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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD: 

Apply knowledge of legislation, product features and risk to modify terms and conditions for a specific group risk contract 
SAQA US ID UNIT STANDARD TITLE
120002  Apply knowledge of legislation, product features and risk to modify terms and conditions for a specific group risk contract 
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 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 people in Research and Development that decide on underwriting practice and Underwriters who assess Long-Term risk.

The qualifying learner is capable of:
  • Analyse the risk in an existing group risk contract.
  • Indicate how legislation could impact on the modification of a group risk contract.
  • Analyse product features of a group risk contract.
  • Negotiate changes to the terms and conditions of a group risk contract. 

  • 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 Level 4. 

    UNIT STANDARD RANGE 
    The typical scope of this Unit Standard is:
  • Legislation includes, but is not limited to, FICA, Labour Relations Act, Long Term Act, Pension Funds Act, Employment Equity Act, and the Income Tax Act.
  • The client may be an intermediary, insurer or reinsurer. 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Analyse the risk in an existing group risk contract. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The claims experience for a group is analysed in terms of exposure. 

    ASSESSMENT CRITERION 2 
    Trends in a claims experience are interpreted in order to determine exceptional risks. 

    ASSESSMENT CRITERION 3 
    The financial implications of the exposure are analysed in order to recommend possible changes to terms and conditions. 

    SPECIFIC OUTCOME 2 
    Indicate how legislation could impact on the modification of a group risk contract. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Legislation that impacts on group risk contracts is identified and an indication is given of how each Act impacts on a group risk contract. 

    ASSESSMENT CRITERION 2 
    A group risk contract is analysed in order to propose changes and check for compliance. 

    SPECIFIC OUTCOME 3 
    Analyse product features of a group risk contract. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Risk information is applied to an existing product in order to propose changes to the product features. 

    ASSESSMENT CRITERION 2 
    The proposed changes are checked for compliance. 

    SPECIFIC OUTCOME 4 
    Negotiate changes to the terms and conditions of a group risk contract. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    A proposal to modify a group risk contract is presented to the client. 

    ASSESSMENT CRITERION 2 
    The need for the changes is motivated with reference to legislative and risk changes. 

    ASSESSMENT CRITERION 3 
    A conclusion is reached to extend or terminate a group risk contract. 


    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 
    The learner is able to identify problems, make decisions and recommendations and give feedback on matters that impact risk in the Long-Term insurance industry. 

    UNIT STANDARD CCFO ORGANISING 
    The learner is able to organise him/herself and his/her activities responsibly and effectively to maximise effectiveness and productivity. 

    UNIT STANDARD CCFO COLLECTING 
    The learner is able to critically evaluate information in order to identify trends, inform decisions and make recommendations. 

    UNIT STANDARD CCFO COMMUNICATING 
    The learner is able to communicate effectively in negotiating modified terms and conditions for a group risk contract. 

    UNIT STANDARD CCFO DEMONSTRATING 
    The learner is able to see the world as a set of related systems in recognising the financial implications and the relationship between the claims experience, risk exposure. 

    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 
    N/A 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  49834   National Certificate: Financial Services: Long-Term Risk Assessment  Level 5  Level TBA: Pre-2009 was L5  Passed the End Date -
    Status was "Reregistered" 
    2012-06-30  INSETA 
    Elective  49860   National Diploma: Financial Services: Long-Term Risk Assessment  Level 5  NQF Level 05  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. 



    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.