Accounting & Finance Revision — City & Guilds Limited Vocationally-Related Qualification
Complete City & Guilds Limited Vocationally-Related Qualification Accounting & Finance specification revision resources. Tailored syllabus coverage with topic breakdowns, quizzes, and practice questions.
Specification Topics
- Agreeing the settlement of straightforward claims for uninsured losses
- Appraising and authorising applications for personal financing and credit facilities
- Book-Keeping and Accounts
- Calculating and Quoting Pension Scheme Death Benefits
- Carrying out initial assessment and investigating complex insurance claims
- Contributing to the delivery and achievement of team and business objectives in a financial services environment
- Dealing with requests to cancel financial services products or services
- Dealing with straightforward claims for insured losses
- Charging and controlling securities for financing
- Calculating and Quoting Pension Scheme Early Leavers Notifications
- Deal with customers using bespoke software
- Dealing with customers by telephone in a financial services environment
- Debt Collection Case Management Practice _pre legal_
- Completing reports for mortgage and/or financial planning clients
- Calculating and quoting pension scheme retirement benefits
- Contributing to the development and launch of new products and/or services
- Debt Collection Case Management Principles _pre legal_
- Debt Collection Negotiations Practice
- Dealing with complaints relating to financial services products and /or services
- Collating and analysing statistical insurance data
- Dealing with complex claims for insured losses
- Debt Collection Negotiations Principles
- Dealing with complex claims for uninsured losses
- Debt Repayment Monitoring Practice
- Complying with regulations within the financial services environment
- Dealing with pension scheme complaints and disputes
- Debt Repayment Monitoring Principles
- Debtor Call Handling Practice
- Debtor Call Handling Principles
- Creating and processing pension scheme new entrant records
- Assessing and using financial information to reconcile stakeholder investment accounts
- Appraising applications for business financing and credit facilities
- Assessing and using complex financial information to reconcile accounts
- Deliver reliable customer service
- Generating and qualifying sales leads
- Debt Collection Operations Management Practice
- Give customers a positive impression of yourself and your organisation.
- Improving and maintaining workplace competence in a financial services environment
- Debt Collection Operations Management Principles
- Operating a multi-currency till
- Operating a sterling counter till
- Payment Processing Practice
- Payment Processing Principles
- Developing and implementing sales call plans
- Planning and organising work in a financial services environment
- Preparation for Debt Collection Practice
- Developing and maintaining business relations with financial services’ introducers
- Operating credit control procedures
- Arranging insurance cover on behalf of clients
- Arranging the settlement of investment transactions
- Assessing and using straightforward financial information to reconcile accounts
- Operating payment by instalments
- Preparation for Debt Collection Principles
- Developing productive working relationships with colleagues
- Preparing and delivering a sales demonstration
- Ensure compliance with legal, regulatory, ethical and social requirements
- Preparing and pursuing statements of account for financial products and services
- Establishing and maintaining investor details and records
- Establishing the price of assets and/or investments
- Processing applications for financing and credit facilities
- Processing customers’ financial transactions
- Establishing, monitoring and maintaining bank or building society accounts for customers
- Evaluating insurance products and services
- Processing documentation for bank or building society accounts
- Processing documentation for financing and credit facilities
- Evaluating risk as an insurance intermediary and advise other intermediaries
- Facilitating an administrative service for mortgage and/or financial planning clients
- Processing documentation for straightforward life, pensions and investment contracts
- Effecting amendments or renewals to existing insurance contracts
- Improve the customer relationship
- Processing instructions for straightforward mortgage and/or financial planning business
- Investigating arrears and recovering debts
- Processing life, pensions and investment business applications
- Authorising requests for payment against life, pensions and investment contracts
- Authorising financial transactions using telecommunications
- Lead a team to improve customer service
- Processing payments relating to stakeholder investment transactions or accounts
- Maintaining the custody of assets on behalf of the investor
- Processing straightforward claims for uninsured losses
- Managing branch counter services
- Processing straightforward insurance business as an intermediary
- Processing information and updating records in relation to contracts of insurance in a financial services environment
- Managing the business relationship with clients in a financial services environment
- Processing straightforward insurance policy documentation
- Processing straightforward insurance renewals
- Managing the quality of decisions to offer financing and credit facilities
- Processing straightforward insurance renewals as an intermediary
- Measuring the performance of investments
- Processing straightforward mid-term amendments
- Monitor and solve customer service problems
- Processing straightforward new insurance claims notifications
- Monitoring and reviewing financing and credit facilities
- Organise the delivery of reliable customer service
- Processing straightforward requests for payment against life, pensions and investment contracts
- Overseeing investment operation systems and processes
- Promoting the organisation’s additional financial services products and services
- Building effective relationships with clients in a financial services environment
- Authorising the underwriting of life, pensions and investment contracts
- Providing an administrative service for mortgage and/or financial planning clients
- Assessing the needs of clients and preparing London Market presentations
- Calculating and issuing Cash Equivalent Transfer Value CETV
- Contributing to reports for mortgage and/or financial planning clients
- Collating, preparing and monitoring information and data from a variety of sources
Top Exam Board Tips
- Always refer to the specific policy wording and use it as the basis for deciding if a loss is uninsured and how settlement should be calculated.
- Use a structured checklist to ensure all required information (e.g., proof of loss, value, ownership) is collected and verified before agreeing settlement.
- Practice role-playing claim discussions to demonstrate effective communication, active listening, and empathy in handling claimant queries or complaints.
- Familiarise yourself with the Financial Conduct Authority (FCA) rules and principles, particularly those relating to claims handling and customer outcomes.
- In written assignments or case studies, clearly show step-by-step reasoning from claim receipt to settlement offer, referencing regulatory and organisational procedures.
- In scenario-based assessments, always start by identifying if the loss is truly uninsured by checking the policy exclusions and definitions—this is a key examiner focus.
- For written assignments, structure your claim report with clear headings: notification details, policy check, loss assessment, settlement calculation, customer communication, and regulatory compliance.
- When role-playing a claims conversation, use active listening and summarise the customer’s concerns to demonstrate professionalism and gather accurate information.
- Memorise the key steps of the FCA’s dispute resolution rules (DISP) and show how they apply when a complaint arises during settlement.
- Practice calculating simple settlements with polices that have deductions like ‘betterment’ or ‘wear and tear’ to avoid arithmetic errors.
Common Mistakes to Avoid
- Failing to verify the claimant's identity and ownership of the lost item or property before proceeding with settlement.
- Overlooking specific policy exclusions or conditions that may render the loss uninsured or limit the settlement amount.
- Not distinguishing between insured and uninsured losses, leading to incorrect settlement figures or scope.
- Inadequate documentation of the settlement agreement and rationale, resulting in potential disputes or audit failures.
- Ignoring prescribed time limits for claim notification and settlement as per policy terms and regulatory guidance.
- Confusing uninsured losses with insured losses, leading to incorrect application of policy excess or coverage limits.
- Failing to verify the policyholder's identity and authority before sharing claim details, breaching data protection requirements.
- Overlooking the need to explain the basis of settlement clearly to the customer, resulting in complaints due to misunderstanding.
Key Terminology & Definitions
- Understand the roles and responsibilities of the various parties within the insurance industry related to the work carried out, Understand the details of general insurance policies, Understand how to agree the settlement of straightforward claims for uninsured losses, Be able to obtain and communicate information needed to settle the claim for uninsured losses, Be able to follow organisational procedures in dealing with uninsured loss claims including dealing with problems or complaints, Be able to correctly settle uninsured loss claims, Be able to keep accurate and complete records, Understand the requirements of all codes, laws and regulatory requirements, Be able to comply with all codes, laws and regulatory requirements
- Be able to assess applications for personal financing and/or credit facilities, Be able to apply the decision-making process and communicate decisions to customers, Be able to activate the facility, Be able to comply with all codes, laws and regulatory requirements
- Financial document completion
- Cash and credit transaction recording
- Bank reconciliation
- Petty cash imprest system
- Trial balance extraction
- Scheme rule interpretation
- Legislative and regulatory compliance
- Death benefit calculations
- Member record verification
- Beneficiary communication and quotations
- Policy interpretation and validation
- Claim investigation methods
- Regulatory and ethical compliance