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Overview of the Subject
The Level 2 Certificate in Financial Education introduces students 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.
The level 2 finance course is divided into three different units:
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
Unit 2: Practices of Managing Money
Students’ will gain an understanding of the concept of financial budgets. The unit will also provide an understanding of the impact on both the individual and society of spending and borrowing
Unit 3: This unit provides learners with an understanding of how business manage money and the relationship between personal money management and business money management. It also provides knowledge on the Inter-relationship between individual and society of spending and borrowing.
How will I be assessed?
Units 1 and 2 are assessed by a single 45 minute test that comprises 35 questions of:
Unit 1: 20 stand-alone multiple-choice questions and five sets of stimulus material each with three associated questions.
Unit 2: 15 stand-alone multiple-choice questions and five sets of stimulus material each with four associated questions.
Unit 3: Assessed by a pre-release case study requiring written responses. This component of the examination is to be completed in 1 hour.
Exam board: Certificate in Financial Education (CeFE)
Upon completion of CeFE students will be in a good position to study the LIBF Level 3 Certificate in Financial Studies (CeFS) or the LIBF Level 3 Diploma in Financial Studies (DipFS).
CeFS has been designed to encourage students to be inspired to meet their lifestyle aspirations and teaches students to become responsible borrowers, sensible savers and have an appreciation of the need for financial planning throughout their lives.
DipFS has been designed to inspire students to meet their lifestyle aspirations through applying appropriate solutions from the wide range available within the evolving financial services marketplace.
Exam Board: London Institute of Banking & Finance