Pearson LCCI Level 3 Certificate in Business Statistics (VRQ)

LCCI qualifications in accounting and finance

This may be taken a a stand-alone qualification but it may also be taken as an optional component of the Pearson LCCI Level 3 Diploma in Accounting and Finance.

Countries
  • England
  • Wales
  • Northern Ireland
  • International
Purpose

Schools and colleges may offer qualifications that are not included in the performance tables, if approved for teaching to 16-19 year olds, where this is in the best interests of individual students.

This qualification is not listed on the 16 - 19 Performance Tables. It is taken by a large number on international schools and colleges.

This qualification will enable students to apply statistical techniques to business data in order to plan and control business operations, evaluate and manage risk and support the decision-making process. Students will gain an understanding of the basic concepts of statistical problem solving in business situations, develop knowledge, understanding and skills of statistical methods and concepts and in probability, including an awareness of the potential and limitations of data and methods.

Education context

The qualification may be taken alongside the Pearson LCCI Certificate in Cost & Management Accounting and the Pearson LCCI Certificate in Financial Accounting to achieve the Pearson LCCI Level 3 Diploma in Accounting & Finance. Alternatively, it may be taken alongside A levels.

Awarding organisation
  • Pearson Education Ltd
Qualification code
601/5171/7 (Pearson LCCI Level 3 Certificate in Business Statistics (VRQ))
Structure

A linear single unit qualification consisting entirely of mandatory content

Subject areas
  • Statistics

1. Management Information: The External and Internal Business Environment

  • Data collection
  • Descriptive statistics

2. Business Planning Models

  • Correlation and regression (including Spearman’s rank correlation coefficient)
  • Time based data

3. Risk Management and Business Decision Making

  • Probability, including the normal distribution
  • Estimation and confidence intervals
  • Significance testing
  • Chi squared test

4. Quality Assurance and Control

Levels
  • Level 3

Level 3 qualifications regulated to the Regulated Qualifications Framework (RQF).

A levels are also Level 3 qualifications regulated to the Regulated Qualifications Framework.

Level 3 is the same level as the Scottish Credit and Qualifications Framework (SCQF) Level 6.

Grading

Distinction, Merit, Pass

Assessment

There is one examination paper of 3 hours duration with 5 compulsory questions and a total of 100 marks.

Contribution of assessment components to overall grade

The single exam makes up 100% of the assessment.

Resit arrangements

This is a linear qualification and so resitting is not applicable.

Guided / notional learning hours
135 hours
UCAS Tariff points

Pearson LCCI Level 3 Certificate in Business Statistics (VRQ)

Grade Points
D 24
M 16
P 8
Key issues for UK HE admissions

This qualification may be taken alongside the Pearson LCCI Certificate in Cost & Management Accounting and the Pearson LCCI Certificate in Financial Accounting to achieve the Pearson LCCI Level 3 Diploma in Accounting & Finance. Alternatively, it may be taken alongside A levels. Either route should enable progression to higher level programmes, particularly those in accounting and finance.

This is a revised specification introduced for first teaching on 1 January 2015.

Timing of assessments and results

There are 8 exam series in each year. Results are published in March, May, June, August, September, November, January and February.

Qualification date
Starting from 01 Jan 2015
Qualification dates notes

This is a current qualification.

Certification information

The results of many UK qualifications are reported to UCAS through Awarding Body Linkage (ABL)

  • A level and results from larger awarding bodies are reported automatically
  • IB results are only reported with the candidate’s permission
  • Some results are not reported through ABL; this does not reflect the validity of the qualification.

The results available through ABL can be found at: https://www.ucas.com/providers/undergraduate/undergraduate-application-process/awarding-body-linkage-abl#documents.

Where results are not available through ABL, HEPs will need to ask applicants to provide their own evidence of achievement.

In the calendar year 2016, there were:

  • 3,699 certifications on the old specification
  • 476 certifications on the new specification

These were mainly international students.

Results of this qualification are reported through ABL. 

Progression information

This qualification may be taken alongside the Pearson LCCI Certificate in Cost & Management Accounting and the Pearson LCCI Certificate in Financial Accounting to achieve the Pearson LCCI Level 3 Diploma in Accounting & Finance. Alternatively, it may be taken alongside A levels. Either route should enable progression to higher level programmes, particularly those in accounting and finance.