SAQA

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SOUTH AFRICAN QUALIFICATIONS AUTHORITY

REGISTERED UNIT STANDARD THAT HAS PASSED THE END DATE:

Perform basic mathematical calculations in a banking environment

SAQA US ID	UNIT STANDARD TITLE
12758	Perform basic mathematical calculations in a banking environment
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 3	NQF Level 03	4
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 does not replace any other unit standard and is not replaced by any other unit standard.

PURPOSE OF THE UNIT STANDARD

Persons credited with this Unit Standard are able to perform basic mathematical calculations relevant to banking and asset based financing.

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING

The learner should have achieved ABET level 4 numeracy skills.

UNIT STANDARD RANGE

Interest rates, the time value of money, VAT calculations, installments in advance and arrears, and balances calculations, exchange rates.

Specific Outcomes and Assessment Criteria:

SPECIFIC OUTCOME 1

Select and perform basic interest rate calculations in a banking environment.

ASSESSMENT CRITERIA

ASSESSMENT CRITERION 1

1.The principles of simple and compound interest rates are described in terms of their differences and applications.

ASSESSMENT CRITERION 2

2.The correct calculation is selected for the problem.

ASSESSMENT CRITERION 3

3.Simple interest rates on different day bases are calculated in practical situations.

ASSESSMENT CRITERION 4

4.Broken days are calculated in practical situations.

SPECIFIC OUTCOME 2

Explain, select and perform calculations based on the time value of money.

ASSESSMENT CRITERIA

ASSESSMENT CRITERION 1

1.Discounting and compounding calculations are performed in a banking context.

ASSESSMENT CRITERION 2

2.Discounts, interest rates and yields are converted to one another.

ASSESSMENT CRITERION 3

3.The relationship between interest rates, inflation and the economy is explained using practical examples.

ASSESSMENT CRITERION 4

4.The monetary implications of arrears is calculated and explained in practical situations.

ASSESSMENT CRITERION 5

5.Perform payment calculations in advance and in arrear in an asset based financing context.

SPECIFIC OUTCOME 3

Explain and apply VAT related calculations.

ASSESSMENT CRITERIA

ASSESSMENT CRITERION 1

1.The concept of VAT is explained and applied to practical examples.

ASSESSMENT CRITERION 2

2.The role of VAT as a progressive tax is explained in an economic context.

ASSESSMENT CRITERION 3

3.VAT is calculated on a chain of banking related transactions.

ASSESSMENT CRITERION 4

4.The VAT implications of banking and asset based financing arrangements are calculated and explained in practical situations.

ASSESSMENT CRITERION 5

5.The legal aspects of VAT payments are described in an asset based financing context.

SPECIFIC OUTCOME 4

Explain and perform exchange rate calculations in a banking context.

ASSESSMENT CRITERIA

ASSESSMENT CRITERION 1

1.Current relevant buy and sell exchange rates are identified using at least two reference sources.

ASSESSMENT CRITERION 2

2.Local and foreign currencies are converted to one another.

ASSESSMENT CRITERION 3

3.The circumstances under which exchange rate calculations are performed in a banking and asset based financing environment are identified using case studies.

ASSESSMENT CRITERION 4

4.Exchange rate calculations are applied in a variety of banking and asset based financing situations.

SPECIFIC OUTCOME 5

Apply the use of basic business arithmetic in a banking environment.

ASSESSMENT CRITERIA

ASSESSMENT CRITERION 1

1.Ratios relating to financial statements are calculated using practical examples (for example, liquidity ratios to determine a client's ability to pay their dues).

ASSESSMENT CRITERION 2

2.The use of percentages in calculating growth, change, discounts, mark-ups and selling prices is applied in a banking and asset based financing context.

ASSESSMENT CRITERION 3

3.Percentages and decimal notations are converted to one another.

ASSESSMENT CRITERION 4

4.Missing elements in simple equations are calculated using banking related examples.

UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS

Accreditation for this Unit Standards shall be from the relevant education and Training Quality Assurer through formative and summative assessment by a registered Assessor. Assessment should be contextual and be conducted in the workplace as far as possible.

The relevant NSB and SGB should be notified of any feedback related to this qualification.

Assessors must be registered as an Assessor with the relevant ETQA.

Moderators must be registered as assessors with the relevant ETQA.

Training providers must be accredited by the relevant ETQA.

Moderation should include both internal and external moderation where applicable.

The relevant ETQA will co-ordinate all moderation activities in accordance with their policies and procedures.

UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE

The learner should have numeracy and literacy skills to at least ABET level 4.

Critical Cross-field Outcomes (CCFO):

UNIT STANDARD CCFO COLLECTING

The learner is able to collect, analyse, organise and evaluate information when determining the correct type of calculation to perform in a given situation.

UNIT STANDARD CCFO COMMUNICATING

The learner is able to communicate effectively using visual, mathematical and / or language skills in the modes of oral and / or written persuasion when performing calculations and communicating the impact of the results of those calculations.

UNIT STANDARD CCFO SCIENCE

The learner is able to use science and technology effectively when applying their use to basic mathematical calculations.

REREGISTRATION HISTORY

As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015.

QUALIFICATIONS UTILISING THIS UNIT STANDARD:

	ID	QUALIFICATION TITLE	PRE-2009 NQF LEVEL	NQF LEVEL	STATUS	END DATE	PRIMARY OR DELEGATED QA FUNCTIONARY
Elective	20184	National Certificate: Banking	Level 3	NQF Level 03	Passed the End Date - Status was "Reregistered"	2023-06-30	BANKSETA

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.	Chartall Business College
2.	Fachs Business Consulting and Training
3.	Octomate Education Pty Ltd
4.	SIGNA ACADEMY (PTY) LTD
5.	Trainers Without Borders