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Financial Capability

Certificate in Personal Finance (CPF2)

The Certificate in Personal Finance (CPF2) has been designed to equip students with the knowledge and skills to be able to manage their own money confidently and effectively.

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About the qualification

Students will gain knowledge about the practical and legal constraints on the sources and uses of money, the methods of organising their money through personal budgeting, the considered use of appropriate bank and building society accounts and the concepts and consequences of overspending or payment default.

In England, Wales and Northern Ireland the CPF2 has been accredited by Ofqual at Level 2 into the Regulated Qualifications Framework (RQF). 

Units

CPF2 consists of three mandatory units. It is recommended that students spend 140 learning hours of which 102 should be guided learning hours.

Unit 1 - Personal Financial Encounters (PFE)

PFE aims to increase students’ understanding of the sources of money and the importance of budgetary control, enabling them to make informed decisions about their finances. 

Unit 2 - Money Management Solutions (MMS)

The aim of MMS is to develop students’ understanding of the banking systems available to them. This will enable them to make informed choices about their bank accounts and spending decisions.

Unit 3 - Personal Finance Management (PFM)

The aim of PFM is to increase students’ understanding of personal finance, taking into account affordability, choice and protection.

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 CPF2 (500/9897/4) has a TQT of 140 hours and is split between GLH of 102 hours and other hours of 38.

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The main curriculum doesn't cover these issues in enough depth.  These courses give good opportunities for students to learn valuable life skills and knowledge. Malcolm White -Deputy Head Teacher, Leventhorpe
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What progression does CPF2 offer?

Once completed students will be able 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

All units can be assessed either by a paper-based examination or via the LIBF e-test electronic testing system. Passes must be achieved in all three units to gain the qualification.

  • Unit 1 is assessed by a single 30-minute objective test comprising 18 multiple-choice questions and four sets of stimulus material each with three linked questions.
  • Unit 2 is assessed by a single 30-minute objective test comprising 18 multiple-choice questions and four sets of stimulus material each with three linked questions.
  • Unit 3 is assessed by a single 30-minute objective test comprising 10 multiple-choice questions, and two sets of stimulus material each with five linked questions.

Grading

The qualification will be graded A*-C. Students must pass each unit to achieve the certificate.

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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.

 

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