INTERNATIONAL JOURNAL OF RESEARCH AND INNOVATION IN SOCIAL SCIENCE (IJRISS)
ISSN No. 2454-6186 | DOI: 10.47772/IJRISS | Volume IX Issue XV November 2025 | Special Issue on Economics
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Assessing Financial Competency through Learning Outcome
Attainment among Learners in Strategic Financial Management
Module
Nazimah Hussin
Azman Hashim International Business School, Universiti Teknologi Malaysia
DOI: https://dx.doi.org/10.47772/IJRISS.2025.915EC00771
Received: 01 December 2025; Accepted: 07 December 2025; Published: 22 December 2025
ABSTRACT
Learning outcomes serve as the benchmark for evaluating learner competency and a critical component of the
Malaysian Qualifications Framework, especially in technical fields such as finance. This study aimed to assess
the attainment based on Program Learning Outcomes outlined by MQF 2.0. In particular, the study assessed four
Program Learning Outcomes, namely PLO1, PLO2, PLO7, and PLO11 among 24 staff members who completed
a Strategic Financial Management module. These outcomes reflect knowledge, cognitive ability, quantitative
reasoning, and ethical professionalism, respectively. Using actual assessment scores, this study evaluates overall
competency levels and performance across learners. Results indicate that learners achieved high competency
across all four PLOs, with the strongest attainment in PLO1 and the lowest in PLO2. The study concludes that
structured finance education aligned with MQF 2.0 contributes positively to competency development,
supporting the need for continuous curriculum refinement to strengthen quantitative, analytical, and ethical
financial decision-making capabilities among learners.
Keywords: Learning Outcome, MQF 2.0, Strategic Financial Management, Module, Competency
INTRODUCTION
Learning outcomes are central to the Malaysian higher education ecosystem and critically define what learners
should know and be able to do after completing a module or program. Under the Malaysian Qualifications
Framework (MQF) 2.0, these outcomes serve to ensure that graduates acquire relevant and industry-aligned
skills, knowledge, and professional attributes (Malaysian Qualifications Agency, 2020).
In the modern economic environment, financial competency is crucial not only for business professionals but
also for organizational decision-makers who interact with financial information (Bodie & Merton, 2014).
Finance is a key discipline within business studies, requiring mastery of analytical reasoning, financial literacy,
quantitative analysis, and ethical judgment. This study focuses on evaluating competencies among 24 staff
members who completed a finance module, namely Strategic Financial Management. The module integrates
essential financial concepts, analytical strategies, corporate governance perspectives, and ethical considerations,
aligned with four Program Learning Outcomes (PLOs) of MQF 2.0. Noting the importance of competency levels
based on the PLOs, the objective of this study is to assess the level of competency achieved by learners based
on the four mapped PLOs.
LITERATURE REVIEW
MQF 2.0 positions learning outcomes as measurable indicators of knowledge, skills, and competencies gained
after completing a learning process (MQA, 2020). The framework delineates eleven Programme Learning
Outcome (PLO) categories encompassing technical, cognitive, interpersonal, ethical, and entrepreneurial
competencies. Hussin (2025) has outlined the eleven PLOs in her study.
Financial competency includes the ability to interpret financial statements, evaluate corporate performance,
apply quantitative tools, and make ethical financial decisions (Bodie & Merton, 2014). Research indicates that
INTERNATIONAL JOURNAL OF RESEARCH AND INNOVATION IN SOCIAL SCIENCE (IJRISS)
ISSN No. 2454-6186 | DOI: 10.47772/IJRISS | Volume IX Issue XV November 2025 | Special Issue on Economics
Page 1561
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finance education plays a critical role in developing decision-making capabilities needed in complex financial
environments (Alvarez & Yáñez, 2018). Additionally, a study by Siddiqui (2020) shows that group context
influences cognitive and performance outcomes in finance education.
Finance modules typically contribute to cognitive development, Quantitative skills and Ethical and professional
reasoning (Williams & Dobelman, 2017). Cognitive development through analysis of financial issues, risk
assessment, and strategic evaluation. Quantitative skills through numerical computation, forecasting, and
financial modelling. Ethical and professional reasoning through understanding corporate governance,
responsibility, and decision integrity. These can be aligned with PLO1, PLO2, PLO7, and PLO11 in the MQF
2.0.
At Azman Hashim International Business School, Universiti Teknologi Malaysia (AHIBS UTM), the MBA is
one of the postgraduate programs offered. A student must complete 15 modules to earn the MBA degree, and
one of these modules is Strategic Financial Management, a core module in the program. The module addresses
four PLOs, which are listed as follows:
PLO1 – Knowledge and Understanding
PLO2 – Cognitive Skills
PLO7 – Numeracy Skills
PLO11 – Ethics and Professionalism
Research Methodology
This study applies a quantitative descriptive research design. Assessment data were extracted from the class
performance records for 24 participants completing the Strategic Financial Management module, selected from
a specialized group of high achievers who were sponsored by their company. The dataset included scores from
PLO1, PLO2, PLO7 and PLO11. Data were analyzed using average score and percentage for each PLO,
interpretation based on competency levels and descriptive findings aligned with MQF 2.0 learning outcome
expectations.
FINDINGS
The findings of learner performance across the four assessed Programme Learning Outcomes (PLOs) as shown
in Table 1, demonstrates generally strong attainment levels. The average total score was 84.80 out of 100,
indicating that learners achieved a high overall competency level across the evaluated domains.
Table 1: Learners’ Performance in Strategic Financial Management Module
LEARNER
PLO1
PLO2
PLO7
PLO11
GRADE
1
18.00
24.00
15.67
25.50
A
2
18.00
21.50
17.67
25.50
A
3
18.00
21.00
18.00
27.60
A
4
18.00
28.50
20.00
25.50
A+
5
18.00
27.00
15.67
25.50
A
6
18.00
22.75
16.50
27.60
A
INTERNATIONAL JOURNAL OF RESEARCH AND INNOVATION IN SOCIAL SCIENCE (IJRISS)
ISSN No. 2454-6186 | DOI: 10.47772/IJRISS | Volume IX Issue XV November 2025 | Special Issue on Economics
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7
18.00
21.00
19.33
27.60
A
8
18.00
22.50
17.50
25.50
A
9
18.00
20.00
19.33
27.60
A
10
18.00
19.00
15.33
25.50
A-
11
18.00
21.50
18.33
25.50
A
12
18.00
25.50
19.67
25.50
A
13
18.00
24.00
15.67
25.50
A
14
18.00
21.50
17.67
25.50
A
15
18.00
21.00
18.00
27.60
A
16
18.00
22.50
17.50
25.50
A
17
18.00
20.00
19.33
27.60
A
18
18.00
19.00
15.33
25.50
A-
19
18.00
21.50
18.33
25.50
A
20
18.00
25.50
19.67
25.50
A
21
18.00
28.50
20.00
25.50
A+
22
18.00
27.00
15.67
25.50
A
23
18.00
22.75
16.50
27.60
A
24
18.00
21.00
19.33
27.60
A
TOTAL
SCORE
432.00
548.50
426.00
628.80
AVERAGE
SCORE
18.00
22.85
17.75
26.20
FULL
SCORE
20.00
30.00
20.00
30.00
AVERAGE
PLO %
90.00
76.18
88.75
87.33
Performance was strongest for PLO1 (Knowledge and Understanding), with learners achieving 18.00 out of 20,
equivalent to 90% of the full score. This suggests that foundational knowledge acquisition and conceptual
understanding are well-established among the learners.
For PLO2 (Cognitive Skills), the average score reached 22.85 out of 30 (76.18%). Although this still reflects
satisfactory achievement, the relative decrease compared to other PLOs may indicate that higher-order cognitive
processes such as analysis, synthesis, and critical evaluation that require further reinforcement.
INTERNATIONAL JOURNAL OF RESEARCH AND INNOVATION IN SOCIAL SCIENCE (IJRISS)
ISSN No. 2454-6186 | DOI: 10.47772/IJRISS | Volume IX Issue XV November 2025 | Special Issue on Economics
Page 1563
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Additionally, learners also demonstrated strong competence in PLO7 (Numeracy Skills), scoring 17.75 out of
20 (88.75%). This reflects a solid ability to apply quantitative reasoning and perform numerical tasks relevant
to the programme.
Achievement in PLO11 (Ethics and Professionalism) was also high, with an average score of 26.20 out of 30
(87.33%), indicating that learners exhibit a commendable understanding of ethical conduct and professional
responsibilities.
PLO1 and PLO7 show excellent foundational and quantitative mastery. PLO2, although good, suggests a need
for enhanced deep analysis and evaluation-based learning. PLO11 scored the second highest, indicating strong
ethical clarity and reflective judgment among learners. Variations on the learner’s achievement may be due to
different academic background, learning engagement levels, prior financial knowledge and group dynamics.
Overall, the findings show that learners performed consistently well across the four PLOs, with particularly
strong results in knowledge acquisition, numeracy, and ethical understanding. The comparatively lower
performance in cognitive skills highlights a potential area for pedagogical enhancement, especially in fostering
deeper analytical and critical thinking capacities.
CONCLUSION
This study evaluated financial competency among learners enrolled in a Strategic Financial Management module
using PLOs from MQF 2.0. Findings indicate that learners demonstrated high competency in knowledge,
numeracy, and ethical decision-making, with strong overall PLO attainment. The results reinforce the
importance of MQF-aligned module design in enhancing financial literacy, cognitive reasoning, and professional
judgment. Despite these informed findings, this study involved learners from one module with score attainment,
hence, further research may compare multiple cohorts, include qualitative reflections, and examine long-term
retention of financial competency.
ACKNOWLEDGMENT
The author gratefully acknowledges the partial support provided by a research project funded by Kumpulan
Wang Persaraan (Diperbadankan), titled "Exploring Business and Financial Competencies among Talents,"
under Cost Center Number R.K130000.7355.1R093. The author also acknowledges the use of ChatGPT.
REFERENCES
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5. Siddiqui, Q. (2020). Measuring learning outcome effectiveness in finance education. International
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