An understanding of financial service activity in the economy, and an appreciation of how finance theory and evidence can be employed to interpret these services (for example, information asymmetry, adverse selection and moral hazard could be employed to analyse the fundamental nature of services, such as insurance, pensions, bank lending and consumer credit, and also explore fundamental problems arising in such financial service provision. Efficient market hypothesis could be used to explore evidence for fund manager performance and the effectiveness of equity and bond saving services
| Cognitive skills Analysis, judgement, attention to detail |
Generic competencies |
| Personal capabilities Decisiveness, initiative |
Technical ability |
| Business awareness Process operation, financial awareness, commercial awareness |
Practical elements Professional expertise |
An ability to understand financial statements, and a basic appreciation of the limitations of financial reporting practices and procedures (e.g. financial statement analysis; the relation between cash flow accounting and accrual accounting; discretionary accounting practices; and the nature of accounting measures of financial performance)
| Cognitive skills Analysis, judgement, attention to detail |
Generic competencies |
| Personal capabilities Decisiveness, initiative |
Technical ability |
| Business awareness Process operation, financial awareness, commercial awareness |
Practical elements Professional expertise |
Capacity for the critical evaluation of arguments and evidence
| Cognitive skills Analysis, judgement, attention to detail |
Generic competencies Listening, questioning |
| Personal capabilities Decisiveness, creativity, initiative |
Technical ability |
| Business awareness | Practical elements Professional expertise |
Ability to analyse and draw reasoned conclusions concerning structured and, to a more limited extent, unstructured problems from a given set of data and from data which must be acquired by the student
| Cognitive skills Analysis, judgement, attention to detail, planning and organising |
Generic competencies |
| Personal capabilities Decisiveness, initiative, achievement orientation |
Technical ability |
| Business awareness | Practical elements |
Ability to locate, extract and analyse data from multiple sources, including the acknowledgement and referencing of sources
| Cognitive skills Analysis, judgement, attention to detail, planning and organising |
Generic competencies |
| Personal capabilities Decisiveness, initiative, achievement orientation |
Technical ability |
| Business awareness | Practical elements |
Numeracy skills including the ability to manipulate financial and other numerical data and to appreciate statistical concepts at an appropriate level
| Cognitive skills Analysis, judgement, attention to detail, planning and organising |
Generic competencies |
| Personal capabilities | Technical ability |
| Business awareness Financial awareness, commercial awareness |
Practical elements Professional expertise |
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