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Financial Capability

Certificate in Financial Studies (CeFS)

The Certificate in Financial Studies (CeFS) has been designed to provide students the core disciplines of financial capability.

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About the qualification

Learners are encouraged to become responsible borrowers, sensible savers, and have an appreciation of the need for financial planning throughout their life.  Its purpose is to prepare students for further study through the development of the core skills of critical analysis and evaluation, synthesis, verbal communication (through classroom discussion) and written communication.

The Certificate in Financial Studies is included in the 16-19 Applied General Performance Tables and has been accredited by Ofqual at Level 3 and is part of the Regulated Qualifications Framework (RQF).

Units

Unit 1 – Financial Capability for the Immediate and Short Term

Students will gain an appreciation of why money is important through focusing on what money is; attitudes to it; and how it can affect life choices.

Unit 2 – Financial Capability for the Medium and Long Term (FCML)

Students will gain the ability to plan and manage their financial needs in the medium and long-term, with particular reference to the importance of the need to budget for future aspirations and life events.

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The CeFS has been really useful to me, as I think it has given me the breadth of knowledge to succeed in my future career which will hopefully be in the financial sector. Dominic Bacon -Colchester High
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What progression does our CeFS qualification offer?

The skills and knowledge developed in CeFS can be extended by taking two further units to form LIBF Level 3 Diploma in Financial Studies (DipFS), or by other options for Further or Higher Education study.
CeFS offers the maximum UCAS points which can contribute to your university entry.

The transferable skills developed are also valuable for further study in unrelated disciplines and the financial capability content and skills support students in making informed decisions about the value of personal, employment and study options and budgeting whilst studying.

View letters of support received from UK Higher Education Institutions.

Assessment

Both units will be assessed by paper-based examination or via the LIBF e-test electronic testing system.
Each unit is assessed through a combination of Multiple Choice Questions (Part A) and a written paper (Part B).

A total of 200 marks are available from both units comprising 100 marks per unit.

Part A: 35 multiple choice questions in a 45-minute examination.
Part B: pre-release case study requiring essay responses to 5 questions in a 105-minute examination. 

Part B will also assess spelling, punctuation and grammar (SPAG) through the essay responses.

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 CeFS (QN 600/8537/X) has a TQT of 300 and is split between GLH of 187 and other hours of 113.

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Frequently Asked Questions

Our Level 2 Certificate in Financial Education (CeFE) and Level 3 Certificate & Diploma in Financial Education (CeFS/DipFS) qualifications are included in Performance Tables and CeFE is counted towards Progress 8. Our Level 2 Certificate in Financial Capability and Careers Development (CeFCCD) is included in Performance Tables in Wales.

All of our Financial Capability qualifications are approved by Ofqual, Qualification Wales and CCEA.

Our Level 3 Certificate in Financial Studies (CeFS) and Level 3 Diploma in Financial Studies (DipFS) are Applied General qualifications that attract the full UCAS tariff and are equivalent to AS and A2 qualifications. Our Level 2 Certificate in Financial Education (CeFE) is the equivalent of a GCSE.

If you'd like to talk to someone on the Financial Capability team about the LIBF e-test software, call us on +44 (0)12 2782 8234 or via email: fcexams@libf.ac.uk.

To register as an Approved Centre, you will need to complete the following form:

Once completed, please email both forms to fcexams@libf.ac.uk

Once you've received approval to deliver our qualifications, a member of examinations staff at your centre will be able to register students. Please note, it will take up to 5 working days to process and confirm your registrations.

Once you've received approval to deliver our qualifications, a member of examinations staff at your centre will be able to register students. This is done using the 'Bulk register students with The London Institute of Banking & Finance' link on your MyLIBF account.

Please note, it will take up to 5 working days to process and confirm your registrations.

Once students are registered on to a qualification, your centre will gain access to our learning materials via our online platform, MyLIBF.

Costs that are involved with the delivery of our qualifications include the registration of students, resit examination and any post-result actions (e.g. Script Requests, Result Enquiries). These can be found here. There are no costs to becoming an Approved Centre.

Payments are due at the end of the calendar month.

We are unable to deal with queries directly from Financial Capability students. All communications between Financial Capability students and The London Institute of Banking & Finance must come through the student’s tutors or the centre’s examination staff.

Contact

If you're looking for further information get in touch via our online form or you might want to download our brochure.

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