The Diploma in Financial Studies (Dip FS) follows on from the ifs level 3 Certificate in Financial Studies (CeFS) and applies what you have learnt to the broader financial environment. The financial planning element, introduced in CeFS, is explored further as you become more aware of the (financial) environment within which you live. You will learn how to manage your money effectively and about financial products such as credit cards, loans, mortgages and pensions. This is a very topical course providing you with an awareness of important issues such as debt and debt management. It offers a progression to a Diploma which is equivalent to a full A level.
Semester 1 - Certificate in Financial Studies
Unit 1: Why Money Matters
Unit 2: Risk and Reward
Unit 3: Making Judgements
This will enable you to:
• Appreciate the benefits that can be derived from financial services products and how these can contribute to achieving your personal aspirations
• Understand the concept of ‘money’ in all its forms, and how its value is subject to time and circumstance
• Develop an awareness of risk and regard, and the obligations associated with different financial solutions
• Understand the scope of the financial services industry and how it impacts upon the individual
• Appreciate how different external factors impact upon the individual directly, and indirectly.
Semester 2 - Diploma in Financial Studies
Unit 1: Financing the Future
Unit 2: Financial Services – The Providers’ Perspective
Unit 3: Enhancing Financial Capacity
This will enable you to:
• Understand financial product types and mixes available to the individual and assess their suitability and affordability to support a personal financial plan
• Understand the wider financial environment, its key impacting factors and its application to a variety of different groups of people from a variety of cultures and at different stages in their life-cycle
• Appreciate a financial provider’s perspective and how they develop products to suit different customer groups and be able to analyse this approach
• Develop an in-depth understanding of financial products, how they will suit different individuals and how providers retain and attract customers to them
• Appreciate the factors that will influence and change the financial marketplace and be able to explain the benefits of an efficient and effective financial services industry
Students must successfully complete the Certificate in Financial Studies before they begin the Diploma in Financial Studies.
For entry to the Diploma in Financial Studies (DipFS), you must have studied and achieved a Pass in the Certificate in Financial Studies (CeFS).
You should be aware that the level of achievement required to obtain the Diploma in Financial Studies (DipFS) is equivalent to that of GCE level/ A2 Level qualifications.
You need to be satisfied of your ability to study, in English, at this level.
You will be provided with numerous support materials including:
• Specialist Business/Finance qualified teaching staff
• Online access to learning materials, my ifslearning and ifs Knowledgebank (virtual library)
• Online activities to help consolidate their learning
• Unit syllabuses
• Worksheets for each Unit
• Revision guide
• Specimen papers
• Feedback on objective tests
The qualification will enable you to make informed and confident decisions regarding your finances. It will help you to become a responsible borrower, a sensible saver and have an appreciation of the need for financial planning throughout your life.
This course is particularly useful if you are interested in working in the financial services industry. However, it is also of benefit if you want to go to university or just want to take control of your own financial situation. The qualification is equivalent to an A2 and, as such, attracts the same UCAS points.
This qualification can provide a route to Higher Education and to a career in financial services. Together the Certificate in Financial Studies (CeFS) and the Diploma in Financial Studies (DipFS) can provide up to 120 UCAS points.
You should also expect to use:
• Business books to help you with your studies
• Computers in classes and to produce your assignments
• The internet to obtain information for your course
• Reference books in the library to research material for your course
• Word-processing and spreadsheets.
For the Certificate and Diploma Units 1 and 2 are examined by multiple choice questions. Unit 3 is a written examination based on an unseen case study.
You must pass all Units to complete the course.
FTF and TPP can be assessed either by a paper-based examination or via the ifs e-test™ electronic testing system. EFC is assessed by a paper-based examination.
Financing the Future (FTF) will be assessed by a single 75-minute objective test and will comprise 42 one-mark questions: seven are stand-alone questions and 35 questions are based on seven case studies each with five associated questions. To pass Financing the Future (FTF), you must achieve at least 21 out of 42 marks.
Financial Services from the Providers' Perspective (TPP) will be assessed by a single 75-minute objective test and will comprise 42 one-mark questions: 21 are stand-alone questions and 21 questions are based on three case studies each with seven associated questions. To pass Financial Services from the Providers' Perspective (TPP), you must achieve at least 21 out of 32 marks.
Enhancing Financial Capability (EFC) is a single paper-based written examination based on pre-released case study material. You will be required to answer 1one question from a choice of two. To pass Enhancing Financial Capability (EFC), students must achieve at least 10 out of 40 marks. Please note that EFC is a paper-based examination and is held on set dates each year.
To achieve the qualification, you will be required to achieve a pass of 50% in both FTF and TPP and 25% in EFC. A minimum of 40% overall is required to pass the qualification. The overall grade bands (out of a total of 124 marks, across the 3 Units) are decided at a grade award meeting held after each Unit 3 examination session.
Awarding Body: IFS
Level: Level 3
Duration: One year full-time
General Enquiries: 01274 433333
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