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Financial education qualifications Level 2 Award in Financial Education (AiFE)

New registrations for one year delivery accepted until May 2024. Two year delivery accepted up until July 2024. No new registrations will be accepted beyond this date. No delivery of qualification in academic year 2025/26 and beyond.

The Award in Financial Education (AiFE) is a Level 2 qualification. As a Technical Award, AiFE is mainly designed for students aged 14-16. It introduces them to personal finance and the economy, financial management skills and enterprise.

Why study the Award in Financial Education?

About the qualification

AiFE develops knowledge and a valuable range of skills that provide a foundation for:

  • further study in business and finance-related disciplines

  • a wide range of other fields (e.g. self-employed hairdressers, taxi drivers, garden landscapers).

Students can extend the skills and knowledge they develop in AiFE by taking one further unit to form the Level 2 Certificate in Financial Education.

In England, Wales and Northern Ireland AiFE has been accredited by Ofqual at Level 2 in the Regulation and Qualifications Framework.

Read the AiFE Qualification Specification

Unit information

AiFE consists of two mandatory units. For the average student to complete the course, the recommended number of guided learning hours is 90 hours. Total qualification time consists of two elements: guided learning hours and all other hours. The AIFE (QN601/6360/4) has a total qualification time of 120, split between 90 guided learning hours and 30 other hours.

What progression does our AiFE qualification offer?

Once they have completed the AiFE, students will be able to study one further unit to form the LIBF Level 2 Certificate in Financial Education (CeFE).

CeFE has been designed to give students the skills and knowledge to manage their money well and make sound financial decisions.


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

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.



per student, including registration, examination, student study materials and teaching aids and support.

Course requirements

There are no specified entry requirements, but the level of achievement required to obtain AiFE is at Level 2 on the RQF. Applicants need to be sure they can study, in English, at this level.


The qualification will be graded by way of Pass/Merit. Students must pass both units to achieve the award.


If you are interested in registering for AiFE please complete a centre agreement form and return it via email to fcexams@libf.ac.uk.

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