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Financial Capability

Certificate in Financial Education Level 2 (CeFE)

CeFE is a Level 2 qualification is included in the 14-16 Technical Awards Performance Tables (confirmed for 2018/2019).

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About the qualification

CeFE introduces students to the impact of finance on the economy and encourages them to consider how this can affect businesses and individuals. Through this it develops knowledge and a valuable range of applied and transferable skills. It 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 in the Regulated Qualifications Framework.

Units

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.

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(It) Gives young people the skills, knowledge and confidence to plan for all financial eventualities in life Kiran Ranchod -Uxbridge High School, Curriculum Leader for Vocational Education and Work Related Learning

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.

Assessment

Unit 1 and Unit 2 can be assessed either by a paper-based examination or via the LIBF 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: Assessed by a pre-release case study requiring written responses. This component of the examination is to be completed in 1 hour. 

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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 receive approval to delivery 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.

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