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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD: 

Describe the sales function in a Collective Investment Scheme Manager or Linked Investment Service Provider (Lisp) 
SAQA US ID UNIT STANDARD TITLE
243151  Describe the sales function in a Collective Investment Scheme Manager or Linked Investment Service Provider (Lisp) 
ORIGINATOR
SGB Insurance and Investment 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Finance, Economics and Accounting 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 4  NQF Level 04 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Reregistered  2018-07-01  2023-06-30  SAQA 06120/18 
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 unit standard replaces: 
US ID Unit Standard Title Pre-2009 NQF Level NQF Level Credits Replacement Status
12180  Describe the sales function in a Collective Investment Scheme Manager  Level 4  NQF Level 04   

PURPOSE OF THE UNIT STANDARD 
This Unit Standard introduces the sales function as it applies to collective investment scheme portfolios. It deals with the knowledge and skill needed to understand and manage relationships and service levels with intermediaries and investors and will be useful for Broker Consultants, Call Centres Agents, Sales Support and Promotional Staff, but excludes the function of providing advice.

The qualifying learner is capable of:
  • Demonstrate knowledge and understanding of the different sales functions in the collective investment industry.
  • Describing the service levels offered to intermediaries by collective investment scheme managers.
  • Describing the functions and related service levels of an institutional sales person.
  • Demonstrate knowledge and understanding the role of the marketing or research division within a Collective Investment Scheme Manager. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    It is assumed that learners are competent in Communication and Mathematical Literacy at Level 3. 

    UNIT STANDARD RANGE 
    The typical scope of this Unit Standard is the wholesale and retail markets excluding advice. 

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Demonstrate knowledge and understanding of the different sales functions in the collective investment industry. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The different sales functions are listed and classified in terms of whether they are aimed at the retail or wholesale market. 

    ASSESSMENT CRITERION 2 
    The wholesale market is described with reference to a profile of an institutional investor. 

    ASSESSMENT CRITERION 3 
    The retail market is described with reference to a profile of a smaller investor and the licensing requirements necessary to give advice under the Financial Advisory and Intermediary Services Act (FAIS). 

    SPECIFIC OUTCOME 2 
    Describe the service levels offered to intermediaries by collective investment scheme managers. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The role of an intermediary is explained with reference to responsibilities to the investor base and the Collective Investment Scheme Manager. 

    ASSESSMENT CRITERION 2 
    The role of a broker consultant is explained and an indication given of the relationship between the broker consultant and the Collective Investment Scheme Manager. 

    ASSESSMENT CRITERION 3 
    The process followed by the intermediary in the sale of participatory interest in a collective investment scheme portfolio is reported based on an observation. 

    ASSESSMENT CRITERION 4 
    A broker consultant is interviewed and the elements involved in servicing a financial advisor by a broker consultant are identified and presented with reference to ways in which service levels could be improved on the part of the Collective Investment Scheme Manager. 

    SPECIFIC OUTCOME 3 
    Describe the functions and related service levels of an institutional sales person. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The role of an institutional sales person is explained with examples. 

    ASSESSMENT CRITERION 2 
    The way in which service levels are agreed is explained with reference to institutional investors or investment managers. 

    ASSESSMENT CRITERION 3 
    The process in establishing agreed service levels is outlined for a contract with a particular institutional investor. 

    ASSESSMENT CRITERION 4 
    The kind of service provided to an institutional investor is explained in terms of monitoring quality, providing financial records and resolving problems. 

    ASSESSMENT CRITERION 5 
    Ways in which an institutional sales person manages the relationship with the institutional investor are explained with reference to technical financial information, field enquiries and providing a tailored information service. 

    SPECIFIC OUTCOME 4 
    Demonstrate knowledge and understanding of the role of a marketing or research division within a Collective Investment Scheme Manager. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The role of a marketing or research division is described in terms of value added to a sales force. 

    ASSESSMENT CRITERION 2 
    The activities of a marketing or research division are investigated and an assessment made of the value of each activity to the sales force. 

    ASSESSMENT CRITERION 3 
    Advertisements and other promotional material are analysed in terms of effectiveness and the message that it conveys to the public about a Collective Investment Scheme Manager. 

    ASSESSMENT CRITERION 4 
    Mandatory disclosures on advertisements and other promotional materials are assessed in terms of compliance with the Association of Collective Investments (ACI) advertising standard. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
  • Anyone assessing a candidate against this Unit Standard must be registered as an assessor with the relevant ETQA or ETQA where a Memorandum of Understanding (MOU) exists with the relevant ETQA.
  • Any institution offering learning that will enable achievement of this Unit Standard must be accredited as a provider through the relevant ETQA or ETQA where a Memorandum of Understanding (MOU) exists with the relevant ETQA.
  • Moderation of assessment will be overseen by the relevant ETQA according to the moderation guidelines and the agreed ETQA procedures. 

  • UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
    N/A 

    UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Learners can identify and solve problems in which responses show that responsible decisions using critical and creative thinking have been made in investigating how service levels can be improved and analysing promotional material for compliance. 

    UNIT STANDARD CCFO WORKING 
    Learners can work effectively with others as a member of a team, group, organisation or community in investigating the servicing of financial advisors and explaining how to manage a relationship with an institutional investor. 

    UNIT STANDARD CCFO ORGANISING 
    Learners can organise and manage their own activities responsibly and effectively in arranging interviews and completing the information gathering and assessment activities required in this Unit Standard. 

    UNIT STANDARD CCFO COLLECTING 
    Learners can collect, organise and critically evaluate information in assessing promotional material and mandatory disclosures and ways in which service levels could be improved. 

    UNIT STANDARD CCFO COMMUNICATING 
    Learners can communicate effectively using visual, mathematics and language skills in the modes of oral and/or written presentations in demonstrating ways in which an institutional sales person manages his/her relationship with the institutional investor and reporting on service levels. 

    UNIT STANDARD CCFO DEMONSTRATING 
    Learners can demonstrate an understanding of the world as a set of related systems by assessing the effectiveness of promotional material and the message it conveys about the Collective Investment Scheme Manager. 

    UNIT STANDARD CCFO CONTRIBUTING 
    Learners can explore education and career opportunities by investigating the roles of financial advisor, broker consultant and institutional sales force person. 

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

    UNIT STANDARD NOTES 
    This unit standard replaces unit standard 12180, "Describe the sales function in a Collective Investment Scheme Manager", level 4, 4 credits. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  66613   Further Education and Training Certificate: Wealth Management  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered" 
    2021-06-30  As per Learning Programmes recorded against this Qual 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    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. De Vries Management & Training Services cc 
    4. Faisit (Pty) Ltd 
    5. Masifunde Training Centre (Pty) Ltd 
    6. Ray Strodl Consulting (Pty) Ltd 
    7. RJM Educational Consulting (Pty) Ltd 
    8. Sanlam Life Insurance 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.