Accounting & Finance

    The Institute of the Motor Industry
    Vocational

    Specification: 603/5319/3

    The THE-INSTITUTE-OF-THE-MOTOR-INDUSTRY Vocational Accounting & Finance specification covers 1 topic with 5 learning objectives (603/5319/3). Use the topic browser below to explore subtopics, exam tips, common mistakes, and key terminology for each area of the course.

    This subject will help you develop key knowledge and skills required for exam success.

    1

    Units

    5

    Learning Outcomes

    3

    Assessment Guidance

    4

    Key Skills

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    Key Features

    • Master key concepts
    • Develop exam technique
    • Apply knowledge effectively

    Common Exam Mistakes

    Pitfalls to avoid in your exams

    • •Misunderstanding the ownership structure of PCP, incorrectly stating the customer automatically owns the vehicle at the end.
    • •Failing to explain the implications of voluntary termination rights.
    • •Overlooking the need to disclose commission or financial arrangements with lenders.
    • •Providing generic product advice without tailoring to the customer's mileage, usage, or future plans.

    Top Examiner Tips

    Expert advice for exam success

    • •Always structure your response to mirror the assessment criteria: analyse the scenario, apply regulations, evaluate options, and recommend with justification.
    • •In role-play assessments, actively listen and ask probing questions to uncover the customer's true needs before presenting solutions.
    • •Memorise key regulatory milestones and acronyms (e.g., FCA, TCF, APR, DPA) and use them appropriately to demonstrate professional vocabulary.

    Qualification Units

    1 units

    How this qualification is graded

    Vocational qualifications are marked against criteria, not an exam percentage. Each unit is assessed across three bands - build up from Pass by applying your knowledge to realistic workplace scenarios.

    Pass

    Accurately describe and explain the core knowledge for the unit and link it to the given scenario.

    Merit

    Apply and analyse that knowledge in detail, showing why it matters in the workplace context.

    Distinction

    Evaluate and justify decisions, weigh up alternatives and make well-reasoned professional recommendations.

    IMI Level 3 Motor Finance Specialist End Point Assessment - Core Content

    This subtopic covers the essential knowledge and skills required for a motor finance specialist, focusing on regulatory compliance, financial product knowledge, and customer-centric advisory practices in the context of vehicle purchasing. It ensures practitioners can ethically and effectively guide customers through finance options while adhering to legal and organisational standards.

    IMI Level 3 Motor Finance Specialist End Point Assessment

    5 learning outcomes7 guidance points

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    The Institute of the Motor Industry End-Point Assessment Accounting & Finance