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 learners 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. Learners 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 attend?

Learners employed in the short-term insurance industry and who give advice on Personal lines and/ or Commercial lines 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 these skills programmes.
  • This qualification is unit standard based: Learners 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 mathematical literacy and communication literacy: Learners with a grade 12 certificate with mathematics and two languages present, will be granted possible exemption.
  • A learner must choose between the Personal Lines and Commercial Lines skills programme.
Skills Programme 1
Personal Lines
CODEU/S TITLECREDITSLEVELTYPE
120008Demonstrate knowledge and understanding of the insurance of pleasure craft34E
120011Apply knowledge of personal all risks insurance24E
120015Demonstrate knowledge and understanding of house owners insurance34E
120016Apply knowledge insurance of household contents44E
120118Underwrite a standard risk in Short-term personal insurance64E
120123Process a Short-term insurance claim34E
120132Apply knowledge of personal liability insurance34E
120136Apply knowledge of Short-term Insurance to reinsurance54E
9302Access information in order to respond to client enquiries in a financial services environment24E
31
OR
Skills Programme 1
Commercial Lines
CODEU/S TITLECREDITSLEVELTYPE
9302Access information in order to respond to client enquiries in a financial services environment23E
120110Underwrite a standard risk in Short-term commercial insurance104E
120115Apply technical knowledge and understanding of business insurance104E
120122Apply knowledge of Short-term Insurance to the All Risks section of a commercial policy24E
120123Process a Short-term insurance claim34E
120136Apply knowledge of Short-term Insurance to reinsurance54E
32
Skills Programme 2
Personal and Commercial Lines
CODEU/S TITLECREDITSLEVELTYPE
114985Indicate how different needs lead to the development of different Financial Service products43C
117117Describe standard insurance cover in terms of SASRIA44C
117127Describe and apply the basic principles of personal income tax34F
117156Interpret basic financial statements44F
117158Investigate ways of managing financial risk in own lives54F
119265Manage risk in own work environment24C
120121Apply technical knowledge and understanding of the cover provided under a Short-term Multi-Peril Insurance policy54C
120124Demonstrate knowledge of insurable risk34C
120128Apply the law of contract to insurance34C
33
Skills Programme 3
Personal and Commercial Lines
CODEU/S TITLECREDITSLEVELTYPE
13940Demonstrate knowledge and application of ethical conduct in a business environment44C
120019Analyse new developments reported in the media that could impact on Short-term insurance104C
120005Demonstrate knowledge and understanding of personal motor insurance44C
119676Apply the skills of customer care in a specific work environment44C
117133Manage own work performance in relation to an organisation’s performance management system23C
114943Describe how to manage workplace relationships23C
113911Use an electronic system as a tool in a financial services context23C
120127Demonstrate knowledge and understanding of issues of compliance and non-activity that could result in civil or criminal liability in terms of business law24C
12164Demonstrate knowledge and insight of the Financial Advisory and Intermediary Services Act (FAIS) (Act 37 of 2002)24E
32
Skills Programme 4
Mathematics
CODEU/S TITLECREDITSLEVELTYPE
7468Use mathematics to investigate and monitor the financial aspects of personal, business, national and international issues64F
9015Apply knowledge of statistics and probability to critically interrogate and effectively communicate findings on life related problems64F
9016Represent analyse and calculate shape and motion in 2-and 3-dimensional space in different contexts44F
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
IDTITLECREDITSLEVELTYPE
8969Interpret and use information from texts53F
8976Write for a wide range of contexts54F
8974Engage in sustained oral communication and evaluate spoken texts54F
8970Write texts for a range of communicative contexts53F
8973Use language and communication in occupational learning programme53F
8975Read analyse and respond to a variety of texts54F
8979Use language and communication in occupational learning programme54F
8968Accommodate audience and context needs in oral communication53F
40

*Note on Skills Programme 5: Learners who passed a South African first language at NQF level 4 (20 credits) and South African 2nd language (20 credits) at either an NQF level 4 or level 3 may be granted concession for the Fundamental Component.

Skills programme 1 – Compulsory
Personal Lines
(31 credits)

The majority of these unit standards mainly consist of legislation, customer care, relationship building, and ethical conduct. A learner will have the knowledge, and understanding of: insurance of pleasure crafts, 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 unit standards are electives. A learner 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)

Learners 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)

Learners 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)

Learners 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)

Learners 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.
  • Learning material only available in English.

Skills Programme Fees

E-Learning: (per skills programme of ± 30 credits)

2017 fees
Per LearnerCost per learner (incl. VAT)
R 4 220.00

Distance Learning: (± 30 credits)

2017 fees
Number of learnersCost per learner (incl. VAT)
12 – 30R 4 430.00
30 +Negotiable

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

2017 fees
Number of learnersCost per learner (incl. VAT)
12 – 30R 5 830.00
30 +Negotiable

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

2017 fees
Number of learnersCost per learner (incl. VAT)
12 – 30R 5 520.00
30 +Negotiable

Additional Fees:

2017 fees
Cost per learner (incl. VAT)
Credit Analysis fee
(MBSE will analyse your credits. The fee will be deducted from your first enrolment payment.)
R 590.00
Reprinting of material feeR 420.00
Enrolment for specific skills programmes Will depend on your outstanding amount of credits.
Non-attendance fee
(If you confirmed that you will attend a class and you don’t attend, without a valid reason, you will pay a non-attendance fee.)
R 910.00
Rewrite FormativeR 230.00 per unit standard
Rewrite SummativeR 570.00
Concession (Mathematics and LanguagesR 580.00

*Valid reason for non-attendance would be: a medical condition supported by a medical certificate; or death in the family

Re- assessment fees (VAT inclusive)

Summative assessment: : R 570.00
Formative assessment: R 230.00 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 8 – 10 weeks to complete.

Accreditation and Certification

Certification

After successful completion of each skills programme, the learner will receive a letter from MBSE confirming the results. The Portfolio of Evidence (POE) needs to then be verified and endorsed by INSETA where after the skills programme credits will be added to the INSETA Indicism system for subsequent upload to the National Learner’s Record Database (NLRD). Once the full qualification is completed, INSETA will issue the certificate of competence and MBSE will present it to the learner upon receipt thereof.

Method of training

Online learning

Admission Requirements

  • This qualification is suitable for learners who have schooling at/or below NQF 4 (grade 12 certificate).
  • Our programme is aimed at learners 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.

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 learners will either courier the proof of evidence to the Assessor or upload on LMS for assessment. Once assessed and the learner 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
Facilitated learning, distance learning, online learning or blended learning

Class Attendance
Facilitated training – minimum of 15 candidates

Qualification Duration
Minimum of 8 – 10 weeks per skills programme of ± 30 credits

Admission Requirements
No admission requirements

Fees:

See Skills Programmes Fees below