Field Core Generic
Review of Financial Capability unit standards
|
Subfield |
Domain |
ID |
|
Core Generic |
Financial Capability |
24695, 24697, 24705, 24709, 28087-28101, 28103, 28104, 29558 |
NZQA National Qualifications Services (NQS) has completed the review of the unit standards listed above.
Date new versions published January 2026
Planned review date December 2030
Summary
Unit standards in the Financial Capability domain were reviewed as part of NQS’s regular review cycle.
Informed by the NZQA National Assessment Advisor, Te Ara Ahunga Ora Retirement Commission, the Young Enterprise Trust and the Ministry of Education, NQS consulted with key sector stakeholders in May and September 2025. Feedback received confirmed that the unit standards are current and fit for purpose. The overall outcomes of the 22 unit standards listed above remain the same, with no change in five unit standards (24697, 24705, 24709, 28091, and 29558).
Main changes
· Sixteen unit standards were amended to update legislation and resource references, and addition of a new reference to Sorted in Schools resources.
· Minor amendments were made unit standard 28097, adding two-factor authentication (2FA), and biometric ID to the definition of Security, and scam and fraud protection, crypto currency transactions to the range of banking products and/or services in performance criterion 1.1.
Detailed list of unit standards – classification, title, level, and credits
|
Key to review category |
|
|
A |
Dates changed, but no other changes are made - the new version of the standard carries the same ID and a new version number |
|
B |
Changes made, but the overall outcome remains the same - the new version of the standard carries the same ID and a new version number |
|
C |
Major changes that necessitate the registration of a replacement standard with a new ID |
|
D |
Standard will expire and not be replaced |
Core Generic > Core Generic > Financial Capability
|
ID |
Title |
Level |
Credit |
Review Category |
|
24695 |
Explain taxation and other deductions relating to personal income |
2 |
2 |
B |
|
24697 |
Perform income-related calculations for personal finances |
1 |
2 |
B |
|
24705 |
Interpret and confirm accuracy of personal financial documents |
1 |
2 |
B |
|
24709 |
Produce a budget to manage personal finances |
1 |
3 |
B |
|
28087 |
Demonstrate knowledge of the effect of life stages on personal income |
1 |
3 |
B |
|
28088 |
Describe credit and debt and their impacts on personal finances |
1 |
3 |
B |
|
28089 |
Demonstrate knowledge of personal financial goal setting |
1 |
3 |
B |
|
28090 |
Demonstrate knowledge of selected personal financial saving and investment options that provide financial benefits |
1 |
3 |
B |
|
28091 |
Describe risks and select risk management strategies for personal finances |
1 |
3 |
B |
|
28092 |
Explain the effect of significant life events on personal income at different life stages |
2 |
3 |
B |
|
28093 |
Describe tertiary study funding options and potential financial consequences for future choices and responsibilities |
2 |
3 |
B |
|
28094 |
Produce a household budget, set a financial goal and review and adjust the budget to achieve the goal |
2 |
3 |
B |
|
28095 |
Explain personal financial savings and investment options |
2 |
3 |
B |
|
28096 |
Explain insurance products as financial risk management strategies for personal finances |
2 |
3 |
B |
|
28097 |
Explain and select banking products and services in relation to personal finances |
2 |
3 |
B |
|
28098 |
Evaluate options to increase personal income |
3 |
3 |
B |
|
28099 |
Evaluate credit options and select debt management strategies to manage personal finances |
3 |
3 |
B |
|
28100 |
Develop a plan to show how a budget contributes to achieving a long-term personal financial goal |
3 |
4 |
B |
|
28101 |
Evaluate savings and investment options and make a plan to create a long-term personal investment portfolio |
3 |
4 |
B |
|
28103 |
Analyse and select personal financing options for purchasing a property |
3 |
4 |
B |
|
28104 |
Analyse external risk factors and select strategies to manage their impact on personal finances |
3 |
3 |
B |
|
29558 |
Demonstrate knowledge of personal credit history |
1 |
3 |
B |