2. Teaching Personal Finance
SQA Personal Finance Award SCQF Level 4
ifs Certificate in Personal Finance Level 2 (SCQF Level 5)

3. Colin McGugan Principal Teacher: Mathematics & Numeracy
Queen Margaret Academy, Ayr
Involved since 2010 with SQA
Involved in development of assessments for Solar
Involved in development of formative questions for Solar Open Assess

4. Learning Intentions What do we offer? Why is it offered?
Who is it offered to?
How do we deliver it?
Give an overview of the ifs Units
Indicate some useful resources and links

5. What do we offer? SQA Personal Finance Award SCQF Level 4
ifs Certificate in Personal Finance Award Level 2 (SCQF Level 5)

6. Why is it offered? Alternative to National 4 Maths
Additional qualification to National 4 Maths
Qualification for Christmas leavers
Additional qualification for any pupil

7. Who is it offered to?
Any pupil in S5/6

8. How do we deliver it? 6 period a week 50 minute periods
Joint delivery of SQA and ifs courses
Deliver using the ifs Certificate in Personal Finance Award Level 2 (SCQF Level 5) materials

9. Overview of ifs Units
ifs Certificate in Personal Finance Award Level 2 (SCQF Level 5)
Consists of 3 units
Unit 1: Personal Financial Encounters
Unit 2: Money Management Solutions
Unit 3: Personal Financial Management

10. August to November
Unit 1 : Personal Financial Encounters
Understand the features of legal tender.
Understand the sources of money.
Understand the documentation linked to different sources of money.
Be able to carry out pay slip calculations.
Understand different types of bank account.
Understand the various choices available for storing money.
Understand the true costs of spending.
Be able to work out the true cost of spending.
Understand the concept of using money to make money.
Understand the concept of using money abroad.
Be able to work out foreign exchange calculations.

11. December to February
Unit 2: Money Management Solutions
Understand the tools used in managing money.
Understand different types of payment card.
Understand different types of borrowing products.
Be able to work out the cost of borrowing.
Understand the benefits of paying in advance
Understand the issues surrounding the provision of insurance
Understand the purpose of bank statements.
Be able to create a medium-term budget.
Know where to go for different types of financial advice.

12. March to May
Unit 3: Personal Financial Management
Be able to use calculations to make spending choices.
Understand the link between personal financial budgets and spending choices.
Understand the sources of personal financial protection.
Know the consequences associated with spending.
Know the consequences associated with borrowing.

13. How do we teach it?
Deliver using the ifs Certificate in Personal Finance Award Level 2 (SCQF Level 5) materials.
Pupils access ifs website for materials and case studies
Use of ifs printed materials
Role playing scenarios
Use of websites

14. Resources ifs website Download pdfs from SQA www.scotbanks.org.uk

15. Resources Holiday company websites Airline websites
Insurance comparison websites
Youtube clips, Ross Kemp in Glasgow,
The Scheme (needs to be watched first to make
sure content is suitable), The Debt Collector
Existing textbooks

16. Assessment SQA Personal Finance Award SCQF Level 4
Pupils are given practice assessments on SQA’s Solar OpenAssess.
When the pupil is ready they are assessed on Solar.

17. Assessment
ifs Certificate in Personal Finance Award Level 2 (SCQF Level 5)
Pupils are given practice assessments downloaded from ifs website.
These are 20 multiple choice questions with short case study questions at the end
Assess after each unit or at the end of the course
Book written multiple choice exam papers
3 weeks before exam

18. Awards Pupil is awarded a certificate from ifs
This is worth 14 SCQF credit points
This qualification is also recognised
on Insight

19. Next Steps
We hope to deliver the SQA Personal Finance Award SCQF Level 4 to all S1–S3 pupils through the CfE courses currently delivered within the department.