Welcome to FCWE Revision
This site contains interactive revision activities for the LIBF Level 2 Certificate/Award in Financial Education, Unit 3: Financial Capability, Work and Enterprise.
Select a Topic
Topic 1 is live. Topics 2–7 are in development.
Introduction to Financial Capability, Work and Enterprise
Business definitions, objectives, types of ownership, USPs, marketing, and what makes businesses successful
Topic 2Enterprise and Entrepreneurs
Entrepreneurs vs intrapreneurs, enterprise skills, risk and reward, and their importance to the economy
Topic 3Business Banking and Budgeting
Business banking methods, budgets, cash-flow forecasts, and financial planning tools
Topic 4How Fraud, Theft and Taxation Affect Business
Types of fraud and theft, their costs, taxation on businesses, and tax planning vs avoidance vs evasion
Topic 5People and Business
Work ethic, employee impact on productivity and reputation, motivation theories, and how businesses reward individuals
Topic 6How Businesses Affect Society
Business ethics, fair trading, Fairtrade, environmental impact, corporate tax avoidance, and pressure groups
Topic 7How People's Economic Choices Affect Society
Consumer choices, globalisation, local communities, changing work patterns, and the impact on tax revenues
Learning Outcomes
Unit 3 covers these seven learning outcomes:
| LO | Description | Topics |
|---|---|---|
| LO1 | Understand key factors in business success | 1 |
| LO2 | Recognise characteristics of a successful entrepreneur | 2 |
| LO3 | Understand how a business manages its money | 3, 4 |
| LO4 | Understand the impact of an individual on a business | 5 |
| LO5 | Understand the impact of a business on an individual | 5 |
| LO6 | Understand how business decisions impact on society | 6 |
| LO7 | Understand the impact of individual choices on society | 7 |
About the Exam
45 minutes
35 multiple choice
20 standalone + 5 case studies (3 Qs each)
Approximately 50%