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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED QUALIFICATION THAT HAS PASSED THE END DATE: 

Certificate: Financial Planning 
SAQA QUAL ID QUALIFICATION TITLE
62810  Certificate: Financial Planning 
ORIGINATOR
Milpark Education (Pty) Ltd 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY NQF SUB-FRAMEWORK
The individual Primary or Delegated Quality Assurance Functionary for each Learning Programme recorded against this qualification is shown in the table at the end of this report.  HEQSF - Higher Education Qualifications Sub-framework 
QUALIFICATION TYPE FIELD SUBFIELD
National Certificate  Field 03 - Business, Commerce and Management Studies  Finance, Economics and Accounting 
ABET BAND MINIMUM CREDITS PRE-2009 NQF LEVEL NQF LEVEL QUAL CLASS
Undefined  120  Level 5  Level TBA: Pre-2009 was L5  Regular-Provider-ELOAC 
REGISTRATION STATUS SAQA DECISION NUMBER REGISTRATION START DATE REGISTRATION END DATE
Passed the End Date -
Status was "Reregistered" 		 SAQA 0695/12  2012-07-01  2014-12-31 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2015-12-31   2018-12-31  

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 qualification is replaced by: 
Qual ID Qualification Title Pre-2009 NQF Level NQF Level Min Credits Replacement Status
96751  Higher Certificate in Financial Planning  Not Applicable  NQF Level 05  120  Complete 

PURPOSE AND RATIONALE OF THE QUALIFICATION 
Purpose:

The general purpose of this Certificate programme is to afford learners the opportunity to develop particular skills and aligned applied proficiencies in various subjects, such as: Financial Planning Business Environment; Basic Principles of Financial Planning; Financial Planning & Relationship Marketing; Financial Planning Products; Law; and Income Tax.

The primary purpose of the Certificate in Financial Planning is to provide and equip learners with a critical understanding and relevant skills to comply with and be effective in the field of financial planning within the banking environment.

The programme attempts to ensure that learners are competent to practice as specialist financial planners in the financial planning environment as well as able to provide specialist professional financial planning services to a range of clients in business and to apply knowledge, skills and competence for personal advancement and gainful economic activity in a lucrative professional field. This will ensure that South Africa is provided with a pool of capable qualifying learners and ensure that the foundation of innovative and knowledge-based economic and banking leadership is widened.

Further, the qualification aims to enhance the constructive role individuals need to play as intellectual leaders in the banking and commercial sectors of South Africa. The motivation for this qualification is to present appropriate and salient learning outcomes in the field of banking and specifically the sub-field of financial planning.

The Certificate in Financial Planning Programme provides a different and needed model of education in this discipline, some of its characteristics being:
  • As well as providing the learners with a solid grounding in the academic theory underpinning the main concepts of various business and banking related fields, the curriculum includes a practical component.
  • Also included in the curriculum is a range of relevant generalised modules that aim to broaden the knowledge base of our learners.
  • The result is a well-rounded qualifying learner who, on successful completion of the curriculum, has the option either of entering the world of work immediately, or of continuing with further study in the fields of Banking and Financial Planning.

    The qualification will thus empower learners to acquire knowledge, skills, attitudes and values required to operate responsibly in the financial planning sector.

    Rationale:

    The Certificate in Financial Planning was designed to accommodate the skill needs of entry-level learners and sector employees. This industry is understood to be highly regulated and the consequences of non-compliance with legislation are far-reaching. Learners are required to develop a sound knowledge of the financial and legal aspects of the financial services and planning environment. Within the Financial Planning industry learners are employed and promoted based on necessary compliance, technical knowledge, theoretical understanding and potential for further development.

    It is understood that the banking and financial planning industry, as a highly specialised entity, demands a labour pool of honest, ethical employees because of the fact that it works with other peoples' money. This Certificate in Financial Planning aims to develop learners with these very attitudes and values. In addition it is the aim of the qualification to give learners the opportunity to practice the skills they have learnt and apply the knowledge they have gained to their respective workplace (real or simulated) environments.

    The programme contributes to regional and national goals in a variety of ways, including:
  • Compliance with legislation.

    The programme was designed taking into account the requirements for the provision of sound financial planning expertise in terms of existing and proposed financial services legislation as well as the growth of the financial services and planning sphere globally.
  • Economic activity and development.

    This qualification promotes the enhancement, marketability and employability of learners and has the purpose of providing benefits to society and the economy by developing citizenship, increasing social and economic productivity providing specifically skilled/professional people and transforming the redressing of legacies of inequity. Additionally, it provides opportunities for continued personal intellectual growth, gainful economic activity and valuable contributions to society in the fields traditionally associated with financial services and local and international banking.
  • Broadening access to education.

    Damelin's policy of flexible entry together with the additional academic support components of the programme, make it possible for a greater number of learners to enter and succeed as learners of financial planning at a higher education level.
  • Inclusion of certain generic competencies.

    The curriculum is structured in such a way that learners, during the course of their studies will be exposed to certain generic competencies that will assist them in their future careers. Such competencies include:

    > The ability to work as a member of a team.
    > The ability to collect, analyse and present information.
    > A knowledge of the use of industry specific materials and apparatus.
    > The ability to use various methods of presentation for communication purposes.
    > The ability to identify and suggest possible solutions to a problem.
    > The ability to organise work requirements so as to meet set deadlines.
    > The ability to understand the world as a set of related systems by recognizing that problem-solving contexts do not exist in isolation.
  • Learners will be employable on graduation, but at the same time will have the knowledge base to continue with further learning.

    One of Damelin's overall objectives is to produce qualifying learners who are able either:

    > To enter and perform competently in the workplace immediately after qualification or;
    > To continue with further study in the field of their choice. We believe that the structure and content of the programme fulfils this objective, by enabling learners to build a solid knowledge base. 
    		•

    LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    The minimum level of learning required for a learner to enter and complete successfully the Milpark Business School Certificate in Financial Planning Programme is a level equivalent to that required for successful completion of the South African Grade 12 Examination.

    Further, given that the language of instruction is English, a learner entering the programme must be competent in the use of English.

    Recognition of Prior Learning:

    The Certificate in Financial Planning allows open access and may be achieved in part by Recognition of Prior Learning (RPL). Provision has been made for prior learning to be recognised if a learner is able to demonstrate competence in the knowledge, skills, values and attitudes implicit in this qualification.

    Prior learning is recognised in the following ways:
  • A student, who has completed a specific module/subject at Milpark Business School, may apply for credit for that module/subject.
  • A student, who has completed the equivalent of a specific module/subject either at Milpark Business School or at another recognised education institution, may apply for exemption from that module/subject.
  • In the case of a practically orientated module/subject, a student who is able to demonstrate appropriate competence may be granted exemption from that module/subject.

    Milpark Business School has prepared a system to recognize previous experiential learning and therefore, recognizes prior learning. Indeed, the great majority of Milpark Business School students are mature learners who have been in the work place for several years and who have learned on the job through attending local or international conferences and informal (in-house) courses, working with experts or even doing volunteer work after hours in the community. Milpark Business School acknowledges the value of this non-formal learning and has implemented a system to recognize experiential learning, we believe in giving educational opportunities to as many suitable candidates as possible - we therefore support and practice RPL. Further we assert that our RPL policy assists in addressing past inequities.

    It is therefore stated that whilst a qualification may be recognized in part or whole through the mechanism of RPL, it will be a comprehensive process for the applicant in that a thorough demonstration of capability and knowledge will be required. Assessment will take place through the preparation of a demanding Portfolio of Evidence and/or a challenge examination/s. It is understood that it will be in rare circumstances that applicants are awarded a qualification in whole through RPL, although it is stated that this is a possibility and incorporated as such into our RPL Policy.

    Assessment instrument/s ensure that the evaluation of the students meets the stringent requirements of Milpark Business School's Assessment Policy. Any RPL assessments conducted are measured against the Specific Outcomes of the particular module and/or programme. Lastly, students are permitted to appeal against an RPL assessment.

    Recognition of prior learning will then be based on various criteria.
  • Direct evidence - actual evidence produced by the learner, including the following:

    > Observation of a task.
    > Questioning the learner about the task.
    > Written evidence that the learner is able to undertake the task in terms of previous work experience.
  • Indirect evidence - evidence produced by the learner from another source (descriptions of performance from a third party), including the following:

    > Verification of completed work.
    > Performance appraisals.
    > Training records.
    > Testimonials.
    > Work-based learning.
    > Short courses.
    > Reviews and commendations.
    > Certificates and qualifications.
  • Historical evidence - informs the assessor what the learner was capable of doing in the past and may require additional evidence of corroboration.

    This could include, but is not limited to:

    > Observation of the task for which RPL is required.
    > Performance appraisal.
    > Questioning the learner about the task.
    > Verification of completed work.
    > Training records.
    > Testimonials.
    > Work-based learning.
    > Short courses.
    > Workshops attended.
    > Reviews and commendations.
    > Interviews.
    > Projects undertaken. 
    		•

    RECOGNISE PREVIOUS LEARNING? 
    Y 

    QUALIFICATION RULES 
    N/A 

    EXIT LEVEL OUTCOMES 
    Fundamental:

    1. Communicate effectively using verbal, non-verbal and written business communication forms in a workplace environment.
    2. Conduct one-self professionally demonstrating ethical behaviour in a workplace environment.
    3. Demonstrate an understanding of risk and risk tolerance in the Insurance and Financial Planning environment.

    Core:

    1. Demonstrate basic knowledge and understanding of legislation effecting financial planning in terms of the laws around insurance, contracts, customers and insolvency; including the Collective Investment Schemes Control Act and Financial Advisory & Intermediary Services Act; Long-term Insurance Act and Short-term Insurance Act and the Financial Intelligence Centre Act, Medical Schemes Act, Estate Duty Act, Capital Gains Act and Matrimonial Property Act.
    2. Demonstrate an understanding of the different forms of business ownership.
    3. Demonstrate the ability to apply the basic principles of financial planning.
    4. Show a basic understanding of South African Tax and its effect on financial planning.
    5. Demonstrate a basic understanding and overview of financial planning products.
    6. Competence in terms of knowledge and practical skills required to perform effectively in a career in the field of Financial Planning.
    7. Display an appropriate knowledge base as preparation for further learning.

    Elective:

    Learners complete the following compulsory elective: Financial Planning and Relationship Marketing, at the end of which they are expected to:

    1. Demonstrate an understanding of the elements of relationship marketing.
    2. Display awareness of the analysis phase of relationship marketing.
    3. Familiarity with the attributes of a financial advisor.
    4. Demonstrate an understanding of the importance of client relationships.
    5. Know how to identify the financial needs of the clients.
    6. Awareness of how to control client relationships.
    7. Be able to use relationship-marketing principles in the financial planning environment.

    Critical Cross-Field Outcomes:

    Demonstrate knowledge and understanding of fundamental as well as advanced concepts and principles.
  • The core concepts and principles of relevant subjects are identified, described and explained.
  • The relationships among the core concepts and principles are demonstrated.
  • The range and limits of applicability of the core concepts and principles are identified.
  • The core concepts and principles are applied to standard problems.
  • Examples of changes or advancements in knowledge and understanding in the relevant field is described and explained.

    Demonstrate reasoning skills through identifying and solve problems using critical and creative thinking.
  • Inductive (effect to cause or specific to general) and deductive (cause to effect or general to specific) reasoning can be discriminated.
  • Thinking and reasoning processes are reflected upon.
  • The self-conscious capacity to judge when understanding has been achieved or a problem has been adequately solved is demonstrated.
  • Concrete and abstract problems, in familiar and unfamiliar contexts, are formulated, analysed and solved.
  • The knowledge of theory is applied to particular real-world contexts.
  • Knowledge is integrated, e.g. from various disciplines or modes of enquiry, in solving problems.

    Manage and organise their learning activities responsibly.
  • Appropriate study skills are demonstrated (e.g. learning from text, summarising, analysis and synthesis).
  • Effective learning strategies which suit personal needs and contexts are developed and used (this includes use of both summative and formative assessment procedures).
  • Effective time management is required.

    Self manage skills development from the range of experiences and learning opportunities available.
  • Opportunities are maximized to gain learning and understanding from others.

    Apply knowledge and ways of thinking to societal issues, taking into account ethical and cultural considerations.
  • Knowledge and application that is relevant to current societal issues is identified.
  • Public information dealing with current issues is critically evaluated.
  • Ethical and culturally sensitive decisions of the effects of activities or productions on society are made.
  • The socio-economic impact of products in society is identified.
  • Knowledge is applied for the intended benefit of others.

    Demonstrate and understanding of the world as a set of related systems by recognizing that problem solving contexts do not exist in isolation.
  • Behaviour and actions are sensitive to the various cultures, working environments and sectors.
  • Actions are conducted with honesty and integrity through the adherence of a code of conduct.
  • Learner knows the effect of bad advice on the livelihood of the client and the viability of his/her business. 
    		•

    ASSOCIATED ASSESSMENT CRITERIA 
    Fundamental:

    1.
  • All communication oral and/or written with internal and external clients is appropriate for the circumstances and the client and use is made of the correct medium, format, vocabulary, terminology and register.
  • Communication makes use of non-verbal forms such as graphs, pie charts diagrams etc.
  • Appropriate language is correctly used to produce clear and coherent written documents, which follow accepted conventions.
  • Plagiarism is avoided and intellectual property is respected.
  • Non-verbal forms of representation are used correctly and appropriately.
  • Presentations make use of the appropriate electronic and/or hardcopy aids.

    2.
  • Ethical behaviour is understood together with the way in which ethics informs a code of conduct for a specific sector or workplace.
  • Ethical decisions are made of the effects of activities or productions on society.
  • The basic elements of the code of conduct that regulates the financial services industry and the specific employer in which the learner is employed are understood and applied in the learner's everyday practice.
  • The way in which ethics have determined legislation is explained in the South African context.

    3.
  • Risk in the Insurance and Financial Planning environment is understood.
  • The role of risk tolerance in financial decisions is described.
  • The time value of money and basic concepts and applications are discussed.
  • Calculations around Financial concepts - basic concepts are analysed, interpreted and compared for the decision-making process using financial techniques and financial mathematics.

    Core:

    1.
  • The laws around insurance, contracts, customers and insolvency are understood.
  • The Collective Investment Schemes Control Act and Financial Advisory & Intermediary Services Act can be assessed.
  • The Long-Term Insurance Act and Short-Term Insurance Act are discussed.
  • The Financial Intelligence Centre, Medical Schemes, Estate Duty, Capital Gains and Matrimonial Property Acts can be explained.

    2.
  • The different forms of business ownership are discussed.

    3.
  • An understanding of the theory and practice of South African financial planning services is applied.
  • The Principles of Financial Planning which includes the principles of life insurance, medical insurance and short-term insurance are described.
  • The securities market, source of information, risk/return, debt and equities, stocks, bonds, futures and security analysis, and portfolio construction and analysis are discussed.
  • Retirement planning issues, such as, tax-deferred plans and employee benefits, such as, Medicare, group life, disability and health insurance are explained.
  • Donations, estate and the many planning techniques used to minimize the impact of these taxes on transfers of wealth can be reviewed.
  • The non-tax aspects of estate planning, including the estate planning process, wills, trusts, durable powers of attorney, powers of appointment, and probate procedure are identified.

    4.
  • Various tax principles and tax that relates to the financial planning environment are discussed and can be explained.
  • Gross income, Exemptions, Allowable deductions, Disallowed deductions and Rates of normal tax are explained.
  • Capital gains tax, VAT and STC are described and explained.
  • Issues around tax and the investment strategy as well as tax on retirement funds are assessed.
  • Tax avoidance and tax evasion are explained.

    5.
  • The financial products available to a client are explained with examples.
  • The types of products available in the insurance industry are described.
  • The types of life insurance products and policy provisions are assessed.
  • Short-term insurance - overview, products, policy provisions are explained.
  • Medical expenses and disability insurance can be compared.
  • Long-term care insurance is discussed.
  • Personal property and liability insurance are defined and discussed.

    6.
  • The code of conduct and ethics as it relates to corporate and personal financial planning is studied and discussed orally.
  • Compliance is explained and the code is applied in daily practice when dealing with clients.
  • The consequences of non-adherence is identified and explained.

    7.
  • The qualifying student, having obtained the necessary skills, knowledge and attitudes is able to progress to a Level 6 qualification.

    Elective:

    1. The elements of relationship marketing are discussed and defined.
    2. The analysis phase of relationship marketing can be explained.
    3. The attributes of a financial advisor can be described.
    4. The importance of client relationships is understood.
    5. The financial needs of clients re able to be identified.
    6. Client relationships can be managed successfully.
    7. Relationship-marketing principles in the financial planning environment are understood and able to be applied.

    Integrated Assessment:

    Milpark Business School practices an integrated system of assessment, in terms of which learners are assessed on an ongoing basis. Both formative and summative assessment methods are used.

    Continual formative assessment is employed in study material so that learners can assess their progress, in the achievement of specific learning outcomes, including feedback. The formative assessment tasks can be found with each component of the study material in the form of one of the following:
  • A short questions test.
  • Construction of concept maps.
  • Short practical tasks.
  • Typical questions.

    Summative assessment is concerned with the judgement of the learning in relation to the exit-level outcomes of the qualification. Such judgement includes integrated assessment(s)' which test the learners' ability to integrate the larger body of knowledge, skills and attitudes that are represented by the exit-level outcomes as a whole. In terms of, the Certificate in Financial Planning at Milpark Business School, summative assessment takes the form of a final examination in each module. The marks attained in these activities constitute the learners' final mark for the module. The components of the final mark are determined separately for each module.

    Milpark Business School acknowledges that at this time feedback on formative assessments on the Certificate in Financial Planning appear in the form of suggested, ideal answers that enable the learner to see a more robust and whole answer to the question. The learner is then able to compare their answer with the 'more correct' answer. However, from 2006, it is the aim of this institution to advance and enhance the feedback system to ensure that in addition to a memorandum of correct responses, learners will also have their marked assignment returned to them with specific comments that will attempt to indicate to the learner their shortcomings and areas for growth.

    Milpark Business School then practices an integrated system of assessment, in terms of which learners are assessed on an ongoing basis. Formative assessment methods are employed within the courseware and, in addition, a specific and practical formative assignment (30%) is compulsory and counts towards the learner's final summative mark, while a summative assessment (70%) in the form of an examination completes the assessment cycle of the learner in a particular module. For the formative assessment, a learner will receive timely feedback on his or her assignment. Such formative and summative assessment measures are appropriate for the mode of study, the nature of the discipline as well as the assessment criteria. 
    		•

    INTERNATIONAL COMPARABILITY 
    This qualification has not been benchmarked against international qualifications as no exact qualification has been implemented in the United Kingdom or Australia - this is related to the fact that the motivation for this qualification is compliance with specific legislation in South Africa relating to the insurance sector in general and the financial planning sector in particular. It is felt that this qualification is equal in standard and would equate well with any similar qualification internationally were such a qualification developed. Moreover, given that:
  • The curriculum incorporates the latest trends and practices in the disciplines included.
  • Well-qualified academics and industry practitioners act as external examiners and moderators of the programme.

    We have no reason to doubt that the quality and content of our programme would meet international standards.

    Furthermore, the design of the curriculum has been influenced by contemporary developments in Banking and Financial Planning as well as distance education.

    This is an ongoing process that requires constant familiarisation with current practices and legislation in the field of Banking and Financial Planning and in the industry. In order to ensure that the Certificate keeps apace with developments curriculum relevance is constantly reassessed and enhanced for maximum effectiveness.

    In spit of no exact comparisons, the comparative process undertaken by the Milpark Business School involved comparing this qualification with similar international qualifications and certifications, particularly as this qualification forms an important part of the requirement to comply with dictates of the Financial Planning industry. In some cases the programmes investigated are thinner in terms of their offerings than this qualification and in other cases somewhat more comprehensive. Milpark Business School however, tried to ensure that our qualification covers areas of overlap continually being mindful of suitability for the South African Financial Planning industry. Generally however, in conducting such research around the comparability of the qualification to other learning institutions and universities offering similar courses in Financial Planning, it was established that Milpark Business School 's Certificate in Financial Planning faired extremely well.

    For the purposes of such research, specific countries were identified; in such countries, it was found that, in general, the specific and similar certificates are customized to meet that state and sector's legislative requirements, most especially with regard to regulations, practices and rules in the different countries. The comparability research was based on the broad parameters stipulated by the Financial Planners Institute of South Africa who in turn is guided in establishing such parameters by an audit from the international body that controls the CFP accreditation.

    In detailed terms, it was found that similar programmes are presented in the United Kingdom, Australia and New Zealand - all of which are recognised by the Chartered Institute of Financial Services. Such programmes generally consist of 14 semesterised modules and can be studied on a distance learning basis. In comparison Milpark Business School 's Certificate in Financial Planning consists of 6 year courses, equally comparable to the above-mentioned programmes in terms of content, outcomes and duration.

    The stated aims of the international programmes are as follows:
  • To enhance job-related skills by providing a syllabus of practical topics relevant to today's needs in the financial services industry.
  • To develop the students' knowledge and understanding of the financial services industry and the environment in which it operates.
  • To provide a basic knowledge and understanding of accountancy, the legal environment and the general economic environment.
  • To provide general knowledge and understanding of compliance and the regulatory system.
  • To develop study skills and skills in analysis, interpretation and communication.
  • To provide a foundation for entry to the Associate-ship course and then "Certified Financial Planners" examination.

    These aims are well correlated with Milpark Business School 's Certificate in Financial Planning in that the stated aims of this programme are to afford learners the opportunity to develop particular skills and aligned, applied proficiencies in various subjects, such as: Basic Principles of (Personal) Financial Planning; Basic Principles of (Business) Financial Planning; Relationship Marketing for Financial Planners; Financial Planning Products; Law for Financial Planners; and Income Tax. Further, the purpose of the Certificate in Financial Planning is to provide and equip learners with a critical understanding and relevant skills to comply with and be effective in the field of financial planning within the financial services sector.

    Thus it can be seen that the motivation for this qualification, much like similar international programmes (mentioned above) is to present appropriate and salient learning outcomes in the field of insurance and specifically the sub-field of financial planning.

    The semesterised subjects offered in the international programmes are as follows:
  • Introduction to Financial Services.
  • Basic accounting and taxation.
  • Economic environment.
  • Introduction to insurance.
  • Sales and service.
  • Introduction to investment.
  • Legal and regulatory environment.
  • Team development.
  • Introduction to marketing.
  • Basic products.
  • International services.
  • Telephone marketing.
  • E-commerce and internet applications/banking.
  • Short term insurance (Lloyd's).

    From this it is evident that the subject offerings in Milpark Business School 's Certificate in Financial Planning are well aligned with the international counterparts and the this particular programme lays a solid foundation for the Financial Planner in South Africa. 
    		•

    ARTICULATION OPTIONS 
    With regard to vertical articulation, a student who wishes to proceed to further studies at Milpark Business School or at another institution, having completed the Certificate in Financial Planning at Milpark Business School, should be able to do so based on the knowledge and skills acquired during the course of the programme, provided, of course, that his/her academic performance has been of the required standard.

    In terms of horizontal articulation:
  • A learner who transfers to another Certificate programme within Milpark Business School will be given credit for relevant modules successfully completed towards the Certificate in Financial Planning.
  • Learners, who, having completed certain modules in the Certificate in Financial Planning at Milpark Business School, wish to transfer to another tertiary level institution, are able to apply successfully for exemption from relevant modules on the basis of modules passed at Damelin.

    One of the objectives of our rigorous external moderation and examination procedure, and of our ongoing interaction with industry representatives as well as other tertiary institutions, is to ensure that the content and standard of our curriculum is such that our learners will have the opportunity for both vertical and horizontal articulation, both within and outside of Milpark Business School.

    External articulation possibilities - this certificate in Financial Planning, pegged at NQF level 5, will enable students to follow a career path towards the attainment of the prestigious qualification namely the CFP (Certified Financial Planner). Further, once the Certificate in Financial Planning is registered with SAQA, the graduate is permitted to sit for an admission exam at the College for Financial Planners in London, and have membership as an FPA (Financial Planner Advice). This will enable the learner to then study via any institution abroad that offers a qualification granting admittance to the CFP international board examination.

    Internal articulation possibilities - at this time this qualification is a stand alone programme, however it will facilitate a path for the learner who wants to proceed to more advanced studies in order to be admitted to the CFP Board Examination controlled by the FPI (Financial Planners Institute). This qualification is the first stage of this tiered process developed by Milpark Business School for the learner and will in time be followed by a Diploma or Advanced Cerficate, pegged on NQF level 6, which will provide vertical articulation possibilities for the student to post graduate studies at either the University of Free State or Milpark Business School and then the CFP examination. 
    		•

    MODERATION OPTIONS 
    Internal moderation:

    The academic/s responsible for a particular module are appointed as internal examiner/s for that module. Internal examiners are responsible for the marking of assessments related to the module for which they are responsible.

    External moderation:

    All final assessments at all levels of the curriculum are moderated by academic staff of public higher education institutions or by appropriately qualified industry practitioners.

    Good practice in the selection and appointment of assessors or external examiners is achieved by both academic and administrative involvement in approving the appointment of external examiners within Milpark Business School. This ensures that all staff members involved in appointments understand the criteria for the appointment of external examiners as well as that appointees are assessed effectively and rigorously.

    An external examiner is appointed in respect of each module or subject at all levels. Overall, all external examiners must have the following attributes:
  • Appropriate academic qualifications and/or practical experience Subject expertise in the field in question.
  • Previous experience as an examiner in an equivalent programme.

    Academic staff from various departments are sources of recommendation for the appointment of external examiners. The criteria, which are employed in the selection of external examiners, are:
  • Individuals having suitable experience and who have had some prior experience of external examining.
  • Have available sufficient time for the proper performance of function.
  • External examiners from outside the education system, for example from industry are appropriate in certain situations. The academic and/or professional standing of such examiners will be vetted by the Dean and/or Deputy Dean of the Faculty.

    External examiners who are Academics at other public universities must meet the following requirements:
  • A minimum of an honours Programme academic qualification in the subject concerned.
  • A minimum of 3 years teaching experience in the module he/she will moderate.
  • Previous experience as an examiner in an equivalent module.

    External examiners who are from Industry must meet the following requirements:
  • An appropriate academic qualification.
  • Considerable work experience in the field.
  • A reputation in the industry.

    External examiners are appointed for final assessments at every level of study. Prior to each examination session, a copy of each examination paper, together with a marking memorandum and course outline, is sent to the relevant external examiner for moderation. Once the internal examiner has marked the examination papers, a sample pack for each module is sent to the relevant external examiner. 
    		•

    CRITERIA FOR THE REGISTRATION OF ASSESSORS 
    N/A 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this qualification was Reregistered in 2009; 2012. 

    LEARNING PROGRAMMES RECORDED AGAINST THIS QUALIFICATION: 
    When qualifications are replaced, some of their learning programmes are moved to being recorded against the replacement qualifications. If a learning programme appears to be missing from here, please check the replacement.
     
    LP ID Learning Programme Title Originator Pre-2009
    NQF Level    		 NQF Level Min Credits Learning Prog End Date Quality
    Assurance
    Functionary    		 NQF Sub-Framework
    99608  Higher Certificate in Financial Planning (awarded against Qualification ID 62810 - all future awards will be against 96751)  Milpark Education (Pty) Ltd  Level 5  NQF Level 05  120     CHE  HEQSF 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THESE LEARNING PROGRAMMES: 
    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.
     
    LP ID Learning Programme Title Accredited Provider
    99608  Higher Certificate in Financial Planning (awarded against Qualification ID 62810 - all future awards will be against 96751)  Milpark Education (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.