Year 1 Certificate in Financial Studies (CeFS)
Unit 1- Financial Capability for the immediate and short-term
• Understand the value and purposes of money.
• Understand the concept of the personal life cycle and the impact of external influences.
• Understand the features of different types of financial services product.
• Understand the role of key stakeholders in financial services provision.
• Understand the characteristics of financial products for managing money.
• Understand how to manage finance in the short term and the impact of poor and unforeseen circumstances.
• Understand the impact of legislation and regulations on earnings and the key features of income tax and National Insurance.
• Understand an individual’s financial needs through the various life stages.
Unit 2 - Financial Capability for the medium and long-term
• Understand the influence of values, needs, wants and aspirations on financial decision making.
• Understand how to budget for future aspirations and life events.
• Understand how to plan for medium- and long-term financial needs.
• Understand the features of risks and rewards in managing personal finances.
• Understand the features of different types of financial services product
• Understand how to make informed financial choices in the selection of financial services products.
• Understand when, where and how an individual can get financial help and advice.
Year 2 Diploma in Financial Studies (DipFS)
Upon successful completion of Year 1 which is the equivalent of an AS-Level, students can choose to continue with the Diploma in Financial Studies in Year 2. Year 1 and Year 2 exam scores are then combined for the final grade that is equivalent of one full A Level.
Unit 3- Sustainability of an individual’s finances
Unit 4- Sustainability of the financial services system
Students must attain a minimum of level 5, ideally level 6, in both GCSE English (Language or Literature) and Maths. Well-developed writing techniques and mathematical ability are required for this demanding course.