Needs. Wants. Aspirations.
We all NEED money to survive.
We all WANT to afford items that we could live without.
We all ASPIRE experiences or items for the future.
Key Stage 5 – The London Institute of Banking & Finance (LIBF) Finance Qualification
What we will study?
The LIBF finance course encourages student to become responsible borrowers and sensible savers, and to appreciate the need for financial planning throughout their life.
You will study various topics throughout the two-year course. Year one is about ‘Financial Capability for the Immediate and Short Term,’ which enables students to gain an appreciation of why money is important through focusing on what money is; attitudes to it; and how it can affect life choices. Year two is about ‘Financial Capability for the Medium and Long Term,’ which enables students to gain the ability to plan and manage their financial in the medium and long-term, with a focus to the importance of the need to budget for future aspirations and life events.
The students will sit two exams for both Year One and Year Two for the course.
- Year 12 – Unit 1: Financial Capability for the Immediate and Short Term.
- Year 13 – Unit 2: Financial Capability for the Medium and Long Term.
How you will be assessed
Each unit is assessed through a combination of Multiple-Choice Questions (Part A) and a written paper (Part B). Part A can be sat via the LIBF e-test electronic testing system or via a paper-based MCQ examination. Part B will always be sat via paper-based examination.
A total of 200 marks are available from both units comprising 100 marks per unit.
- Part A: 35 multiple choice questions in a 45-minute examination.
- Part B: Pre-release case study requiring essay responses in a 105-minute examination. (Part B will also assess spelling, punctuation, and grammar (SPAG) through the essay responses.
Who should do this course:
This course is ideal for all students no matter what the pathway is after school. It will give life-skill and key information to students going to university, students looking to go into full-time employment, apprenticeship, or any other pathway. This course allows enables students to gain additional UCAS points alongside their current studies.
Where can this course lead:
All the skills and knowledge developed in CeFS can be extended though higher education study. CeFS offers the maximum UCAS points which can contribute to university entry. The transferable skills developed are also valuable for further study in unrelated disciplines. The financial education content and skills support students in making informed decisions about the value of personal, employment and study options and budgeting whilst studying.
Year 12 – Unit One Topics:
- Topic 1: Purposes of Money
- Topic 2: The Personal Life Cycle
- Topic 3: Payment Methods
- Topic 4: Everyday Banking
- Topic 5: Savings Products
- Topic 6: Borrowing Products
- Topic 7: Providers
- Topic 8: Consumer Protection
- Topic 9: Budgets and Forecasts
- Topic 10: Dealing with unexpected events
- Topic 11: Dealing with debt
- Topic 12: Earnings
Year 13 – Unit Two Topics:
- Topic 1: Needs, Wants and Aspirations
- Topic 2: Saving and Investment Products
- Topic 3: Borrowing Products
- Topic 4: Dealing with long-term risks
- Topic 5: Financial Planning
- Topic 6: Financial Planning and Informed Choices
- Topic 7: Dealing with unforeseen events
- Topic 8: Ethics and Sustainability
- Topic 9: Sources of information and advice