The qualification comprises four modules:
View syllabus by clicking on the links above.
CeFA® has been reviewed and updated to meet the requirements of the Financial Services Skills Council (FSSC). CeFA® is accredited by the Qualifications and Curriculum Authority (QCA), and is incorporated into the National Qualifications Framework at level 3.
Examinations
The first module is assessed by a two-hour, 100 question, multiple choice examination. Both units in the second module and third module* contain 40 MCQ's and two case-studies of five questions each. The fourth module is a two-hour multiple-choice examination, it comprises six case-studies each containing ten questions. These are delivered electronically with results given immediately.
Grading
| Pass |
70% |
| Merit |
80% |
| Distinction |
90% |
Students must achieve a minimum of 70% in each unit. If students don't gain 70% in any unit/s within a module they will have to re-sit.
CeFA Module 1:
UK Financial Regulation syllabus
K Financial Regulation is a broad-based module that focuses upon the purpose and structure of the UK financial services structure. The module is split into two units, focusing on the financial services environment and regulation of the environment respectively.
Covers:
- UK financial services industry structure
- Financial asset classes
- Financial services products
- Financial advice and regular reviews
- Legal concepts
- UK taxation and social security systems
- Inflation, interest rate volatility
- Non tax laws
- FSA regulation
- FSA's conduct of business rules
- Anti-money laundering rules
- Complaints and compensation
- Data Protection Act 1998
CeFA Module 2:
Investments and Risks syllabus
The Investments and Risks module is split into two units focussing upon the principles of investment and investment products.
Covers:
- Macro environment factors
- Taxation
- Investment returns
- Investors risk
- Asset allocation
- Investment planning
- Tax planning strategies, calculation and procedures
- Legal framework for providing advice
- Asset classes
- Product types
- Applying suitable investment product solutions
CeFA Module 3:
Retirement Planning and Protection syllabus
The Retirement Planning and Protection module is split into two units that focuses upon the main aim and strategies of retirement planning and the purpose and scope of financial protection.
Covers:
- Financial protection
- Life assurance
- Income protection policies
- Mortgage related insurance
- Retirement planning
- Tax treatment of pensions
- State pension benefits
- Pension schemes
- Investment of pension funds
- Legislation and taxation
CeFA Module 4:
Assessment of Investment Advice Knowledge syllabus
The final knowledge assessment module requires you to apply the knowledge and understanding of modules one, two and three in order to apply suitable financial solutions within the regulatory and ethical framework.
Covers:
- UK financial services industry, regulation and ethics
- Investments and risk
- Protection
- Retirement planning
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