KS5 Financial Studies

Curriculum Information Note:

All curriculum information is currently under review. We will update our website shortly with changes.

Full Course Title: Vocational IFS Level 3 Diploma in Financial Studies

What does the course involve?

The IFS Level 3 Diploma in Financial Studies consists of four units. Students will study two units in Year 12 to achieve a certificate and two units in year 13 to convert it to the full diploma. The certificate and diploma carry the same amount of UCAS points as an AS and A level respectively. The LIBF Level 3 in Financial Studies course provides a basis for a career in a wide range of differing degrees in Accounting, Finance and Business Studies or you can progress on to an apprenticeship or start a career in marketing, Human Resources, insurance, retail banking, business banking, customer services and financial services. The course also provides an extremely useful foundation for those considering setting up their own business. Career and Progression Opportunities Students will be in a position to make informed choices related to pursuing one of the many roles available within the sector, either immediately, through further study, or whether to apply the financial skills that they have developed to other careers or study options. Financial capability is also supportive of the personal and financial skills that underpin clear decisions about progression options.

How is it assessed?

The course is strongly supported by a detailed range of electronic resources on the IFS website which are made

available to all students enrolled on the course. The course is examined throughout the year; you will sit two exams

for each unit. One exam is completed online and is multiple choice, the other is a written exam. You will also have

the opportunity to re‐sit the exams should you want to further improve your grade.

Year 12

Unit 1 – Financial Capability for the Immediate and Short Term (FCIS) 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. The unit introduces students to the financial services industry and they will gain an appreciation of the differentiation of financial products for savings and the key features of interest and charges on borrowing.

Unit 2 – Financial Capability for the Medium and Long Term (FCML) Students will consider the changing priorities attached to needs, wants and aspirations as individuals progress through life, and the role of financial services in assisting financial planning. Learners gain an understanding of the personal approaches that individuals take towards risk and rewards and the impact of other influences on financial budgeting.

Year 13

Unit 3 – Sustainability of an Individual's Finances (SIF) Students will explore how external factors affect the financial services industry's products and services enabling students to make informed financial judgements within given situations. Students will gain an understanding of the impact of global events, developments and ethical considerations that impact on the financial services industry and the consumer.

Unit 4 – Sustainability of the Financial Services System (SFS) Students will analyse the impact of marketing techniques employed by financial services providers and the impact of changes in the financial services market and the effect this has on consumers. Students will gain an understanding of how financial services providers use marketing methods and segmentation, and approaches to attract, retain and satisfy their customers.

Links & Resources

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Links & Resources

Links & Resources

Links & Resources

Links & Resources

Lightcliffe Academy

Stoney Lane
Halifax, HX3 8TL

Tel: 01422 201 028
Fax: 01422 204 615

Registered Office:

Abbey Multi Academy Trust
c/o Chapter House
Abbey Grange Church of England Academy
Butcher Hill
LS16 5EA
Registered Company Number: 07705552