Qualifications Regulations and Policy Forms ifs Regulations for Degree courses

Please note the awards below are no longer available for new students. These regulations are published to inform students who registered to start a programme of study for any of these awards on or before 1 May 2007.

ifs Regulations

These documents detail the ifs Awarding Body policy applying to the following qualifications:

Updated June 2007

This document sets out the requirements for students studying for the above awards.

  1. Introduction
    1. The BSc (Hons) in Financial Services and Associateship is a dual award by the ifs School of Finance (ifs) and The University of Manchester (UoM). Students who registered for the programme before 1 September 2005 may opt to have their degree awarded dually by the School of Finance and The University of Manchester Institute of Technology (UMIST) should they so wish.
    2. The combined professional and academic award was introduced in 1996 and reviewed in 2003.
    3. To achieve the BSc (Hons) in Financial Services and Associateship, students must successfully complete eight modules.
    4. UoM will only award one degree per student.
    5. Successful students will be granted designatory letters BSc (Hons) Aifs.
  2. Eligibility to study for BSc (Hons) in Financial Services and Associateship
    1. Entry requirements
      1. Prospective students must provide evidence that they hold one of the following qualifications:
        1. Associateship of The Chartered Institute of Bankers gained prior to 1997
        2. Associateship of The Chartered Insurance Institute gained after 1st May 2004
        3. a UK (Hons) degree
        4. equivalent qualification to a UK (Hons) degree
        5. the Banking Certificate
        6. the Diploma in Financial Services Management
        7. the Applied Diploma in Corporate Banking
        8. the Professional Diploma in Financial Services Management
        9. the Applied Diploma in Retailing Financial Services
        10. the Applied Diploma in Risk and Insurance Management
        11. passes in all four papers of the Pre Associateship Route (PAR) gained during the relevant period (registrations up to October 1999)
      2. All modules are in English and a sound knowledge and understanding of the language is assumed. Students should be proficient to a minimum of IELTS level 6.5 (or ifs approved equivalent) in terms of their English language ability in order to meet the entry requirements of the programme.
  3. Membership requirements
    1. Students must be members of the ifs for the duration of their studies, ie from the date of registration, through their course of study, for the all assessments and until after the release of results. The membership application form can be found here..
    2. Individuals who achieved the award are entitled to use the designatory letters Aifs only as long as they remain members of the ifs.
  4. Registration with the ifs
    1. There is no restriction on the number of modules students may study at any one time. However, it is strongly recommended that students do not register for more than two modules per study session.
    2. Students registering for more than one module for a study session must check that the modules chosen are not to be examined at conflicting times. The schedules for examination sessions can be found here..
      1. Registration for a course of study must be made before the published deadline. Details of deadlines can be found here.
      2. Applications will not be accepted after the deadline has passed.
    3. Students must check the availability of a module before registering. The current list can be found here. All modules are offered subject to demand and some are only offered once a year. Should a module be withdrawn, students will have the opportunity to register for one final course of study leading to an examination, with a further two re-sit examination sessions thereafter.
  5. Changes to registration
    1. Once a student has begun a course of study, they must either complete it or withdraw from it.
    2. A charge may apply for withdrawing from depending on the timing of the application. The ifs withdrawal policy can be found here.
    3. Changing original registration
      1. The ifs recognises that a change in circumstances can be unavoidable and that students may need to withdraw, cancel or change their original registration.
      2. Whichever scenario is applicable, students must complete the appropriate form and return it to the ifs within the published deadline. The ifs cancellation and withdrawal policy can be found here.
      3. Students cannot defer their examination entry. If they are experiencing difficulties with their course of study, they should immediately inform the ifs who can advise them on their best course of action.
    4. Change of Subject or Tuition Provider
      Students who have registered for a course of study may change the subject they are to study and/or their tuition provider at any time up to and including the last day of the month prior to the month in which their tuition is due to start. To make a change students must contact Student Support and Guidance by telephoning +44 (0) 1227 818631 or email to guidance@ifslearning.ac.uk
  6. Special Educational Needs
    1. Students who have special educational needs eg enlarged print study text/question paper, Braille papers, wheel chair access to examination venue etc. must complete the appropriate section of the registration form or advise the ifs in writing when they become aware of their special need.
    2. Students are required to provide a statement from a medical professional confirming the nature of the special educational need that requires reasonable adjustment to be made for their course of study and/or assessment.
    3. The ifs can only consider a request for special educational needs prior to an assessment.
  7. Registration with UoM
    1. Students wishing to undertake one of the above awards must register with UoM. This application is made via the ifs, not with UoM direct, using this form.
    2. Registration with UoM occurs only once at the start of the programme and will cover the whole period of study with UoM.
    3. Students who have registered with UoM or UMIST for a previous award do not need to register again with UoM or UMIST.
  8. Structure
    1. BSc (Hons)/Associateship
      1. To achieve the award, eight modules must be completed successfully within six years of registering for the BSc (Hons) in Financial Services and Associateship programme. For students who registered:
        1. before April 2003 these comprise five core and three options;
        2. after April 2003 these comprise four core and four options.
      2. It is the responsibility of the individual students to ensure that their choice of core and option modules conforms to the requirements associated with their original registration. Students cannot transfer from the structure at 8.a.i.1. to that at 8.a.i.2.
      3. Students registered to study for the 8.a.i.2. structure programme may pursue a specialist degree by choosing four options from the appropriate stream. (See /qualifications/syllabuses/
        degree_adv_dip/index.cfm         or the current brochure for details.)
      4. It is the student's responsibility to ensure that their choice of module options conforms to the requirements of whichever specialism they intend to study. If a student's module choice does not meet the requirements for a specialism then they cannot graduate with a specialist degree.
    2. Modules
      1. Module content is detailed in the published syllabuses that can be found here.
      2. Some modules include set reading that may take a variety of forms and include items such as journal articles, newspaper reports, book chapters, discussion papers and/or a case study scenario.
      3. It is the student's responsibility to ensure that they have the most up-to-date syllabus and study materials. Each module has a recommended reading list. Students should also remain up-to-date with developments in the industry eg by reading quality newspapers, journals and the financial press.
  9. Credits and Exemptions
    1. Credits
      1. 120 level C credits will be awarded to a student who satisfies the entry requirement of the award.
      2. Each module passed at BSc (Hons) in Financial Services and Associateship level equates to 30 credits.
      3. To achieve the award the student must gain a total of 360 credits.
    2. Exemptions
        Exemptions will be considered in accordance with the ifs School of Finance Code of Practice for Accreditation of Prior Learning.
    3. Transferring passes in Associateship modules to the BSc (Hons) in Financial Services and Associateship
      1. These arrangements apply to students who registered for a BSc (Hons) in Financial Service and Associateship course of study commencing on or before November 2003.
      2. Students with four or fewer passes in Associateship modules gained before the May 1997 examination sitting must pass at least four BSc/Associateship modules within the six-year time limit for the UoM programme to gain a total of eight passes.
      3. There are restrictions on which subjects students with four or fewer Associateship passes need to pass in order to achieve BSc/Associateship:
        1. all students must take the module Marketing (previously Marketing Management or Strategic Marketing Management).
        2. students must pass any outstanding core module.
      4. Students with five, six or seven Associateship passes gained in the examinations before May 1997, also need to pass a further four BSc/Associateship modules.
      5. There are restrictions on which modules members with five, six or seven Associateship passes need to pass in order to achieve BSc/Associateship:
        1. all students must take the module Marketing (previously Marketing Management or Strategic Marketing Management).
        2. students must pass any outstanding core modules.
        3. students may retake modules that they have previously passed, or were exempted from, provided their final examination record shows passes in eight different modules.
      6. Only passes achieved under the BSc (Hons) in Financial Services and Associateship programme will normally be used to determine the final degree classification.
    4. Top-up route
      1. Existing Associates of The Chartered Institute of Bankers or The Chartered Insurance Institute can top up their qualification to the BSc (Hons) in Financial Services by successfully completing the four core modules, adhering to the restrictions and time limits pertaining to the award.
      2. Students undertaking the Top-up route may not claim exemptions.
  10. Tuition and Assessment
    1. Assessment
      1. All modules will be assessed either by an examination or a combination of coursework and examination.
      2. Students must follow a course of study provided by ifs distance learning or at an authorized study centre.
      3. The tuition provider is responsible for the format of the tuition support.
      4. Each module involves a minimum of 300 hours of study (which includes 40 hours of tuition support) in addition to the work-based learning which a student will be undertaking as they reflect upon and apply newly acquired theories to practical, work-related situations.
      5. For modules that are assessed by coursework and examination, the coursework component contributes 30% and the examination component 70% of the overall assessment.
      6. There are two types of coursework assessment:
        1. a single summative coursework assignment submitted at the end of the course of study;
        2. two coursework assignments submitted during the course of study.
    2. Only one type will be used in any given module.
      1. In order to pass any of the coursework assignments students must achieve a 40% pass mark.
      2. In order to pass a module that is assessed by:
        1. an examination only: students must achieve a 40% pass mark on the examination;
        2. an examination and a single Summative Coursework assignment: the student must either pass both the examination and the coursework components or if the student achieves a mark of between 35 and 39 for either component and obtains a good enough mark in the other component they may receive a compensated pass;
        3. an examination and two coursework assignments: students must pass all components. Compensation can apply to the two coursework assignments as described above.
      3. Students who fail either the coursework or examination will have to resit and pass the failed component before a module pass will be awarded.
      4. For modules that include set reading 40% of the examination will be based on the set reading material. For details of examination rubric students should refer to the individual module syllabus.
    3. Coursework regulations
      1. Details pertaining to coursework conduct are found in the latest edition of the Student Handbook.
      2. Any behaviour that is deemed to be inappropriate or in breach of these regulations will be reported to the ifs/UoM and may lead to the coursework attempt being considered invalid.
    4. Examination regulations
      1. Details pertaining to examination conduct can be found here.
      2. Any behaviour that is deemed to be inappropriate or in breach of these regulations will be reported to the ifs/UoM and may lead to an examination attempt being considered invalid and/or exclusion from the programme.
      3. The ifs/UoM does not return either examination scripts or coursework assignments; both remain the property of ifs/UoM.
    5. Results
      1. Results will be issued by First Class post/Airmail or can be accessed via the MyStudies area of the ifs' website by the end of July following the April examination session and end of January following the October examination session.
      2. Results will not be given by telephone, fax or email.
      3. Details pertaining to the calculation of final degree calculations can be found here and in the latest edition of the Student Handbook.
      4. Notification of final degree classifications will be issued by First Class post/Airmail by UoM within 2 weeks of the appropriate Board of Examiners' meeting (normally held at the end of July/January after the April/October examination session).
  11. Remarking of Examination Scripts and Coursework
    1. A request that questions the judgement of any examiner/tutor on a student's academic performance in either their coursework or examination will not be accepted. Requests will be considered in accordance with the ifs School of Finance Code of Practice for Academic Appeals and Student Complaints.
  12. Appeals
    1. Appeals will be considered in accordance with the ifs School of Finance Code of Practice for Academic Appeals and Student Complaints.
  13. Time Limits
    1. Time limit to complete the BSc (Hons) in Financial Services and Associateship
      1. From the date of registering for the BSc (Hons) in Financial Services and Associateship, students have a maximum of six years to complete the programme.
      2. Students who have progressed from the Advanced Diploma must complete both the diploma and the BSc (Hons) in Financial Services and Associateship within six years.
      3. For Top Up students, Associateship passes that were gained prior to the introduction of the BSc (Hons) in Financial Services and Associateship will not be included in the six year time limit.
      4. Students will not be eligible to re-register for the BSc (Hons) in Financial Services and Associateship if they fail to complete within the six-year time limit.
    2. Time out
      1. Students who experience difficulties may, with the agreement of the ifs, take up to one year out during their studies. During this time out, students cannot submit coursework assignments, sit or re-sit an examination.
      2. A year out can be one entire year or two non-consecutive study sessions.
      3. Application should be made to the ifs on the Application form for taking time out of studies which can be found here. The form must accompanied by the appropriate fee.
      4. Membership of the ifs must be maintained during any approved time out.
    3. Extensions to the time limit
        4. Extensions to the maximum six year time limit may be granted in exceptional circumstances. Applications must be submitted to the ifs for consideration before the time limit has expired using the Special Consideration form.
  14. Extenuating Circumstances
    1. Claims for special consideration as a result of students experiencing exceptional circumstances beyond their control will be considered in accordance with the ifs School of Finance Code of Practice for Assessment.
  15. Attempts
    1. Coursework and examination
      1. Students are allowed up to three attempts to pass a module/component.
      2. To be awarded the BSc (Hons) in Financial Services and Associateship all modules/components must be at the first or second attempt. If both the first and second attempts result in Fail A grades, then a third attempt for the award of the honours degree is permitted.
      3. Passing one or more modules at the third attempt results in the award of a pass degree with no honours, ie BSc in Financial Services and Associateship. If a third attempt for the honours degree is permitted in accordance with 15.a.ii and results in a Fail A grade (option modules only), then a fourth attempt for the award of the pass degree is also permitted.
      4. Students may not resit a module in which they have already gained a pass.
      5. v. Any student who registers for a module and, not having previously withdrawn, fails either to sit the examination or submit appropriate coursework, will forfeit an attempt. Exceptions will be made if the student notifies the ifs explaining the reason for missing the examination or submission date of coursework in advance, and this explanation is accepted by the ifs.
      6. A student who fails to complete all modules within three attempts (or four as described in 16.a.ii) is excluded from the BSc (Hons) in Financial Services and Associateship programme and may not continue studying towards the dual award.
      7. Students who either did not sit or failed an examination in May 1997 have had the attempt discounted from their record. As this was the first examination session under the BSc (Hons) in Financial Services and Associateship programme, students whose attempts were discounted also had the commencement of their time limit postponed until the following session, ie October 1997.
      8. A student who is excluded from the programme (as described in 16.a.vi.) may elect to continue studying for an alternative ifs award provided they meet the entry requirements and abide by the Regulations pertaining to that award. Under no circumstances will an excluded student be permitted to rejoin the BSc/Associateship programme.
    2. Registering for a resit
      1. There is a requirement for students to resit and pass any component they have failed before completing a module. It is not necessary to resit at the next available session. However, the resit must be timed to ensure that the overall time limit for completion of the award is not exceeded. Applications for resit should be made using the form here.
      2. It is the student's responsibility to check for any amendments to the syllabus, tuition materials, set reading, regulations and assessment of the module to ensure they are fully up to date before resitting.
      3. Failure by a student to sit or submit appropriate coursework for an examination for which they have entered will count as a failed attempt unless they have the prior approval of the ifs.
      4. From April 2001 students who have failed a core option that has been updated to include coursework may choose to resit the examination only or may register to resit with coursework. Student who have sat and failed a module comprising examination and coursework after April 2001 are only required to resit and pass the previously failed component.
    3. Changing an option module
      1. Students who fail an option examination at their first attempt may register for an alternative module.
      2. Students cannot change to another module after the second attempt.
      3. The attempt regulations (as set out in 15.a.) will apply to the new option module.
  16. Policy Issues
    1. Quality Assurance
      1. Authorised providers of tuition are quality assured by UoM in line with Quality Assurance Agency (QAA) guidelines.
      2. UoM validates coursework assignment questions, examination papers and marking criteria.
    2. Data Protection
        3. The ifs Data Protection policy can be viewed here.
    3. CIB/ifs rights
      1. Every effort is taken to ensure that publications are accurate at the time of going to press but the ifs is not liable for any errors or omissions in its publications.
      2. The ifs reserves the right at any time and without notice:
      3. to vary the content of its courses and syllabuses;
      4. to cancel courses and syllabuses previously announced; and
      5. to modify as it seems appropriate the facilities and arrangements for students.
      6. The ifs further reserves the right to make alterations to published rules and regulations in accordance with guidelines and requirements set by the QAA, FSA, UoM and other external parties, as appropriate.
    4. Equal opportunities
        5. The ifs Equal Opportunities Statement can be found here.
  17. Fees
    1. The following fees may apply and can be found on the website at the address shown:
      1. Membership
      2. Module registration
      3. UoM registration - part of ifs registration form
      4. Credit/exemption
      5. Resit
      6. Withdrawal
      7. Year out
      8. Appeals
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