Personal Finance Award at SCQF level 4 & 5

Personal Finance Award at SCQF level 4 & 5

The Personal Finance Awards at SCQF level 4 & 5 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.

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 (see Progression).

Who does this qualification suit

The Personal Finance Awards at SCQF level 4 and 5 are suitable for:

  • S3–S6 pupils
  • school leavers
  • college students
  • adult returners to education

Access

Entry is at the discretion of the centre. 

Progression

The awards can provide progression to:

  • The Personal Finance Award at SCQF level 5.
  • 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 the 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 can use the support packs available on the secure website. These packs provide learning and teaching activities for each unit. There are also practice assessment materials available on SOLAR to prepare learners for their e-assessment tests.

Where can you take this course?

Qualification content and delivery tools

Information about the qualification(s)

Qualification Structure

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)

 

Personal Finance Award (SCQF level 5)

Group Award Code: GM7H 45

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 (HN8M 04)
  • Understanding Money (HN8L 04)

Unit(s) and delivery tools

Personal Finance Award (SCQF level 4)

  • Money Management - FC63 04
  • The Principles of Money-  FC64 04

SQA support packs are available for both Units.


Personal Finance Award (SCQF level 5)

  • Money Management - HN8M 04
  • Understanding Money - HN8L 04

Tutor Support Packs and Learner Workbooks for the level 5 Award are available from the ‘Awards’ section of the SQA secure website.


Find these units in our NQ Unit Search

 

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Lifeskills created with Barclays

Lifeskills, created with Barclays, is a free curriculum-linked programme, developed with teachers, to help improve the skills and employability in the UK.