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The Qualifications and Credit Framework (QCF) was the national credit transfer system for education qualification in England, Northern Ireland and Wales between September 2011 and October 2015. [1] The replacement was the Regulated Qualification Framework .
The NQF was replaced with the QCF, Qualifications and Credit Framework in 2010, which was a credit transfer system which indicated the size of qualifications (measured in learning hours), as well as their level. The QCF was, in turn, replaced by the Regulated Qualifications Framework in October 2015.
UK Credits are the same at a nominal 10 hours of learning per credit unit across CATS, the Scottish Credit and Qualifications Framework (covering higher and further education, vocational education and school qualifications in Scotland), the Credit and Qualifications Framework for Wales (ditto for Wales) and the Regulated Qualifications Framework (further education and vocational education in ...
The key variables for (credit) risk assessment are the probability of default (PD), the loss given default (LGD) and the exposure at default (EAD).The credit conversion factor calculates the amount of a free credit line and other off-balance-sheet transactions (with the exception of derivatives) to an EAD amount [2] and is an integral part in the European banking regulation since the Basel II ...
The credit and qualifications frameworks for Scotland and Wales use the same UK credit, equivalent to ten hours of notional learning, as the higher education sector. All qualifications tied to the Welsh and Scottish frameworks have a credit value, covering schools, further education, higher education and vocational education.
The Scottish Credit and Qualifications Framework Partnership promotes lifelong learning in the country. Through the SCQF, learners can gain a better understanding of qualifications and plan their future learning. The SCQF is in the custody of, and managed by, the Scottish Credit and Qualifications Framework Partnership (SCQF Partnership).
In England, Northern Ireland and Wales, the levels are contained within the Regulated Qualifications Framework (RQF), which superseded the Qualifications and Credit Framework from 1 October 2015. There are nine levels of difficulty in the framework, from entry level (which is sub-divided into 3) to level 8. [4]
The European Credit Transfer and Accumulation System (ECTS) is a standard means for comparing academic credits, i.e., the "volume of learning based on the defined learning outcomes and their associated workload" for higher education across the European Union and other collaborating European countries. [1]