Financial Capability

Award in Financial Education (AiFE)

The Award in Financial Education (AiFE) is a Level 2 qualification. As a Technical Award, AiFE is primarily designed for students aged 14-16 and provides an introduction to personal finance & the economy, financial management skills and enterprise.

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About the qualification

AiFE develops knowledge and valuable range of skills that provide a foundation for further study in business and finance-related disciplines, as well as a wide range of other fields (e.g. self-employed hairdressers, taxi drivers, garden landscapers). The skills and knowledge developed in AiFE can be extended by taking one further unit to form the LIBF Certificate in Financial Education (CeFE).

In England, Wales and Northern Ireland AiFE has been accredited by Ofqual at Level 2 into the Regulation and Qualifications Framework (RQF).

Read Gabbi Stopp's, Head of Employee Share Ownership at ProShare, study diary on the Diploma for Financial Advisors.

Units

AiFE consists of two mandatory units. The recommended guided learning hours (GL) for the average student to complete is 90 hours.

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.

Unit 2 - Practices of Managing Money (PMM)

Students’ will gain an understanding of the concept of financial planning and personal financial budgets. The unit will also provide an understanding of the impact on both the individual and society of spending and borrowing.

CPQ DipFA testimonials
I thought the course was well structured and involved three major tasks to provide a more rounded approach to what an adviser actually does. The coursework and factfind preparation are absolutely central skills to develop. Daniel Blandford, IFA -MK Financial Planning

What progression does our AiFE qualification offer?

Once completed, students will be able to study one further unit to form the LIBF Level 2 Certificate in Financial Education (CeFE)

CeFE has been designed to prepare students to take their place in society as responsible citizens by providing them with the skills and knowledge to manage their money well and make sound financial decisions.

Assessment

Unit 1 and Unit 2 can be assessed either by a paper-based examination or via the LIBF e-test electronic testing system.

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.

Grading

The qualification will be graded by way of Pass/Merit. Students must pass both units to achieve the award.

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Looking for further information

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Contact

If you're looking for further information get in touch via our online form or you might find the answer in our FAQ's.

Contact us FAQ’s

Frequently Asked Questions

Our Level 2 Certificate in Financial Education (CeFE) and Level 3 Diploma in Financial Education (DipFS) qualifications are included in Performance Tables across the UK and CeFE is counted towards Progress 8. Our Level 2 Certificate in Personal Finance (CPF2/CPF5) is included in Performance Tables in Wales and Scotland and Level 2 Certificate in Financial Capability and Careers Development (CeFCCD) is included in Performance Tables in Wales.

All of our Financial Capability qualifications are approved by Ofqual, SQA, Qualification Wales and CCEA.

Our Level 3 Certificate in Financial Studies (CeFS) and Level 3 Diploma in Financial Studies (DipFS) are Applied General qualifications that attract the full UCAS tariff and are equivalent to AS and A2 qualifications. Our Level 2 Certificate in Financial Education (CeFE) is the equivalent of a GCSE.

If you'd like to talk to someone on the Financial Capability team about the LIBF e-test software, call us on +44 (0)12 2782 8234 or via email: fcexams@libf.ac.uk.

To register as an Approved Centre, you will need to complete the following form:

Once completed, please email both forms to fcexams@libf.ac.uk

Once you've received approval to deliver our qualifications, a member of examinations staff at your centre will be able to register students. Please note, it will take up to 5 working days to process and confirm your registrations.

Once you've received approval to deliver our qualifications, a member of examinations staff at your centre will be able to register students. This is done using the 'Bulk register students with The London Institute of Banking & Finance' link on your MyLIBF account.

Please note, it will take up to 5 working days to process and confirm your registrations.

Once students are registered on to a qualification, your centre will gain access to our learning materials via our online platform, MyLIBF.

Costs that are involved with the delivery of our qualifications include the registration of students, resit examination and any post-result actions (e.g. Script Requests, Result Enquiries). These can be found here. There are no costs to becoming an Approved Centre.

Payments are due at the end of the calendar month.

We are unable to deal with queries directly from Financial Capability students. All communications between Financial Capability students and The London Institute of Banking & Finance must come through the student’s tutors or the centre’s examination staff.


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