Bachelor's degree
Until the 19th century, a bachelor's degree represented the first degree in a particular faculty, with Arts representing undergraduate study, thus the Bachelor of Civil Law (BCL) at Oxford and the Bachelor of Laws (LLB) at Cambridge, for example, were postgraduate degrees. Vestiges of this system still remain in the ancient universities, with Oxford and Cambridge awarding BAs for undergraduate degrees in both arts and sciences (although both award undergraduate BTh degrees through associated theological colleges, and Oxford awards BFA degrees in addition to the BA) and defining other bachelor's degrees (e.g. BPhil, BCL) as postgraduate awards equivalent to master's degrees, although many postgraduate bachelor's degrees have now been replaced by equivalent master's degrees (e.g. LLM for the LLB at Cambridge and MSc for the BSc at Oxford). The same historical usage of indicating an undergraduate degree by it being in the faculty of arts rather than being a bachelor's degree gives rise to the Oxbridge MA and the Scottish MA).
Licentiate (degree)
The third cycle was sometimes called postgrado. Note, however, that the label "undergraduate" may be misleading to an anglophone audience, since while a Spanish "Diplomatura" may be likened to an undergraduate Bachelor's degree, a Spanish "Licenciatura" is comparable in scope to a postgraduate Master's degree, as the anglophone distinction between "undergraduate" and "postgraduate" degrees does not properly apply to the traditional higher-education system of Spain. Many Spanish "licenciados", when translating their CVs into English, use the formula BA+MA (or BSc+MSc) to indicate that a "Licenciatura" is equivalent to a master's degree. Depending on the degree and study plan, some Spanish universities require a small thesis or research project to be submitted in the last year before the student can finally claim his or her degree.