If you would like more information or would like to change your cookie preferences, please visit our cookies page.
The Certificate for Financial Advisers (CeFA®) is a QCF* Level 3 qualification. For many years, CeFA® has been the qualification of choice for trainee financial advisers as it met the appropriate exam standard to give retail financial advice. However, from January 2013, the regulatory standard for giving financial advice was raised from Level 3 to Level 4, meaning that gaining CeFA® will not meet the FCA standard to become a qualified financial adviser. To achieve this, you will need to gain an appropriate qualification at QCF Level 4 or above. The Level 4 Diploma for Financial Advisers (DipFA®) meets the required standards.
CeFA® can act as a stepping stone towards DipFA®, however the Certificate in Financial Administration and Planning (CeFAP®) qualification has been specifically designed to be a quicker and more cost-effective alternative to CeFA®, providing the necessary industry and product knowledge before attempting DipFA®. CeFAP® also meets the National Occupational Standards for paraplanners.
CeFA® is a UK specific qualification and comprises seven mandatory units within four modules:
Unit 1 – Introduction to the Financial Services Environment
Unit 2 – UK Financial Services and Regulation
Unit 3 – Principles of Investment
Unit 4 – Investment Products
Unit 5 – Financial Protection
Unit 6 – Retirement Planning
Unit 7 – Assessment of Investment Advice Knowledge
CeFA® key facts and benefits:
Upon successful completion of CeFA® you can use the designation 'CeFA' after your name.
Further information relating to the CeFA® can be found in the Qualification Specification. An overview of the qualification for the Certificate for Financial Advisers (CeFA®) Qualification.
To find out more about Ofqual and the Qualifications and Credit Framework (QCF).
Registration fee Includes learning materials and initial examination entry.
£164 - per module*
Examination resit fee
£127 - per module*
£22 - per paper
£27 - per module*
Revision notes bundle
Ask the Expert Online support service
£21 - per quarter
* The fee includes all units contained within the module. Click here to view price updates as from 1st July 2015
CeFA® consists of seven mandatory units contained within four modules:
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.
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.
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.
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.
The UKFR module is assessed by a 2-hour, 100-question, multiple-choice examination split into two units:
Each unit contains 50 multiple-choice questions.
The INVR module is assessed by a 2-hour, 100-question, multiple-choice examination split into two units:
The RTPL module is assessed by a 2-hour, 100-question, multiple-choice examination split into two units:
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.
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:
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.
You can register for CeFA® at any time.
Please call Student and Customer Enquiries on +44 (0) 1227 818609. Please have your VISA/MasterCard/debit card to hand when you call.
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 £72 per annum.
When you have successfully completed CeFA® qualification you are well placed to study for the Diploma for Financial Advisers (DipFA®).
The DipFA® is a high quality, cost-effective, FCA-approved programme that meets the qualification standard required of anyone wishing to work as a financial adviser. The DipFA® is a benchmark qualification that meets the standards required for those giving professional advice on retail investment products.
Additionally, you may consider other Level 4 qualifications such as the Diploma in Mortgage Advice and Practice (DipMAP®) or the Diploma in Retail Banking Conduct of Business (DipRBCB®).
About us Contact us Membership Events
Qualifications Statement of Professional Standing Short Courses and Training CPD
Specialist Banking Conduct Trade Finance Complaints Handling
ifs University College ifs ProShare Financial World Online My Financial Career Financial World Innovation Awards Certified Documentary Credit Specialist (CDCS)
© ifs University College 2015