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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD: 

Research the incidence, quantity and severity of an occurrence in order to uncover a trend and anticipate a financial risk 
SAQA US ID UNIT STANDARD TITLE
242581  Research the incidence, quantity and severity of an occurrence in order to uncover a trend and anticipate a financial risk 
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 
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
14527  Research the incidence, quantity and severity of an occurrence in order to uncover a trend and anticipate a financial risk  Level 5  Level TBA: Pre-2009 was L5  Complete 

PURPOSE OF THE UNIT STANDARD 
This unit standard is intended for learners who are required to uncover trends that could indicate potential financial risk. The learner is required to make a financial decision or recommendation based on an interpretation of a trend. It is relevant to learners in Short Term Insurance, Financial Advisors and Planners, Intermediaries, Retirement Fund Consultants, Medical Scheme Intermediaries, Trustees, Principal Officers, Broker Consultants, Bankers and learners on Boards and/or Committees who make decisions based on researched information.

The qualifying learner is capable of:
  • Demonstrating knowledge and insight into events and trends that present a financial risk or opportunity.
  • Creating a brief to guide research into financial risk associated with an event or trend.
  • Analysing and interpreting information from a research document to identify a trend and the associated financial implications.
  • Recommending a course of action based on an interpretation of a trend. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    It is assumed that learners are competent in Communication and Mathematical Literacy at NQF Level 4. 

    UNIT STANDARD RANGE 
    The typical scope of this unit standard is:
  • Financial risks include risks associate with the natural, social, political, economic, legislative and regulatory environments. They include opportunities and threats and upside and downside risks.
  • The natural environment includes but is not limited to storms, floods, earthquakes and rock falls.
  • The social environment includes, but is not limited to, theft, fraud, strikes, HIV/AIDS, dread disease, pandemics, arson, hi-jacking and death from unnatural causes.
  • The political environment includes, but is not limited to elections, war, terrorism, type of governance and riots.
  • The economic environment includes, but is not limited to currency fluctuations, oil price, inflation, business interruption and economic indices.
  • The legislative environment includes, but is not limited to changes in legislation, regulations, government policy and liability losses.
  • Analytical techniques include, but are not limited to, trend analysis, regression analysis, confidence interval or another sensitivity analysis technique. 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Demonstrate knowledge and insight into events and trends that present a financial risk or opportunity. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Events in the natural environment are analysed in terms of the financial risk or opportunity associated with each event. 

    ASSESSMENT CRITERION 2 
    Events in the socio-economic environment are analysed in terms of the financial risks associated with each event. 

    ASSESSMENT CRITERION 3 
    Events in the political environment that could present a financial risk or opportunity are described with reference to insurance and investment risk. 

    ASSESSMENT CRITERION 4 
    Events in the legislative and regulatory environment that could present a financial risk or opportunity are analysed with reference to the potential impact on a business. 

    SPECIFIC OUTCOME 2 
    Create a brief to guide research into financial risk associated with an event or trend. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Questions are formulated to identify issues and inform the parameters of a research brief for a financial risk. 

    ASSESSMENT CRITERION 2 
    A brief is presented to guide research needed to assist in conducting a financial risk assessment for a specific event or trend. 

    SPECIFIC OUTCOME 3 
    Analyse and interpret information from a researched document to identify a trend and the associated financial implications. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Information in a researched document is analysed to identify gaps, bias and potential misinformation and relevance against a research brief. 

    ASSESSMENT CRITERION 2 
    Appropriate analytical techniques are applied to researched data to predict a trend. 

    ASSESSMENT CRITERION 3 
    Research information is interpreted and manipulated to explain identified trends from the point of view of a specific financial services sub sector or organisation. 

    SPECIFIC OUTCOME 4 
    Recommend a course of action based on an interpretation of a trend. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The severity of the risk associated with a specific occurrence is estimated for a specific financial services sub-sector or organisation. 

    ASSESSMENT CRITERION 2 
    The potential financial implications for an organisation, sub-sector or individual are inferred from an analysis of the research and knowledge of the organisation, sub-sector or individual. 

    ASSESSMENT CRITERION 3 
    A recommendation is made based on the interpretation of a trend. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
  • Anyone assessing a candidate against this unit standard must be registered as an assessor with the relevant ETQA or ETQA where a Memorandum of Understanding (MOU) exists with the relevant ETQA.
  • Any institution offering learning that will enable achievement of this Unit Standard must be accredited as a provider through the relevant ETQA or ETQA where a Memorandum of Understanding (MOU) exists with the relevant ETQA.
  • Moderation of assessment will be overseen by the relevant ETQA according to the moderation guidelines and the agreed ETQA procedures. 

  • 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 and solve problems in which responses show that responsible decisions using critical and creative thinking have been made in uncovering a trend and making a business decision based on the interpretation of a trend. 

    UNIT STANDARD CCFO COLLECTING 
    The learner is able to collect, organise and critically evaluate information in order to anticipate a financial risk. 

    UNIT STANDARD CCFO COMMUNICATING 
    The learner is able to communicate effectively using visual, mathematics and language skills in analysing a research document, using research information, uncovering a trend and participating in decision making. 

    UNIT STANDARD CCFO SCIENCE 
    The learner is able to use science and technology effectively and critically in manipulating information using a computer. 

    UNIT STANDARD CCFO DEMONSTRATING 
    The learner is able to demonstrate an understanding of the world as a set of related systems by recognising that problem-solving contexts do not exist in isolation by describing the implications and impact of environmental, social, political and economic occurrence, uncovering a trend and inferring potential financial risk. 

    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 14527, "Research the incidence, quantity and severity of an occurrence in order to uncover a trend and anticipate a financial risk", Level 5, 7 credits.

    Search words: trend, trend analysis, forecast. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  57918   National Certificate: Short Term Insurance  Level 5  Level TBA: Pre-2009 was L5  Reregistered  2023-06-30  INSETA 
    Elective  66611   National Certificate: Wealth Management  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. African Resources & Financial Training (Pty) Ltd 
    2. AFRICAN UNION SKILLS DEVELOPMENT PTY LTD 
    3. ALCARI 233 CC T/A ALCARI (Eversdal)(TP) 
    4. Boland Public FET College - Central Office 
    5. CKP Development Agency (Pty) Ltd. 
    6. COLLEGE OF CAPE TOWN 
    7. College of Cape Town - Central Office 
    8. False Bay College 
    9. Intec College 
    10. Invuya Institute of Learning (Pty) Ltd 
    11. Masifunde Training Centre (Pty) Ltd 
    12. North Link College 
    13. Old Mutual Life Assurance Company South Africa 
    14. Ray Strodl Consulting (Pty) Ltd 
    15. Ripple Effect 4 (Pty) Ltd 
    16. Sanlam Life Insurance Ltd 
    17. Sanlam Life Insurance Ltd. 
    18. South Cape College 
    19. South Cape Public FET College - Central Office 
    20. The Institute of Health Risk Managers (Pty) Ltd 
    21. Umfolozi FET College - Central Office 
    22. Universal Healthcare Services (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.