Level
The Certificate in Financial Studies (CeFS) is incorporated at Level 3 into the Qualifications Credit Framework (QCF) as is listed as such in Register of Regulated Qualifications.
Duration
The Certificate in Financial Studies (CeFS) has been designed to be delivered during 1 academic year.
Next course start date
The next intake for the Certificate in Financial Studies (CeFS) will be during the 2010/2011 academic year until 21 October 2010, with examinations being available to sit from 1 October 2010.
The Certificate in Financial Studies (CeFS) has been designed to encourage individuals to be inspired to meet their lifestyle aspirations. This will be achieved by teaching them to apply the appropriate solution(s) from the wide range available within the evolving financial services marketplace.
Learners who wish to learn how to make informed and confident decisions regarding their finances should consider the Certificate in Financial Studies (CeFS).
Career relevance
This qualification can provide a route to higher education and to a career in financial services. Together the Certificate in Financial Studies (CeFS) and the Diploma in Financial Studies (DipFS) can provide up to 120 UCAS points.
Routes through our qualifications
Upon completion of the Certificate in Financial Studies (CeFS), learners will be in a good position to study the Diploma in Financial Studies (DipFS).
Qualification details
The Certificate in Financial Studies (CeFS) consists of 3 units:
Unit 1: Why Money Matters (WMM) - K/501/8463
Unit 2: Risk and Reward in Personal Finance (RAR) - M/501/8464
Unit 3: Making Personal Judgements (MAJ) - T/501/8465
A pass must be achieved in all 3 units to gain the qualification.
View overall information about this qualification.
Qualification learning outcomes
On completion of this qualification learners will be able to:
- appreciate the benefits that can be derived from financial services products, and how these can contribute to achieving their personal aspirations
- develop an awareness of risk and reward, and the obligations associated with different financial solutions
- understand the concept of ‘money’ in all its forms, and how its value is subject to time and circumstance
- understand the scope of the financial services industry and how it impacts upon the individual
- appreciate how different external factors impact upon the individual directly, and indirectly
- compare and contrast a range of financial solutions and draw reasoned, informed and sound financial judgements in particular contexts
Entry requirements
Although there are no specified entry requirements, the level of achievement required to obtain the Certificate in Financial Studies (CeFS) is equivalent to that of GCE level/ AS Level qualifications. Applicants need to be satisfied of their ability to study, in English, at this level.
Studying for this qualification
How do I study?
The ifs’ Level 3 Certificate in Financial Studies (CeFS) is delivered within centres across the UK. The recommended guided learning hours for CeFS is 150 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
From September 2010 the ifs School of Finance will supply study materials for CeFS and DipFS students free of charge.
Assessment
Why Money Matters (WMM) and Risk and Reward (RAR) can be assessed either by a paper-based examination or via the ifs e-test™ electronic testing system. Making Personal Financial Judgements (MAJ) is assessed by a paper-based examination. View further information about ifs e-test™. A breakdown of the examinations can be found below.
The assessment of Why Money Matters (WMM) is designed to test students’ knowledge and understanding of the course material. The total overall mark available for WMM is 50. To achieve a pass for Why Money Matters (WMM) students are required to gain a mark of 50% or 25 out of 50 marks.
Risk and Reward in Personal Finance (RAR) seeks to test students’ broader knowledge and understanding together with their ability to apply their learning through case study scenarios. The total overall mark available for RAR is 35. To achieve a pass for Risk and Reward in Personal Finance (RAR), students are required to gain a mark of 50% or 17 out of 35 marks.
Making Personal Financial Judgements (MAJ) builds upon WMM and RAR and will test the higher-level cognitive skills of analysis and evaluation. The total overall mark available for MAJ is 40. To achieve a pass for Making Personal Financial Judgements (MAJ), students are required to gain a mark of 25% or 10 out of 40 marks. Please note that MAJ is a paper-based examination and is held on set days each year.
A minimum of 40% overall is require to pass the qualification. The overall grade bands, out of a total of 125 marks across the 3 units, are decided at a grade award meeting held after each unit 3 examination session.
Further details
Sample material
View sample learning material: Unit 1 - Chapter 1: An introduction to money
View a specimen paper for Unit1: Why Money Matters
View a justification and answer sheet for Unit 1: Why Money Matters
Registering
If you are from a centre that is interested in delivering the Certificate in Financial Studies (CeFS), please register your interest and our Further Education Customer Support Team will contact you.
Regulations applicable to this qualification
View the regulations for the Certificate in Financial Studies (CeFS).
UCAS benchmarking
CeFS carries a UCAS tariff of 60 points and can provide a route to higher education and to a career in financial services. Further information regarding acceptance of CeFS and DipFS by UK higher education institutions can be found in our CeFS/DipFS and Higher Education entry brochure.
The qualification was benchmarked against an AS in Economics.
Application for UCAS tariff for Certificate in Financial Studies (CeFS) and Diploma in Financial Studies (DipFS)
The ifs Student Investor Challenge
The ifs Student Investor Challenge is a business competition for UK students aged 14-19. It helps teach the practical and theoretical processes involved in successful share trading. Running from November to April, the ifs Student Investor Challenge is an enjoyable way to introduce students aged between 14 and 19 to financial investment. It will also enable them to develop their key skills in teamwork, communication, decision making, problem solving and time management. View further information about the ifs Student Investor Challenge.
Additional information
View additional information about studying with the ifs.
Contact us
Call Further Education Customer Support on +44 (0) 1227 818609 (option 3) or email fca@ifslearning.ac.uk