. The following initials are used in business. What do they stand for? (4 x 1)

 USP Unique Selling Point ICTU Irish Congress of Trade Unions CV Curriculum Vitae NCA National Consumer agencies

2. Explain the following terms used in insurance (2 x 2)

(i) Premium the sum of money paid for insurance

3. What is the function of the following commercial semi-state bodies? (2 x 2)

(i) Bord Gáis Supplies gas

(ii)Electricity Supply Board Supplies electricity

4. If the selling price of a DVD is €20 and the profit is €5. Calculate: (2 x 2)

SHOW WORKINGS

Profit x 100 = 5 x 100 = 33.33%

Cost price 1 15 1

(i) Profit Mark-up 33.33 %

SHOW WORKINGS

Profit x 100 = 5 x 100 = 25%

Selling price 1 20 1

(ii) Profit Margin 25%

5. Dist...