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Course Description

The Technical Certificate in Finance is a vocational qualification for learners who wish to learn more about financial services, financial products and their application, and finance in business.

The qualification provides an enriching and detailed introduction to the world of finance, relating to real-life application while ensuring learning is assessed in a practical and applied manner.

There are over 1.3 million people employed within the financial services sector.  Through consultation with financial services employers, including large organisations such as HSBC and Principality Building Society, they support the need for a financial qualification aimed at 14-16 year olds to gain skills and understanding of the sector to develop future employment opportunities.

The UK remains the world’s leading net exporter of financial services, generating an industry trade surplus of £68bn.  Future entrepreneurs and business owners need to understand their financial situation and how to adapt to financial change.

Student Quotes

How will I be assessed?

The course is made up of three units:

  • Unit 1 Finance for the Individual will be a non-exam assessment that is externally assessed and worth 25% of the final grade. Learners will need to apply their knowledge and skills to a ‘real-life’ scenario and provide financial solutions to those situations.
  • Unit 2 Finance in Business will be a non-exam assessment that is externally assessed and worth 25% of the final grade. Learners will need to apply their knowledge and skills to a ‘real-life’ scenario and provide financial solutions to those situations.
  • Unit 3 Financial Services Sector will be an externally assessed exam and worth 50% of the final grade. This is a synoptic unit which draws on knowledge and understanding from unit 1 and 2.

What will I learn?

Unit

Content

Unit 1 Finance for the Individual

  • Describe how budgeting can help an individual achieve their financial goals.
  • Understand the fundamentals of banking.
  • Compare the different types of lending providers and their borrowing products.
  • Compare the different types of savings providers and their savings products.
  • Investigate the different types of investment providers and their investment products.
  • Explain why we have insurance and explain the insurance types and providers available.
  • Investigate the similarities and differences between the different stages of the personal life cycle.
  • Explain taxation, NI and HMRC documentation for the individual and explain how these have developed digitally.

Unit 2 Finance in Business

  • Compare the different types of business models.
  • Explain the benefits and drawbacks of being a sustainable business and an ethical business.
  • Explain the impact of external factors and changes on businesses.
  • Understand how a business attracts and retains customers.
  • Investigate how businesses deal with foreign exchange when importing and exporting.
  • Explain how a business manages its finances.
  • Explain how a business contributes to the economy.
  • Appraise how good/poor individual financial choices affect spending, businesses and the economy.
  • Understand business taxation.

Unit 3 Financial Services Sector

  • Understand the different financial careers available with financial services providers.
  • Distinguish the purpose of the different regulatory bodies.
  • Describe government policies that influence financial services providers.
  • Explain how a financial services provider manages its finances and ensures sustainability through Environmental, Social and corporate Governance (ESG).
  • Understand what is meant by ‘fintech’ and the impact of how recent technological developments are changing how financial services providers work, including the implications on financial security.
  • Understand the history of the financial crisis of 2008 in the UK, how a recession affects financial services providers and what has been learned from both events.
  • Explain the global issues that may affect decisions made by financial services providers in the UK.

What could I do next?

This qualification will enable you to progress into further and higher education opportunities and it can also prepare you for employment opportunities not only in the financial services industry but also preparing your knowledge financially for business start up.