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Qualifications and awards for personal finance

Qualifications and awards through which learners can have their work in personal finance accredited have grown in recent years. They offer another vehicle that teachers can consider when assembling a full portfolio of approaches to developing financial capability in their students.

Qualifications
The table below lists qualifications that are centred upon personal finance. Qualifications that are accredited by the Qualifications and Curriculum Authority have an accreditation number and are part of the National Qualifications Framework.

They are also listed by this number on the National Database of Accredited Qualifications (NDAQ) which you can find at www.accreditedqualifications.org.uk . This allows you to search for details of all qualifications accredited by QCA.

There are a number of other qualifications that contain units on personal finance but the whole qualification is wider in scope, e.g. qualifications in life skills; personal, social and health education, applied numeracy etc. These can be found by using the sector subject area search on the NDAQ.

Accreditation number Qualification title Level Guided Learning Hours Awarding Body
100/4856/X Award in Financial Literacy (Entry 3) Entry 60 NOCN
100/4857/1 Certificate in Financial Literacy (Entry 3) Entry 90 NOCN
100/6245/2 Certificate in Personal Money Management 1 30 NCFE
100/0657/6 Free-Standing Mathematics Qualification: Managing money 1 60 AQA
100/5820/5 Foundation Certificate in Personal Finance 1 60 ifs School of Finance
100/4854/6 Award in Financial Literacy 1 90 NOCN
100/3558/8 Certificate of Personal Effectiveness (Level 1) 1 120 ASDAN
100/4855/8 Certificate in Financial Literacy 1 120 NOCN
500/1490/0 Diploma in Personal Finance 2 30 IAB
100/0674/6 Free-Standing Mathematics Qualification: Calculating finances 2 60 AQA
100/6413/8 Award in Personal Finance 2 70 BCS
100/5821/7 Intermediate Certificate in Personal Finance 2 90 ifs School of Finance
100/6414/X Certificate in Personal Finance 2 90 BCS
100/6415/1 Diploma in Personal Finance 2 110 BCS
100/3559/X Certificate of Personal Effectiveness (Level 2) 2 120 ASDAN
100/4328/7 Award for Introduction to Investment (Level 3) 3 70 SII
100/3560/6 Certificate of Personal Effectiveness (Level 3) 3 150 ASDAN
100/3360/9 Certificate in Financial Studies 3 150 ifs School of Finance
100/4535/1 Diploma in Financial Studies 3 150 ifs School of Finance
100/3931/4 BTEC National Award in Personal and Business Finance 3 360 EDEXCEL


Awards
Awards are not the same as qualifications. Awards are offered at different levels and schools can use awards to contribute towards a recognised qualification. For example, ASDAN’s Personal Finance Award carries no points as a standalone award. However, if used as the curriculum content of the Certificate of Personal Effectiveness (CoPE) it is a qualification with points on the DCSF Achievement and Attainment Tables. More information is available from specific awarding bodies.

The Network for Accrediting Young People’s Achievement (NfAYPA) lists over 40 non-formal education Award schemes. The non-formal Awards offered by the Network are designed to accredit the skills and competencies of young people, and in many cases the Awards are specifically targeted at ‘hard to reach’ young people. The Awards offer a means of accrediting the achievements that many young people undertake as part of their everyday lives, which can often lead learners to access more formal learning opportunities.

Award title Level Guided Learning Hours Awarding Body
Personal Finance Award Multi level: Entry to Level 3 up to 60 ASDAN
Financial Awareness Youth Achievement Award Multi level: Entry to Level 3 60-120 UK Youth
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