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: |
Demonstrate knowledge and understanding of South African law and the regulation of risk management |
SAQA US ID | UNIT STANDARD TITLE | |||
15007 | Demonstrate knowledge and understanding of South African law and the regulation of risk management | |||
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 | 4 |
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 |
242661 | Apply knowledge and understanding of South African law to the management of risk | Level 4 | NQF Level 04 | 4 |
PURPOSE OF THE UNIT STANDARD |
This Unit Standard is intended for learners who manage asset risk in insurance and other organisations.
The qualifying learner is capable of: |
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 legislation relevant to a sector.
|
Specific Outcomes and Assessment Criteria: |
SPECIFIC OUTCOME 1 |
Identify legislation that potentially impacts on the management of risk. |
ASSESSMENT CRITERIA |
ASSESSMENT CRITERION 1 |
1. Legislation that regulates risk management in general is identified with examples of how each Act applies to a specific sector. |
ASSESSMENT CRITERION 2 |
2. Relevant legislation that regulates financial aspects of risk management is identified with examples of how each Act applies to a specific sector. |
ASSESSMENT CRITERION 3 |
3. Legislation that regulates people management is identified with examples of how each Act applies to a specific sector. |
SPECIFIC OUTCOME 2 |
Explain the risks associated with non-compliance. |
ASSESSMENT CRITERIA |
ASSESSMENT CRITERION 1 |
1. The compliance aspects of five different Acts are analysed and an indication is given of the legal consequences of non-compliance for a specific sector. |
ASSESSMENT CRITERION 2 |
2. The business risks associated with non-compliance are analysed for five different pieces of legislation appropriate to a sector. |
ASSESSMENT CRITERION 3 |
3. The reputational risks associated with non-compliance are analysed for five different pieces of legislation appropriate to a sector. |
SPECIFIC OUTCOME 3 |
Use common law terminology in the correct context. |
ASSESSMENT CRITERIA |
ASSESSMENT CRITERION 1 |
1. The concept of legal liability is explained with examples. |
ASSESSMENT CRITERION 2 |
2. The concept of contractual liability is explained with examples. |
ASSESSMENT CRITERION 3 |
3. The concept of vicarious liability is explained with examples. |
ASSESSMENT CRITERION 4 |
4. The concept of negligence/delict is explained with examples. |
ASSESSMENT CRITERION 5 |
5. The concept of personal liability is explained with examples. |
ASSESSMENT CRITERION 6 |
6. The concept of public liability is explained with examples. |
ASSESSMENT CRITERION 7 |
7. The concept of professional indemnity is explained with examples. |
ASSESSMENT CRITERION 8 |
8. The concept of personal indemnity is explained with examples. |
SPECIFIC OUTCOME 4 |
Apply legislation that regulates risk management to a specific organisation. |
ASSESSMENT CRITERIA |
ASSESSMENT CRITERION 1 |
1. Legislation that impacts on risk management in a specific organisation is summarised in a table. |
ASSESSMENT CRITERION 2 |
2. The risks regulated in the legislation are categorized according to type. |
ASSESSMENT CRITERION 3 |
3. Policies, practices and systems in an organisation are evaluated for compliance and recommendations are made to reduce or transfer the risk. |
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.
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 capable of identifying and solving problems in which responses show that responsible decisions using critical and creative thinking have been made in evaluating policies and practices for compliance and recommending ways of reducing or transferring the risk. |
UNIT STANDARD CCFO COLLECTING |
Learners are capable of collecting, organising and critically evaluating information in evaluating the policies and practices of an organisation for compliance. |
UNIT STANDARD CCFO COMMUNICATING |
Learners are capable of communicating effectively in using common law terminology in the correct context. |
UNIT STANDARD CCFO DEMONSTRATING |
Learners are capable of seeing the world as a set of related systems in analysing business and reputational risk associated with non-compliance. |
UNIT STANDARD ASSESSOR CRITERIA |
N/A |
UNIT STANDARD NOTES |
This unit standard has been replaced by unit standard 242661, "Apply knowledge and understanding of South African law to the management of risk", Level 4, 4 Credits. |
QUALIFICATIONS UTILISING THIS UNIT STANDARD: |
ID | QUALIFICATION TITLE | PRE-2009 NQF LEVEL | NQF LEVEL | STATUS | END DATE | PRIMARY OR DELEGATED QA FUNCTIONARY | |
Core | 49129 | Further Education and Training Certificate (FETC): Management and Administration | Level 4 | NQF Level 04 | Passed the End Date - Status was "Reregistered" |
2023-06-30 | SERVICES |
Core | 48493 | National Certificate: Financial Services: Wealth Management | Level 4 | NQF Level 04 | Passed the End Date - Status was "Registered" |
2007-02-11 | Was INSETA until Last Date for Achievement |
Core | 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 |
Core | 60652 | Professional Qualification: Management and Administration | Level 4 | Level TBA: Pre-2009 was L4 | Passed the End Date - Status was "Reregistered" |
2023-06-30 | As per Learning Programmes recorded against this Qual |
Elective | 48640 | National Certificate: Financial Services Management | Level 4 | Level TBA: Pre-2009 was L4 | Passed the End Date - Status was "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. |
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. |