IFS Level 2 Award in Personal Financial Planning
Qualification summary
The ifs School of Finance programme in Personal Financial Planning at Level 2 has been designed to facilitate the development of individuals into becoming confident and informed consumers in the financial services marketplace.
In today’s complex and ever changing world, being able to manage and plan one’s personal finances in order to achieve personal needs, wants and aspirations, both in the short and the long-term, is a key life skill.
Given the fundamental role of financial tools within modern society, poor or ineffective management of personal finances can easily result in opportunities being missed as one goes through life; at worst financial mismanagement and uninformed personal financial planning can lead to significant hardship or have other disastrous consequences.
In addressing this key life skill, the programme in Personal Financial Planning recognises that the needs of individuals are many and varied. Financial situations and therefore financial plans vary not only from person to person, but also for an individual as they progress through life and their circumstances change.
The overall programme in Personal Financial Planning is therefore designed flexibly around a core unit, which introduces the key concepts that underpin all aspects pf personal financial planning. In addition, the programme offers a number of option units covering a variety of topical areas in personal financial planning across the range of the personal lifecycle.
On completion of this programme students will be able to:
· Make basic financial planning decisions.
· Understand the process of seeking advice from relevant parties.
· Understand the key aspects of financial planning and financial planning products.
· Make basic value judgements as to the suitability of certain financial products.
Qualification details
VRQ - Vocationally-Related Qualification
Accreditation start date:
Operational start date in centres:
In terms of general qualifications, there would be a natural progression to the ifs' Level 3 awards, the Certificate and Diploma in Financial Studies (QANs 100/3360/9 and 100/4535/1).
In terms of specific vocational qualifications, there would be a natural progression to the ifs' Level 3 awards both in the in the area of Financial Planning:
i.e. the Certificate for Financial Advisors (QAN 100/3779/2)
and in the area of Mortgage Advice:
i.e. the Certificate in Mortgage Advice and Practice (QAN 100/3778/0) and Certificate in Lifetime Mortgages (QAN 100/4859/5).
The programme would also provide useful underpinning knowledge for a number of vocational awards. Whilst not exclusively designed as a qualification for onward progression to employment, there can be no doubt that the financial confidence gained in terms of planning finances will prove exceptionally useful in a wide variety of employment situations.
No specific job occupation
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14 Preparation for Life and Work
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14.1
Foundations for Learning and Life
Multiple Choice Examination
The core unit is assessed by a multiple choice examination that covers the knowledge base and the stated learning outcomes of that unit.
Programme Structure
The Award in Personal Financial Planning consists of one mandatory (core) unit.