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Financial Capability

Diploma in Financial Studies (DipFS)

The Diploma in Financial Studies (DipFS) Level 3 has been designed to provide students with the opportunity to develop and enhance the knowledge and skills gained by achieving the Certificate in Financial Studies (CeFS), by applying them to the wider financial environment.

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About the qualification

As an Applied General qualification, the The Diploma in Financial Studies is primarily designed for students aged 16 - 19 and provides an in-depth exploration of the key concepts of financial capability and how they are applied to achieve longer-term financial sustainability.

DipFS builds on the skills and knowledge acquired through successful completion of the Certificate in Financial Studies and extends this to include areas such as financial sustainability within the wider financial services system, and the long-term impact of debt.

Its purpose is to prepare students for further study through the development of the core skills of independent thinking, critical analysis and evaluation, synthesis, verbal communication (through classroom discussion) and written communication. DipFS 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).

Why study the Diploma in Financial Studies?

Read the DipFS Qualification Specification

Units

DipFS consists of four mandatory units. The recommended learning hours (GLH) for an average student studying DipFS is 374 hours.

Unit 1 - Financial Capability for the Immediate and Short Term (FCIS)

FCIS highlights the importance of financial capability in meeting immediate and short-term financial needs. 

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

FCML highlights the importance of planning for medium- and long-term financial needs, with particular reference to the importance of the need to budget for future aspirations and life events.

Unit 3 - Sustainability of an Individual's Finances (SIF)

SIF highlights the importance of financial sustainability for the individual; to enable the development of skills to make sure that an individual's financial capability is sustained over a period of time.

Unit 4 - Sustainability of the Financial Services System (SFS)

SFS explores the financial services system and looks at how financial services providers work and compete with one another.

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 DipFS (ref 600 / 8551 / 4) has a TQT of 600 and is split between GLH of 374 and other hours of 226.

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As a school that embraces the teaching of financial education, it is important to have a pool of specialist teachers to deliver the content in an interesting and relevant way.

Matthew Walker -Head of Business Faculty, John Warner School
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What progression does our DipFS qualification offer?

The financially-related content of DipFS serves as a strong grounding for undergraduate study within finance and business-related disciplines, with many students going on to study accounting, business, finance and banking.

When considering the options for further study in Higher Education your students may like to consider our full-time undergraduate degrees.

The skills developed and enhanced during the course provide valuable study skills appropriate for these disciplines and others, and students have pursued a wide range of other undergraduate courses following this qualification.

Financial capability is also supportive of the personal and financial skills that underpin clear decisions about progression options and life as an undergraduate. The qualification carries the maximum UCAS points available which can be counted towards university applications.

Assessment

All four units can be assessed by paper based examination or by 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).

Unit 1 and Unit 2
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.

Unit 3 and Unit 4
Part A: 35 multiple choice questions in a 1-hour examination.
Part B: pre-release case study requiring essay responses in a 2-hour 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.

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 find the answer in our FAQ's.

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