ICFE (International Certificate in Financial English)

The Cambridge ESOL International Certificate in Financial English is an examination set at Levels B2 and C1 of Common European Framework of References for Languages (CEFR) and assesses language skills in the context of finance and accounting. ICFE is suitable for students of finance and accountancy and practicing accountants and finance professionals. ICFE is produced and assessed by University of Cambridge ESOL Examinations, in Collaboration with ACCA (the Association of Charted Certified Accountants) - the largest and fastest-growing international accountancy body. Cambridge ESOL examinations and ACCA qualifications are recognised throughout the world.

ICFE has four papers:

1. Reading
3. Writing
5. Listening
7. Speaking

ICFE is an examination set at intermediate and upper-intermediate level (B2/C1) and is equivalent in level to FCE and CAE. ICFE assesses language skills in the context of finance and accounting.

Reading (1 hour and 15 minutes)

Students are expected to be able to read and understand finance-related texts and demonstrate a variety of reading skills including skimming, scanning, deduction of meaning from context, and selection of relevant information to complete the tasks. There are six parts. Parts 1 to 3 test candidates’ knowledge of the language system. Parts 4 to 6 test candidates’ understanding of the meaning of written English at word, phrase, sentence and paragraph level.

Writing (1 hour and 15 minutes)

Students should be able to complete writing tasks covering a range of finance-related topics, in response to the stimuli provided and for a given purpose and target reader. There are two parts. Candidates are requires to produce a letter in 120-180 words in Part 1 and a report in 200-250 words in Part 2.

Listening (40 minutes)

Students should be able to understand each finance-related text as a whole, gain detailed understanding and appreciate gist and the attitude of the speaker. Texts take the form of presentations, meetings, lectures, announcements etc. The paper contains four parts.

Speaking (16 minutes)

Students are expected to be able to perform a variety of spoken tasks on finance-related topics. They must also demonstrate a range of oral skills: interactional, social, transactional and collaboration.

Results

The four ICFE papers total 200 marks, after weighting. Each paper is weighted to 50 marks. Overall grades are reported normally within six weeks of the test date as three passing grades: C1 Pass with merit, C1 Pass, and B2 Pass. There are two fail grades: Narrow Fail and Fail. Once awarded Cambridge ESOL ICFE certificates are valid for life.

Find out more about ICFE