UNIT STANDARD MAKE UP OF AOLSA OFFERING 2008 SHORT TERM INSURANCE CoP Basics of Short Term (30 credits - 26 core and 4 elective @ level 4) 120019 Analyse new developments reported in the media that could impact on Short Term insurance -10@4 13940 Demonstrate knowledge and application of ethical conduct in a business Environment - 4@4 119676 Apply the skills of customer care in a specific work environment - 4@4 12164 Demonstrate knowledge and insight of FAIS -2@4 117129 Apply the regulations for disclosure that are required as part of the financial sales process - 2@4 120127 Demonstrate knowledge and understanding of issues of compliance or nonactivity that could result in civil or criminal liability in terms of business law - 2@4 120128 Apply the law of contract to insurance - 3@4 120124 Demonstrate knowledge of insurable risk - 3@4 ICiBS Practice of Short Term (30 credits - 10 core @ level 3 and 15 core and 5 elective @ level 4) 113911 Use an electronic system as a tool in a financial services context -2@3 117117 Describe the standard insurance cover in terms of SASRIA - 4@4 120121 Apply technical knowledge and understanding of the cover provided under a Short Term multi-peril insurance policy - 119265 Manage risk in own work environment - 2@4 117121 Apply knowledge and insight into the Short Term Insurance Act and the accompanying regulations - 3@4 117133 Manage own work performance in relation to an organisation s performance management system - 2@3 114943 Describe how to manage workplace relationships - 2@3 114985 Indicate how different needs lead to the development of different financial services products - 4@3 120005 Demonstrate knowledge and understanding of personal motor insurance - 4@4 120022 Apply knowledge and understanding of personal accident insurance - 2@4 Business Calculations (16 fundamental credits @ level 4) 7468 Use mathematics to investigate and monitor the financial aspects of personal, business, national and international issues - 6@4 9015 Apply knowledge of statistics and probability to critically interrogate and effectively communicate findings on life related problems - 6@4 9016 Represent analyse and calculate shape and motion in 2- and 3- dimensianal space in different contexts - 4@4
Business Communications (20 fundamental credits @ level 4) 8974 Engage in sustained oral communication and evaluate spoken texts - 8975 Read, analyse and respond to a variety of texts - 8976 Write for a wide range of contexts - 8979 Use language and communication in occupational learning programmes - Financial Literacy (12 fundamental credits @ level 4) 117156 Interpret basic financial statements - 4@4 117158 Investigate ways of managing financial risk in own lives - 117127 Describe and apply the basic principles of personal income tax - 3@4 Rest of Qualification (Short Term) Since the fundamentals have already been covered, the only outstanding requirement is the additional electives and the second language course (which will be provided by AOLSA as it has no specific insurance focus). (Application of) Personal Lines Short Term (30 elective @ level 4) 120118 Underwrite a standard risk in Short Term personal insurance - 6@4 120011 Explain personal all risks insurance - 2@4 120015 Demonstrate knowledge of insurance of houseowner s insurance - 3@4 120016 Apply knowledge of household insurance - 4@4 120008 Demonstrate knowledge and understanding of the insurance of pleasure craft - 3@4 120132 Apply knowledge of personal liability insurance - 3@4 120112 Demonstrate knowledge and understanding of the sales process in Short Term insurance - 3@4 14319 Explore strategies to retain or expand existing business in the insurance/ investment industry - 3@4 113903 Demonstrate skills and techniques required to build a relationship with a client in a financial services environment - 3@4 OR (Application of) Commercial Short Term (30 elective @ level 4) 120135 Apply technical knowledge and understanding of business motor insurance 120122 Apply technical knowledge of short term insurance to the All Risks section of a commercial policy - 2@4 120115 Apply technical knowledge and understanding of business insurance - 10@4 120120 Apply knowledge of business interruption - 3@4 117149 Apply knowledge and insight into the statutory cover afforded under the COID Act - 3@4 117155 Explain the scope of COIDA - 2@4 120125 Apply knowledge of public liability insurance - 3@4 120012 Demonstrate knowledge and understanding of the scope of travel insurance in South Africa - 2@4
OR Application of Short Term Claims and Underwriting (26 elective @ level 4 and 4 @ level 3) 120136 Apply knowledge of Short Term Insurance to reinsurance - 120123 Process a short term insurance claim - 3@4 120137 Demonstrate knowledge and skill in order to assess a non-motor claim - 3@4 120110 Underwrite a standard risk in short term commercial insurance - 10@4 120130 Apply basic technical knowledge of a vehicle to authorise a light motor vehicle claim - 3@4 119682 Demonstrate knowledge and application of the VAT Act as it applies to insurance - 2@4 117111 Apply knowledge of basic accounting principles to financial services - 4@3 CoP LONG TERM INSURANCE Basics of Long Term (33 credits - 15 core and 8 elective @ level 4 and 10 core @ level 3) 114983 Describe life insurance - 3@3 117146 Indicate the scope of life insurance in South Africa - 4@3 14991 Apply the law of contract to insurance - 2@4 14994 Demonstrate knowledge of insurable risk - 2@4 13940 Demonstrate knowledge and application of ethical conduct in a business environment - 4@4 119261 Describe the control of fraud in Long term insurance - 3@4 12164 Demonstrate knowledge and insight of the FAIS Act - 2@4 14506 Explain the FIC Act and the implications for the industry - 3@4 119676 Apply the skills of customer care in a specific work environment - 4@4 114960 Investigate the need to provide financially for own retirement - 3@3 113916 Explain basic investment principles - 3@4 ICiBS Practice of Long Term (33 credits - 25 core and 4 elective @ level 4 and 2 core and 2 elective @ level 3) 118011 Analyse new developments reported in the media that could impact on Long term insurance - 10@4 119478 Analyse the different products available in the Long term insurance industry and the benefits of each - 117137 Describe group insured benefits - 2@4 113910 Describe disability insurance solutions in the context of financial Planning - 4@4 113913 Describe dread disease products and their place in wealth management -2@4 114983 Describe healthcare cover in South Africa - 2@3 14315 Demonstrate knowledge and insight into the Income Tax Act and the accompanying regulations as amended as it applies to insurance and investment products - 2@4 119678 Explain and apply the basic principles of the Estate Duty Act - 2@4 14979 Describe issues of compliance or non-activity that could result in civil or criminal liability in terms of business law - 2@4 114956 Describe funeral insurance - 2@3
Business Calculations (16 fundamental credits @ level 4) 7468 Use mathematics to investigate and monitor the financial aspects of personal, business, national and international issues - 6@4 9015 Apply knowledge of statistics and probability to critically interrogate and effectively communicate findings on life related problems - 6@4 9016 Represent analyse and calculate shape and motion in 2- and 3- dimensianal space in different contexts - 4@4 Business Communications (20 fundamental credits @ level 4) 8974 Engage in sustained oral communication and evaluate spoken texts - 8975 Read, analyse and respond to a variety of texts - 8976 Write for a wide range of contexts - 8979 Use language and communication in occupational learning programmes - Financial Literacy (12 fundamental credits @ level 4) 117156 Interpret basic financial statements - 4@4 117158 Investigate ways of managing financial risk in own lives - 117127 Describe and apply the basic principles of personal income tax - 3@4 Rest of Qualification (Long Term) Since the fundamentals have already been covered, the only outstanding requirement is the additional electives and the second language course (which will be provided by AOLSA as it has no specific insurance focus). (Application of) Individual Life (10 elective credits @ level 4 and 2 @ level 3) 117126 Apply knowledge and insight into aspects of the Long Term Insurance Act - 2@4 113914 Investigate the range of options available for wealth management - 119259 Explain the role of actuaries, underwriters, claims assessors and reinsurers in Long term insurance - 3@4 117104 Administer a Long-term insurance claim - 2@3 OR (Application of) Retirement Funds (11 elective credits @ level 4 and 4 @ level 3) 12547 Demonstrate knowledge and understanding of the role, functions and duties of trustees of retirement funds - 4@3 117123 Analyse different group retirement products - 2@4 117131 Explain the legislation relating to marriage, divorce and maintenance as it applies to retirement benefits - 2@4 113920 Investigate possible funding options for investors exiting a group retirement fund - 2@4 117120 Analyse the Pension Funds Act as it applies to the administration of retirement funds - 3@4 113931 Describe the main aspects of pre- and post-retirement planning - 2@4
Number Unit Standard Title Credits Level 117120 14315 117131 Analyse the Pension Funds Act as it applies to the administration of retirement funds Demonstrate knowledge and insight into the Income Tax Act (58 of 1962 and the accompanying regulations) as amended as it applies to insurance and investment products Explain the legislation relating to marriage, divorce and maintenance as it applies to retirement benefits 3 4 117137 Describe group insured benefits 117123 Analyse different group retirement products 117122 Analyse the role of group retirement benefits in the insurance industry 117132 Explain basic economics 3 3 113916 Explain basic investment principles 3 4 113920 113931 13940 113923 Investigate possible funding options for investors exiting a group retirement fund Describe the main aspects of pre and post retirement planning Demonstrate knowledge and application of ethical conduct in a business environment Explain fiduciary responsibilities and the associated risks 4 4 1 4 TOTAL CREDITS 28 (25 @ level 4)
LB CoP Certificate Unit Standards Long Term Basic (Category B) Programme (30 credits - 15 core, 5 fundamental and 10 elective @ level 4) 14991 Apply the law of contract to insurance - 2@4 14994 Demonstrate knowledge of insurable risk - 2@4 13940 Demonstrate knowledge and application of ethical conduct in a business environment - 4@4 119261 Describe the control of fraud in Long term insurance - 3@4 12164 Demonstrate knowledge and insight of the FAIS Act - 2@4 14506 Explain the FIC Act and the implications for the industry - 3@4 119676 Apply the skills of customer care in a specific work environment - 4@4 113916 Explain basic investment principles - 3@4 117129 Apply the regulations for disclosure that are required as part of the financial sales process - 2@4 117158 Investigate ways of managing financial risk in own lives -