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 knowledge and skill to explain the application of structured long term insurance portfolios 
SAQA US ID UNIT STANDARD TITLE
242590  Apply knowledge and skill to explain the application of structured long term insurance portfolios 
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
14531  Apply technical knowledge and insight to explain the application of structured long term insurance portfolios  Level 5  Level TBA: Pre-2009 was L5  Complete 

PURPOSE OF THE UNIT STANDARD 
This Unit Standard is intended learners who are Product Developers, Wealth Managers, Personal Financial Planners and Intermediaries.

The qualifying learner is capable of:
  • Explaining the features of structured long term insurance portfolios.
  • Explaining how insurers construct and manage structured long term insurance portfolios.
  • Assessing the suitability of a structured long term insurance portfolio for a specific client.
  • Interpreting the performance of a structured long term insurance portfolio investment in relation to other asset classes. 

  • 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:
  • Impact of different market conditions includes, but is not limited to, interest rates, bull/bear market, inflation and currency movements.
  • Possible risks associated with structured long term investment portfolios include, but are not limited to, liquidity, tax, performance, and underlying instruments or components.
  • Traditional investment products include, but are not limited to, collective investments, offshore portfolios, fixed deposits and traditional smoothed bonus portfolios. 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Explain the features of structured long term insurance portfolios. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The components of a structured long term insurance portfolio is analysed with reference to guarantees and market exposure. 

    ASSESSMENT CRITERION 2 
    The term and liquidity constraints of a structured long term insurance portfolio are explained with reference to a particular product. 

    ASSESSMENT CRITERION 3 
    The fee structure of a structured long term insurance portfolio product is analysed and an indication is given of the impact of the fee on the performance of the product. 

    ASSESSMENT CRITERION 4 
    The use of tranche based products is explained with reference to pricing, benefits and features of selected products. 

    ASSESSMENT CRITERION 5 
    The relationship between the returns in a structured long term insurance portfolio and the returns in the market are explained and an indication is given of why there is a difference. 

    ASSESSMENT CRITERION 6 
    The difference between surrender value and intrinsic value of an investment is explained with reference to conditions under which it is reasonable to exit a structured long term insurance portfolio. 

    SPECIFIC OUTCOME 2 
    Explain how insurers construct and manage structured long term insurance portfolios. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    An investment is analysed to determine whether it is managed actively or passively and an indication is given of how value is created within the investment. 

    ASSESSMENT CRITERION 2 
    The market exposure in a specific portfolio is analysed in terms the potential risk and return of the investment. 

    ASSESSMENT CRITERION 3 
    The effect of different economic conditions on the ongoing and final performance of a structured long term insurance portfolio is explained with examples. 

    SPECIFIC OUTCOME 3 
    Assess the suitability of a structured long term insurance portfolio investment for a specific client. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The risks associated with structured long term insurance portfolios are explained with reference to a specific portfolio. 

    ASSESSMENT CRITERION 2 
    Situations where it is appropriate to recommend a structured long term insurance portfolio to a client are explained with reference to the client's total portfolio and investment objectives. 

    SPECIFIC OUTCOME 4 
    Interpret the performance of a structured long term insurance portfolio investment in relation to other classes. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Competitive structured long term insurance portfolio competitive products are compared and evaluated in terms of features, risk and potential return. 

    ASSESSMENT CRITERION 2 
    A structured long term insurance portfolio investment is evaluated against an alternative traditional investment product. 


    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 thinking have been made in indicating conditions under which it is reasonable to exit a structured long term insurance portfolio investment. 

    UNIT STANDARD CCFO COMMUNICATING 
    The learner is able to communicate effectively in explaining structured long term insurance portfolios to a client. 

    UNIT STANDARD CCFO DEMONSTRATING 
    The learner is able to demonstrate an understanding of the world as a set of related systems in explaining the risk return relationship of structured long term insurance portfolios and the appropriateness for a selected client. 

    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 14531, " Apply technical knowledge and insight to explain the application of structured long term insurance portfolios ", Level 5, 3 credits. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    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 UNION SKILLS DEVELOPMENT PTY LTD 
    2. ALCARI 233 CC T/A ALCARI (Eversdal)(TP) 
    3. Boland Public FET College - Central Office 
    4. CKP Development Agency (Pty) Ltd. 
    5. COLLEGE OF CAPE TOWN 
    6. College of Cape Town - Central Office 
    7. False Bay College 
    8. Intec College 
    9. Invuya Institute of Learning (Pty) Ltd 
    10. Masifunde Training Centre (Pty) Ltd 
    11. North Link College 
    12. Old Mutual Life Assurance Company South Africa 
    13. Ray Strodl Consulting (Pty) Ltd 
    14. Ripple Effect 4 (Pty) Ltd 
    15. Sanlam Life Insurance Ltd 
    16. Sanlam Life Insurance Ltd. 
    17. South Cape College 
    18. South Cape Public FET College - Central Office 
    19. The Institute of Health Risk Managers (Pty) Ltd 
    20. Umfolozi FET College - Central Office 
    21. 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.