Further Education and Training (FETC): Short-term Insurance (NQF 4)

FETC-Short-Term-Insurance-NQF 4

The qualification covers Short-term related learning and provides a framework for students to develop competencies that will give them insight into the Short-term insurance sub-sector. It introduces a basic understanding of the key terms, rules, concepts and principles of the fields that will ready them for the industry.

What will the qualification enable you to do?

  1. Students who advise Short-term Commercial or Personal lines products.
  2. Carry out basic research, information gathering, analysis and communicate it to a larger audience.
  3. Offer advice in terms of current Determination of Fit and Proper Requirements for Financial Services providers.
  4. Knowledge about behaviour and ethics in a work place environment, managing personal finance and tax.

WHO SHOULD ENROL?

Students employed in Short-term insurance industry and who give advice on Personal lines and or Commercial line business.

This qualification is ideal for:

  • Access to the Financial Services Industry.
  • Entry level financial advisors.

Skills programmes covered

The full qualification of 150 credits is divided into Skills Programmes of approximately 30 credits each:

  • Each Skills Programme is an independent programme and one can enrol at any time for a Skills Programme.
  • This qualification is unit standard-based: Students will receive credits for each Skills Programme they finish i.e. you do not have to finish the full qualification to receive credits.
  • At least three Skills Programmes are compulsory.
  • Two of the Skills Programmes are mathematics or mathematics literacy and communication literacy: students with a
  • grade 12 certificate with mathematics and two languages present, will be granted possible exemption.
  • Students must choose between the Personal Lines and Commercial Lines Skills Programme.
Skills Programme 1
Personal Lines
CODE U/S TITLE CREDITS LEVEL TYPE
120008 Demonstrate knowledge and understanding of the insurance of pleasure craft 3 4 E
120011 Apply knowledge of personal all risks insurance 2 4 E
120015 Demonstrate knowledge and understanding of house owners insurance 3 4 E
120016 Apply knowledge insurance of household contents 4 4 E
120118 Underwrite a standard risk in Short-term personal insurance 6 4 E
120123 Process a Short-term insurance claim 3 4 E
120132 Apply knowledge of personal liability insurance 3 4 E
120136 Apply knowledge of Short-term Insurance to reinsurance 5 4 E
9302 Access information in order to respond to client enquiries in a financial services environment 2 3 E
31
OR
Skills Programme 1
Commercial Lines
CODE U/S TITLE CREDITS LEVEL TYPE
9302 Access information in order to respond to client enquiries in a financial services environment 2 3 E
120110 Underwrite a standard risk in Short-term commercial insurance 10 4 E
120115 Apply technical knowledge and understanding of business insurance 10 4 E
120122 Apply knowledge of Short-term Insurance to the All Risks section of a commercial policy 2 4 E
120123 Process a Short-term insurance claim 3 4 E
120136 Apply knowledge of Short-term Insurance to reinsurance 5 4 E
32
Skills Programme 2
Personal and Commercial Lines
CODE U/S TITLE CREDITS LEVEL TYPE
114985 Indicate how different needs lead to the development of different Financial Service products 4 3 C
117117 Describe standard insurance cover in terms of SASRIA 4 4 C
117127 Describe and apply the basic principles of personal income tax 3 4 F
117156 Interpret basic financial statements 4 4 F
117158 Investigate ways of managing financial risk in own lives 5 4 F
119265 Manage risk in own work environment 2 4 C
120121 Apply technical knowledge and understanding of the cover provided under a Short-term Multi-Peril Insurance policy 5 4 C
120124 Demonstrate knowledge of insurable risk 3 4 C
120128 Apply the law of contract to insurance 3 4 C
33
Skills Programme 3
Personal and Commercial Lines
CODE U/S TITLE CREDITS LEVEL TYPE
13940 Demonstrate knowledge and application of ethical conduct in a business environment 4 4 C
120019 Analyse new developments reported in the media that could impact on Short-term insurance 10 4 C
120005 Demonstrate knowledge and understanding of personal motor insurance 4 4 C
119676 Apply the skills of customer care in a specific work environment 4 4 C
117133 Manage own work performance in relation to an organisation’s performance management system 2 3 C
114943 Describe how to manage workplace relationships 2 3 C
113911 Use an electronic system as a tool in a financial services context 2 3 C
120127 Demonstrate knowledge and understanding of issues of compliance and non-activity that could result in civil or criminal liability in terms of business law 2 4 C
12164 Demonstrate knowledge and insight of the Financial Advisory and Intermediary Services Act (FAIS) (Act 37 of 2002) 2 4 E
32
Skills Programme 4
Mathematics
CODE U/S TITLE CREDITS LEVEL TYPE
7468 Use mathematics to investigate and monitor the financial aspects of personal, business, national and international issues 6 4 F
9015 Apply knowledge of statistics and probability to critically interrogate and effectively communicate findings on life related problems 6 4 F
9016 Represent analyse and calculate shape and motion in 2-and 3-dimensional space in different contexts 4 4 F
16

*Note on Skills Programme 4: Learners who passed mathematics or mathematical literacy as a subject in Grade 12 may be granted 16 credits through concession against these fundamental unit standards at Levels 3 and 4.

Skills Programme 5
Communication & Additional South African Language
ID TITLE CREDITS LEVEL TYPE
8969 Interpret and use information from texts 5 3 F
8976 Write for a wide range of contexts 5 4 F
8974 Engage in sustained oral communication and evaluate spoken texts 5 4 F
8970 Write texts for a range of communicative contexts 5 3 F
8973 Use language and communication in occupational Learning Programme 5 3 F
8975 Read analyse and respond to a variety of texts 5 4 F
8979 Use language and communication in occupational Learning Programme 5 4 F
8968 Accommodate audience and context needs in oral communication 5 3 F
40

*Note on Skills Programme 5: students who passed English as a first language as a subject in Grade 12 with symbols A-E may be granted 20 credits through concession against the Communication Unit standards at levels 3 and 4. Students who passed an additional South African Language other than the language of business (English) as a first, second or third language as a subject in Grade 12 with symbols A-E may be granted 20 credits through concession against the Communication Unit standards required as a second language at level 3.

Skills Programme 1 – Compulsory
Personal Lines
(31 credits)

The majority of these Skills Programmes mainly consist of legislation, customer care, relationship building, and ethical conduct. A student will have the knowledge, and understanding of, ‘insurance of pleasure craft’, house owner insurance, household content, personal liability insurance, reinsurance and how to process Short-term insurance claims.

OR

Skills Programme 1 – Compulsory
Commercial Lines
(32 credits)

The majority of these Skills Programmes are electives. A student will learn to underwrite standard risk in Commercial Lines and have a good knowledge base of business insurance, all risk section of business insurance and Short-term reinsurance. They will also have an understanding of how to process a Short-term insurance claim.

Skills Programme 2 – Compulsory
(33 credits)

Students will:

  • Have knowledge of SASRIA and personal sales tax.
  • Interpret basic financial statements.
  • Manage financial risk personally and in the workplace.
  • Apply and understand the cover provided under a Multi-Peril insurance policy and the law of contract to insurance.

Skills Programme 3 – Compulsory
(32 credits)

Students will demonstrate knowledge and understanding of personal motor insurance and ethical conduct, as well as analyse new developments that could impact on ST insurance, compliance services, customer care, use of an electronic system in ST insurance and an insight of the FAIS act.

Skills Programme 4 – Elective
Mathematics
(16 credits)

Students who have passed mathematics in grade 12 will possibly be granted exemption.
If you are not granted exemption, you will learn to apply knowledge of statistics and probability and use mathematics to investigate and monitor the financial aspects of personal/ business issues.

Skills Programme 5 – Elective
Communication and additional SA Language
(40 credits)

Students who have passed two languages in grade 12 will possibly be granted exemption.
If you are not granted exemption, you will learn to read, interpret and use information from texts as well as write and engage in oral communication.

Learning Material

  • Learning material is developed for outcome-based training and is developed in conjunction with industry requirements.
  • Learning material is continuously updated with any changes in the marketplace.
  • Learning material is easy to access and easy to understand without facilitation.
  • The Learning material is only available in English.

Skills Programme Fees

E-Learning: (per Skills Programme of ± 30 credits)

2018 fees
Per student Cost per student (excl. VAT)
R 4 000.00

Distance Learning: (± 30 credits)

2018 fees
Number of students Cost per student (excl. VAT)
12 – 30 R 4 200.00
30 + Negotiable

Cost of facilitated learning (Moonstone provides venue): (± 30 credits)

2018 fees
Number of students Cost per student (excl. VAT)
12 – 30 R 5 500.00
30 + Negotiable

Cost of facilitated learning (use own venue): (± 30 credits)

2018 fees
Number of students Cost per student (excl. VAT)
12 – 30 R 5 200.00
30 + Negotiable

Additional Fees:

2018 fees
Cost per student (incl. VAT)
Credit Analysis fee
(MBSE will analyse your credits. The fee will be deducted from your first enrolment payment.)
R 553.51
Reprinting of material fee R 387.00
Enrolment for specific Skills Programmes Will depend on your outstanding amount of credits.
Rewrite Formative R 221.93 per unit standard
Rewrite Summative R 798.25
Concession (Mathematics and Languages) R 543.86

Re- assessment fees (Incl. VAT)

Summative Assessment: R 910.00
Formative assessment: R 253.00 per unit standard

How do I calculate my fee?

In order for any student to calculate their total fee, we first need to establish your credit score and which skills programmes you should enrol for.

Please refer to our RPL and credit mapping to get started.

Dates

Registration deadline:

No deadline.

Payment deadline:

On registration per Skills Programme or full qualification.

Start date and end date:

  • Will individually be decided with registration.
  • A Skills Programme takes approximately 3 months to complete.

Accreditation and Certification

Certification

The Qualification consist of Fundamental, Core and Elective Components. To be awarded the Qualification, students are required to obtain a minimum of 150 credits in line with the component requirements. Certification will occur as soon as all the relevant unit standards toward the qualification have been completed, verified and endorsed by INSETA and uploaded onto the National Learner Records Database (NLRD).

Method of training

Online learning

Admission Requirements

  • This qualification is suitable for students who have schooling at/or below NQF 4 (grade 12 certificate).
  • Our programme is aimed at student’s with less than four years’ experience, newcomers to the industry, or those who
  • have lots of experience, but would like to brush up on their product knowledge.
  • No admission requirements.
  • Students must be able to read and write.
  • Students will receive an equivalent qualification as a grade 12 certificate.

How to Register?

Each skills programme is an independent programme and one can enrol at any time for these skills programmes. Registration is flexible and can be done 5 days a week for distance learning, online learning, blended learning and facilitated learning. For facilitation, a minimum of 15 candidates are required.

Assessments

  • After completion of the Portfolio of Evidence, the students will either courier the proof of evidence to the Assessor or upload on LMS for assessment. Once assessed and the students is found Competent in all the Skills Programmes, MBSE will contact the candidate to arrange for a closed-book Summative Assessment.
  • Additional assignments will be handed in on the day of the Summative Assessment.
  • Should the candidate be unsuccessful in the Skills Programmes on the Portfolio of Evidence, MBSE will contact the candidate to apply for a rewrite on these Skills Programmes.
  • Once Competent MBSE will arrange for the Summative Assessment.
overview
Starting Date
No restriction 

 

Qualification

Registered on the National Qualification Framework (NQF) and quality assured by INSETA.

Method of Training
Distance learning, online learning, facilitated groups of 15+.

Qualification Duration
Minimum of 8 – 10 weeks per Skills Programme of ± 30 credits.

Admission Requirements
No admission requirements.

Fees:

See Skills Programmes Fees below

The qualification covers short-term related learning and provides a framework for learners to develop competencies that will give them insight into the short-term insurance sub sector.