We use cookies on all our websites to gather anonymous information about your visit that helps us to make improvements and increase performance. By continuing you are consenting to these cookies.

If you would like more information or would like to change your cookie preferences, please visit our cookies page.

Financial Capability

Lessons in Financial Education (LiFE) Units

FC-11SIF_020

About the Programme

LiFE Programme

The Lessons in Financial Education (LiFE) Programme consists of three units, each costing £10. It is not formally assessed but once students have completed each unit they will receive a Certificate of Completion.

LiFE Award

Once students have completed Unit 1 of the programme they can then undertake the Level 1 LiFE Award. This is a formal assessment of the unit, so students will receive a Level 1 qualification. The assessment fee is £10 per student to take this qualification.

Read the LiFE Award qualification specification

LiFE Certificate

From September 2017, students will have the opportunity to gain a Level 1/2 qualification, the LiFE Certificate. This is the formal assessment for Units 2 and 3. The assessment fee is £10 per unit, meaning a combined cost of £20. Students must have passed the assessment for all three units to gain the Certificate.

Read the full LiFE Certificate qualification specification

LiFE unit breakdown table

Read how David Anderson, Financial Capability Relationship Manager has seen how LiFE is changing the culture of how the next generation manage their personal finances.

Topics 

Unit breakdown

The LiFE Programme is made up of three units and is designed to be delivered over a 12 month period.  Although students can complete the learning independently, tutors have additional functions to monitor their progress. Once students have completed the learning for Unit 1, they will be able to take the formal assessment, the LiFE Award. From September 2017 they will be able to take the LiFE Certificate which is the formal assessment for Units 2 and 3.

Unit 1 - Your personal finances

1.1) Money
1.2) Sources of money
1.3) Storing money safely
1.4) Spending and budgeting
1.5) Saving and selling
1.6) Borrowing
1.7) What is insurance
1.8) How do we keep our money safe?

Unit 2 - Money Management for your generation

2.1) Modern banking
2.2) Pay and pay calculations
2.3) Types of payment card
2.4) The cost of borrowing
2.5) Using Money abroad
2.6) Financial difficulties and their consequences
2.7) Financial advice and protection

Unit 3 - Your future, your career

3.1) Employability: applying for a job  
3.2) Roles and career paths
3.3) The financial services industry
3.4) Routes into financial careers and other industries

What progression does the LiFE Programme offer?

Students can progress through the programme, gradually building on their skills and challenging themselves to proceed to the next level. Once they have completed the suite, they may want to progress onto our Level 3 qualifications which carry the maximum UCAS points or make a good foundation for those considering an apprenticeship.  

How long does the LiFE Programme take?

Once registered, students have 12 months to work their way through the topics and complete the programme.

There are no set deadlines for each topic and the programme can be paused at any time with students restarting where they left off. This allows for cohorts of various abilities and guarantees no students will be held back from progressing at their own pace, offering complete flexibility to teachers and learners.

The LiFE Award has a TQT (total qualification time) of 48.5 hours. The LiFE Certificate TQT is 179 hours, with 92 Guided Learning Hours.

How do you access LiFE?

All learners study online starting with Unit 1 of the LiFE Programme. Once you receive login details, all you need is internet access and a set of headphones (paper and pen will also be useful). You access the e-learning platform via MyLIBF.

Does a learner need a computer all the time?

No, as we provide topic handouts and suggested activities that can be used in an alternative classroom setting. Learners can then follow up independently by accessing the programme and completing the topics and activities.

Are there any course entry requirements?

There are no entry requirements although students are expected to be able to study at a level appropriate to Level 1 in maths and English and have basic IT and numeric skills (manipulate basic financial and numerical data).


What's it like to deliver LiFE?

 

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.

Contact us
LIFE-1

You may also be interested in

 

Financial Capability

Diploma in Financial Studies

Students can enhance the knowledge and skills gained in our CeFS by applying them to the wider financial environment.

View course

Financial Capability

Certificate in Financial Studies

This level 3 qualification provides students with a comprehensive understanding of the core disciplines of financial capability.

View course