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ICFE Introduction

The document provides information about the Cambridge International Certificate in Financial English (ICFE) exam. The ICFE assesses English language proficiency in a financial and accounting context through four skills - reading, writing, listening, and speaking. It is a 2-hour exam that tests understanding of authentic financial texts and the ability to communicate effectively in writing and speaking on business-related topics. The exam is offered twice yearly in May and November and results in a C1 Pass with Merit, C1 Pass, or B2 Pass that are recognized by universities and employers internationally.

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406 views

ICFE Introduction

The document provides information about the Cambridge International Certificate in Financial English (ICFE) exam. The ICFE assesses English language proficiency in a financial and accounting context through four skills - reading, writing, listening, and speaking. It is a 2-hour exam that tests understanding of authentic financial texts and the ability to communicate effectively in writing and speaking on business-related topics. The exam is offered twice yearly in May and November and results in a C1 Pass with Merit, C1 Pass, or B2 Pass that are recognized by universities and employers internationally.

Uploaded by

GordonLee
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPT, PDF, TXT or read online on Scribd
You are on page 1/ 27

Cambridge International

Certificate in Financial
English (ICFE)

Spare Time Study Centre


Cambridge ESOL
Commitment to assessment of highest
quality recognition by universities,
employers and official bodies throughout
the world

High level support for learners and teachers


ACCA

The global body for professional accountants

Offer business-relevant qualifications to


people in accountancy, finance and
management
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


What is ICFE?
• An exam which tests English in a financial and
accounting context

• Not a test of finance and accounting, though


background knowledge of the area will affect
how candidates perform

• Assesses ability to understand spoken and


written English in realistic, professional contexts
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
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 in


more specialised areas
Financial English v. General English

Differences: Similarities:

– Technical vocabulary • syntax (grammar)


e.g. accrual, debenture, liquidity

– (Cross-discipline) technical • vocabulary


vocabulary
e.g. reconciliation, security
• skills
– Semi-technical vocabulary
e.g. on the basis of, by means of,
as regards, to this end
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
ICFE :Test Content
Paper Timing Number of parts

Reading 1 hour 15 minutes 6

Writing 1 hour 15 minutes 2

Listening 40 minutes (approx) 4

Speaking 16 minutes 4
Receptive Skills
1. Reading – a range of finance-related
texts and accompanying tasks (54 questions)

Use of English (Part 1-3) : test knowledge 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 paragraph
level (two marks per question)

• understanding text structure, reading for gist, detail,


opinion and referencing
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
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
Receptive Skill
2. 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


The four parts of the Test of Listening

Part 1 – Multiple –Choice (6 questions)


Understanding gist, detail, function, purpose,
topic attitude, feeling, opinion, inference

Part 2 – Multiple-Choice (5 questions)


Understanding gist, specific information,
opinion, attitude, agreement and disagreement
Part 3 - Sentence Completion (9 questions)
Following the main points and retrieving
specific information from the text

Part 4 – Multiple-Matching (10 questions)


Identifying the gist and main points of a
number of short texts on a theme by
identifying context, speakers, topics,
functions, attitude and opinion
Productive Skills
1.Writing
The 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
The two parts of the Test of Writing

Part 1

 A letter – test the ability to produce a letter in


response to an input text

 Required to produce a letter based on a rubric,


input letter and five content points

 Explaining, refuting, presenting and developing


arguments, suggesting, etc.
Part 2

 A report - test the ability to produce a report


in response to input

 Required to produce a report based on a


rubric, including four content points

 Presenting and developing arguments,


expressing opinions evaluating ideas,
describing, summarising, recommending,
persuading, explaining, etc.
Productive Skill
2. Speaking
Part Focus Interaction Timing

1 Interview/discussion interlocutor to 2 minutes


candidates

2 Individual long turn questions from 7 minutes


other candidate(s)

3 Collaborative task candidate to 4 minutes


candidate

4 Discussion interlocutor to 3 minutes


candidates
The four parts of the Test of Speaking

Part 1 – Interview

Test the ability to respond to questions and


expand on responses, exchanging information
and opinions

Part 2 – Long Turn

Test the ability to sustain a ‘long turn’ and


managing discourse
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 the


topic or issues raised in the collaborative task in Part 3,
turn taking, agreeing/disagreeing
Use of Authentic Material
 up-to-date, current topics

 realistic

 wide range available - internet etc

but

 ungraded in level

 unedited in length
The Next ICFE Examination

Examination date : 16th May 2009 (Saturday)

Exam Registration Deadline : 20th March 2009

Exam fee – HK$1,700 (2009)


Exam Centres
1. Kaplan, Hong Kong, Unit 2, 1/F, Far
East Finance Centre, 16 Harcourt
Road, Admiralty, Hong Kong.
Tel : 2359 9080

2. The Hong Kong Polytechnic


University, Centre for Professional
and Business English, Hung Hom,
Kowloon.
Tel : 3400 2733
Examination Results
1. C1 Pass with Merit
2. C1 Pass
3. B2 Pass
(Correspond to bands 5.5-7.0 of IELTS)
4. Narrow Fail
5. Fail

80% of a first group of students in a


London School of Business & Finance
passed the exam
Keep up to date with what's new via the
ICFE website

http://www.financialenglish.org

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