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Financial Education

Financial skills for life

Develop your students’ financial knowledge and confidence with our suite of qualifications specifically designed for 14-19 year olds.

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Statement from Catherine Winter, Managing Director, Financial Capability and Community Outreach

Update: 19 August 2020

Dear colleagues,

Following the recent announcement by Ofqual that they will now be awarding grades based on Centre Assessed Grades (CAGs) for A Levels and GCSEs we wanted to provide an update on our qualifications.
 
LIBF Qualification Type
 
Our school qualifications (Level 3 CeFS/DipFS, Level 2 AiFE/CeFE, CEFFCD, and LiFE) are all classed as Vocational Technical Qualifications.
 
What process did LIBF use?
 
The process that we used to award student grades did not use the same algorithm that Ofqual applied to AS/A levels and GCSEs.
 
We devised a process that used a combination of data from any previously graded assessments and CAGs provided in rank order by centres. All CAGs were reviewed by an experienced team, including our Chief Examiner. Whenever necessary, in the case of an error or issue, contact was made with the appropriate centre to seek further clarification and possible review and resubmission of CAGs. Over 99% of grades were awarded in line with CAGs.
 
Release of results

We have released results both for Level 3 and Level 2 earlier than normal this year to help centres prepare the information they need for their students. It is not our intention to make any changes to results that have been released.
 
Results are only to be released to students on the national results days.

Timeline of events

We have produced a visual timeline of all key dates for the summer 2020 results, deadline dates for appeals and exam entry dates for students wishing to take an autumn resit. The autumn resit is only available for students who would have certificated in summer 2020.

Appeals

Ofqual have stated that students will be able to appeal – through their school or college – if they believe the process this summer was not followed correctly in their case; and centres themselves can appeal if they believe something systemic has gone wrong in relation to their results. 

Should there be any questions about grades awarded, or if you/your students wish to appeal a grade awarded, please contact fcexams@libf.ac.uk in the first instance. Full details of our appeals process, including the initial informal step, are available here.

Autumn examination series fees

Following the release of the summer results, some of your students may wish to resit qualifications again in the autumn. For students wishing to resit any of the following qualifications, the entry fees are 50% of the original fee.

  • Certificate in Financial Capability and Careers Development (Wales only)
  • LiFE Award (LiFA) and LiFE Certificate (LiFC)
  • Award in Financial Education (AiFE)
  • Certificate in Financial Education (CeFE)
  • Students wishing to retake either Level 3 Certificate in Financial Studies (CeFS) or Diploma in Financial Studies (DipFS) in the autumn series will be able to resit these free of charge.

    Further information

    We know that this has been a very challenging time for both you and your students. If you have any questions about our processes please contact our support team via email at fcexams@libf.ac.uk.
     

Best wishes,

Catherine Winter



 
 
 
 
 

Get up-to-date information relating to Coronavirus.

Frequently Asked Questions

Our Level 3 Certificate & Diploma in Financial Education (CeFS/DipFS) qualification is included in Performance Tables. 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.

To register as an Approved Centre, you will need to complete the following form:

Once completed, please email to fcexams@libf.ac.uk

Once you’ve receive approval to deliver our qualifications, a member of the 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 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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