Level
The Diploma in Financial Studies (DipFS) is incorporated at Level 3 into the Qualifications Credit Framework (QCF) and is listed as such in Register of Regulated Qualifications.
Duration
The Diploma in Financial Studies (DipFS) has been designed to be delivered during 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.
The Diploma in Financial Studies (DipFS) enables learners to develop and further the knowledge and skills gained by achieving the Certificate in Financial Studies (CeFS) to the wider financial environment. It will also enhance their financial capability by helping them understand issues from perspectives beyond their own; including that of the providers of financial services and to appreciate the consequences of decisions and their impact upon personal financial footprints.
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 Diploma in Financial Studies (DipFS) can provide up to 120 UCAS points.
Qualification details
The Diploma in Financial Studies (DipFS) consists of 3 units:
Unit 1: Financing the Future (FTF) - D/501/8699
Unit 2: Financial Services from the Providers' Perspective (TPP) - J/501/8700
Unit 3: Enhancing Financial Capability (EFC) - L/501/8701
A pass must be achieved in all 3 units to gain the qualification. Students receive 2 registrations for each unit to allow them to potentially improve their grade.
View overall information about this qualification.
Qualification learning outcomes
On completion of this qualification students will be able to:
- understand the need for personal budgeting and be able to create and monitor an appropriate personal finance plan
- understand the financial product types and mixes available to the individual and assess their suitabilitiy and affordability to support a personal financial plan and changing personal circumstances
- understand the wider financial environment , its key impacting factors and its application to a variety of different groups of people from a range of cultures, different socio-economic groupings and at different stages in their lifecycle
- appreciate a financial provider's prospective and their aims and objectives
- understand how providers develop products to suit different customers and be able to analyse this
- develop an understanding of promotional products, including the more complex products such as pensions and investments, how they will suit different individual needs, wants and aspirations and how providers retain and attract customers
- appreciate the factors that will influence and change the financial marketplace such as ethical considerations
- explain the benefits of an efficient and effective financial services industry
Entry requirements
For entry on to the Diploma in Financial Studies (DipFS), students must have studied and achieved a pass in the Certificate in Financial Studies (CeFS).
Students 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.
Studying for this qualification
How do I study?
The ifs’ Level 3 Diploma in Financial Studies (DipFS) is delivered within centres across the UK. The recommended guided learning hours for DipFS is 330 hours (this includes 150 gained learning hours from CeFS).
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 students including:
- access to extensive online student 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 students’ studies
From September 2010 the ifs School of Finance will supply study materials for CeFS and DipFS students free of charge.
Assessment
FTF and TPP can be assessed either by a paper-based examination or via the ifs e-test™ electronic testing system. EFC is assessed by a paper-based examination. View further information about ifs e-test™. A breakdown of the examinations can be found below.
Financing the Future (FTF) will be assessed by a single 75-minute objective test and will comprise 42 one-mark questions: 7 are stand-alone questions and 35 questions are based on 7 case studies each with 5 associated questions. To pass Financing the Future (FTF), students must achieve at least 21 out of 42 marks.
Financial Services from the Providers' Perspective (TPP) will be assessed by a single 75-minute objective test and will comprise 42 one-mark questions: 21 are stand-alone questions and 21 questions are based on 3 case studies each with 7 associated questions. To pass Financial Services from the Providers' Perspective (TPP), students must achieve at least 21 out of 32 marks.
Enhancing Financial Capability (EFC) is a single paper-based written examination based on pre-released case study material. Students are required to answer 1 question from a choice of 2. To pass Enhancing Financial Capability (EFC), students must achieve at least 10 out of 40 marks. Please note that EFC is a paper-based examination and is held on set dates each year.
To achieve the qualification, students are required to achieve a pass of 50% in both FTF and TPP and 25% in EFC. A minimum of 40% overall is required to pass the qualification. The overall grade bands (out of a total of 124 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 for Chapter One: Budgeting and personal financial forecasts.
View a specimen paper for Unit 1: Financing the Future.
View a justification and answer sheet for Unit 1: Financing the Future.
Registering
If you are from a centre that is interested in delivering the Diploma in Financial Studies (DipFS), please register your interest and our Further Education Customer Support Team will contact you.
Regulations applicable to this qualification
View the regulations for the Diploma in Financial Studies (DipFS).
UCAS benchmarking
DipFS 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