Finance Education is a vital skill which allows students to understand the use of money and make informed decisions at all ages. CeFE introduces students to the impact of finance on the economy and encourages them to consider how this can affect businesses and individuals.
Through this it develops knowledge and a valuable range of applied and transferable skills. It provides a foundation for further study in business and finance-related disciplines.
After school sessions for additional support run on a rota basis as advertised to the students.
All components and units are mandatory and assessed. Each unit is assessed via the following method:
- Unit 1: 20 stand-alone multiple-choice questions and 5 sets of stimulus material each with 3 associated questions (total marks 35);
- Unit 2: 15 stand-alone multiple-choice questions and 5 sets of stimulus material each with 4 associated questions (total marks 35).
- Unit 3: pre-release case study requiring written responses (total marks 27). iv. Spelling, punctuation and grammar to be marked through the written responses (total marks 3)
For the multiple choice assessment for Unit 1 and Unit 2, each item will require students to choose the correct answer (key) from a choice of four possible answers. The assessment component for Unit 3 will test students' ability to integrate the skills, concepts and knowledge from the unit. Unit 2 builds upon Unit 1 and the content of Unit 3 has been designed to combine concepts, skills, techniques and factual content from across the units in order to enable students to demonstrate an integrated understanding of concepts, theories, and knowledge from across the syllabus.
Unit 1 - Finance, the Individual and Society
- Understand the role of the citizen in the UK and the relationship between society and the individual.
- Understand the difference between money and income.
- Understand tax.
- Understand the contribution of individuals and organisations to the economy of a country.
- Understand the external factors that can impact on personal financial plans.
- Understand the concept of foreign exchange.
Understand the concept of the personal life cycle.
Unit 2 - Practices of Managing Money
- Understand the concept of financial planning.
- Understand the key features of, and behaviours associated with, a balanced personal budget.
- Understand the link between personal financial budgets and spending choices. · Understand the tools used in managing money.
- Understand documentation for pay and pay calculations.
- Understand the true cost of spending.
- Understand borrowing products.
Unit 3 - – Financial Capability, Work and Enterprise
- Understand skills for success.
- Recognise the characteristics of a successful entrepreneur.
- Understand how a business manages their money.
- Understand the impact of an individual on a business.
- Understand the impact of a business on an individual.
- Understand how business decisions have an impact on society.
Understand the impact of an individual’s employment and consumer choices on society.
Useful Resources and Revision Support
Students have login access to their own online LiBF support page that offers a range of resources and external links to support with revision and exam practice. From this page students can track exam results, download lesson materials and access a wide range of resources to support their learning.