Welcome to the Personal Finance - Level 6
Learner Study Dashboard,
Introduction
This
pack is designed for learners studying the Level 6 Personal Finance Award. The
Award is made up of two units:
1. Money Management
2. Personal Finance in Action
To
gain the Award learners must achieve both units.
Once
learners have studied the content of the units, they will sit their final
assessments via SQA’s on screen assessment system (SOLAR).
This
pack is intended to help learners become familiar with the terms used in
financial products and services and understand more about how they work and
what they are used for before they sit their final assessment. Questions
included in the final assessment will draw from the content of units one and
two.
Learners
can use the explanations and descriptions given within this pack as a starting
point for further investigation into the various topics covered, or they can
use it as a reminder of the various topics covered.
PLEASE
NOTE
Where terms are defined in this document by
giving examples of specific values that might apply, the values given are
usually based on 2021-22 rates. For example: VAT; Income Tax Bands; Land and
Buildings Transaction Tax rates; ISA savings limit; Capital Gains Tax
threshold; etc. Learners must be aware that the government has the authority to
increase or decrease tax and threshold rates each year depending on inflation
and other economic, societal or political factors.
