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I would say that the C&G 2330 is mostly your theoretical study with hands skills modules and your NVQ 3 is all the experience you gather on site. Both are important and are dependent on the other ie; you can't do one without the other. However i have heard of people who have done their AM2 without doing NVQ 3 and only doing 2330 as long as they have some work experience thus saving you a lot of time/money.

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Q: Is an nvq electrotechnical level 3 diploma higher than a city guilds 2330?
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