Financial Studies - LIBF Level 3

Business, Administration and Law

Business, Administration and Law
Business, Administration and Law
We are only accepting one application per candidate.

What will you be working towards?

Alternative Title Financial Studies
Code 600/8537/X
Qualification Type GCE A/AS Level or Equivalent
Qualification Level Level 3
Course type Full Time

Overview

This is a one-year course. The qualification is equivalent to 0.5 A Level and will be graded A* – E.  

Details

Every person, company or industry that you can think of in the world requires services to help them manage their money, protect them from unforeseen events or provide credit or loans. This is where financial services come in and why they are so important.

Unit 1 –Financial Capability in the Immediate and Short Term - This unit highlights the importance of financial capability in meeting immediate and short-term financial needs. It introduces students to the financial services industry by focusing on the interaction between money, personal finance and the financial services marketplace. Students will gain an understanding of cash flow needs through balancing income against expenditure and will also gain an appreciation of financial products for savings and the key features of interest and charges on borrowing. Students will understand their key responsibilities in terms of earning, income tax, National Insurance and other personal financial considerations depending on the stage of their life cycle whilst also gaining 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 in the Medium and Long Term - Unit 2 builds upon Unit 1 and highlights the importance of planning for medium- and long-term financial needs, with particular reference to the importance of the need to budget for future aspirations and life events. It introduces students to the features of risks and reward in managing personal finances and the impact of foreseen and unforeseen influences on financial budgeting. Students will consider the changing priorities as individuals progress through the personal life cycle and the role of financial services in assisting lifelong financial planning. Students will understand the features of different types of financial services product, how to make informed choices about these products, and when, where and how they can get financial help and advice whilst gaining an appreciation of financial products for investment and borrowing.


How will it be delivered?

Each unit is assessed through:

• Part A - 45 minute multiple-choice questions - 35 questions.

• Part B - 1 hour 45 minute pre-release case study requiring essay responses to 5 questions.

To pass a unit, students must achieve the minimum pass mark for both part A and part B.

To pass the qualification, student must pass both units.

Students are allowed one resit attempt for each component of a unit.


Entry requirements

This course will appeal to students who enjoy and want to find out further about finance education. It will also interest those who wish to develop key life skills or gain support for future job and university application.

You do not need to have studied finance before, but you will need to have achieved at least a grade 4 GCSE in both English and Mathematics to take this course.

TO ENSURE YOUR SUBJECT CHOICES FIT INTO THE TIMETABLE PLEASE CLICK ON THE LINK BELOW.  YOU NEED TO BE CHOOSING SUBJECTS IN DIFFERENT BLOCKS TO AVOID ANY CLASHES

https://www.kes.sheffield.sch.uk/s/Y12-Subject-Blocks-2021-22-Version-2.pdf

Your next steps...

Financial Studies provides a comprehensive introduction to personal finance and will develop the knowledge and skills required for you to make informed decisions regarding your own finances.

This qualification provides a platform for progression through further or higher education study within the finance sector and a wide range of other business-related disciplines. The transferable skills gained are also valuable for further study in unrelated disciplines. This qualification carries UCAS points available equivalent to 0.5 A Level.

Key skills developed during the course will support you if you choose to move straight into employment.