This page explains the Practical Financial Exams Limited Terms and Conditions for the sale and provision of our goods and services, and the use of our website. By using this website and/or our goods and services, you are agreeing to these Terms and Conditions in full.
These Terms and Conditions are between Practical Financial Exams Limited (“us”, “we”, “our”, “PFE”) and the User of this website (“you”). All our goods and services, regardless of their cost or how they are purchased, are subject to these Terms and Conditions.
Throughout these Terms and Conditions, the singular shall mean the plural and vice-versa. Users of our website, products, and/or services may also be referred to as “Customers”, “Candidates”, and/or “Learners”. “Goods and services” also mean “goods or services”. Where examples are provided, these should be read as “including, but not limited to”.
These Terms and Conditions are governed by Scottish Law, and subject to the exclusive jurisdiction of the Scottish courts for the determination of disputes.
These Terms and Conditions should be read alongside the following documents:
We may amend these Terms and Conditions from time to time or as may be required by law. The current version of these Terms and Conditions was last updated on 14th November 2020.
In the event of any of the provisions of the Contract being held to be unenforceable, the remaining provisions will be unaffected and will remain enforceable.
We reserve the right to take any lawful action in respect of any breach of the Terms and Conditions, including restricting or terminating access to the Services and recovering any losses, by court action if necessary, which may arise as a result of that breach.
If you have any enquiries regarding these Terms and Conditions, please contact us at firstname.lastname@example.org.
We offer the opportunity for Customers to purchase goods and services on our website and/or by e-mailing us and paying by bank transfer, including the latest Practical Investment Planning study text, access to our E-mail Helpline, enrolment for the Practical Investment Planning assessment, and a package containing all of these. We may also provide promotional and/or other material at no additional cost, including branded pens and the use of the PFE(PIP) post-nominal designation.
It is the responsibility of Customers to ensure their payment information is correct where purchasing goods and services from us, and in submitting the information, they are confirming it is accurate, true, and complete. We will retain a record of all transactions for six (6) years following the date of purchase.
All prices for goods and services are payable in pound sterling (£). Prices are detailed for each of our goods and services on our website, and may be provided over the telephone, in e-mails, on social media, or in other ways by Practical Financial Exams Limited. Prices communicated are inclusive of VAT.
If making payment in a foreign currency or from outside the UK, Practical Financial Exams Limited accepts no liability for any local taxes or charges, including currency conversion charges applied by your bank or payment processor.
By purchasing any of our goods or services via any medium (such as via our website or over the telephone) you are making an offer to purchase these goods or services which, if accepted by us, will result in a binding contract. We reserve the right to refuse your order, in which case we will notify you.
Goods and services can be paid for online by credit or debit card (via Square, our payment processor) or via PayPal. Alternatively, orders placed via telephone or e-mail can be paid for by bank transfer. Transactions will show on your bank statement as "PF EXAMS".
Goods are only dispatched, and services only provided, after full payment has been received by Practical Financial Exams Limited.
We are fully entitled at any time to engage with sub-contractors or others to provide services to our Customers, such as assessment, and this does not affect our contractual relationship with you.
Our goods and services are available only to Customers in mainland UK and Northern Ireland. If you are based outside the UK and would like to purchase any of our services, please contact us at email@example.com.
We may make changes to our goods, services, and/or website content at any time solely at our discretion and without giving prior notice.
You can cancel your enrolment for the Practical Investment Planning qualification for a full refund of monies paid by you, within fourteen (14) calendar days from Practical Financial Exams Limited accepting your order for the services. If you wish to cancel, you can notify us by e-mailing firstname.lastname@example.org. Your access to the E-mail Helpline will be rescinded upon our acceptance of your request to cancel. No refund will be given for cancellations outside the fourteen (14) day period.
You can return your Practical Investment Planning study text, for a full refund of £130, within fourteen (14) calendar days from the day on which either the study text is received by you, or a person nominated to receive the study text on your behalf. If you wish to return your study text, you can notify us by e-mailing email@example.com, and if already dispatched, the study text must be returned to us at your expense, and in the condition supplied to you. No refund will be given for returns outside the fourteen (14) day period.
Your refund of any monies paid by you will be processed within fourteen (14) days of the receipt (or proof of sending) of goods.
Your Practical Investment Planning study text will be dispatched to you within three working days of your payment clearing into our account. The service we use is Royal Mail 1st Class, and packages must be signed for.
Any description or image of the study text is for illustrative purposes only and there may be small discrepancies in the size and colour of the book provided.
The printed textbook will be updated once a year in September, with digital updates published on an ad-hoc basis throughout the year in the Practical Financial Exams Blog. Candidates can expect textbook updates whenever any relevant FCA policy or guidance documents are published, and whenever technical or tax rules change. Previous versions are held on file by Practical Financial Exams Limited.
Candidates may e-mail firstname.lastname@example.org anytime between when payment has been received for use of the E-mail Helpline ("Helpline"), and when they have passed their final assessment. Practical Financial Exams Limited endeavours to answer within 48 hours, although we cannot guarantee this. Practical Financial Exams Limited is under no obligation to answer Helpline e-mails received within 48 hours of a Learner passing their final assessment.
In every e-mail to the Helpline, Candidates must:
Where the e-mail doesn’t conform to these requirements, a standard e-mail is sent requesting they re-send the e-mail in line with the requirements. The rationale here is to prevent access to those who have not paid for use of the Helpline, and to ensure consistency and validity of the Helpline service.
Practical Financial Exams Limited reserves the right to respond that we do not know the answer to questions; we do not guarantee answers. Further, we reserve the right to refuse to answer Helpline questions where doing so could cause harm or could be considered a breach of our Conduct Rules.
All answers provided via the Helpline are the opinion of the individual providing them, based on their knowledge, at the time provided. Neither Practical Financial Exams Limited, nor the individual providing the answer, can accept responsibility for any action being taken, or refrained from being taken, whether in an assessment or in any other scenario, because of any information provided, or not provided, via the Helpline.
While every effort will be made to meet the 48-hour timescale, there is no guarantee of this, and the response may be postponed indefinitely without notice or liability.
Practical Financial Exams Limited will retain all Exam Helpline communications and our responses for twelve (12) months, and they will be provided to our External Verifier for quality assurance purposes.
Candidates who have successfully achieved the Practical Investment Planning qualification may use the post-nominal designation PFE(PIP) after their name on business cards, e-mail signatures, social media profiles, websites, CVs, and any other professional setting.
Candidates who have not yet achieved a Pass in Practical Investment Planning are not permitted to use the designation. The designation is a registered trademark of Practical Financial Exams Limited and using the designation without permission may result in a civil claim for damages and criminal prosecution. Further information is available here: https://www.gov.uk/defend-your-intellectual-property
PDF certificates are e-mailed to candidates on achieving the Practical Investment Planning qualification, attached to their Assessment Results e-mail. This is included in the packaged price of the exam. These are held on file indefinitely by Practical Financial Exams Limited in accordance with our Data Retention Policy, so that replacement certificates can be issued where required. If you have lost yours, you can request a replacement sent to you by e-mailing email@example.com. There is a £10 administration fee to pay, via bank transfer. The replacement is clearly marked as a replacement certificate.
If you need to update any personal details, you can do so by e-mailing firstname.lastname@example.org. There is no cost for doing so.
For name changes, we may require proof such as a copy of a marriage certificate.
Any unethical, vexatious, and/or abusive behaviour towards Practical Financial Exams Limited, and/or any of our staff or contractors, will not be tolerated. This includes via e-mail, letter, telephone, face-to-face, virtual, social media, and any other communication methods. Whether conduct is vexatious and/or abusive is determined entirely by Practical Financial Exams Limited.
We reserve the right to cease communication about a particular matter, or completely, with consumers who are deemed by us as behaving in an unethical, abusive, and/or vexatious way. Furthermore, we reserve the right to take appropriate action against candidates behaving in a vexatious and/or abusive way under our Malpractice Policy.
The contents of this website are the intellectual property of Practical Financial Exams Limited, including our company name, qualification titles, names of our goods and services, and the PFE(PIP) post-nominal designation. The use of these trademarks (whether registered or not) without the permission of Practical Financial Exams Limited, which is not Fair Dealing, is prohibited.
We have taken reasonable steps to ensure that we have not infringed the intellectual property of any third parties. If you believe that any material on our website or otherwise infringes your intellectual property rights, please contact us at email@example.com.
Learners are responsible for providing their portfolios of evidence to Practical Financial Exams Limited for assessment purposes; it is not the responsibility of Practical Financial Exams Limited to collect them from you. The only exception is the professional discussion, which will be recorded by the Assessor and provided to Practical Financial Exams Limited.
Learners must ensure that no real-life client personal data is present within their portfolios.
Learners may post portfolios stored on a USB stick and/or printed on paper to our Registered Office at 74 Laymoor Avenue, Renfrew, PA4 8BS. Alternatively, Learners may e-mail their portfolio to firstname.lastname@example.org. Where sending large files such as videos, Learners may use free transfer services such as WeTransfer or Drop Box. It should be noted that Practical Financial Exams Limited does not endorse any of these services, and Learners use them at their own risk.
The PIP Deluxe Package provides additional Learner support over the Foundation Package, although it provides the exact same qualification.
The 3 hours of live support may be in a group or 1-2-1, depending on availability and number of Learners going through the process at that time. This support will be provided by PFE to Learner(s) at mutually agreeable times and on mutually agreeable dates. Our core working hours are 5pm to 9pm, Monday – Friday, UK time, excluding bank holidays and weekends, although we reserve the right to provide support outside of these hours, providing it is mutually agreed by both the Learner and PFE.
The 3 hours of live support can be spread across the Learner’s enrolment but must be in blocks of at least 1 hour.
The Learner is only entitled to support between (1) the date of their enrolment; i.e. when they receive their first assignment, and (2) the earlier of (a) their enrolment expiry (12 months after enrolment) or (b) their successful completion of their SCQF Level 9 Practical Investment Planning qualification.
Support can only be provided in relation to their SCQF Level 9 Practical Investment Planning qualification and cannot be provided for any other purpose.
While we will always endeavor to provide support at a time convenient to our Learners, we may not be able to accommodate their preferred date/time, and we will attempt to arrange an alternative.
It is entirely the responsibility of the Learner to contact PFE to arrange support. Where the Learner fails to arrange support and no support is provided, the Learner is not entitled to a refund. Similarly, where PFE and the Learner are unable to mutually agree a date/time for support, the Learner is not entitled to a refund.
The software used to provide the support is either Microsoft Teams or Zoom, to be mutually agreed upon by PFE and the Learner. It is the responsibility of the Learner to ensure they have compatible hardware to run either of these software packages, and where they do not or for whatever reason cannot use Microsoft Teams or Zoom, no support may be given, and the Learner is not entitled to a refund.
The 1-2-1 assessment feedback is provided by PFE to the Learner at mutually agreeable times and on mutually agreeable dates. Our core working hours are 5pm to 9pm, Monday – Friday, UK time, excluding bank holidays and weekends, although we reserve the right to provide feedback outside of these hours, providing it is mutually agreed by both the Learner and PFE.
While we will always endeavor to provide support at a time convenient to our Learners, we may not be able to accommodate their preferred date/time, and we will attempt to arrange an alternative.
It is entirely the responsibility of the Learner to contact PFE to arrange feedback. Where the Learner fails to arrange feedback and no feedback is provided, the Learner is not entitled to a refund. Similarly, where PFE and the Learner are unable to mutually agree a date/time for feedback, the Learner is not entitled to a refund.
The software used to provide the feedback is either Microsoft Teams or Zoom, to be mutually agreed upon by PFE and the Learner. It is the responsibility of the Learner to ensure they have compatible hardware to run either of these software packages, and where they do not or for whatever reason cannot use Microsoft Teams or Zoom, no feedback may be given, and the Learner is not entitled to a refund.
Learners have 1 week following the date of each assessment result to arrange a mutually agreeable time for feedback. If they fail to do this, they waive their right to feedback, and no refund will be given.
Learners have 1 free re-sit attempt for each assessment (the written assignment, portfolio, and professional discussion). After two fails for each assessment, the policy will revert to the Reassessment Policy contained in our Policies, Processes, and Procedures document, freely downloadable from the Practical Financial Exams Limited website, or by e-mailing email@example.com.
If events occur that are beyond the reasonable control of Practical Financial Exams Limited, we reserve the right to cancel, suspend, or vary the operation of our obligations to you. Examples of events outside our control include, but are not limited to:
Practical Financial Exams Limited shall not be held liable for any breach of contract or in tort resulting from such events.
We will produce goods and perform services with due skill, care, and diligence.
The Practical Investment Planning study text and the E-mail Helpline are educational tools only. When Learners enrol for the Practical Investment Planning qualification, they are purchasing learning materials and an assessment, not an outcome. Practical Financial Exams Limited offers no guarantees that any of our goods or services will result in the achievement of the Practical Investment Planning qualification, or any other outcome.
Where any defect is communicated to us in writing within a reasonable time, we shall take reasonable steps to remedy it. Our liability (if any) under these Terms and Conditions in respect of any defect in the goods or services or of any duty owed to you under these Terms and Conditions will be limited to the price paid by you or if lower, the amount available under any responding insurance policy.
We shall not be liable for any injury to any person or loss or destruction of or damage to any property, unless the same shall have arisen from any default, negligence or neglect by Practical Financial Exams Limited, or any person or party for whom we are responsible in law, under these Terms and Conditions.
We do our best to ensure that the information on our website, within the Practical Investment Planning study text, in our Blog, and provided via our E-mail Helpline, are accurate and up to date. It is based on Practical Financial Exams Limited’s knowledge and understanding of the relevant technical details, laws, regulations, and industry best practice at the time of publication. While every effort has been made to ensure its accuracy, neither Practical Financial Exams Limited nor the Author of any information can accept any responsibility for loss occasioned to any person acting or refraining from action because of any information provided in any medium or on any platform.
The Practical Investment Planning study text, the information provided via our E-mail Helpline, and in our Blog, are educational resources only and Practical Financial Exams Limited, and the author of any such publication or information, accept no responsibility for investment or trading decisions by any person in any form.
Our publications feature information regarding real life products and services from various financial services companies, for which written permission is held on file by Practical Financial Exams Limited. However, there is no affiliation with any of these providers. They have been included for educational purposes only and should not be relied upon for investment decisions.
You will indemnify Practical Financial Exams Limited against any and all claims, damages, losses, liabilities and costs arising from and in connection with your use and/or abuse of the website or your breach of these Terms and Conditions.
Any links to external websites or sources, whether on or offline, provided by Practical Financial Exams Limited, is provided for the convenience of our Candidates and is generally for educational and/or referencing purposes only. Links do not represent endorsement of, recommendation of, or association with the linked website or source.
Practical Financial Exams Limited is not responsible for the content of any external websites which can be accessed via our website, provided in e-mails or via social media, or that we direct anyone to offline or via any other medium.
Furthermore, we are not responsible for any consequences of anyone entering contracts with any third parties or companies which are not Practical Financial Exams Limited, and we accept no liability for any loss, damage, expense, costs or liability whatsoever incurred by you as a result.
Access to, and use of, our website, or in e-mail communication with us, is at your own risk and we do not warrant that the use of the website or any material downloaded from it, or any e-mail communication, will not cause damage to any property, including but not limited to loss of data or computer virus infection.
The contents of our website are protected by Copyright owned by Practical Financial Exams Limited, and/or that of our Licensors.
Practical Financial Exams Limited is happy for any of our Candidates to download or print extracts from our website for personal use only, and/or where such use falls within the definition of Fair Dealing. Information and guidance on Fair Dealing is available here: https://www.gov.uk/guidance/exceptions-to-copyright#fair-dealing
Outside personal use and Fair Dealing, no part of this website may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Practical Financial Exams Limited. Any unauthorised act in relation to all or any part of this website may result in a civil claim for damages and criminal prosecution.
By logging in to the website and creating a user profile, you confirm that the e-mail address you provide is solely accessible by you and is secure from any external third-party access.
You may not access our website in any way which interferes with its normal functioning.
Please contact us so that any concerns or complaints can be addressed by the Internal Verifier. We will send a written acknowledgement of your complaint within seven (7) calendar days of receiving the complaint. We aim to investigate the complaint and reach an outcome within eight (8) weeks of the date of the complaint. Where the Internal Verifier finds the complaint to be justified, we will make an appropriate offer of compensation.
Complaints and their corresponding outcomes are recorded and held by Practical Financial Exams Limited for twelve (12) months and provided to the External Verifier where required, in line with our Quality Assurance External Verification Process.