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Level 3 Certificate in Financial Studies

Financial Capability

Level 3 Certificate in Financial Studies

CeFS covers the core disciplines of the financial capability. Students are encouraged to become responsible borrowers and sensible savers, and to appreciate the need for financial planning throughout their life.

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About the qualification

The course encourages students to become responsible borrowers and sensible savers, and to appreciate the need for financial planning throughout their life. It prepares them for further study by developing the core skills of critical analysis and evaluation, verbal communication (through classroom discussion) and written communication.

CeFS is included in the 16-19 Applied General Performance Tables, has been accredited by Ofqual at Level 3 and is part of the Regulated Qualifications Framework.

2020 performance tables

All you need to know about our qualifications in performance tables.

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What is it really like to teach or take one of our financial education qualifications? Our teachers and students share their journey with us.

Units

Unit 1 – Financial Capability for the Immediate and Short Term (T/504/8100)

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) (D/504/8110)

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.

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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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

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

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 in a 105-minute examination. 

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

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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.

Talk to our exam officers support team for any LIBF e-test queries.

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.

Contact

If you're looking for further information get in touch via our online form or you might find the answer in our FAQ's.

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