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: 

Price units and maintain unit registers for participating clients in pooled products 
SAQA US ID UNIT STANDARD TITLE
117832  Price units and maintain unit registers for participating clients in pooled products 
ORIGINATOR
SGB Banking and Micro Finance 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
BANKSETA - Banking Sector Education and Training Authority 
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  32 
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 does not replace any other unit standard and is not replaced by any other unit standard. 

PURPOSE OF THE UNIT STANDARD 
This Unit Standard is intended for persons who conduct administrative functions in the middle and back office in an Asset Management environment.

A person credited with this Unit Standard will be able to:
  • Calculate unit prices at all different levels of unitisation.
  • Create and cancel units for clients based on cash flows.
  • Maintain unit register for each participating client.
  • Calculate fees at different levels. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    It is assumed that learners are competent in:
  • Mathematical Literacy at NQF Level 4
  • Communication at NQF level 4
  • Accountancy or Economics at NQF level 5. 

  • UNIT STANDARD RANGE 
    The scope of this Unit Standard covers the following Pooled Product types:
  • Taxed:
    - Individual Taxed
    - Corporate Taxed
    - Company Taxed
  • Untaxed
  • Other - including Unit Trusts and company specific products 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Calculate unit prices at all different levels of unitisation. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Concept of unitisation for pooled products is defined as per company procedure. 

    ASSESSMENT CRITERION 2 
    Approaches to unitisation are defined in relation to pooled products versus collective investment schemes. 

    ASSESSMENT CRITERION 3 
    The Unitisation process is described for the required pooled product as per company procedure. 

    ASSESSMENT CRITERION 4 
    Unit price is calculated for the required pooled product at all levels (hierarchy) as per company procedure. 

    ASSESSMENT CRITERION 5 
    Discrepancies on unit pricing are dealt with for the required pooled product by comparing the calculated unit price to the applicable sectors in the market. 

    SPECIFIC OUTCOME 2 
    Create and cancel units for clients based on cash flows. 
    OUTCOME RANGE 
    Cash Flows:
  • Contributions and Withdrawals 

  • ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The concept of creation and cancellation of units at the different levels of unitisation is defined as per company procedure. 

    ASSESSMENT CRITERION 2 
    Procedures for the management of client cash flows are defined and impacts understood in relation to each pooled product. 

    ASSESSMENT CRITERION 3 
    Cash flows are applied in terms of product and client mandates, and units are created and cancelled as per the cash flows to defined company procedure. 

    SPECIFIC OUTCOME 3 
    Maintain unit register for each participating client. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The concept of creation and cancellation of units at client level is defined as per in-house procedure. 

    ASSESSMENT CRITERION 2 
    The concept of reconciliation of register is explained as per the set accounting practices (sum of the parts equal the whole at different levels). 

    ASSESSMENT CRITERION 3 
    The principles of client reporting is defined and different reports are explained and produced as per in-house procedure. 

    SPECIFIC OUTCOME 4 
    Calculate fees at different levels. 
    OUTCOME RANGE 
    Different levels at which fees are calculated.
  • Product Level
  • Client Level
  • Asset Portfolio Level 

  • ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The concept of fee calculation at different levels is explained and calculated as per the product specifications. 

    ASSESSMENT CRITERION 2 
    The concept and procedure of fee payment at different levels is explained and effected as per in-house procedure. 

    ASSESSMENT CRITERION 3 
    The impact of fee payment (cash flows) and rebates at different levels is explained, including transactions (cancellation of units and cash flow) to effect fee payments and rebates as per in-house procedure. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
  • An individual wishing to be assessed (including through RPL) against this Unit Standard may apply to an assessment agency, assessor or provider institution accredited by the relevant ETQA,or an ETQA that has a Memorandum of Understanding with the relevant ETQA.
  • Anyone assessing a learner against this Unit Standard must be registered as an assessor with the relevant ETQA or with an ETQA that has a Memorandum of Understanding with the relevant ETQA
  • Any institution offering learning that will enable achievement of this Unit Standard or assessing this Unit Standard must be accredited as a provider with the relevant ETQA or with an ETQA that has a Memorandum of Understanding with the relevant ETQA
  • Moderation of assessment will be conducted by the relevant ETQA at its discretion. 

  • UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
    The unitisation process from inception to pricing, unit register administration and reporting. 

    UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Identify and solve problems of unit price discrepancies, as this is complex with a high risk and cost factor. 

    UNIT STANDARD CCFO WORKING 
    Work effectively with others as a member of a team to calculate unit prices at all different levels of unitisation. 

    UNIT STANDARD CCFO ORGANISING 
    Organize and manage oneself and one's activities responsibly and effectively so as to conduct the unit pricing calculations accurately with no margin for error. 

    UNIT STANDARD CCFO COLLECTING 
    Collect, analyse, organise and critically evaluate information required to carry out the required unit pricing calculation and fee calculations. 

    UNIT STANDARD CCFO COMMUNICATING 
    Communicate effectively using mathematical and language skills to gather the required information to price units and maintain unit registers. 

    UNIT STANDARD CCFO SCIENCE 
    Use science and technology effectively in the process of applying pricing calculations required by clients. 

    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 
    Supplementary information:

    Legal:
  • Tax requirements applicable to Pooled Products.

    Terminology:

    Terminology relating to the Financial Markets can be found in "Who owns Whom's Dictionary of Stock Market Terms". ISBN 1-919850-04-X. 

  • QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  61589   National Certificate: Banking  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. Absa Learning & Development 
    2. African Bank Ltd 
    3. Chartall Business College 
    4. Plumb Line Risk Alignment 
    5. The Facilitation Workshop 
    6. The Institute of Literacy Advancement 



    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.