NATIONAL CERTIFICATE : SHORT TERM INSURANCE (NQF LEVEL 4)

Transcription

1 NATIONAL CERTIFICATE : SHORT TERM INSURANCE (NQF LEVEL 4) A. 5 Taunton Way, Somerset Park, Umhlanga, 420 P. P.O. Box 71, Umhlanga, 420 T / F E. veni@invuya.co.za Accredited Training Provider: 1012

2 THE QUALIFICATION NATIONAL CERTIFICATE IN SHORT TERM INSURANCE: NQF LEVEL 4 1. FIELD: 2. SUB-FIELD:. LEVEL: 4 4. CREDITS: ISSUE DATE: 6. REVIEW DATE: 7. RATIONALE FOR THE QUALIFICATION: Learners at this level do work that requires fundamental knowledge of appropriate legislation and the most important areas of the insurance industry in general and the insurance environment and system within a wider context. They require a range of skills and the ability to apply essential methods and procedures within the limits of their authority. The work roles are in personal/domestic, commercial and industrial or corporate lines of business and include but are not limited to: Short Term Insurance Intermediaries, Internal Broker Consultants, Call Centre Operators, Personal Accident Administrators, Personal lines Administrators, Claims assessors, Client Service Providers, Service agents, Underwriting Agents, Product Developers, Marketing, Short Term Administration, Motor Assessors, Reinsures, Underwriters.

3 8. PURPOSE: The purpose of the Qualification is to build the knowledge and skills required by employees in Short Term Insurance who have achieved a Qualification equivalent to NQF Level 4 in a Financial Services related field 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 and to respond to the challenges of the economic environment and changing nature of the Short Term Industry. It should add value to the qualifying learner in terms of enrichment of the person, status, licensing and recognition. As a Qualification in Short Term Insurance, it provides a framework for learners to develop competencies related to the Sub-Sector, which includes underwriting, claims and the concepts of Short Term Insurance. It provides a balanced learning experience that allows flexible access to life-long learning and to productive employment in Short Term Insurance. It provides an opportunity for learners to learn and apply academic skills in relation to the workplace and will allow for multi-skilling. The Qualification is structured in such a way that it exposes learners to all the concepts of Short Term Insurance with a view to enabling them to make an informed decisions and chpices in the Short Term industry. It is anticipated that this Qualification will promote the notion of life-long learning.

4 9. 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.. The Qualification is made up of Unit Standards that are classified as Fundamental, Core and Elective for the purpose of this Qualification. A minimum of 140 credits is required to complete the Qualification. In this Qualification the credits are allocated as follows: Fundamental 46 credits 8% Core 48 credits 40% Electives 26 credits 22% Total 120 credits 100% SHORT TERM INSURANCE UNIT STANDARDS AND SPECIFIC OUTCOMES The National Certificate in Short Term Insurance is based on the following unit standards and its respective specific outcomes and credits.

5 FUNDAMENTAL ID Title/Specific Outcomes Credits 9014 Use mathematics to investigate and monitor financial aspects of 6 personal, business and national issues 9015 Apply knowledge of statistics and probability to critically interrogate and effectively communicate findings on life related problems Measure, Estimate and calculate physical quantities and explore critique and improve geometrical relationships in two and threedimensional space in the life and workplace of the adult with increasing responsibilities Engage in sustained oral communication and evaluate spoken texts Read, analyse and Respond to a variety of texts Write for a wide range of contexts Use language and communication in occupational learning 5 programmes 1088 Interpret basic financial statements 1086 Investigate the possibilities of establishing and running a SMME 1087 Investigating ways of managing financial risk in own lives Develop a business plan for a small business Describe the basic principles of personal income tax CORE ID Title/Specific Outcome Credits 8989 Describe Short Term insurance Indicate the scope of short term insurance in south Africa 9005 Explain the types of compulsory statuary insurance in south Africa Produce written evidence of short term insurance contracts and maintain records of policies and premiums 8994 Manage risk in own life 8987 Indicate how different needs lead to the development of different 4 insurance products 1940 Demonstrate knowledge and application of ethical conduct in a 4 business environment Demonstrate knowledge and insight into the short term insurance act 2 (no5 of 1998) and the accompanying regulations 1062 Explain reinsurance as it is applied in short term insurance Analyze the financial services industry and the role of insurance in a 9 business environment 106 Analyze new developments reported in the media that could impact 10 on short term insurance 1064 Describe insurance cover against damage caused by riots and acts of terrorism and violence against public authorities in South Africa ELECTIVE ID Title/Specific Outcomes Credits 1066 Underwrite a standard risk in short term personal/ domestic 10 insurance 1068 Demonstrate knowledge and understanding of domestic motor insurance

6 1069 Demonstrate knowledge and understanding of personal /domestic insurance in South Africa 1071 Demonstrate knowledge and understanding of personal accident 2 insurance 107 Demonstrate knowledge and understanding of insurance of personal/domestic household contents and household buildings 1089 Demonstrate knowledge and understanding of all risks insurance Demonstrate knowledge and insight of the Financial advisory and 2 intermediary services act (FAIS)(Act 7 of 2002) 122 Demonstrate knowledge and insight into the policyholder protection legislation 2