Financing the Future (FTF) - D/501/8699

 

Level

FTF is incorporated at Level 3 into the Qualifications and Credit Framework (QCF).

Duration

FTF is studied as the first of 3 units that make up the Diploma in Financial Studies (DipFS); the other 2 units are Financial Services from the Providers’ Perspective (TPP) and Enhancing Financial Capability (EFC). The Diploma in Financial Studies (DipFS) has been designed to be taught within 1 academic year.

Next course start date

The next intake for the Diploma in Financial Studies (DipFS) will be during the 2010/2011 academic year, with examinations being available to sit from 1 October 2010.

 

In Financing the Future (FTF), learners are expected to gain an appreciation of new concepts, including personal financial forecasting and monitoring, personal financial responsibility, ‘financial footprints’, other people’s financial choices and the longer-term impact and potential consequences of decision-making. The emphasis of this unit is on developing the skills of application and analysis.

The aim of FTF is to enable learners to develop, monitor and manage their financial plans to satisfy changing needs, wants and aspirations, and to take into account the impact of external factors and the consequences of personal financial decisions.

Learning outcomes

On completion of this unit learners will be able to:

  • understand the purpose and methods of budgeting
  • understand the main product types and mixes available
  • understand the affordability and suitability of products to support a personal finance plan
  • use financial information in the creation of personal financial forcasts
  • understand how to monitor the progress of personal financial plans towards their objectives
  • be able to review and develop personal financial plans to allow for changes in personal circumstances and unforseen events
  • be able to recognise the choices that need to be made when developing and adapting personal financial plans
  • be able to recommend suitable financial options available to individuals with different needs, wants and aspirations who are at different stages of the lifecycle
  • understand the personal implications of debt for individuals in different circumstances and from different cultures
  • be able to achieve a through understanding of financial planning from a range of personal perspectives

Study time

It is recommended that learners spend 55 hours of guided study time on FTF.

Entry requirements

For entry on to the Diploma in Financial Studies (DipFS), learners must have studied and achieved a pass in the Certificate in Financial Studies (CeFS).

Learners should be aware that the level of achievement required to obtain the Diploma in Financial Studies (DipFS) is equivalent to that of GCE level/ A2 Level qualifications. Applicants need to be satisfied of their ability to study, in English, at this level.

Other units for the same qualification

Core units

      Unit Two: Financial Services from the Providers’ Perspective (TPP) – J/501/8700
      Unit Three: Enhancing Financial Capability (EFC) – L/501/8701

Studying for this unit

Study method

FTF is delivered within centres across the UK. The recommended guided learning hours for FTF is 55 hours.

Learning support

The ifs runs tutor development days, providing advice, guidance and an opportunity to share best practice and expertise.

Learning resources

The ifs provides a comprehensive learning support package for tutors and learners including:

  • access to extensive online learner and tutor resources via the information gateway my ifslearning
  • specimen examination papers and justifications
  • on-demand assessment
  • ifs KnowledgeBank, an online information service and e-library, giving you access to a wide range of resources including databases, full-text journals, reference sources and books to support your learners’ studies

Assessment

FTF can be assessed either by a paper-based examination or via the ifs e-test™ electronic examination system. View further information on ifs e-test™. A breakdown of the examination can be found below. 

FTF will be assessed by a single 75-minute objective test and will comprise 42 one-mark questions; these questions consist of 7 stand-alone questions and 7 case studies each with 5 associated questions. To pass Financing the Future (FTF), students must achieve at least 21 out of 42 marks

Assessment dates

The assessment date for FTF will be decided by your centre.

If your learners have been registered and are sitting paper-based examinations, you will need to advise the ifs at least 3 weeks prior to your chosen examination date to allow us to prepare and send the papers to you.

If your learners have been registered and are sitting electronically tested examinations, you do not need to advise the ifs of your chosen examination date as the examinations will be transferred electronically as soon as you download them.

Further details

Sample material

View sample learning material for Chapter One: Budgeting and personal financial forecasts.
View a specimen paper for Unit One: Financing the Future.
View a justification and answer sheet for Unit One: Financing the Future.

Syllabus

View the FTF Syllabus .