LIBF Certificate in Financial Education - Level 2
Taught in: Year 9 - 10
Exam Board: The London institute of Banking and Finance (LIBF)
MYP Criteria: A: Knowing and Understanding, B: Investigating, C: Communicating, D: Thinking Critically
Exam Board: The London institute of Banking and Finance (LIBF)
MYP Criteria: A: Knowing and Understanding, B: Investigating, C: Communicating, D: Thinking Critically
LIBF Certificate in Financial Education (CeFE) – Year 9 & 10
CeFE provides students with an understanding of the economy, financial management skills, employability and enterprise. CeFE introduces the student 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 as well as a wide range of other fields that are encapsulated in programmes of study related to social enterprise and vocational professional development (eg self-employed hairdressers, taxi drivers, garden landscapers).
Course structure
The Certificate in Financial Education is made up of three mandatory units which need to be successfully completed in order for the student to achieve the award. In the first year of the course, students study the first two units (Finance, the Individual and Society (FIS) and Practices of Managing Money (PMM)) which are both assessed through a 35 question multiple choice exam. The second year focuses solely on the final unit (Financial Capability, Work and Enterprise (FCWE)) which is assessed by a pre-released case study requiring written answers to 5 different questions.
Unit 1: Finance, the Individual and Society (FIS)
Students will understand the role of the citizen in the UK, the values held by citizens and the impact they have on personal finance. The unit will also provide students with an understanding of following:
Unit 2: Practices of Managing Money (PMM)
PMM Students will understand the concept of financial planning and personal financial budgets, along with the following:
Unit 3: Financial Capability, Work and Enterprise (FCWE)
FCWE has been designed to provide learners with an understanding of how a business manages money and the relationship between personal money management and business money management. The unit also provides knowledge on the inter-relationship between the individual and business, along with the ability to understand the following:
Preparation for further study
After successful completion of CeFE, students can progress to studying the following LIBF qualifications which are offered in our sixth from. LIBF Level 3 Certificate in Financial Studies (CeFS) is completed by all students in year 12 and LIBF Level 3 Diploma in Financial Studies (DipFS) is completed by all students in year 13. These qualifications offer the maximum UCAS points.
CeFE provides students with an understanding of the economy, financial management skills, employability and enterprise. CeFE introduces the student 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 as well as a wide range of other fields that are encapsulated in programmes of study related to social enterprise and vocational professional development (eg self-employed hairdressers, taxi drivers, garden landscapers).
Course structure
The Certificate in Financial Education is made up of three mandatory units which need to be successfully completed in order for the student to achieve the award. In the first year of the course, students study the first two units (Finance, the Individual and Society (FIS) and Practices of Managing Money (PMM)) which are both assessed through a 35 question multiple choice exam. The second year focuses solely on the final unit (Financial Capability, Work and Enterprise (FCWE)) which is assessed by a pre-released case study requiring written answers to 5 different questions.
Unit 1: Finance, the Individual and Society (FIS)
Students will understand the role of the citizen in the UK, the values held by citizens and the impact they have on personal finance. The unit will also provide students with an understanding of following:
- The difference between money and income
- The contribution of individuals and organisations to the economy of a country
- The external factors that can impact on personal financial plans
- Tax and the concept of foreign exchange
- The concept of the personal life cycle
Unit 2: Practices of Managing Money (PMM)
PMM Students will understand the concept of financial planning and personal financial budgets, along with the following:
- The key features of, and behaviours associated with, a balanced personal budget
- The link between personal financial budgets and spending choices
- The impact of spending and borrowing on both the individual and society
- The tools used in managing money
- Documentation for pay and pay calculators
- What the true cost of spending is
- The different types of borrowing products
Unit 3: Financial Capability, Work and Enterprise (FCWE)
FCWE has been designed to provide learners with an understanding of how a business manages money and the relationship between personal money management and business money management. The unit also provides knowledge on the inter-relationship between the individual and business, along with the ability to understand the following:
- What are the characteristics of a successful entrepreneur
- How a business manages their money
- The impact of an individual on a business
- The impact of business on an individual
- How business decisions have an impact on society
- The impact of an individual’s employment and consumer choices on society
Preparation for further study
After successful completion of CeFE, students can progress to studying the following LIBF qualifications which are offered in our sixth from. LIBF Level 3 Certificate in Financial Studies (CeFS) is completed by all students in year 12 and LIBF Level 3 Diploma in Financial Studies (DipFS) is completed by all students in year 13. These qualifications offer the maximum UCAS points.
