The Certificate in Financial Education (CeFE) is a new Level 2 qualification which will be included in the 14-16 Technical Awards Performance Tables from the summer 2016.
Why study the Certificate in Financial Education?
As a Technical Award, the Level 2 Certificate in Financial Education (CeFE) is primarily designed for students aged 14–16 and provides an introduction to, and preparation for, further study through developing an understanding of the economy, financial management skills, employability and enterprise. CeFE introduces the student to the impact of finance on the economy and encourages them to consider how this can affect business and the individual. Through this, it develops knowledge and a valuable range of applied and transferable skills and provides a foundation for further study in business and finance-related disciplines, as well as a wide range of other fields that are encapsulated in programmes of study related to social enterprise and vocational professional development (eg self-employed hairdressers, taxi drivers, garden landscapers). The content covered, and skills developed, within the qualification ensure that it is a valuable part of a broad programme of study at Key Stage 4, particularly complementing GCSEs in Mathematics, Citizenship, and Business Studies. Beyond Key Stage 4, it can also complement A Level programmes or vocational programmes at Level 2 or 3 as an additional course of study that broadens and deepens understanding of the financial context of other content areas.
The structure of CeFE is made up of three mandatory units which need to be successfully completed in order for the student to achieve the certificate:
Certificate in Financial Education
Unit 1 – Finance, the Individual and Society
Unit 2 – Practices of Managing Money
Unit 3 – Financial Capability, Work and Enterprise
All components and units are mandatory and assessed. Each unit is assessed via the following method:
20 stand-alone multiple-choice questions and 5 sets of stimulus material each with 3 associated questions (total marks 35)
15 stand-alone multiple-choice questions and 5 sets of stimulus material each with 4 associated questions (total marks 35)
Pre-release case study requiring written responses to 5 associated questions (total marks 27).