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

Investigate the structure of a financial services workplace 
SAQA US ID UNIT STANDARD TITLE
114962  Investigate the structure of a financial services workplace 
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 2  NQF Level 02  3 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Passed the End Date -
Status was "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
8078  Investigate the structure of an insurance company as a workplace  Level 2  NQF Level 02  10   

PURPOSE OF THE UNIT STANDARD 
This Unit Standard provides a broad introduction to the financial services industry and the insurance and investment sub-sectors. It is the starting point for learners in insurance and Category A intermediaries (as registered with the Financial Services Board). The focus is knowledge, skills, values and attitudes in relation to the learner's own context and experience of the world of work.

The qualifying learner is capable of:
  • Identifying the core business activities in a selected Financial Services organisation.
  • Identifying the support functions in a selected Financial Services organisation.
  • Explaining the role of a selected business unit in a Financial Services organisation and its contribution to the effectiveness of the organisation.
  • Investigating the different types of work done in a business unit. 
    		•

    LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    Learners should:
  • Hold a GETC or equivalent qualification; or
  • Be competent in Communication and Mathematical Literacy NQF Level 1. 
    		•

    UNIT STANDARD RANGE 
  • Core business activities include, but are not limited to, claims, new business, Underwriting, Research and Development, Processing policies, e-business financial advice and actuarial functions.
  • Support functions include, but are not limited to, Customer Service, Call Centres, Prospecting, Human Resources, Training and development, Salaries, IT, Forensic Auditing, Marketing, Adjusting/Assessing, Legal, Accounting/credit control, Investments, communications and PRO and Maintenance.
  • Business units may be sections or departments in large organisations or small organisations. Business functions may be within an organisation or between business units in different organisations.
  • Core business activities relate to the 10 sub-sectors of the insurance industry: Short Term; Long Term, Retirement Funding, Healthcare Benefit Administration, Trust Companies, Funeral Insurance, Sectorial Intermediaries, Financial Advisors, Re-insurance, Unit Trusts, Risk Management and Asset Management. 
    		•

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Identify the core business activities of a selected Financial Services organisation. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    The concept of core business is explained with an example from the Financial Services industry. 

    ASSESSMENT CRITERION 2 
    Specific core business activities are named with reference to the selected organisation. 

    ASSESSMENT CRITERION 3 
    The relationships between the different activities are described for the selected organisation. 

    ASSESSMENT CRITERION 4 
    A system or process within a selected work unit is described in the correct sequence. 

    ASSESSMENT CRITERION 5 
    Examples are listed of ways in which the core business adds value to the organisation. 

    ASSESSMENT CRITERION 6 
    The relationship between a selected organisation and other financial services organisations is illustrated graphically. 

    SPECIFIC OUTCOME 2 
    Identify support functions within a selected Financial Services organisation. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    The concept of support functions is explained with an example from the Financial Services industry. 

    ASSESSMENT CRITERION 2 
    Specific support functions are named with reference to the selected organisation. 

    ASSESSMENT CRITERION 3 
    The relationship between one support unit and the other business units of the selected organisation is explained with examples. 

    ASSESSMENT CRITERION 4 
    Five examples are listed in which the support unit adds value to the organisation. 

    SPECIFIC OUTCOME 3 
    Explain the role of a selected business unit in a Financial Services organisation. 
    OUTCOME NOTES 
    Explain the role of a selected business unit in a Financial Services organisation and its contribution to the effectiveness of the organisation. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    The main function of the selected business unit is explained in relation to core business or support. 

    ASSESSMENT CRITERION 2 
    Ways in which a business unit interacts with other business functions or units is explained with examples. 

    ASSESSMENT CRITERION 3 
    The most senior person in a business unit is identified with, where applicable, the title of his/her position. 

    ASSESSMENT CRITERION 4 
    The line is identified from the senior person in the business unit to the primary decision making body in the organisation. 

    ASSESSMENT CRITERION 5 
    The effect on the organisation if the department or section did not function effectively is described with examples. 

    ASSESSMENT CRITERION 6 
    The value that the business unit adds to the organisation is identified with examples. 

    SPECIFIC OUTCOME 4 
    Investigate the different types of work done in a business unit. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    The different work roles in the business unit are identified and an indication is given of the kind of work done by three people in the unit. 

    ASSESSMENT CRITERION 2 
    The work done in the business unit is categorised according to its purpose. 

    ASSESSMENT CRITERION 3 
    The importance of each category of work is discussed with reference to the efficiency of the business unit. 

    ASSESSMENT CRITERION 4 
    The work in the business unit is identified as a part of a set of related systems each with a role and a value. 

    ASSESSMENT CRITERION 5 
    The implications of FAIS and FICA for a selected work role are explained and an indication is given of the consequences of non-compliance. 


    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 
    Learners begin to explore education and career opportunities through investigating different roles and functions in a business unit of a financial services organisation. 

    UNIT STANDARD CCFO WORKING 
    Learners are able to work effectively with others as a member of an organisation when investigating the activities of a workplace. 

    UNIT STANDARD CCFO ORGANISING 
    Learners can manage themselves and their activities responsibly and effectively while collecting and preparing information, in order to explain the structure of a financial services organisation as a workplace. 

    UNIT STANDARD CCFO COLLECTING 
    Learners are able to collect, organise and evaluate information when identifying and explaining the core business activities and support functions in a selected insurance organisation. 

    UNIT STANDARD CCFO COMMUNICATING 
    Learners are able to communicate effectively and responsibly when explaining the role of a selected business unit and the different types of work carried out in that department. 

    UNIT STANDARD CCFO DEMONSTRATING 
    Learners are able to demonstrate an understanding of the world as a set of related systems by identifying the work performed in a selected business unit in relation to the work of the rest of the organisation. 

    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 8078, "Investigate the structure of an insurance company as a workplace", Level 2, 10 credits. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Core  48783   National Certificate: Financial Services  Level 2  NQF Level 02  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  INSETA 
    Core  49089   National Certificate: Financial Services  Level 3  NQF Level 03  Passed the End Date -
    Status was "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.
     
    NONE 


    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.