Personal Finance Awards SCQF levels 4, 5 and 6
The Personal Finance Awards at SCQF levels 4, 5 and 6 will develop knowledge and skills to cope confidently and effectively with the types of financial matters individuals are likely to encounter. From student loans, to pensions, the awards will prepare learners for financial decision making and managing personal finances throughout their lives.
The Awards cover a range of topics, including: calculating and comparing costs; household budgeting; different forms of borrowing; tax and National Insurance; credit cards; bank accounts; exchange rates, interest and inflation rates.
This qualification is available through schools, colleges and training providers. Please note that these awards each comprise of two National Workplace units and they follow a different pricing structure to other SQA products. The full price for each of the Personal Finance awards is £34, made up of two unit fees of £17.00 each. The fees for Personal Finance Awards do not fall within the local authority levy (the fixed charge agreement with local authorities).
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Why deliver this qualification
These awards have a wide potential market. They are open to all learners, regardless of age, academic experience or ability.
To achieve each of these awards, learners must pass two end-of-unit e-assessment tests using SOLAR (SQA's e-assessment system).
The awards can be used to offer a progression pathway to other qualifications and could provide a good grounding for those wishing to follow a career in financial services or related sectors (see Progression).
Who does this qualification suit
The Personal Finance Awards at SCQF level 4, 5 and 6 are suitable for:
- S3-S6 pupils
- school leavers
- college students
- adult returners to education
Access
Entry is at the discretion of the centre.
No prior qualifications or knowledge are required for these qualifications.
Progression
Candidates can progress through the levels of Personal Finance Awards, from level 4 up to level 6. Learners interested in a career in the Financial Services sector could consider progression onto other qualifications such as:
- The Skills for Work Course in Financial Services at SCQF level 5.
- The NPA in Financial Services at SCQF level 6.
Approval
Centres with devolved authority for approval should use their own internal approval process.
Centres without devolved authority must come forward for approval and should contact SQA's Business Development Team for guidance.
How to assess
Awards are not graded. These Awards have two units each and the guidelines concerning assessment are as follows:
- Centres must use the summative assessments available on SOLAR to assess their candidates for the Personal Finance units.
- Candidates must achieve 50% in all tasks to gain a pass in each unit.
- If candidates fail a task or tasks on their first attempt they only need to be re-assessed on those specific tasks. The do not need to complete the whole unit assessment again.
Centres delivering the level 4 and 5 Awards can use the support packs available on the secure website. These packs provide learning and teaching materials for each unit.
Centres delivering the level 6 Award can use the on-screen, interactive, course materials provided on SQA Academy.
There are also practice assessment materials (formative assessments) covering levels 4, 5 and 6, available on SOLAR to prepare learners for their e-assessment tests.
Where can you take this course?
Ushare open learning resources
Qualification content and delivery tools
Information about the qualification(s)
Qualification content and delivery tools
Personal Finance Award (SCQF level 4)
Group Award Code: GM17 44
The Personal Finance Award at SCQF level 4 consists of two mandatory Units (12 SCQF credit points). The Unit titles and codes are:
- Money Management (FC63 04)
- The Principles of Money (FC64 04)
Tutor Support Packs and Learner Study Packs for the level 4 Award are available from the 'Awards' section of the SQA secure website.
Personal Finance Award (SCQF level 5)
Group Award Code: GM7H 45
The Personal Finance Award at SCQF level 5 consists of two mandatory Units (12 SCQF credit points). The Unit titles and codes are:
- Money Management (HN8M 04)
- Understanding Money (HN8L 04)
Tutor Support Packs and Learner Study Packs for the level 45 Award are available from the 'Awards' section of the SQA secure website.
Personal Finance Award (SCQF level 6)
Group Award Code: GT99 46
The Personal Finance Award at SCQF level 6 consists of two mandatory units:
- Money Management (J6WK 46)
- Personal Finance in Action (J6WL 46)
Learning and teaching material for the level 6 award is available on SQA Academy.
Unit information for these qualifications is available on our Unit search
Information about delivery, assessment, quality assurance and support material
News and updates
Updates on levels 4, 5 and 6 (117 KB)