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Certificate for Automotive Finance Specialists (CertAutoFS) Details Page

  • Overview
  • Cost
  • Units
  • Studying
  • Assessment
  • Registration
  • Progression

Overview

The Certificate for Automotive Finance Specialists (CertAutoFS) - 601/5614/4 is aSAF logo QCF level qualification. CertAutoFS has been developed in partnership with the Finance & Leasing Association (FLA) for professionals working within the motor finance sector.

"The automotive finance sector is experiencing a period of significant growth. This growth coincides with the change of regulator for the sector from the Office of Fair trading to the Financial Conduct Authority (FCA). CertAutoFS reflects these changes and enables individuals to demonstrate their knowledge and expertise within the sector through the attainment of a fully independent, transferable and widely recognised professional qualification.

CertAutoFS is a natural progression from the FLA's Specialist Automotive Finance (SAF) test, aimed at providing customer-facing staff in motor dealerships with a basic knowledge of automotive finance products and regulation."

This qualification focuses on developing knowledge of the automotive finance marketplace, key concepts and products and the regulatory framework in which automotive operates.

CertAutoFS will help students to:

  • Understand the links between automotive finance and customer needs.
  • Demonstrate a developed awareness of the obligations associated with automotive finance.
  • Understand the scope of automotive finance and the regulations and legislation that govern it.
  • Understand key customer service and management principles that can be used in everyday scenarios

Important Qualification Related Information

Cost

Registration fee
Includes learning materials and initial examination entry


£167.00*

Examination resit fee

£129.00


* Bursaries are available to eligible students.

View price updates as from 1st July 2016.

Units

The Certificate for Automotive Finance Specialists comprises three mandatory units. The units cover the key principles of the automotive finance sector, best working practices and the regulatory framework in which it operates.

All three units have to be successfully completed in order to achieve the certificate.

Module Unit Details
CertAutoFS Unit 1 - The Automotive Finance Marketplace (AFM) - M/506/9916
Unit 1 will cover the key products, concepts and costs associated with the automotive finance sector.
Unit 2 - UK automotive finance regulation (AFR) - A/506/9918 Unit 2 will provide you with an understanding of best practice and the legislative and regulatory framework which governs the automotive finance sector.
Unit 3 - Customer service and management in an automotive finance environment (CSM) - F/506/9919 Unit 3 focuses on key approaches to deliver high standards of customer service and retention, also working practices for effective business managers.

Studying

It is recommended that you spend 135 learning hours on the Certificate for Automotive Finance Specialists (CertAutoFS), which has been designed as a self-study qualification. A comprehensive set of online learning materials is provided following registration, which enable you to study at your own pace via access to the information gateway my ifslearning.

Please note that in order to reflect any changes to syllabuses, the study materials for some units are updated annually. It is your responsibility to know when the materials are due to be updated and ensure that you are studying from the latest materials. The most up-to-date materials, updates and amendments can be found on my ifslearning, so if you print or download the materials, we suggest that you log in regularly to check for updates.

Assessment

CertAutoFS will be assessed by two hour examination:

Unit 1 - The Automotive Finance Marketplace (AFM)

AFM is assessed by one objective test comprising 25 multiple-choice questions and 1 case study with 5 linked questions. This component of the examination is to be completed in 35 minutes and is worth 30 marks.

Unit 2 - UK Automotive Finance Regulation (AFR)

AFR is assessed by one objective test comprising 40 multiple-choice questions. This component of the examination is to be completed in 45 minutes and is worth 40 marks.

Unit 3 - Customer service and management in an automotive finance environment (CSM)

CSM is assessed by one objective test comprising 15 multiple - choice questions and 3 case studies each with 5 linked questions. This component of the examination is to be completed in 40 minutes and is worth 30 marks.

The CertAutoFS objective test is available at over 150 Pearson VUE centres nationwide with the result provided on the day.

View information on examination booking and venues.

Registration

You can register for CertAutoFS at any time.

Online - complete the online registration and payment form.

By phone - call Student and Customer Services on +44 (0) 1227 818609. Please have your VISA / MasterCard / debit card to hand when you call.

By email / post - download and complete the registration form. You will need to have Adobe Acrobat Reader installed on your computer to view this file – you can download this program for free from the Adobe website. When you have completed the form either send it to the address stated on the form, or by email.

Membership

Membership of the Institute of Financial Services includes access to benefits that help you to maintain your skills and knowledge, as well as supporting your career ambitions. It costs £72 per annum and can be paid monthly by Direct Debit at no extra cost.

Apply for membership.

Progression

ifs University College does not currently provide a direct progression route for CertAutoFS students. However, there are a number of qualifications that students are able to progress on to that expand on and develop on the themes covered in CertAutoFS. In general terms these fall within two progression pathways, focusing on management and advice. The qualifications are as follows:

Management Advice
Certificate in Consumer Debt Collection (CertDC) Certificate in Mortgage Advice and Practice (CeMAP®)
Certificate in Retail Banking Conduct of Business (CertRBCB®) Certificate in Financial Administration and Planning (CeFAP®)
Award in Customer Complaints Handling (AwCCH) Diploma for Financial Advisers (DipFA®)
Certificate in Regulated Complaints Handing (CeRCH)
Award in Supervising in a Regulated Environment (AwSRE)
Certificate in Supervising in a Regulated Environment (CeSRE)


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