Financial Education Curriculum Overview
Unit 1 – Finance, the Individual and Society
- Understand the role of the citizen in the UK and the relationship between society and the individual.
- Understand the difference between money and income.
- Understand tax.
- Understand the contribution of individuals and organisations to the economy of a country.
- Understand the external factors that can impact on personal financial plans.
- Understand the concept of foreign exchange.
- Understand the concept of the personal life cycle.
Unit 2 – Practices of Managing Money
- Understand the concept of financial planning.
- Understand the key features of, and behaviours associated with, a balanced personal budget.
- Understand the link between personal financial budgets and spending choices.
- Understand the tools used in managing money.
- Understand documentation for pay and pay calculations.
- Understand the true cost of spending.
- Understand borrowing products.
Unit 3 – Financial Capability, Work and Enterprise
- Understand skills for success.
- Recognise the characteristics of a successful entrepreneur.
- Understand how a business manages its money.
- Understand the impact of an individual on a business.
- Understand the impact of a business on an individual.
- Understand how business decisions have an impact on society.
- Understand the impact of an individual’s employment and consumer choices on society.
More information and the full syllabus can be found at:
LIBF Level 2 Certificate in Financial Education (CeFE)
Unit 1 and Unit 2 can be assessed either by a paper-based examination or via the LIBF e-test electronic testing system.
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
The qualification will be graded A*- C. Students must pass each unit to achieve the Certificate.
Possible Careers and Future Education
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.