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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD: 

Monitor and Control Purchases and Sales of Exchange (BoP) in a banking environment 
SAQA US ID UNIT STANDARD TITLE
117847  Monitor and Control Purchases and Sales of Exchange (BoP) in a banking environment 
ORIGINATOR
SGB Banking and Micro Finance 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
BANKSETA - Banking Sector Education and Training Authority 
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Finance, Economics and Accounting 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 5  Level TBA: Pre-2009 was L5  15 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Reregistered  2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2027-06-30  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This unit standard replaces: 
US ID Unit Standard Title Pre-2009 NQF Level NQF Level Credits Replacement Status
7320  Monitor and Control Purchases and Sales of Exchange (Form E & Form A) in a banking environment  Level 5  Level TBA: Pre-2009 was L5  18  Complete 

PURPOSE OF THE UNIT STANDARD 
This Unit Standard is for persons in working in an exchange control environment of authorised FOREX dealers.

Persons credited with this Unit Standard will be able to:
  • Evaluate forms for the purchase and sale of exchange
  • Monitor and control allowances
  • Control Offshore Investments by Natural Persons Resident in South Africa
  • Control export of goods for sale abroad
  • Control export of goods not for sale (NEP) 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    It is assumed that learners are competent in:
  • Communications at NQF Level 3
  • Mathematical Literacy at NQF level 3
  • Computer Literacy at NQF Level 3. 

  • UNIT STANDARD RANGE 
    N/A 

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Evaluate Forms for the Purchase and Sale of Exchange (BoP). 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Transactions on BoP are checked for compliance in terms of exchange control rulings or SARB authority. 
    ASSESSMENT CRITERION RANGE 
    Income, Gift Allowances, Export proceeds, Immigrants Capital transfers
     

    ASSESSMENT CRITERION 2 
    Category codes are checked for correctness in terms of exchange control rulings. 

    ASSESSMENT CRITERION 3 
    Forms for the purchase and sale of exchange are reported correctly on the system as per the exchange control rulings. 

    ASSESSMENT CRITERION 4 
    Forms for the purchase and sale of exchange are retained for inspection purposes in terms of the exchange control rulings. 

    SPECIFIC OUTCOME 2 
    Monitor and Control Allowances. 
    OUTCOME RANGE 
    Study Allowances, Gift Allowances, Maintenance Allowances, Travel Allowances, Subsistence Allowances, Omnibus Allowances 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The application is checked for compliance with exchange control rulings and regulations 

    ASSESSMENT CRITERION 2 
    Supporting documentation is viewed and, endorsed 'EXCHANGE PROVIDED'. 
    ASSESSMENT CRITERION RANGE 
    Study Allowance, Maintenance Allowance, and Subsistence Allowance
     

    ASSESSMENT CRITERION 3 
    Copies are retained if necessary in accordance with exchange control rulings 

    ASSESSMENT CRITERION 4 
    Residential status of recipient is established and funds remitted within the prescribed limits. 
    ASSESSMENT CRITERION RANGE 
    Gift allowance, Maintenance allowance, Travel Allowance, Subsistence Allowance, Study allowance.
     

    ASSESSMENT CRITERION 5 
    The Travel Allowance is checked in the passport to ensure that it does not exceed the prescribed limit. 

    ASSESSMENT CRITERION 6 
    Passports and air-tickets are endorsed in terms of exchange control rulings. 
    ASSESSMENT CRITERION RANGE 
    Travelers cheques, Foreign bank notes, Credit and/or Debit cards.
     

    ASSESSMENT CRITERION 7 
    Omnibus travel facilities for companies are monitored to ensure that the limits are not exceeded, and that the passports of the representatives are endorsed accordingly, in terms of exchange control rulings and/or SARB Authority. 

    SPECIFIC OUTCOME 3 
    Control Offshore Investments by Natural Persons Resident in South Africa. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Applications for offshore investments are checked to ensure that they do not exceed the limit prescribed by the South African Reserve Bank. 

    ASSESSMENT CRITERION 2 
    A form (F1423) to invest offshore is checked for correct completion and the original form then submitted to the Reserve Bank. 

    ASSESSMENT CRITERION 3 
    A copy of the form to invest offshore is retained for inspection purposes, in terms of exchange control rulings. 

    ASSESSMENT CRITERION 4 
    An original tax-clearance certificate is taken in, checked for validity and authenticity and that the amount on the form to invest offshore does not exceed the amount authorised on the tax clearance certificate. 

    ASSESSMENT CRITERION 5 
    The original tax-clearance certificate is retained for inspection purposes, and the copy handed to the customer, in terms of exchange control rulings. 

    ASSESSMENT CRITERION 6 
    Requests for additional investments are checked to ensure that the prescribed limits or approved limits are not exceeded. 

    ASSESSMENT CRITERION 7 
    A sale of exchange form (Form A) is completed for the remittance of funds, in terms of exchange control rulings. 

    SPECIFIC OUTCOME 4 
    Control Export of goods for sale abroad (F178). 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    A form to export goods for sale is checked for correct completion and attested according to exchange control rulings and copies filed as per legal requirements. 

    ASSESSMENT CRITERION 2 
    The expected payment date is recorded to monitor that the proceeds are received within the specified time, in terms of exchange control rulings and/or regulations or SARB authority. 

    ASSESSMENT CRITERION 3 
    A follow up procedure is conducted in accordance with SARB and exchange control rules and regulations 

    ASSESSMENT CRITERION 4 
    The payment is marked off against the form to export goods (F178) in accordance with exchange control rulings. 

    ASSESSMENT CRITERION 5 
    The commission for services provided for export of goods are collected from the customer in terms of company specific requirements 

    SPECIFIC OUTCOME 5 
    Control export of goods not for sale (NEP). 
    OUTCOME RANGE 
    Trade samples, Goods exported for repairs, temporary exported goods, defective goods for repairs, personal goods. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The Form NEP is completed according to exchange control rulings. 

    ASSESSMENT CRITERION 2 
    The expected date of return of the goods is noted, in terms of exchange control rulings. 

    ASSESSMENT CRITERION 3 
    The copy of Form NEP is retained for exchange control inspections 

    ASSESSMENT CRITERION 4 
    In the event of sale of the goods confirmation of payment must be viewed in accordance with SARB rulings. 

    ASSESSMENT CRITERION 5 
    A follow up procedure is conducted in accordance with SARB and exchange control rulings and/or regulations or SARB authority. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
  • An individual wishing to be assessed (including through RPL) against this Unit Standard may apply to an assessment agency, assessor or provider institution accredited by the relevant ETQA, or an ETQA that has a Memorandum of Understanding with the relevant ETQA.
  • Anyone assessing a learner against this Unit Standard must be registered as an assessor with the relevant ETQA or with an ETQA that has a Memorandum of Understanding with the relevant ETQA
  • Any institution offering learning that will enable achievement of this Unit Standard or assessing this Unit Standard must be accredited as a provider with the relevant ETQA or with an ETQA that has a Memorandum of Understanding with the relevant ETQA
  • Moderation of assessment will be conducted by the relevant ETQA at its discretion. 

  • UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
    Exchange Control Rulings applicable to the transactions being carried out 

    UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    To identify and solve problems in which responses display that responsible decisions using critical and creative thinking have been made when applications for offshore investments are checked to ensure that they do not exceed the limit prescribed by the South African Reserve Bank and when a form (F1423) to invest offshore is checked for correct completion 

    UNIT STANDARD CCFO DEMONSTRATING 
    To demonstrate an understanding of the world as a set of related systems when Residential status of recipient is established and funds remitted within the prescribed limits, the Travel Allowance is checked in the passport to ensure that it does not exceed the prescribed limit and the omnibus travel facilities for companies are monitored to ensure that the limits are not exceeded, and that the passports of the representatives are endorsed accordingly, in terms of exchange control rulings and or SARB Authority. 

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

    UNIT STANDARD NOTES 
    This unit standard replaces unit standard 7320, "Monitor and Control Purchases and Sales of Exchange (Form E & Form A) in a banking environment", Level 5, 18 credits.

    Legal:
  • Exchange Control Rulings 

  • QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  61589   National Certificate: Banking  Level 5  Level TBA: Pre-2009 was L5  Reregistered  2021-06-30  As per Learning Programmes recorded against this Qual 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    1. Chartall Business College 
    2. Felix Risk Training Consultants 
    3. The Institute of Literacy Advancement 



    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.