LIBF Financial Ability Assessment and Challenge

The London Institute of Banking & Finance (LIBF)

Established in 1879, The London Institute of Banking & Finance has been providing industry-leading education for more than 140 years.

LIBF focuses on lifelong learning: equipping individuals with the knowledge, skills and qualifications to be successful throughout their careers and in life.

It provides undergraduate and postgraduate degrees for students aiming to pursue careers in business and finance, and accredited professional qualifications for people working in the finance sector.

Their Lessons in Financial Education (LiFE) course, is a core part of this competition programme.

FINANCIAL ABILITY

Assessment and Challenge

Financial Ability Assessment and Challenge is a combination of an LIBF financial capability qualification (Lessons in Financial Education, LiFE) and a stock market challenge.

The LIBF qualification is accredited by the UK’s Office of Qualifications and Examinations Regulation (Ofqual), to focus on lifelong learning; equipping individuals with the knowledge, skills and qualifications to achieve what they want throughout their career and life. In preliminary round, the challenge is separated into junior and senior division. Participants will also have the opportunity to simulate trading in the stock market and act as asset management companies to deal with millions of dollars. The participants compete in Preliminary Round to qualify for the National Round.

The preliminary round is divided into 2 parts: Financial Ability Assessment and Stock Exchange Challenge. Those with excellent grades will receive an authoritative financial capability certificates and get access to the National Round.

Financial Knowledge

Improve on investment and financial thinking

Stock Market Simulation

Develop ability in risk analysis

Finance Management

Beneficial for univerity application in finance-related major

Fund Security

High school version of "CFA Challenge", authoritative certificate

Preliminary Round

Date:
6th April, 2024 (Offline Exam Registration Deadline: 23rd March 2024; Online Exam Registration Deadline: 30th March 2024)
Division: Junior / Senior
Format: Individual
Consists：

Financial Ability Assessment
Stock Exchange Challenge
Exam Mode: Online / offline
Preparation：Online Courses
- Learning Hours：48 Hours
- Content：
  - - Unit 1—Your Personal Finance：Money, Sources of money, Storing money safely, Spending and budgeting, Saving and selling, Borrowing, What is insurance, How do we keep our money safe?
    - Unit 2—Money management for your generation：Modern banking, Pay and pay calculations, Types of payment card, The cost of borrowing, Using money abroad, Financial difficulties and their consequences , Financial advice and protection
    - Unit 3—Your future, your career：The financial services industry, Routes into financial careers, Roles and career paths, Planning your career
  *Students will receive the academic material one week in advance

Refund Policy：The account for the online courses will be registered for the students after payment. No refund will be given after the course registration is made.

Competition Content:

Part 1: Financial Ability Assessment

Participants：Junior, senior
Language：English
Written Test：105 minutes
Content：
Your personal finances: 30 stand-along multiple-choice questions
Money management for your generation: 35 stand-along multiple-choice questions
Your future, your career: 35 stand-along multiple-choice questions
Grading：One point for each question, no deductions will be made for any incorrect answer
Qualification Benchmark : A minimum score of 15 points in Unit 1; 10 points in Unit 2; 10 points in Unit 3
LiBF LiFE Certificate: Participants who achieve the qualification benchmarck (Certified by the British Council of qualifications and courses).

Part 2: Stock Exchange Challenge (junior and senior)

Language：English system with stock exchange introduction in Chinese
Duation： 240 minutes
Content：
Round 1：Allocation plan for the asset of 100,000 dollars
Round 2 & 3：2 operation rounds
Students will have to adjust their investment portfolio according to the simulation Round 4：Live personal behavior analysis report and feedbacks from instructors

Agenda:

Time	Content
10:00-11:45	Financial Ability Assessment
11:45-14:00	Rest
14:00-14:40	Training on investment
14:40-15:00	Test round
15:00-17:45	Four operation rounds
17:45-18:00	Instructor's conclusion

*Subject to Change.

Awards:

Financial Ability Assessment	Stock Exchange Challenge
High Distinction：Top 10%	High Distinction：Top 10%
Distinction：Top 20%	Distinction：Top 20%
Credit：Top 35%	Credit：Top 35%
Prize Award: Full scores
LIBF LiFE Certificate: Qualifiers to National Round

*Award winners and LiFE obtainers are qualified for National Round.

National Round

Date：

July 2024 (5 days)
Location：Shanghai
Format：Individual competition and team competition
Participants：Students who have received award in the Preliminary Round. Students need to be in a team of 4 to participate, individual participants will be assigned to a group by the organizing committee.
Numbers per team：3-4 Students
Registration：Qualifiers will receive an invitation for National Round
Language：English

LIBF Financial Ability Assessment and Challenge National Finals will be held as the Special Committee under ALLSTAR, the conference will also have additional sessions such as VIP Business Keynote Speaker, Economic Lecture and special social event, more details please refer to official website：2024 ALLSTAR

Award percentage：50%
Content：

Agenda

	Morning	Afternoon	Evening
D1	Registration, Opening Ceremony	Ice Breaking, Rules introduction	Preparation Night
D2	Debut of the Gods: Financial Quiz Bowl	Myths of Creation: Financial Case Analysis	Prophet's advice: Talent Show
D3	Pandora's Box: Stock Exchange Challenge I	The Trojan Horse: Stock Exchange Challenge II	Social Night
D4	The New Golden Age: Financial Ability Assessment	Battle of Olympus: Financial Challenge	Closing Ceremony

*The agenda might be adjusted according to the actual circumstance.

Budgeting Skill

Communication Skill

Preliminary Budgeting

Comprehension Ability

Data Processing Skill

Information Analysis

Learning hours：48 h
Content：

Unit 1 - Your personal finance：Money, Sources of money, Storing money safely, Spending and budgeting, Saving and selling, Borrowing, What is insurance, How do we keep our money safe?
Unit 2 - Money management for your generation：Modern banking, Pay and pay calculations, Types of payment card, The cost of borrowing, Using money abroad, Financial difficulties and their consequences , Financial advice and protection.
Unit 3 - Your future, your career：The financial services industry, Routes into financial careers, Roles and career paths, Planning your career.

* You have the chance to watch the learning material repeatedly.

Xiaoyu Zhang

Amplify Trading China Director

China director of Amplify Trading, with 7 years of experience in international financial market trading and training, has worked as a stock / index derivatives trader in Morgan Stanley's London headquarters.

ASDAN China, working with The London Institute of Banking & Finance (LIBF)

Financial Ability Assessment and Challenge

Well-designed online courses to help improve financial thinking

Financial Ability Assessment provided to review and learn in online courses

Stock Simulation to develop ability in risk analysis

Compete in Preliminary Round to qualify for National Final

LIBF certificate beneficial for university application and career development

Introduction

The London Institute of Banking & Finance (LIBF)

FINANCIAL ABILITY

Assessment and Challenge