SAQA 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.
SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD: 

Apply a researched trend to refine non-medical risk assessments in terms of avocation and occupation 
SAQA US ID UNIT STANDARD TITLE
120010  Apply a researched trend to refine non-medical risk assessments in terms of avocation and occupation 
ORIGINATOR
SGB Insurance and Investment 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
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  10 
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 does not replace any other unit standard and is not replaced by any other unit standard. 

PURPOSE OF THE UNIT STANDARD 
This Unit Standard is intended for learners who assess Long-Term risk including Reinsurers, actuarial students, Product Developers, Senior Claims Assessors, Senior Underwriters, learners in tendering, pricing and quoting, group benefits and marketing.

The qualifying learner is capable of:
  • Analysing the risk in high risk occupations and avocations.
  • Applying technical knowledge of products and benefits to assess a high risk.
  • Analysing the effect of environmental issues on Long-Term risk.
  • Analysing morbidity and mortality trends to determine possible changes to underwriting and/or pricing practice. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    Learners should be competent in Communication and Mathematical Literacy at Level 4. 

    UNIT STANDARD RANGE 
    The typical scope of this Unit Standard is decisions to assess a Long-Term high risk without referral:
  • Evidence of sound management practices include, but are not limited to, finance allocated for the management of risk, financial management in high risk financial transactions.
  • Professional bodies include, but are not limited to, occupation and avocation related bodies for scuba diving, sky diving, mountaineering, mining and commercial aviation.
  • Resources may be related to avocations or medical facilities and services. 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Analyse the risk in high risk occupations and avocations. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The risk factors in a high risk occupation and avocation are evaluated against industry norms in order to explain the reason for a specific decision. 

    ASSESSMENT CRITERION 2 
    Documentation submitted in support of an application is interpreted in order to evaluate the risk. 

    ASSESSMENT CRITERION 3 
    Personal and business financial statements are analysed for evidence of sound management practices and potential financial risk. 

    ASSESSMENT CRITERION 4 
    The necessary financial or legal documents are sourced to support a financial long- term risk assessment. 

    ASSESSMENT CRITERION 5 
    The role of professional bodies is explained with reference to maintaining standards and minimising risk. 

    ASSESSMENT CRITERION 6 
    Resources available in a particular place are researched in order to determine a risk profile. 

    SPECIFIC OUTCOME 2 
    Apply technical knowledge of products and benefits to assess a high risk. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The impact of an occupation or avocation on a specific benefit or product is analysed in order to determine the risk. 

    ASSESSMENT CRITERION 2 
    The concept of anti-selection and the assessment practices for minimising anti-selection are understood and applied to five case studies. 

    ASSESSMENT CRITERION 3 
    Indications of potential fraud or non-disclosure relating to social and economic risk are identified in five case studies. 

    SPECIFIC OUTCOME 3 
    Analyse the effect of environmental issues on Long-Term risk. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The dangers associated with different industries and the risk involved in different categories of work within each industry are analysed in relation to mortality and morbidity. 

    ASSESSMENT CRITERION 2 
    The assessment considerations associated with different economic sectors are explained with reference to industry and global experience. 

    ASSESSMENT CRITERION 3 
    The South African environment, associated risks and competitive practices within this environment are explained with reference to why a company targets a particular market segment. 

    ASSESSMENT CRITERION 4 
    Data is used to support an organisation's marketing decision. 

    ASSESSMENT CRITERION 5 
    The impact of environment and geographic location on the assessment of risk is explained for five different scenarios. 

    SPECIFIC OUTCOME 4 
    Analyse morbidity and mortality trends in order to determine possible changes to underwriting and/or pricing practices. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Mortality, morbidity and an organisation's risk profile are analysed to identify and explain trends. 

    ASSESSMENT CRITERION 2 
    Possible changes in assessment practice are recommended for a specific organisation based on a risk analysis. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
    This Unit Standard will be internally assessed by the provider and moderated by a moderator registered by a relevant accredited ETQA or an ETQA that has a Memorandum of Understanding with the relevant accredited ETQA. 

    UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
    N/A 

    UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    The learner is able to identify problems, make decisions and recommendations and give feedback on matters that impact on risk profiles in the Long-Term insurance industry. 

    UNIT STANDARD CCFO ORGANISING 
    The learner is able organise his/her activities responsibly and effectively conducting the required research and organising information required to make a decision about high avocation and occupation risk. 

    UNIT STANDARD CCFO COLLECTING 
    The learner is able apply information, evaluate trends, make recommendations and propose changes in underwriting practice. 

    UNIT STANDARD CCFO COMMUNICATING 
    The learner is able communicate effectively in analysing, documenting and presenting information about high risks associated with occupations and avocations. 

    UNIT STANDARD CCFO SCIENCE 
    The learner is able using a computer effectively to research information and trends. 

    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 
    N/A 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Core  49834   National Certificate: Financial Services: Long-Term Risk Assessment  Level 5  Level TBA: Pre-2009 was L5  Passed the End Date -
    Status was "Reregistered" 
    2012-06-30  INSETA 
    Core  49860   National Diploma: Financial Services: Long-Term Risk Assessment  Level 5  NQF Level 05  Reregistered  2023-06-30  INSETA 
    Elective  57918   National Certificate: Short Term Insurance  Level 5  Level TBA: Pre-2009 was L5  Reregistered  2023-06-30  INSETA 


    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. African Resources & Financial Training (Pty) Ltd 
    2. CKP Development Agency (Pty) Ltd. 
    3. Invuya Institute of Learning (Pty) Ltd 
    4. Masifunde Training Centre (Pty) Ltd 
    5. Ripple Effect 4 (Pty) Ltd 



    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.