Qualifications and standards

Understanding the NZQF
Qualifications
Developing qualifications at Levels 1-6 on the NZQF
Standards
- - Unit standard reviews and developments
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  - - Unit standards for Foundation and Bridging
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  - - Financial Capability
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- - Changes to unit standards
- - NZQA unit standard resources
Awards
Results

Financial Capability unit standards

Current

July 2021 – Review of Financial Capability unit standards

In July 2020 a review panel comprising of representatives from secondary schools, Te Ara Ahunga Ora Retirement Commission, the Young Enterprise Trust and the Skills Organisation was convened to review the standards.

The panel identified the need to streamline the matrix and ensure all standards were providing fair and consistent performance criteria. National consultation on the draft standards was conducted throughout September and October 2020 via the NZQA website.

Main changes

The main changes, in addition to amended titles and credits include:

updating legislation and guidance information expiring US24699 and US28102 9 (due to low usage and outcomes overlapping with other related standards).
replacing the current Level 3 unit standard 28101 with a new single outcome standard and providing graded achievement criteria. Unit standard 28101 is proposed to expire.
consolidating the matrix “themes” down from six to five; Managing money, Setting goals, Credit and debt, Saving and investing, Insurance and risk.

Details are available in the September 2021 Review of Financial Capability unit standards change report

The next review of Financial Capability unit standards is scheduled for 2025.

Resources and links

NZQA free online assessor support resources are accessible on NZQA’s Learning Management System, Pūtake, via the Education Sector Logon and includes Transforming Assessment Praxis – How to modify existing resources, explore diverse ways of collecting evidence and practical, research-based ideas and resources.

The following resources were developed to support the previous versions of the Financial Capability Unit Standards. Assessors will need to modify activities and tasks to align with the new versions. Updates of these resources will be produced in due course.

Contact

For more information and/or comments regarding these unit standards, please email: nqs@nzqa.govt.nz.