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All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source. |
| SOUTH AFRICAN QUALIFICATIONS AUTHORITY |
| REGISTERED QUALIFICATION THAT HAS PASSED THE END DATE: |
| National Certificate: Financial Services |
| SAQA QUAL ID | QUALIFICATION TITLE | |||
| 49089 | National Certificate: Financial Services | |||
| ORIGINATOR | ||||
| SGB Insurance and Investment | ||||
| PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY | NQF SUB-FRAMEWORK | |||
| INSETA - Insurance Sector Education and Training Authority | OQSF - Occupational Qualifications Sub-framework | |||
| QUALIFICATION TYPE | FIELD | SUBFIELD | ||
| National Certificate | Field 03 - Business, Commerce and Management Studies | Finance, Economics and Accounting | ||
| ABET BAND | MINIMUM CREDITS | PRE-2009 NQF LEVEL | NQF LEVEL | QUAL CLASS |
| Undefined | 120 | Level 3 | NQF Level 03 | Regular-Unit Stds Based |
| REGISTRATION STATUS | SAQA DECISION NUMBER | REGISTRATION START DATE | REGISTRATION END DATE | |
|
Passed the End Date - Status was "Reregistered" |
SAQA 06120/18 | 2018-07-01 | 2023-06-30 | |
| LAST DATE FOR ENROLMENT | LAST DATE FOR ACHIEVEMENT | |||
| 2024-06-30 | 2027-06-30 | |||
| In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise. |
This qualification replaces: |
| Qual ID | Qualification Title | Pre-2009 NQF Level | NQF Level | Min Credits | Replacement Status |
| 20177 | National Certificate: Insurance | Level 3 | NQF Level 03 | 120 | Complete |
| PURPOSE AND RATIONALE OF THE QUALIFICATION |
| The purpose of the Qualification is to build the knowledge and skills required by multi-skilled employees in administrative and sales positions in the industry and learners in learnerships as part of the implementation of the Financial Services Charter. It is intended to empower learners to acquire knowledge, skills, attitudes and values required to operate confidently as workers in the South African Financial Services Community and to respond to the challenges specific to the Financial Services environment and the changing world of work in the industry. It will open career opportunities for learners in more specialised positions in the different sub sectors at Level 4. It will be useful for:
The Qualification provides a balanced, holistic learning experience that allows flexible access to further education, lifelong learning and to productive employment in the financial services sector or other industries. Rationale for the qualification: The National Certificate in Insurance Administration: Level 3 NLRD No 20177 was registered in 2001 to meet the needs of multiple work roles, organisational requirements and the changing technological nature of the insurance industry. It provided a broad knowledge of the insurance industry and progress along a career path for learners in the insurance industry. The financial services environment has changed substantially since 2001. The introduction of The Financial Advisory and Intermediary Services Act , (Act 37 of 2002 (FAIS) and the Finance Intelligence Centre Act, (Act 38 of 2001 (FICA) has raised awareness about issues of compliance. In addition, The Fit and Proper registration requirements of the Financial Services Board (FSB) require intermediaries to hold certain educational Qualifications. The risk to Financial Service Businesses across the sector if Administrative Personnel are not aware of compliance issues is now of major concern to the industry. Administrative work in the industry, in general, is at Level 3. The Financial Charter was adopted in 2003. As part of the Charter, the Financial Services Industry undertook to offer a number of learnerships in Financial Services to Unemployed Youth. The number of employees in the sector continues to shrink and it is unlikely that the industry will be able to offer employment to the number of people it is required to train in learnerships. In consultations with the Department of Labour it was agreed that the industry should offer learnerships towards a financial services Qualification and provide the opportunity for unskilled and unemployed youth to acquire skills and work experience. It was agreed that the required Qualification should include Life Skills and Entrepreneurship so that the learners are able to seek employment in another sector or start their own businesses. This will help to address the skills shortage in the country and provide opportunities for people who, at present, do not have marketable skills and experience. The proposed National Certificate: Financial Services: Level 3 will enable the industry to fulfill its learnership obligations, A number of Unit Standards that focus on life skills have been included to ensure that the Qualification is fit for purpose. The National Certificate: Financial Services: Level 3 will replace the National Certificate in Insurance: Level 3 when the National Certificate in Insurance: Level 3 reaches the end of its registration period. The proposed qualification has a broader focus than the registered Level 3 Insurance qualification. It is intended for people who work in administrative positions in the Financial Services sector and who require both industry and administrative knowledge and skill in order to operate as skilled workers in a knowledge based industry. It is also intended for intermediaries who market long term products with fixed monthly premiums that provide cover in respect of death, disability and health events and Retirement Annuities with recurring premiums that guarantee a minimum annuity (excluding single premiums). These learners require registration in Category B in terms of FAIS. The National Certificate: Financial Services: Level 3 is flexible enough to be offered in formal education and as occupational-directed workplace based training for learners already employed in the financial services industry and for learners in learnership programmes. The changing nature of the financial services industry requires cross-selling and knowledge of broad based products is therefore essential. The qualification at this level is generic so as to allow maximum mobility between the different sub-sectors of the industry. Learning paths are not indicated although the electives selected will indicate an interest in a possible learning pathway at level 4. The intention is: Qualifying learners should be knowledgeable about and competent in: |
| LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING |
| It is assumed that learners are competent in Communication and Mathematical Literacy at NQF Level 2.
Recognition of prior learning: |
| RECOGNISE PREVIOUS LEARNING? |
| Y |
| QUALIFICATION RULES |
| Level, credits and learning components assigned to the qualification:
The Certificate is made up of a planned combination of learning outcomes that have a defined purpose and will provide qualifying learners with applied competence and a basis for further training. It is a building block for specialised FETC qualifications at Level 4. The Qualification is made up of Unit Standards that are classified as Fundamental, Core and Elective. A minimum of 120 credits is required to complete the Qualification. In this Qualification the credits are allocated as follows With regards to fundamental credits, the following options is applicable: OR Motivation for the number of credits assigned to the Fundamental, Core and Elective Components Fundamental Component There are twenty credits allocated to Communication and sixteen credits to Mathematical Literacy at the level of the Qualification, in compliance with SAQA requirements. For the purpose of this Qualification ten credits are also required for Financial Literacy at Level 3. Although this is not a SAQA requirement, the industry believes that if learners are to function in a field that manages people's money, they should be able to manage their own money. At this level decisions are based on management of own finances including responsibility for dependents. This means that Unit Standards to the value of forty six credits have been included in the Fundamental component. They will add value to learners both socially and economically in terms of Twenty new communication credits are required to ensure that there is a 60% difference between the two qualifications: the National Certificate: Financial Services: Level 3 in the National Certificate: Financial Services: Level 2. The two optional industry contextualised communications Unit standards at Level 3 may therefore may not be offered as fundamental Unit Standards in the National Certificate: Financial Services: Level 3 if they were credited as electives in the National Certificate: Financial Services: Level 2. All the Mathematical Literacy and Financial Literacy Unit Standards at Level 3 designated as Fundamental are compulsory. Three Communication standards are compulsory: Core Component Fifty four credits have been allocated to Unit Standards designated as Core for the purpose of this Qualification. The Unit Standards classified as Core provide the basic knowledge and skills that all workers need to know about the Financial Services industry. They include building blocks for financial services related concepts such as risk, the need for retirement funding, ethics, customer service, relationships, the relationship between needs and products, the implications of current events for the financial services industry, decision making, and time management that are further developed at level 4 and above. They provide an opportunity to develop knowledge of the industry through research and the application of study skills and ensure that the Qualification has a strong Financial Services focus. All the Unit Standards indicated as Core are compulsory. There are five unit standards carrying eleven credits in total that are also Core in the National Certificate: Financial Services: Level 2. This is because it cannot be assumed that all learners will complete the level 2 qualification and learners at level 3 also require competence in these unit standards. There is a Unit Standard on FAIS that focuses on inadvertently giving financial advice and a Unit Standard on money laundering that highlights the responsibility of all individuals under the Financial Intelligence Centre Act (FICA). FAIS and FICA have major implications for financial services organisations and all learners in the industry should be aware of the consequences of non-compliance. As the National Certificate: Financial Services: Level 3 is a generic qualification across the industry and has the potential for application in other work environments Unit Standards that focus on life skills in the world of work have been included in the Core Component. Eleven credits that are core in this qualification are also core in the National Certificate: Financial Services: Level 2. The communications (20) and financial literacy (10) and 43 credits for Level 3 in Core ensure that there is a 60% difference between the National Certificate: Financial Services: Level 2 and National Certificate: Financial Services: Level 3. Elective Component Learners are required to select Electives that add up to at least twenty credits. The Electives have been grouped under the headings: Unit Standards may be selected from the allocated list of Electives. |
| EXIT LEVEL OUTCOMES |
| The National Certificate: Financial Services: Level 3 is intended for personnel already employed in the industry and other learners who intend to follow a career in the financial services sector or a business environment. The focus is on basic operational knowledge, an understanding of the financial services environment and an ability to select appropriate processes and procedures to solve problems and make decisions within clearly defined contexts. Learners are required to apply literacy and numeracy skills to a range of different financial services contexts. They are expected to collect, organise, summarise, interpret and report information from a range of sources and to take a position on available information, discuss issues and explain their standpoints coherently in spoken and written form.
Learners should have the capacity to work within a managed environment. They should be able to manage their time effectively and have the capacity to contribute actively to a team's effectiveness. The Exit Level Outcomes and their Associated Assessment Criteria are the following, which means that the learner will be capable of: 1. Carrying out basic research tasks and applying literacy and numeracy skills to summarise and interpret information from a range of sources within the structure of a financial services organisation and the context of the financial services sector. 2. Managing personal finances and risk. 3. Managing the interrelationship between personal and professional relationships and selecting appropriate procedures and processes to solve problems or make decisions within own level of mandate in performing work related functions and providing customer service in a professional and ethical manner. 4. Explaining the implications and consequences of non-compliance with FAIS and FICA legislation. 5. Applying the basics of computer literacy in a work environment. Exit Level Outcomes for the Critical Cross-Field Outcomes The learner is can demonstrate ability to: In addition this qualification contributes to the full personal development of each learner and the social and economic development of the society at large, by making it the underlying intention of any programme of learning to make the individual aware of the importance of: Table showing the spread of Critical Cross-field Outcomes across the Unit Standards that are classified as Core and Financial Literacy |
| ASSOCIATED ASSESSMENT CRITERIA |
| 1.
Associated Unit Standards 2. Associated Unit Standards 3. Associated Unit Standards 4. Associated Unit Standards: 5. Associated Unit Standards: Integrated assessment: Assessment practices must be fair, transparent, valid and reliable and should ensure that no learner is disadvantaged. Learners who wish to be assessed against the competencies in the Qualification and/or associated Unit Standards should direct enquiries to the relevant ETQA. The focus of assessment must be on the assessment of the learning outcomes rather than learning outputs. The Specific Outcomes guide the learning and training process towards the outcomes on a continuous basis. The purpose is to determine whether the outcomes have been attained. Situations should present a wide range of options. Applications should require significant choices from a wide range of procedures and in a number of contexts. Learning, teaching and assessment are inextricably linked. Where appropriate, assessment of knowledge, skills, attitudes and values indicated in the various Unit Standards should be integrated. Assessment in communication, mathematical literacy and financial literacy should use authentic workplace contexts wherever practical. Assessment has a formative monitoring function. Formative assessment should be used to assess gaps in the learners' skill and knowledge and to indicate where there is a need for expanded opportunities. The goal is to promote learning and to assess the efficacy of the teaching and learning process. Feedback from assessment informs teaching and learning and allows for the critique of outcomes, methodology and materials. Formative assessment is diagnostic and as such it should guide the learner and the trainer. It is continuous and is used to plan appropriate learning experiences to meet the learner's needs. It provides information about problems experienced at different stages in the learning process. As it is criterion referenced, if the learner has met the assessment criteria, he/she has achieved the outcomes. Assessment should also have a summative component. Summative assessment may be used on completion of a Unit Standard, but should not be the only form of assessment. A variety of methods must be used in assessment and tools and activities must be appropriate to the context in which the learner is working. Assessment should take place in an authentic context as far as is possible. Where it is not possible to assess competence in the workplace, simulations, case studies and other similar techniques should be used to provide a context appropriate to the assessment. Integration implies that theoretical and practical components should, where possible, be assessed together. Integrative techniques should be used to assess applied competence. Learners should be required to demonstrate that they can perform the outcomes with understanding and insight. Assessment should ensure that all Specific Outcomes, embedded knowledge and Critical Cross-Field Outcomes are evaluated. Assessment of the Critical Cross-Field Outcomes should be integrated with the assessment of the Specific Outcomes. The Critical Cross-Field Outcomes are implicit in some Unit Standards and programmes should be designed to extend and further reflect the integration. Before The National Certificate: Financial Services: Level 3 is awarded, learners are required to demonstrate competence in the required Unit Standards and complete a summative assessment based on the exit outcomes of the Qualification. |
| INTERNATIONAL COMPARABILITY |
| South Africa has a world class and highly sophisticated financial services sector. Issues of development, access and sustainability are challenges for the sector that are not as evident in developed economies. In selecting countries for international comparison it is important to consider countries where the economic context in which the Qualification is to be used is similar to the South African context. Ideally, South African financial services Qualifications should be compared to Qualifications from a country with a developed economy and a second developing country with an emerging economy in order to include contexts that have similarities to the South African situation. The UK and Malaysia would have been appropriate choices. There are strong links between South African financial services institutions and the UK and in many cases the only Qualifications available to the financial services sector in the past were informed by or recognised by institutions in the UK. Malaysia has a strong financial services sector and would be useful as a comparison of an emerging player in the world economic environment.
In an attempt to do a comparison with a country with an emerging economy, the following international accrediting bodies were investigated using the internet: Regrettably, the South African Qualification could not be compared to a Qualification in a country with an emerging economy because the web sites of the countries considered are either not presented in English or their accreditation systems are based on internal quality management systems and audits and not on alignment with national standards: Study teams for Inseta visited the UK, Ireland and Australia in 2002 and 2003. People from the insurance and investment industry who they met in all three countries were most impressed by the work done by SAQA and the Unit Standards and Qualifications developed for the insurance and investment sector. In all three countries, people consulted indicated that they had nothing to compare with the South African Qualifications and that they would like to benchmark their Qualifications against the South African Qualifications in about three year's time. The National Certificate: Financial Services: Level 3 was compared to two international Qualifications in order to identify whether they achieve the same outcomes. The Qualifications are registered on The following Internet sites were consulted United Kingdom The Qualification and Curriculum Authority (QCA) in the United Kingdom is responsible for standards in education and training. Their site covers the schools curriculum, accreditation and monitoring of Qualifications in schools, colleges and work, plus research and statistics. It provides a list of Qualifications and the awarding bodies but unlike the SAQA site does not provide access to the full Unit Standards. The FS NTO appears to be the UK equivalent of South Africa's Insurance Sector Training and Education Authority. While the standards are not posted on their site, they have published an apprenticeship (learnership) framework, which details the learning pathways of the Qualifications and National Occupational Standard titles for the apprenticeship. The elements (specific outcomes) and Performance (assessment) criteria of these standards were sourced by cross referencing the National Occupational Standards against one of the UK's leading accredited provider's, EDEXEL's Qualifications. The National Certificate: Financial Services: Level 3 was compared against the NVQ Advanced Modern Apprenticeship at level 3 because it has similar level descriptors. Competence at level 3 (UK) involves the: Competencies which involve the application of knowledge and skills in a broad range of varied work activities performed in a wide variety of contexts, most of which are complex and non-routine. There is considerable responsibility ad autonomy and control or guidance of others is often required. There are two learnerships provided by the FS NTO: 1. An Advanced Modern Apprenticeship (England) and Modern Apprenticeship (Wales) 2. An Advanced Modern Apprenticeship for Providing Financial Services (England) and Modern Apprenticeship for Providing Financial Services (Wales) (Banks and Building Societies) These provide new entrants to commerce and industry (Insurance and Banking) with the opportunity to gain a broad base of high quality knowledge and skills relevant to their chosen career. It is also designed to assist young people already working within industry, with the opportunity of a vocational training route towards further industry-relevant qualifications. There are five apprenticeships at level 3: Apprenticeship available on the learning streams An Advanced Modern Apprenticeship (England) and Modern Apprenticeship (Wales) The Advanced Modern Apprenticeship for Providing Financial Services (England) and Modern Apprenticeship for Providing Financial Services (Wales) (Banks and Building Societies). 5 specialist streams-4 specialist streams Australia The Australian Government's National Training Information Service website provides information on the Qualifications, Qualification Structures and the Unit Standards used. The National Certificate: Financial Services: Level 3 was compared to the three learning pathways available on the AQF level 3 framework: The level descriptors on the Australian level 3 have similar outcomes to the SA descriptors, as follows: Note: The financial services certificates and qualifications are currently under review in Australia. Industry Units are currently in the editorial stage of the Financial Services Review. This is a formal stage undertaken prior to endorsement of the units. The industry has endorsed 15 new qualifications and 116 new units of competency for all the units (standards). The review of their units is currently with their relevant government body for sign off - see process below for current status of review. However, these units are currently not available on the web site. Therefore the units for the purpose of this comparison are based on the existing units comprising the three abovementioned Level 3 certificates. Current Status (AQF financial standards) Comparison / findings 1. Fundamentals: UK: Fundamentals are referred to as Key Skill Units on the NVQ, and are certified separately. For both specialist streams, only one key skill is accredited at level 3. Key Skills (England and Wales) An Advanced Modern Apprenticeship (England) and Modern Apprenticeship (Wales)-The Advanced Modern Apprenticeship for Providing Financial Services (England) and Modern Apprenticeship for Providing Financial Services (Wales) (Banks and Building Societies) There is no evidence of a fundamental component in the design of the Australian certificate, although their Industry core standards are differentiated from their core standards, and could thus indicate that they are viewed as we view our fundamentals. On the NVQ learners need to achieve "Application of Number Level 2". The performance criteria call for work-based evidence, but the outcomes are not contextualised for the insurance environment. The SA level descriptors indicate a higher level of competence than those required of a learner competent on the NVQ. The Application of number level 2 on the NVQ is about applying number skills in a substantial activity that involves a series of straightforward tasks. Unit Standards in the Australian certificate (both core and electives) have mathematical literacy as embedded knowledge (units of competency) in some of the standards, e.g. Balance cash holdings and Process claims payments. The key skill unit under the UK framework Communication Level 3 includes the following outcomes: There are also further mandatory units that include communication outcomes: And under the optional units the following have communication components: The South African communication Unit Standards for level 3 have an option that allows for communication to be contextualised in a business or workplace environment. As indicated, the Australian framework does not have a fundamental component but some of their core and elective standards have communication outcomes that correspond to the SA communications Unit Standards in the Financial Services Qualification. These include but are not limited to listening, questioning, reading and writing skills. Furthermore one of their industry core units is: "communicate in the workplace", which has verbal, listening and written components. The financial literacy unit standards on the SA qualification ensure entry level financial related competencies for learners, and also ensure that individuals are able to apply the financial literacy concepts to their own lives to be financially responsible and therefore more productive and responsible employees. I.e. the industry requires financially responsible and empowered employees to work with their client's money and investments. Whilst there are no similar unit standards on the NVQ or AQF, financial literacy competencies are embedded in the unit standards that comprise their certificates. However, the application of these competencies does not extend to learners own life. Core learning In the UK there are nine streams of learning within the two apprenticeships at level 3: The core units for these learning pathways are described as mandatory units, and cross reference to the National Certificate: Financial Services: Level 3 in that they: In Australia there are three streams of learning at level 3: All three streams have six industry core units that correlate to some of the proposed SA Insurance fundamental, and some of the Financial Services related personal development standards: These units are: Core standards on the SA framework for which there are no matches on the two international frameworks: Comparison of Electives in the three Qualifications Both international frameworks have standards that have synergies with the outcomes of the SA units. The NVQ requires that key skills, including information technology be included in the NVQ's. In addition there is a compulsory core IT unit that all learners must do to obtain the level 3 Qualification. There are further optional units (depending on the learning pathway) that test competence of various computer knowledge and skills. There are equivalent NVQ standards for all the South African Standards in the National Certificate: Financial Services: Level 3. On the AQF there is one Unit Standard in the core for use of technology which is very broad, and covers a range of the SA outcomes. These include, but are not limited to, selecting appropriate technology, ability to operate various software packages, legislation around information and confidentiality and care of equipment. Bookkeeping and accounting competencies are included in the UK Administration stream of learning and the elective units of the certificate 3 on financial services and the core units of the certificate 3 financial services (accounts clerical) on the AQF. Long term concepts and competencies correlate across the three frameworks adequately relating to Life offices and Group benefits. However there are no standards for Healthcare benefits, Medical Aid and funeral insurance. UK: The QCA has a qualification listed on its database with the Chartered Insurance Institute called: Financial Planning Certificate. One of its units is "Protection, savings and investment products", which may cover some of the investment outcomes of the SA qualification. (The standards are not freely available for viewing) Australia: There are no standards in the qualifications researched for competencies around Collective Investment Schemes Short term concepts correlate across the three frameworks adequately. There are not separate standards for competencies regarding legislation in the international standards, but legislation is indicated as the qualifiers or measures of performance for their performance criteria or elements (assessment criteria). i.e. learners would have to apply knowledge of legislation to meet the outcomes. There are specialist streams on both international frameworks for Sales and marketing and providing financial advice. As with FAIS compliance they have strict licensing requirements for any person providing financial advice or planning. In terms of transferring SA credits and qualifications to the UK and Australia, there may be further licensing requirements for certification. There are more electives to choose from in this category in the SA qualification. The NVQ has the following standards that correlate: There is no evidence of correlating standards on the AQF meeting the same outcomes as those in standards grouped as financial services related personal development in the National Certificate: Financial Services: Level 3. On the NVQ there is one optional standard: "Lead the Work of Teams and Individuals to achieve their Objectives" resulting in leadership competencies for the competent learner. There are no leadership standards in the learning pathways for the level 3 qualifications on the AQF. The SA qualification acknowledges that there are employees who are responsible for the output for others, operating at level 3 by providing a broader selection of leadership standards. Conclusion The proposed National Certificate: Financial Services: Level 3 can be confidently compared to the UK's Level 3 Advanced Modern Apprenticeship and the Australian Certificates 3 in Financial Services, with the exception of funeral and health care or medical aid benefits which are not included in the international qualifications. There are no separate Qualifications covering these areas and it could be that the South African classification of assistance policies (funeral and medical schemes) under long term insurance is unusual. The International qualifications includes learning pathways and/or for learners in the banking sub-sectors. The SA qualification offers more flexibility in the choice of standards and learning pathways, as the NVQ and AQF streams are very structured with little choice when it comes to the optional standards. Both the NVQ and AQF standards focus on steps in the processes in an insurance environment such as Pay a claim, and Process a new business proposal. The competency-based nature of the SA Unit Standards makes them more sustainable, as processes can become outdated. There is also more focus on personal development and empowerment of the learner in the South African Qualification. i.e. the focus in not limited to work based competencies, but to increasing competency of the learner as a whole person. On the whole, the learners exiting any of the three Qualifications compared will have similar core competencies at similar levels to the learner exiting with this South African Qualification. However, the specialisation of the different UK and Australian fields of learning make the certificates more rigid and there may be a few gaps in terms of specialisation knowledge. |
| ARTICULATION OPTIONS |
| This Qualification articulates horizontally with:
It articulates vertically with: Fundamental Competencies gained in Communication and Mathematical Literacy in this Qualification will enable the learner to access any Qualification at NQF Level 4 in which he/she shows an interest. |
| MODERATION OPTIONS |
| This Qualification will be internally assessed and externally moderated by a moderator registered by a relevant accredited ETQA or an ETQA that has a Memorandum of Understanding with the relevant accredited ETQA.
|
| CRITERIA FOR THE REGISTRATION OF ASSESSORS |
| This Qualification will be internally assessed by the provider and moderated by a moderator registered by a relevant accredited ETQA or an ETQA that has a Memorandum of Understanding with the relevant accredited ETQA.
|
REREGISTRATION HISTORY |
| As per the SAQA Board decision/s at that time, this qualification was Reregistered in 2012; 2015. |
| NOTES |
| This Qualification has replaced 20177 'National Certificate: Insurance', Level 3, Credits 120. |
| UNIT STANDARDS: |
| ID | UNIT STANDARD TITLE | PRE-2009 NQF LEVEL | NQF LEVEL | CREDITS | |
| Core | 113924 | Apply basic business ethics in a work environment | Level 2 | NQF Level 02 | 2 |
| Core | 114974 | Apply the basic skills of customer service | Level 2 | NQF Level 02 | 2 |
| Core | 113904 | Explain how money laundering legislation impacts on monetary transactions in South Africa | Level 2 | NQF Level 02 | 2 |
| Core | 113918 | Explain the implications of the Financial Advisors and Intermediaries Services` Act, (FAIS) for employees in financial services organisations | Level 2 | NQF Level 02 | 2 |
| Core | 114962 | Investigate the structure of a financial services workplace | Level 2 | NQF Level 02 | 3 |
| Core | 114952 | Apply problem-solving techniques to make a decision or solve a problem in a real life context | Level 3 | NQF Level 03 | 2 |
| Core | 114943 | Describe how to manage workplace relationships | Level 3 | NQF Level 03 | 2 |
| Core | 113922 | Explain the structure of the financial services industry in South Africa | Level 3 | NQF Level 03 | 3 |
| Core | 114985 | Indicate how different needs lead to the development of different Financial Service products | Level 3 | NQF Level 03 | 4 |
| Core | 117125 | Interpret current affairs related a selected business sub sector | Level 3 | NQF Level 03 | 10 |
| Core | 114960 | Investigate the need to provide financially for own retirement | Level 3 | NQF Level 03 | 3 |
| Core | 114984 | Manage electronic mail in a business environment | Level 3 | NQF Level 03 | 2 |
| Core | 114970 | Manage risk in own life | Level 3 | NQF Level 03 | 3 |
| Core | 117171 | Manage time effectively to enhance productivity and enable a balanced lifestyle | Level 3 | NQF Level 03 | 2 |
| Core | 114979 | Operate a computer workstation in a business environment | Level 3 | NQF Level 03 | 2 |
| Core | 8986 | Research the history of the Financial Services Industry in South Africa | Level 3 | NQF Level 03 | 10 |
| Fundamental | 9302 | Access information in order to respond to client enquiries in a financial services environment | Level 3 | NQF Level 03 | 2 |
| Fundamental | 8968 | Accommodate audience and context needs in oral communication | Level 3 | NQF Level 03 | 5 |
| Fundamental | 9303 | Communicate verbally with clients in a financial environment | Level 3 | NQF Level 03 | 3 |
| Fundamental | 9010 | Demonstrate an understanding of the use of different number bases and measurement units and an awareness of error in the context of relevant calculations | Level 3 | NQF Level 03 | 2 |
| Fundamental | 9013 | Describe, apply, analyse and calculate shape and motion in 2-and 3-dimensional space in different contexts | Level 3 | NQF Level 03 | 4 |
| Fundamental | 10713 | Identify possible ways of improving employment prospects | Level 3 | NQF Level 03 | 3 |
| Fundamental | 8969 | Interpret and use information from texts | Level 3 | NQF Level 03 | 5 |
| Fundamental | 9012 | Investigate life and work related problems using data and probabilities | Level 3 | NQF Level 03 | 5 |
| Fundamental | 10712 | Manage personal expenditure | Level 3 | NQF Level 03 | 3 |
| Fundamental | 10714 | Research costs associated with marriage, birth, divorce and death in own circumstances | Level 3 | NQF Level 03 | 4 |
| Fundamental | 8973 | Use language and communication in occupational learning programmes | Level 3 | NQF Level 03 | 5 |
| Fundamental | 7456 | Use mathematics to investigate and monitor the financial aspects of personal, business and national issues | Level 3 | NQF Level 03 | 5 |
| Fundamental | 8970 | Write texts for a range of communicative contexts | Level 3 | NQF Level 03 | 5 |
| Elective | 114957 | Contribute to the health, safety and security of a financial services workplace | Level 2 | NQF Level 02 | 2 |
| Elective | 11816 | Demonstrate knowledge and understanding of the rights and responsibilities of the individual under the South African Constitution | Level 2 | NQF Level 02 | 2 |
| Elective | 11817 | Demonstrate knowledge and understanding of the structures that reinforce and support human rights in South Africa | Level 2 | NQF Level 02 | 3 |
| Elective | 114973 | Identify the types of records required in the financial services industry and indicate why it is necessary to create evidence | Level 2 | NQF Level 02 | 2 |
| Elective | 119912 | Investigate credit in own circumstances | Level 2 | NQF Level 02 | 3 |
| Elective | 114971 | Maintain an existing information system in a financial services environment | Level 2 | NQF Level 02 | 2 |
| Elective | 119913 | Use a personal budget to manage own money | Level 2 | NQF Level 02 | 3 |
| Elective | 117104 | Administer a long term insurance claim | Level 3 | NQF Level 03 | 2 |
| Elective | 117108 | Administer basic asset related transactions | Level 3 | NQF Level 03 | 5 |
| Elective | 117124 | Administer basic asset related transactions in a Retirement Fund | Level 3 | NQF Level 03 | 3 |
| Elective | 117116 | Administer basic client related transactions in a Collective Investment Scheme Manager or Linked Investment Service Provider (LISP) | Level 3 | NQF Level 03 | 10 |
| Elective | 117423 | Administer credit purchase transactions | Level 3 | NQF Level 03 | 3 |
| Elective | 117422 | Administer credit sales transactions | Level 3 | NQF Level 03 | 3 |
| Elective | 117419 | Administer income and receipts | Level 3 | NQF Level 03 | 4 |
| Elective | 117136 | Administer long term employee benefits and medical scheme membership | Level 3 | NQF Level 03 | 3 |
| Elective | 117420 | Administer payments and expenses | Level 3 | NQF Level 03 | 4 |
| Elective | 117111 | Apply knowledge of basic accounting principles to financial services | Level 3 | NQF Level 03 | 4 |
| Elective | 117424 | Calculate and record value added tax transactions | Level 3 | NQF Level 03 | 5 |
| Elective | 117425 | Compile reconciliation statements | Level 3 | NQF Level 03 | 6 |
| Elective | 117421 | Demonstrate basic accounting concepts | Level 3 | NQF Level 03 | 12 |
| Elective | 117141 | Describe healthcare cover in South Africa | Level 3 | NQF Level 03 | 2 |
| Elective | 114983 | Describe life insurance | Level 3 | NQF Level 03 | 3 |
| Elective | 117130 | Explain aviation insurance | Level 3 | NQF Level 03 | 2 |
| Elective | 117132 | Explain basic economics | Level 3 | NQF Level 03 | 3 |
| Elective | 117135 | Explain insurance transactions specific to Lloyd's of London | Level 3 | NQF Level 03 | 2 |
| Elective | 117146 | Indicate the scope of life insurance in South Africa | Level 3 | NQF Level 03 | 4 |
| Elective | 117134 | Indicate the scope of short term insurance in South Africa | Level 3 | NQF Level 03 | 3 |
| Elective | 117128 | Investigate the upside and downside business risk in hand held electronic devices. | Level 3 | NQF Level 03 | 3 |
| Elective | 117133 | Manage own work performance in relation to an organisation's performance management system | Level 3 | NQF Level 03 | 2 |
| Elective | 117427 | Prepare general ledger accounts and initial trial balance | Level 3 | NQF Level 03 | 5 |
| Elective | 117418 | Understand the Petty Cash system | Level 3 | NQF Level 03 | 3 |
| Elective | 117123 | Analyse different group retirement products | Level 4 | NQF Level 04 | 2 |
| Elective | 117120 | Analyse the Pension Funds Act as it applies to the administration of retirement funds | Level 4 | NQF Level 04 | 3 |
| Elective | 117122 | Analyse the role of group retirement benefits in the insurance industry | Level 4 | NQF Level 04 | 2 |
| Elective | 117126 | Apply knowledge and insight into aspects of the Long Term Insurance Act, Act 52 of 1998 | Level 4 | NQF Level 04 | 2 |
| Elective | 117121 | Apply knowledge and insight into the Short Term Insurance Act (No 53 of 1998) and the accompanying regulations | Level 4 | NQF Level 04 | 3 |
| Elective | 117149 | Apply knowledge and insight into the statutory cover afforded under the Compensation for Occupational Injuries and Diseases Act, 130 of 1993, as amended (COIDA) | Level 4 | NQF Level 04 | 3 |
| Elective | 117118 | Apply knowledge of the current Medical Schemes Act and the accompanying regulations | Level 4 | NQF Level 04 | 3 |
| Elective | 113921 | Apply knowledge of the sales cycle in wealth management | Level 4 | NQF Level 04 | 3 |
| Elective | 117129 | Apply the regulations for disclosure that are required as part of the financial sales process | Level 4 | NQF Level 04 | 2 |
| Elective | 12164 | Demonstrate knowledge and insight of the Financial Advisory and Intermediary Services Act (FAIS) (Act 37 of 2002) | Level 4 | NQF Level 04 | 2 |
| Elective | 117127 | Describe and apply the basic principles of personal income tax | Level 4 | NQF Level 04 | 3 |
| Elective | 117137 | Describe group insured benefits | Level 4 | NQF Level 04 | 2 |
| Elective | 117117 | Describe standard insurance cover in terms of SASRIA | Level 4 | NQF Level 04 | 4 |
| Elective | 117241 | Develop a business plan for a small business | Level 4 | NQF Level 04 | 5 |
| Elective | 117131 | Explain the legislation relating to marriage, divorce and maintenance as it applies to retirement benefits | Level 4 | NQF Level 04 | 2 |
| Elective | 117155 | Explain the scope of the Compensation for Occupational Injuries and Diseases Act 130 of 1993 (COIDA) | Level 4 | NQF Level 04 | 2 |
| Elective | 117215 | Explain the use of coding in Healthcare Benefits Administration | Level 4 | NQF Level 04 | 4 |
| Elective | 117156 | Interpret basic financial statements | Level 4 | NQF Level 04 | 4 |
| Elective | 117244 | Investigate the possibilities of establishing and running a small business enterprise (SMME) | Level 4 | NQF Level 04 | 3 |
| Elective | 117158 | Investigate ways of managing financial risk in own lives | Level 4 | NQF Level 04 | 5 |
| LEARNING PROGRAMMES RECORDED AGAINST THIS QUALIFICATION: |
| When qualifications are replaced, some (but not all) of their learning programmes are moved to the replacement qualifications. If a learning programme appears to be missing from here, please check the replaced qualification. |
| NONE |
| PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS QUALIFICATION: |
| This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here. |
| 1. | African Resources & Financial Training (Pty) Ltd |
| 2. | CKP Development Agency (Pty) Ltd |
| 3. | Faisit (Pty) Ltd |
| All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source. |