Overview
The Certificate for Financial Advisers (CeFA®) is a QCF* Level 3 qualification. Achieving the Certificate for Financial Advisers (CeFA®) will enable you to gain a thorough understanding of the principles of good advice and the financial services industry.
CeFA® can act as a stepping stone towards the ifs Level 4 Diploma for Financial Advisers (DipFA®) which is a benchmark qualification that meets the standards required for those giving professional advice on retail investment products beyond 2012.
CeFA® is a UK specific qualification and comprises seven mandatory units within four modules:
Module 1 – UK Financial Regulation
Unit 1 – Introduction to the Financial Services Environment
Unit 2 – UK Financial Services and Regulation
Module 2 – Investments and Risks
Unit 3 – Principles of Investment
Unit 4 – Investment Products
Module 3 – Retirement Planning and Protection
Unit 5 – Financial Protection
Unit 6 – Retirement Planning
Module 4 - Assessment of Investment Advice Knowledge
Unit 7 – Assessment of Investment Advice Knowledge
CeFA® key facts and benefits:
- improves career and promotion prospects and can help prepare you for further professional development
- improves your knowledge of the financial services industry
- develops confidence through increased knowledge and understanding
Upon successful completion of CeFA® you can use the designation ‘CeFA’ after your name.
* Read more about the Qualifications and Credit Framework (QCF).
Download an overview of the qualification (pdf)
Cost
| Registration fee
Includes learning materials and initial examination entry. | £155 - per module* |
| Examination resit fee | £120 - per module* |
| Specimen paper | £20 - per paper |
| Revision notes | £25 - per module* |
| Revision notes bundle | £40 |
| Online tutor support | £20 - per quarter |
As of 1 July 2013 the fees associated with this qualification will increase, as indicated below:
| Registration fee
Includes learning materials and initial examination entry. | £160 - per module* |
| Examination resit fee | £124 - per module* |
| Specimen paper | £21 - per paper |
| Revision notes | £26 - per module* |
| Revision notes bundle | £41 |
| Ask the Expert
Online support service | £21 - per quarter |
* The fee includes all units contained within the module.
Units
CeFA® consists of seven mandatory units contained within four modules:
Module 1 – UK Financial Regulation (UKFR)
Unit 1 – Introduction to the Financial Services Environment (ITFS) L / 501 / 8715
Unit 2 – UK Financial Services and Regulation (UKFS) R / 501 / 8716
UKFR is a broad-based module focusing on the purpose and structure of the UK financial services. The module is split into two units focusing on the financial services environment and regulation of the environment respectively.
View the UKFR aims, learning outcomes and assessment criteria.
Module 2 – Investments and Risks (INVR)
Unit 3 – Principles of Investment (PINV) H / 501 / 8722
Unit 4 – Investment Products (INVP) K / 501 / 8723
The INVR module is split into two units, focusing on taxation, asset allocation and investment planning, and investment products respectively.
View the INVR aims, learning outcomes and assessment criteria.
Module 3 – Retirement Planning and Protection (RTPP)
Unit 5 – Financial Protection (PROT) T / 501 / 8725
Unit 6 – Retirement Planning (RTPL) M / 501 / 8724
The RTPL module is split into two units, focusing on the purpose and scope of Financial Protection and the main aim and strategies of retirement planning respectively.
View the RTPP aims, learning outcomes and assessment criteria.
Module 4 – Assessment of Investment Advice Knowledge (ASSI)
Unit 7 – Assessment of Investment Advice and Knowledge (ASSI)
The ASSI module requires you to apply the knowledge and understanding of Modules 1, 2 and 3 in order to apply suitable financial solutions within the regulatory and ethical framework.
View the ASSI aims, learning outcomes and assessment criteria.
Assessment
Module 1 – UK Financial Regulation (UKFR)
The UKFR module is assessed by a 2-hour, 100-question, multiple-choice examination split into two units:
- Unit 1 – Introduction to the Financial Services Environment (ITFS)
- Unit 2 – UK Financial Services and Regulation (UKFS)
Each unit contains 50 multiple-choice questions.
Module 2 – Investments and Risk (INVR)
The INVR module is assessed by a 2-hour, 100-question, multiple-choice examination split into two units:
- Unit 3 – Principles of Investment (PINV)
- Unit 4 – Investment Products (INVP)
Each unit contains 50 multiple-choice questions.
Module 3 – Retirement Planning and Protection (RTPL)
The RTPL module is assessed by a 2-hour, 100-question, multiple-choice examination split into two units:
- Unit 5 – Financial Protection (PROT)
- Unit 6 – Retirement Planning (RTPL)
Each unit contains 50 multiple-choice questions.
Module 4 – Assessment of Investment Advice Knowledge (ASSI)
- Unit 7 – Assessment of Investment Advice and Knowledge (ASSI)
ASSI is assessed by a 2-hour, 60-question, multiple-choice examination.
All units are tested objectively. You must achieve a minimum of 70% in each unit. If you don't gain 70% in either unit within a module you will have to resit. You only need to resit any failed units. Tests are available at over 150 Pearson VUE test centres nationwide with the result provided on the day.
View information on examination booking and venues.
Studying
It is recommended that you spend 320 learning hours of study time on CeFA®. The complete course is achievable within 12 months.
Students will receive online and printed study resources for each module.
The following additional study support, designed to complement the learning manual, are available to purchase:
- specimen examination papers
- revision notes
- online tutor support
Please note that in order to reflect any changes to syllabuses, including matters arising from the annual Budget, the study materials for some units are updated annually, usually in July. It is your responsibility to ensure you are studying from the latest learning materials. The most up-to-date learning materials, updates and amendments can be found on my ifslearning.
Registration
You can register for CeFA® at any time.
Online - complete the online registration and payment form.
By phone - call Further Education Customer and Student Enquiries on +44 (0) 1227 818609 (option 1). Please have your VISA/MasterCard/debit card to hand when you call.
By post/fax - download and complete the registration form. To view this file you need to have Acrobat Reader installed on your computer. This is free and available from the Adobe website. When you have completed the form either send it to the address stated on the form or fax it to +44 (0) 1227 784331.
Membership
Membership of the Institute of Financial Services provides access to cost-effective and appropriate services that meet the very specific needs of the financial and mortgage adviser community and costs just £66 per annum.