PURPOSE OF THE QUALIFICATION

Is to build the knowledge and skills required by senior employees in Short Term Insurance who have achieved the Qualification requirements for the Fit and Proper Determination for Short Term Insurance and are ready to study at Level 5. It is intended to empower learners to acquire knowledge, skills, attitudes and values required to operate ethically and responsibly in the highly regulated Financial Services environment and to respond to the challenges posed by the changing nature of the Financial Services Industry. It should add value to the qualifying learner in terms of enrichment of the person, status, and recognition both in South Africa and Internationally.

COURSE OUTLINE

Learning Programme 1

• Apply the principles of ethics to a business environment.
• Research information to assist in conducting a financial risk assessment.
• Demonstrate knowledge and understanding of the fundamental principles of risk finance to propose an insurance solution.
• Apply the risk management process to investigate alternatives for risk transfer.

Learning Programme 2

• Apply technical knowledge to explain business risk and possible strategies to finance risk.
• Demonstrate knowledge and understanding of the financial consequences of a large claim to a client.
• Demonstrate knowledge and understanding of the financial consequences of a large claim to an insurer or reinsurer.
• Demonstrate insight into current affairs in the Financial Services sector.

Learning Programme 3

• Present an informed argument on a current issue in a business sector.
• Apply basic economic principles to the financial services sector.
• Demonstrate knowledge and insight into the changing nature of the financial services industry and its consumers.
• Apply technical knowledge and understanding of the origin and use of technical market data in the insurance industry.

Learning Programme 4

• Demonstrate knowledge and understanding of risk in a Financial Services environment.
• Investigate issues of governance that impact on the different role players in a selected sub-sector.
• Demonstrate knowledge and insight into reinsurance in the context of risk financing.
• Apply technical knowledge and skill to underwrite risk in short term corporate insurance.
• Underwrite a high risk in short term commercial and industrial insurance.

PURPOSE OF THE QUALIFICATION

Is to build knowledge and skill required by employees in Long-term Insurance who have had schooling at or below NQF level 4. It serves as a bridging Qualification into Long-term Insurance as learners will not have acquired the necessary knowledge and skills as part of the school curriculum. It is intended to empower learners to acquire knowledge, skills, attitudes and values required to operate confidently as individuals in the South African community and to respond to the challenges of the economic environment and changing world of work in the financial services industry. It should add value to the qualifying learner in terms of enrichment of the person, status and recognition.

COURSE OUTLINE

Learning Programme 1: Financial Literacy

• Basic Financial Statements.
• Describe and apply the principles of personal income tax.
• Investigate ways of managing financial risk in own lives.

Learning Programme 2: Communication (1st and 2nd Language)

• Engage in sustained oral communication and evaluate spoken texts.
• Read, analyse and respond to variety of texts.
• Write for a wide range of contexts.
• Use language and communication in occupational learning programmes.
• Accommodate audience and context needs in oral communication languages.
• Interpret and use information from texts
• Write texts from a range of communicative context.
• Use language and communication in occupational learning programmes.

Learning Programme 3: Maths

• Apply knowledge of statistics and probability to critically interrogate and effectively communicate findings on life related problems.
• Represent, analyse and calculate shape and motion in 2and 3-dimensional space in different contexts.
• Use mathematics to investigate and monitor the financial aspects of personal, business, national and international issues.

Learning Programme 4: Introduction to Insurance and Workplace Management

• Demonstrate knowledge and application of ethics conduct in a business environment.
• Describe issues of compliance or non-activity that could results in civil or criminal liability in terms of business law.
• Apply the skills of customer care in a specific work environment.
• Demonstrate skills and techniques required to build a relation with a client in a financial services environment.
• Manage time effectively to enhance productivity and enable a balanced lifestyle.
• Apply the law of insurance.
• Demonstrate knowledge and understanding of insurable risk.
• Analyse new developments reported in the media that could impact on long-term insurance.

Learning Programme 5: Legislative Framework

• Demonstrate knowledge and insight of the Financial Advisory and intermediary Services Act (FAIS) Act 37 of 2002
• Apply the regulations for disclosure that are required as part of the financial sales process
• Explain the Financial Intelligence Centre Act 38 of 2001 and its implications for client relations
• Apply knowledge and insight into aspects of the Long-Term Insurance Act, 52 of 1998

Learning Programme 6: Products

• Describe disability insurance solutions in the context of financial planning.
• Investigate dread disease product and their place in wealth management.
• Describe funeral insurance.
• Explain credits life insurance.
• Investigate the need to provide financially for own retirement.
• Describe group insured benefits.
• Describe the control of fraud in Long-term insurance.

Purpose of the qualification

The FETC: Wealth Management is a generic Qualification in the management and creation of wealth that builds the introductory knowledge, skills attitudes and values required for learners to operate ethically and responsibly as Intermediaries and Administrators, and to respond to the challenges of the economic environment and the changing nature of the highly regulated Financial Services Industry. It is designed to meet the needs of learners in a variety of positions including Trustees and Principal Officers of retirement funds and medical schemes and Trainee Financial Planners.

Course Outline

Learning Programme 1: Introduction to Wealth Management

• US 243144 - Explain the structure of the financial services industry in SA.
• US 243134 - Investigate the range of options available for wealth management.
• US 243133 - Analyse current events reported in the media that could impact on wealth management.

Learning Programme 2: Long Term Industry

• US 114956 - Describe funeral insurance.
• US 119478 - Analyse the different products available in the long-term insurance industry and the benefits of each.
• US 119261 - Describe the control of fraud in Long-term insurance.
• US 114960 - Investigate the need to provide financially for own retirement.

Learning Programme 3: Customer Care & Workplace Relationships

• US 119676 - Apply the skills of customer care in specific work environment.
• US 243137 - Demonstrate skills and techniques required to build a relationship with a client in a financial services environment.
• US 114970 - Manage risk in own life.

Learning Programme 4: Legislative Framework

• US 242584 - Demonstrate knowledge and insight of the Financial Advisory and Intermediary Services Act (FAIS) (Act 37 of 2002).
• US 117121- Apply knowledge and insight into the Short-Term Insurance Act (No 53 of 1998) and the accompanying regulations.
• US 242593 - Explain SA money laundering legislation and the implications for accountable institutions in transacting with clients .
• US 117126- Apply knowledge and insight into aspects of the Long-Term Insurance Act 52 of 1998.

Learning Programme 5: Investment Principles, Risk and Ethics

• US 117132 - Explain Basic Economics.
• US 243153 - Explain Basic Investment Principles.
• US 243153 - Explain Capital Markets and Capital Market Instruments
• US 243142 - Explain Equity Markets and Equity market Instruments
• US 243148 - Explain Money Markets and Money Market Instruments
• US 242655- Demonstrate knowledge and application of ethical conduct in a business environment

Learning Programme 6: Financial Literacy & Operating a SMME Business

• US 117156 - Interpret Basic Financial Statements.
• US 117127 - Describe and apply the principles of personal income tax.
• US117158 - Investigate ways of managing financial risk in own lives.
• US 117244- Investigate the possibility of establishing and running a small business enterprise (SMME).
• US 117241- Develop a business plan for a small business.

Learning Programme 7: Maths

• US 9015 - Apply knowledge of statistics and probability to critically interrogate and effectively communicate findings on life related problems.
• US 9016 - Represent analyse and calculate shape and motion in 2and 3-dimensional space in different contexts.
• US 7468 - Use mathematics to investigate and monitor the financial aspects of personal, business, national and international issues.

Learning Programme 8: languages (1st and 2nd)

• US 119462 - Engage in sustained oral communication and evaluate spoken texts.
• US 119469 – Read/view, analyse and respond to variety of texts.
• US 119471- Use languages and communication in occupational learning programmes.
• US 119459 - Write/present/ sign for a wide range of contexts.
• US 119472 - Accommodate audience and context needs in oral/signed communication.
• US 119457 - Interpret and use information from text.
• US 119465 - Write/present/sign texts for a range of communicative contexts.
• US 119467 - Use language and communication in occupational learning programmes.

Course Outline

Learning Programme 1

• Apply the principles of ethics to a business environment;
• Apply basic economic principles to the financial services sector;
• Demonstrate insight into current affairs in the Financial Services Sector;
• Demonstrate knowledge and understanding of risk in a Financial Service Environment;
• Present an informed argument on a current issue in a business sector.

Learning Programme 2

• Apply a researched trend to individual financial risk;
• Apply knowledge of the different asset classes to give financial advice;
• Research information to assist in conducting a financial risk assessment;
• Describe the financial life cycle of an individual and how this influence financial Decisions;
• Demonstrate knowledge and insight into the changing nature of the financial services industry and its consumers.

Learning Programme 3

• Apply scenario planning to explain potential risk in a specified financial service Context;
• Determine the needs and wants of an entity to propose an appropriate financial Solution;
• Present a proposal to optimise the tax aspects of the wealth management of an Entity;
• Apply technical knowledge and skill to advise business entities on insurance and group retirement benefits;
• Apply technical knowledge and skill to advise an individual on planning for Retirement;
• Apply knowledge of estate planning to propose a financial solution for a specific Client.

• Analyse the product design/structure of different medical schemes to evaluate the benefits of each scheme;
• Apply knowledge and skill to explain the application of structured long-term insurance portfolios;
• Demonstrate knowledge and understanding of the fundamental principles of risk finance to propose an insurance solution;
• Research theories of behavioural economics and behavioural finance to explain the influence of emotion on financial decisions;
• Apply knowledge of health economics to make an informed decision.

Business Courses

1. FETC: Business Administration Services SAQA ID: 61595 NQF Level 4, 140 Credits

Learning Programme 1: Business Communication

• Read, analyse and respond to a variety of texts
• Write for a wide range of contexts
• Write texts for a range of communicative contexts
• Use the writing process to compose texts required in the business environment
• Present information in report format
• Engage in sustained oral communication and evaluate spoken/signed texts
• Accommodate audience and context needs in oral communication.

Learning Programme 2 : Mathematical Literacy

• Apply knowledge of statistics and probability to critically interrogate and effectively communicate findings on life related problems.
• Measure, estimate & calculate physical quantities & explore, critique & prove geometrical relationships in 2 and 3-dimensional space in the life and workplace of adult with increasing responsibilities.
• Use mathematics to investigate and monitor the financial aspects of personal, business, national and international issues.

• Describe and apply the management of stock and fixed assets in a business unit
• Interpret basic financial statements
• Apply knowledge of basic accounting principles to financial services
• Apply the budget function in a business unit

• Develop administrative procedures in a selected organisation
• Manage administration records
• Co-ordinate meetings, minor events and travel arrangements
• Process incoming and outgoing telephone calls

• Manage service providers in a selected organisation
• Contract service providers
• Describe and assist in the control of fraud in an office environment

Learning Programme 6: Personal Effectiveness

• Achieve personal effectiveness in business environment
• Comply with organisational ethics
• Apply efficient time management to the work of a department/division/section

• Work as a project team member
• Display cultural awareness in dealing with customers and colleagues
• Analyse new developments reported in the media that could impact on a business sector or industry
• Apply a range of project management tools

2. FETC: New Venture Creation SAQA ID: 66249 NQF Level 4, 149 Credits

3. National Certificate: New Venture Creation SAQA ID: 49648 NQF Level 2, 138 Credits

4. FETC: Project Management SAQA ID: 50080 NQF Level 4, 136 Credits

5. FETC: Generic Management SAQA ID: 57712 NQF Level 4, 150 Credits

6. National Certificate: Generic Management SAQA ID: 59201 NQF Level 5, 162 Credits

7. FETC: Call Centre Operations SAQA ID: 93996 NQF Level 4, 132 Credits

8. NC: Funeral Services Practice SAQA ID: 21787 NQF Level 3: 122 Credits

We are accredited to offer full qualifications and skills programmes on the following unit standards:

FET Certificate in Short Term Insurance    SAQA ID: 49929/66610 NQF level 4, 150 Credits

National Certificate in Short Term Insurance     SAQA ID:57918 NQF level 5, 120 Credits

FET Certificate in Long Term Insurance     SAQA ID: 49649 NQF Level 4, 140 Credits

FET Certificate in Wealth Management     SAQA ID: 57917 NQF Level 4, 150 Credits

National Certificate in Wealth Management     SAQA ID: 57608 NQF Level 5, 120 Credits

OC: Insurance Agent: Insurance Underwriter     SAQA ID: 91784 NQF Level 5, 156 Credits