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Financial Studies (CeFS) Level 3 Certificate at The London Institute of Banking & Finance

Course description

The Certificate in Financial Studies (CeFS) has been designed to provide students the core disciplines of financial capability.

Learners are encouraged to become responsible borrowers, sensible savers, and have an appreciation of the need for financial planning throughout their life.  Its purpose is to prepare students for further study through the development of the core skills of critical analysis and evaluation, synthesis, verbal communication (through classroom discussion) and written communication.

Course content

CeFS consists of two mandatory units. The recommended guided learning hours (GL) for the average student to complete is 187 hours.


Unit 1 – Financial Capability for the Immediate and Short Term

Students will gain an appreciation of why money is important through focusing on what money is; attitudes to it; and how it can affect life choices.


Unit 2 – Financial Capability for the Medium and Long Term (FCML)

Students will gain the ability to plan and manage their financial needs in the medium and long-term, with particular reference to the importance of the need to budget for future aspirations and life events.


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 CeFS (QN 600/8537/X) has a TQT of 300 and is split between GLH of 187 and other hours of 113.

Entry requirements

Although there are no specified entry requirements, the level of achievement required to obtain CeFS is equivalent to that of GCE level / AS Level qualifications. Applicants need to be satisfied of their ability to study, in English, at this level.


Both units will be assessed by paper-based examination or via the LIBF e-test electronic testing system.
Each unit is assessed through a combination of Multiple Choice Questions (Part A) and a written paper (Part B). 

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 to 5 questions in a 105-minute examination.  

Part B will also assess spelling, punctuation and grammar (SPAG) through the essay responses.

Financial information

CeFS costs £120 per student which includes registration, examination, student study materials and teaching aids and support.

Future opportunities

The skills and knowledge developed in CeFS can be extended by taking two further units to form LIBF Level 3 Diploma in Financial Studies (DipFS), or by other options for Further or Higher Education study.
CeFS offers maximum 70 UCAS points which can contribute to your university entry. 

The transferable skills developed are also valuable for further study in unrelated disciplines and the financial capability content and skills support students in making informed decisions about the value of personal, employment and study options and budgeting whilst studying. 

How to apply

If you want to apply for this course, you will need to contact The London Institute of Banking & Finance directly.

Last updated date: 01 February 2017
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