ICFE (International Certificate in Financial English) is a Cambridge ESOL examination, produced in collaboration with ACCA (the Association of Chartered Certified Accountants).
Cambridge ICFE is suitable for students of finance and accounting, practising accountants and finance professionals with a B2 level of English.
It also aims at candidates seeking certification to demonstrate their English-language proficiency in a finance or accounting context.
The Cambridge ICFE exam is comprised four papers:
1. the Test of Reading consists of six extracts from finance and accounting textbooks and reference books, finance and accounting journals and company reports. (75 minutes)
2. the Test of Writing consists of two finance and accounting-related writing tasks in response to the stimuli provided. Candidates are required to write a letter and a short report. (75 minutes)
3. the Test of Listening contains four recorded texts which include presentations, lectures, meetings, discussions and interviews. (40 minutes)
4. the Test of Speaking contains four parts during which candidates perform a variety of spoken tasks on finance and accounting-related topics. (16 minutes)
The exam is set at CEFR levels B2-C1. The results are reported as three passing grades (C1 Pass with Merit, C1 Pass and B2 Pass).
The preparation course takes thirty 90 minute sessions held once a week. Those electing to take this course are expected to be familiar with some finance and accountancy concepts and terminology.
The test is administered:
- in authorised Cambridge ESOL test centres;
- twice a year, in November and May.
In Poland the test takes place in Warsaw and Cracow, or other British Council centres if there are 10 candidates for a given session.