You are here: King Edward VI College > Financial Studies (LIBF)

Financial Studies (LIBF)

Course Overview

As a Technical Award, the Level 2 Certificate in Financial Education (CeFE) provides an introduction to, and preparation for, further study through developing an understanding of the economy, financial management skills, employability, and enterprise.

The content covered, and skills developed, within the qualification ensure that it is a valuable part of a broad programme of study at Key Stage 4, particularly complementing GCSEs in Mathematics, Citizenship, and Business Studies. Beyond Key Stage 4, it can also complement A Level programmes or vocational programmes at Level 2 or 3 as an additional course of study that broadens and deepens understanding of the financial context of other content areas.

How many hours per week?

Teaching contact time is 4 hours and 20 minutes per subject. Other workshops will be available throughout the year including over some holiday periods. Students are expected to spend a minimum 4 hours of independent study to complete assignments, homework, extra reading and independent research.

Entry Requirements?

The Level Three Foundation Programme has a consistent set on entry requirements for each course. Students are required to have already achieved a of 4,4,3 at level 2 (GCSE or equivalent)

Exam Board

Why study this course?

CeFE introduces the student to the impact of finance on the economy and encourages them to consider how this can affect business and the individual. Through this it develops knowledge and a valuable range of applied and transferable skills and provides a foundation for further study in business and finance-related disciplines, as well as a wide range of other fields that are encapsulated in programmes of study related to social enterprise and vocational professional development (eg self-employed hairdressers, taxi drivers, garden landscapers).

What will I learn?

• Public finance and the economy, including how these relate to:
social, political, and cultural factors.
political institutions and processes.
impacts on individuals, businesses, and society.
• Financial management, including:
financial planning.
budgeting and financial management tools for managing money.
spending and borrowing.
• Employability, enterprise, and business, including how these relate to:
business financial management.
benefits to, and consequences for, businesses, individuals, and society.

What skills will I develop?

The qualification will enable students to:
• develop an understanding of the key content areas and how they relate to each other.
• identify, understand, and use information from a range of sources.
• use appropriate tools to manage a personal budget and apply these concepts to business enterprise.
• apply the concept of financial planning to enhance financial literacy and make informed financial decisions.
• demonstrate numeracy skills, including the ability to manipulate financial and other numerical data (such as calculating the costs of borrowing and spending) to reflect the conceptual activity of financial mathematics.
• communicate ideas and arguments clearly both verbally though classroom discussion and in writing.
• develop research skills, communication, and independent study; and,
• develop skills of analysis and evaluation through extended written assessment.

The written components support the students in:
• taking an application-focused approach from the outset
• integrating knowledge and skills incrementally throughout the course
• preparing themselves to apply the full range of their skills and understanding in tackling the case study assessment.
• gaining sufficient practice in explaining, justifying, and evaluating in clear written English.

How will I be taught?

Classroom activities will include:
• Multiple choice tests
• Essay based assessments
• Interactive online quizzes
• Group research tasks
• Pre-issue case study materials

• Students are provided with the following learning resources:
-online access via MyLIBF- to a complete set of learning materials, including course texts, activities to consolidate learning, and to KnowledgeBank (virtual library);
-unit syllabuses;
-study tips;
-specimen, past papers and exemplars

How will I be assessed?

100% exam
CeFE consists of three mandatory units. Unit 1 and Unit 2 are assessed by a single 45-minute test that comprises 35 questions.

Unit 1 – Finance, the Individual and Society
Students will understand the role of the citizen in the UK, the values held by citizens, and the impact they have on personal finance.

The Unit 1 Test consists of 20 stand-alone multiple-choice questions and five sets of case studies each with 3 associated questions. To achieve a pass for Unit 1 and Unit 2, learners are required to achieve 17/35 for each unit.

Unit 2 – Practices of Managing Money
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.

The Unit 2 test consists of 15 stand-alone multiple-choice questions and five sets of case studies each with four associated questions.

Unit 3 – Financial Capability, Work and Enterprise
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.

Unit 3 is assessed by a pre-release case study requiring written responses. This component of the examination is to be completed in 1 hour. For Unit 3, learners are required to achieve 50%

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

Where will this course take me?

Preparation for further study
The financially related content and skills of this qualification provide an initial foundation for continued study within accountancy, finance, and business-related qualifications at Level 3. The transferable skills of research, communication and independent study developed through this course are also valuable for further study in many disciplines.

CeFE it is primarily designed to provide a solid foundation in personal finance which underpins employment in any field of endeavour; this foundation is across a wider range of opportunities than would be found within a single apprenticeship standard.

Although CeFE does not currently form a mandatory element within a recognised apprenticeship standard, employers strongly recommend that apprentices should take one of a selection of qualifications as part of their Financial Services Customer Adviser Standard. This is to ensure robust knowledge and contribute to raising standards of professionalism across the sector.

Preparation for employment
This qualification develops initial knowledge, skills and understanding of financial management and enterprise, which are valued in most organisations, particularly the financial services sector, and are especially valuable in terms of self-employment, but it does not qualify students for direct entry to a particular occupational role.

Staff contact details

Vikki Seyfert

We use cookies to help improve your experience. See our privacy policy for details. OK More info

Why we use cookies How to manage cookies