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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
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