Financial Capability

Award in Personal Finance (APF1)

Please note this qualification is to be withdrawn and replaced by Lessons in Financial Education. Any new registrations for APF1 must be received by 31 May 2017 and the last date to sit the exam is 14 July 2017. 

The Award in Personal Finance (APF1) has been designed to equip students with the knowledge and skills to be able to manage their own money.


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What progression does APF1 offer?

Once students have successfully completed APF1 they will be able to study the LIBF Level 2 Certificate in Personal Finance (CPF2) or the LIBF Level 2 Certificate in Financial Education (CeFE)

CPF2 has been designed for people who are or who will shortly be reaching a life stage when they no longer depend on others for their financial provision.

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.

About the qualification

Students will gain knowledge of the influences on how we spend or save money, and of the tools available to become competent at managing their own money.

This will be achieved by learning about:

  • where money comes from, who makes it, and what its features are
  • the features of a current account / how to access money
  • different sources of money including earned income, benefits and exchanging items for money
  • the key features of savings and borrowing products
  • how to manage cash

In England, Wales and Northern Ireland APF1 has been accredited by Ofqual at Level 1 into the Regulated Qualifications Framework (RQF)

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

Units

APF1 consists of two mandatory units. It is recommended that students spend 90 learning hours of which 54 should be guided learning hours (GLH).

Unit 1 - The Principles of Money

When studying POM students will start to understand where money comes from and the features of money.

Unit 2 - Money Management

When studying MOM students will start to understand basic sources of income and will start to explore how income and money can be used in terms of savings, borrowing, spending and selling and the impact of these on a personal financial budget.

Total Qualification Time (TQT) is a prediction of the total time the typical student may need to complete the course. TQT consists of two elements, Guided Learning Hours (GLH) and all other hours. The APF1 (ref 500/9896/2) has a TQT of 90 hours and is split between GLH of 54 hours and other hours of 36.

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

Assessment

Both units can be assessed by a paper-based examination or via the LIBF e-test electronic testing system.

Unit 1 is assessed by a 30-minute objective test comprising 21-multiple choice questions, and three sets of stimulus material each with three linked questions. 

Unit 2 is assessed by a 30-minute objective test comprising 15-multiple choice questions, and five sets of stimulus material each with three linked questions.

Grading

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

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Looking for further information

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All the information you need about our suite of Financial Capability qualifications.

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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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