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Certificate in Financial Education (CeFE)

The Certificate in Financial Education (CeFE) is a new Level 2 qualification which will be included in the 14-16 Technical Awards Performance Tables from the summer 2016.

About the qualification


CeFE introduces the student to the impact of finance on the economy and encourages them to consider how this can affect business and the individual. Through this it develops knowledge and a valuable range of applied and transferable skills and provides a foundation for further study in business and finance-related disciplines.

In England, Wales and Northern Ireland CeFE has been accredited by Ofqual at Level 2 into the Regulated Qualifications Framework (RQF).


What progression does our CeFE qualification offer?

Upon completion of CeFE students will be in a good position to study the LIBF Level 3 Certificate in Financial Studies (CeFS) or the LIBF Level 3 Diploma in Financial Studies (DipFS).

CeFS has been designed to encourage students to be inspired to meet their lifestyle aspirations and teaches students to become responsible borrowers, sensible savers and have an appreciation of the need for financial planning throughout their lives.

DipFS has been designed to inspire students to meet their lifestyle aspirations through applying appropriate solutions from the wide range available within the evolving financial services marketplace.


CeFE consists of three mandatory units. The recommended guided learning hours (GLH) for the average student to complete is 130 hours.

Unit 1 - Finance, the Individual and Society

Students will understand the role of the citizen in the UK, the values held by citizens, and the impact they have on personal finance.


Unit 2 - Practices of Managing Money

Students’ will gain an understanding of the concept of financial planning and personal financial budgets. The unit will also provide an understanding of the impact on both the individual and society of spending and borrowing.

Unit 3 - Financial Capability, Work and Enterprise

This unit provides learners with an understanding of how businesses manage money and the relationship between personal money management and business money management.  It also provides knowledge on the inter-relationship between the individual and business.

Total Qualification Time (TQT) is a prediction of the total time the typical student may need to complete the course. TQT consists of two elements, Guided Learning Hours (GLH) and all other hours. The CeFE (ref 601/1239/6) has a TQT of 180 and is split between GLH of 130 hours and other hours of 50.


Unit 1 and Unit 2 can be assessed either by a paper-based examination or via the ifs  e-test™ electronic testing system.

Units 1 and 2 are assessed by a single 45 minute test that comprises 35 questions of:

Unit 1: 20 stand-alone multiple-choice questions and five sets of stimulus material each with three associated questions.

Unit 2: 15 stand-alone multiple-choice questions and five sets of stimulus material each with four associated questions.

Unit 3: is assessed by a pre-release case study requiring written responses to five associated questions. This component of the examination is to be completed in 1 hour. 


The qualification is graded A*-C. Achievement of a pass in all three units leads to the achievement of the award.


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