icfe introduction

8/14/2019 ICFE Introduction

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Cambridge InternationalCambridge International

Certificate in FinancialCertificate in Financial

English (ICFE)English (ICFE)

Spare Time Study CentreSpare Time Study Centre


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Cambridge ESOLCommitment to assessment of highest

quality recognition by universities,employers and official bodies throughout

the world

High level support for learners and teachers


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ACCA

The global body for professional accountants

Offer business-relevant qualifications to

people in accountancy, finance and

management


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ICFE is:

A test of language, not financial knowledge

Focused on international finance &

accounting

Based on authentic sources

Available twice a year (May and November)

First exam 12th May 2007


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What is ICFE?

An exam which tests English in a financial and

accounting context

Not a test of finance and accounting, thoughbackground knowledge of the area will affect

how candidates perform

Assesses ability to understand spoken and

written English in realistic, professional contexts


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Who is ICFE for?

Finance and accounting students

Those already employed in or seeking

employment in any finance setting

More senior finance and accounting

professionals who find themselves in a role

requiring them to use English

Will help employers with hiring and training of

personnel


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Why ICFE?

Prestigious partnership: ACCA and Cambridge

ESOL sharing expertise

Viability study showed there is a gap in the

market for a Financial English exam

Cambridge ESOL meeting demand for exams inmore specialised areas


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Financial English v. General English

Differences:

Technical vocabulary

e.g. accrual, debenture, liquidity

(Cross-discipline) technical

vocabulary

e.g. reconciliation, security

Semi-technical vocabulary

e.g. on the basis of, by means of,

as regards, to this end

Similarities:

syntax (grammar)

vocabulary

skills


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ICFE topics Accountancy software

Accounting standards

Assets and company valuations Auditing

Banking

Budgetary processes

Buying

Company financial strategy

Data analysis Debt recovery / credit policy / payment collection

Economic factors / conditions / forecasts in certain markets

Financial reporting (e.g. annual reports, company financial background,

mergers and acquisitions)

Insurance

Professional ethics and ethical standards in accounting Risk assessment / analysis

Financial aspects of setting up a company / drawing up a business plan

Stock market

Corporate governance


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ICFE :Test Content

Paper Timing Number of parts

Reading

Writing

Listening

Speaking

1 hour 15 minutes 6

1 hour 15 minutes 2

40 minutes (approx) 4

16 minutes 4


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Receptive Skills

1. Reading a range of finance-related

texts and accompanying tasks (54 questions)

Use of English (Part 1-3): testknowledge and control of

the language system (one mark per question)

lexical focus e.g. collocation, linking words, grammatical

focus e.g. articles, pronouns

Reading (Part 4-6) : test understanding of the meaning of

written English at word phrase, sentence and paragraphlevel (two marks per question)

understanding text structure, reading for gist, detail,

opinion and referencing


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The six parts of the Test of Reading

Parts 1 Multiple-Choice Cloze (12 questions)

An emphasis on vocabulary and linking

words/phrases

Part 2 - Open Cloze (12 questions)

An emphasis on structure

Part 3 Word formation (12 questions)

An emphasis on vocabulary


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Part 4 Multiple-Matching (6 questions)

Test general understanding of a text and the ability to

locate specific information within it

Part 5 Gapped Text (6 questions)

Test the understanding of how texts are structured and

the ability to follow detailed meaning and argument of a

text

Part 6 Multiple-Choice (6 questions)

Test the detailed understanding of a text, including the

opinions expressed in it


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Receptive Skill2. Listening

Part Task type Text type

1 Multiple-choice questions three short recordings

2 Multiple-choice questions one long discussion

3 Sentence completion one long monologue

4 Multiple matching five short monologues

40 minutes 30 questions : one mark per question

Each part of the test will be heard twice


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The four parts of the Test of ListeningThe four parts of the Test of Listening

Part 1 Multiple Choice (6 questions)Part 1 Multiple Choice (6 questions)

Understanding gist, detail, function, purpose,Understanding gist, detail, function, purpose,

topic attitude, feeling, opinion, inferencetopic attitude, feeling, opinion, inference

Part 2 Multiple-Choice (5 questions)Part 2 Multiple-Choice (5 questions)

Understanding gist, specific information,Understanding gist, specific information,

opinion, attitude, agreement and disagreementopinion, attitude, agreement and disagreement


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Part 3 - Sentence Completion (9 questions)Part 3 - Sentence Completion (9 questions)

Following the main points and retrievingFollowing the main points and retrievingspecific information from the textspecific information from the text

Part 4 Multiple-Matching (10 questionsPart 4 Multiple-Matching (10 questions))Identifying the gist and main points of aIdentifying the gist and main points of a

number of short texts on a theme bynumber of short texts on a theme by

identifying context, speakers, topics,identifying context, speakers, topics,

functions, attitude and opinionfunctions, attitude and opinion


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Productive Skills

1.WritingThe paper consists of two financed-related tasks in

response to stimuli provided and for a given purpose and

target reader

Part 1 Letter Part 2 Report

40% of total marks 60% of total marks

120-180 words 200-250 words Compulsory task Compulsory task


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The two parts of the Test of WritingThe two parts of the Test of Writing

Part 1Part 1

A letter test the ability to produce a letter inA letter test the ability to produce a letter in

response to an input textresponse to an input text

Required to produce a letter based on a rubric,Required to produce a letter based on a rubric,

input letter and five content pointsinput letter and five content points

Explaining, refuting, presenting and developingExplaining, refuting, presenting and developing

arguments, suggesting, etc.arguments, suggesting, etc.


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Part 2Part 2

A report - test the ability to produce a reportA report - test the ability to produce a reportin response to inputin response to input

Required to produce a report based on aRequired to produce a report based on a

rubric, including four content pointsrubric, including four content points

Presenting and developing arguments,Presenting and developing arguments,

expressing opinions evaluating ideas,expressing opinions evaluating ideas,

describing, summarising, recommending,describing, summarising, recommending,persuading, explaining, etc.persuading, explaining, etc.


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The four parts of the Test of SpeakingThe four parts of the Test of Speaking

Part 1 InterviewPart 1 Interview

Test the ability to respond to questions andTest the ability to respond to questions and

expand on responses, exchanging informationexpand on responses, exchanging information

and opinionsand opinions

Part 2 Long TurnPart 2 Long Turn

Test the ability to sustain a long turn andTest the ability to sustain a long turn andmanaging discoursemanaging discourse


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Part 3 Collaborative Task

Test the ability to collaborate and negotiate through

initiating and responding in an appropriate way,

decision making

Part 4 - Discussion

Test the ability to engage in a discussion based on thetopic or issues raised in the collaborative task in Part 3,

turn taking, agreeing/disagreeing


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Use of Authentic Material

up-to-date, current topics

realistic

wide range available - internet etc

but

ungraded in level

unedited in length


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The Next ICFE ExaminationThe Next ICFE Examination

Examination date : 16Examination date : 16thth May 2009 (Saturday)May 2009 (Saturday)

Exam Registration Deadline : 20Exam Registration Deadline : 20thth March 2009March 2009

Exam fee HK$1,700 (2009)Exam fee HK$1,700 (2009)


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Exam CentresExam Centres

1. Kaplan, Hong Kong, Unit 2, 1/F, Far1. Kaplan, Hong Kong, Unit 2, 1/F, Far

East Finance Centre, 16 HarcourtEast Finance Centre, 16 HarcourtRoad, Admiralty, Hong Kong.Road, Admiralty, Hong Kong.

Tel : 2359 9080Tel : 2359 9080

2. The Hong Kong Polytechnic2. The Hong Kong Polytechnic

University, Centre for ProfessionalUniversity, Centre for Professional

and Business English, Hung Hom,and Business English, Hung Hom,Kowloon.Kowloon.

Tel : 3400 2733Tel : 3400 2733


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Examination ResultsExamination Results

11. C1 Pass with Merit. C1 Pass with Merit

2. C1 Pass2. C1 Pass

3. B2 Pass3. B2 Pass

(Correspond to bands 5.5-7.0 of IELTS)(Correspond to bands 5.5-7.0 of IELTS)

4. Narrow Fail4. Narrow Fail

5. Fail5. Fail

80% of a first group of students in a80% of a first group of students in a

London School of Business & FinanceLondon School of Business & Finance

passed the exampassed the exam


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Keep up to date with what's new via theICFE website

http://www.financialenglish.org

icfe introduction

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