Level 2 Certificate in Financial Education

Financial Education

Level 2 Certificate in Financial Education

CeFE is a Level 2 qualification including units 1 and 2 from AiFE and an additional third until based on a case study and written paper.

Two girls studying

New registrations for 1 year delivery accepted until November 2023. 2 year delivery accepted until July 2024. Registrations for continuing students topping up from AiFE accepted until May 2024. No delivery of qualification in academic year 2025/26 and beyond.

About the qualification

CeFE introduces students to the impact of finance on the economy and encourages them to consider how this can affect businesses and individuals. Through this it develops knowledge and a valuable range of applied and transferable skills. It provides a foundation for further study in business and finance-related disciplines.

In England, Wales and Northern Ireland CeFE has been accredited by Ofqual at Level 2 in the Regulated Qualifications Framework.

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


CeFE consists of three mandatory units. The recommended Guided Learning Hours (GLH) for the average student to complete is 130 hours.

Unit 1 - Finance, the Individual and Society (R/505/4681)

Students will understand the role of the citizen in the UK, the values held by citizens, and the impact they have on personal finance.


Unit 2 - Practices of Managing Money (F/505/4689)

Students will gain an understanding of the concept of financial planning and personal financial budgets. The unit will also provide an understanding of the impact on both the individual and society of spending and borrowing.

Unit 3 - Financial Capability, Work and Enterprise (F/505/4692)

This unit provides students with an understanding of how businesses manage money and the relationship between personal money management and business money management.  It also provides knowledge on the inter-relationship between the individual and business.

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 CeFE (QN601/1239/6) has a TQT of 180 and is split between GLH of 130 hours and other hours of 50.

What progression does our CeFE qualification offer?

Upon completion of CeFE students will be in a good position 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.


Unit 1 and Unit 2 can be assessed either by a paper-based examination or via the LIBF e-test electronic testing system.

Units 1 and 2 are assessed by a single 45 minute test that comprises 35 questions of:

Unit 1: 20 stand-alone multiple-choice questions and five sets of stimulus material each with three associated questions.

Unit 2: 15 stand-alone multiple-choice questions and five sets of stimulus material each with four associated questions.

Unit 3: Assessed by a pre-release case study requiring written responses. This component of the examination is to be completed in 1 hour. 


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