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 THAT HAS PASSED THE END DATE: 

Process a claim in credit risk insurance 
SAQA US ID UNIT STANDARD TITLE
14978  Process a claim in credit risk insurance 
ORIGINATOR
SGB Financial Services 
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 4  NQF Level 04 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Passed the End Date -
Status was "Registered" 
2003-10-08  2006-10-08  SAQA 0150/03 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2007-10-08   2010-10-08  

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 is replaced by: 
US ID Unit Standard Title Pre-2009 NQF Level NQF Level Credits Replacement Status
242670  Mitigate a potential loss and process a claim in trade credit insurance.  Level 4  NQF Level 04  Complete 

PURPOSE OF THE UNIT STANDARD 
This Unit Standard is intended for learners who work in the field of credit insurance.

The qualifying learner is capable of:
  • Reconciling a customer statement.
  • Interpreting and applying a policy document.
  • Understanding legal aspects that apply to claims assessing.
  • Processing a claim. 

  • 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 and Financial Literacy at NQF Level 3. 

    UNIT STANDARD RANGE 
    The typical scope of this Unit Standard is:
  • Adverse information includes, but is not limited to RD cheques and automatic suspension of cover.
  • Relevant policy information includes, but is not limited to, buyer information, date of credit limit, amount of credit limit, special conditions, limit of discretion, money in suspense, terms granted, date of notification, special endorsements, goods delivered, the basis for entertaining the claim and reasons for defaulting.
  • A legal entity is a sole proprietary, partnership, closed corporation, private company (Pty), public company (Ltd), trust and incorporated.
  • Documents required to confirm legal status include, but are not limited to, credit application, ITC report, invoices and bank reports. 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Reconcile a customer statement. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. A customer statement is analysed and the information is organised on a reconciliation sheet and balanced to the statement amount. 

    ASSESSMENT CRITERION 2 
    2. The reconciliation is analysed to determine trading history, the capital amount claimed, the claim amount, adverse information, special conditions and automatic suspension of cover. 

    ASSESSMENT CRITERION 3 
    3. Relevant policy information is recorder on the worksheet. 

    ASSESSMENT CRITERION 4 
    4. The legal fees paid and salvages received are determined in order to clear the suspense account and the amount is allocated to the claim. 

    SPECIFIC OUTCOME 2 
    Interpret and apply a policy document. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. The terms and conditions of a policy document are analysed and used to establish whether the insurer is on risk, based on the reconciliation. 

    ASSESSMENT CRITERION 2 
    2. A claim is calculated based on the policy document, reconciliation, special conditions and other evidence from the date of notification. 

    SPECIFIC OUTCOME 3 
    Demonstrate knowledge and understanding of legal aspects that apply to claims assessing. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. Documents required to confirm an entity are collated and checked in order to ensure payment is made on the correct legal entity. 

    ASSESSMENT CRITERION 2 
    2. The concept of a suretyship is explained with examples. 

    ASSESSMENT CRITERION 3 
    3. The concept of general notorial bonds is explained as it applies to special conditions. 

    ASSESSMENT CRITERION 4 
    4. The concept of cession is explained and an indication is given of the documents required to prove cession. 

    ASSESSMENT CRITERION 5 
    5. The concept of cross company guarantees is explained with examples. 

    SPECIFIC OUTCOME 4 
    Process a claim. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. Relevant information from the assessment is loaded on a claims system to process a claim. 

    ASSESSMENT CRITERION 2 
    2. The processed claim is checked for accuracy and referred for authorisation. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
    Accreditation for this Unit Standard shall be obtained from the relevant Education and Training Quality Assurance Body, through summative and formative assessment by a registered assessor.
  • Assessors must be registered as an Assessor with the INSQA or with an ETQA that has a Memorandum of Understanding with the INSQA.
  • Moderators must be registered as assessors with INSQA, or with an ETQA that has a Memorandum of Agreement with INSQA.
  • Training providers must be accredited by the relevant ETQA.

    Moderation should include both internal and external moderation where applicable. 

  • 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 are able to identify and solve problems in which responses show that responsible decisions using critical thinking have been made in assessing a claim. 

    UNIT STANDARD CCFO COLLECTING 
    Learners are able to collect, organise and critically evaluate information in assessing and processing a claim. 

    UNIT STANDARD CCFO SCIENCE 
    Learners are able to use technology effectively in assessing a claim. 

    UNIT STANDARD CCFO DEMONSTRATING 
    Learners are able to see the world as a set of related systems in understanding the effect of adverse information on a claim and the relationship between the factors considered in reconciling a customer statement. 

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    UNIT STANDARD NOTES 
    This unit standard has been replaced by unit standard 242670, which is ' Mitigate a potential loss and process a claim in trade credit insurance. ', Level 4, 6 credits. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  24396   National Certificate: Risk Management  Level 4  NQF Level 04  Passed the End Date -
    Status was "Registered" 
    2006-10-08  Was INSETA until Last Date for Achievement 


    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.