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: 

Interpret current affairs related a selected business sub sector 
SAQA US ID UNIT STANDARD TITLE
117125  Interpret current affairs related a selected business sub sector 
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 3  NQF Level 03  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 replaces: 
US ID Unit Standard Title Pre-2009 NQF Level NQF Level Credits Replacement Status
8993  Interpret current affairs related to financial services in general and insurance in particular  Level 3  NQF Level 03  10   

PURPOSE OF THE UNIT STANDARD 
This Unit Standard requires learners to make connections between a business sector/industry and current events that could impact on the industry. It provides the opportunity for learners to make integrate knowledge learnt in other Unit Standards and current events as they occur so that they begin to apply their knowledge of the industry in authentic situations. The focus is on knowledge, skills, values and attitudes in relation to the learner's own context and experience of the world of work. It is intended that this Unit Standard should be based on events as they happen and the Standard is therefore not intended for the application of RPL. The focus is on prediction and anticipation of events rather than on historical research after the event. Portfolio assessment over a period of at least six months is required.


The qualifying learner is capable of:
  • Interpreting information about events in the physical environment that could impact on a selected business sub sector.
  • Identifying events in the socio-political environment that could impact on a selected business sub sector.
  • Identifying events in the economic environment that could impact on a selected sub sector.
  • Comparing business news events of importance. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    There is open access to this unit standard. Learners should be competent in communication and Mathematical Literacy at NQF Level 2. 

    UNIT STANDARD RANGE 
    The typical scope of this unit standard is:
  • News from a daily or weekly newspaper, television or radio newscast or other news medium. Learners are not expected to access information from dedicated financial newspapers or journals, but they are expected to compare the reporting of events in the main section and financial sections of a daily or weekly newspaper.
  • New developments include, but are not limited to, changing technology, Industry Charters, systems engineering, Research and Development and governance.
  • Aspects affected by an event include, but are not limited to, different sub-sectors, people issues, government, infrastructure and financial aspects. 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Interpret information about events in the physical environment that could impact on a selected business sub sector. 
    OUTCOME RANGE 
    Includes but is not restricted to climatic change, floods, earthquakes, drought and other natural disasters. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Current events in the physical environment are interpreted and an indication is given of their possible impact on the selected sub sector. 

    ASSESSMENT CRITERION 2 
    Events in the physical environment are compared in terms of severity and the potential impact on two aspects of the economy. 

    ASSESSMENT CRITERION 3 
    Reports on the same event in the physical environment from the main section and the business section of a daily or weekly newspaper or any other relevant medium of communication are compared and an indication is given of the differences between the reports. 

    SPECIFIC OUTCOME 2 
    Identify events in the socio-political environment that could impact on a selected business sub sector. 
    OUTCOME RANGE 
    Includes but is not restricted to elections, legislation, political unrest, terrorism, diseases, pandemics, war, riots, strikes and other socio political events or disasters. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Current events in the socio-political environment are interpreted and an indication is given of their possible impact on a selected sub-sectors. 

    ASSESSMENT CRITERION 2 
    Similar events in the socio political environment are compared in terms of severity and the potential impact is explained for the selected sub sector. 

    ASSESSMENT CRITERION 3 
    Reports on the same event in the socio-political environment from the main section and the business section of a daily or weekly newspaper or any other relevant medium of communication are compared and an indication is given of the differences between the reports. 

    SPECIFIC OUTCOME 3 
    Identify events in the economic environment that could impact on a selected sub sector. 
    OUTCOME RANGE 
    Includes but is not restricted to insolvencies, mergers, acquisitions, retrenchments, market fluctuations, currency fluctuations, the exchange value of the Rand, inflation, globalisation, wage negotiations, strikes and issues of governance. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Current events in the economic environment are interpreted and an indication is given of their possible impact on a selected sub-sectors. 

    ASSESSMENT CRITERION 2 
    Similar events in the economic environment are compared in terms of severity and the potential impact is explained for the selected sub sector. 

    ASSESSMENT CRITERION 3 
    The concept of inflation is explained with reference to the effect of inflation on insurance premiums, medical costs, investments, pensions, salaries, the costs of goods and services and the value of the Rand in real terms. 

    ASSESSMENT CRITERION 4 
    Socio-economic events are compared in terms of severity and the events are interpreted in terms of groups of people and kinds of work most likely to be affected by each event. 

    ASSESSMENT CRITERION 5 
    Reports on the same event in the economic environment from the main section and the business section of a daily or weekly newspaper or any other relevant medium of communication are compared and an indication is given of the differences between the reports. 

    SPECIFIC OUTCOME 4 
    Compare business news events of importance. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Events in business that make headline news are identified and prioritised in terms of importance of the event and possible repercussions within a selected sub sector. 

    ASSESSMENT CRITERION 2 
    New developments in a selected industry are examined and an indication given of their potential to improve business practice. 

    ASSESSMENT CRITERION 3 
    Two major events in a selected industry are compared in terms of their impact on a selected sub sector. 


    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 WORKING 
    Learners are able to explore a variety of strategies of learning when gathering information from a broad spectrum of media. 

    UNIT STANDARD CCFO ORGANISING 
    Learners are able to organise themselves and their activities in ensuring that they have access to the necessary media and resources and in reading/watching the news. 

    UNIT STANDARD CCFO COLLECTING 
    Learners are able to collect, organise and evaluate information when researching and interpreting current affairs and indicating the possible impact of current events on a business sector. 

    UNIT STANDARD CCFO COMMUNICATING 
    Learners can communicate effectively using visual, mathematics and language skills when presenting the findings of their research. 

    UNIT STANDARD CCFO SCIENCE 
    Learners are able to use technology to access news from radio, television, the Internet, Intranet, cell phones and other media. 

    UNIT STANDARD CCFO DEMONSTRATING 
  • Learners are able to demonstrate responsible citizenship by relating current events to a particular sub sector.
  • Learners are able to demonstrate an understanding of the world as a set of related systems when comparing and interpreting socio-political, economic and physical events and the groups of people and kinds of work most likely to be affected by the events. 

  • UNIT STANDARD CCFO CONTRIBUTING 
    Learners are able to develop cultural sensitivity in interpreting current events within the South African context. 

    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 has replaced 8993 which was "Interpret current affairs related to financial services in general and insurance in particular", Level 3 with 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  49089   National Certificate: Financial Services  Level 3  NQF Level 03  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. CKP Development Agency (Pty) Ltd 
    2. Invuya Institute of Learning (Pty) Ltd 
    3. RJM Educational Consulting (Pty) Ltd 
    4. Sanlam Life Insurance Ltd 
    5. The Graduate Institute of Financial Sciences (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.