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: 

Analyse and interpret qualitative and quantitative data from relevant reports in order to make a recommendation or inform a decision for an entity 
SAQA US ID UNIT STANDARD TITLE
242559  Analyse and interpret qualitative and quantitative data from relevant reports in order to make a recommendation or inform a decision for an entity 
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  5 
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
2026-06-30   2029-06-30  

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 learners who interpret data for risk analysis and who receive and work with actuarial specialist and other reports and are required to make informed decisions based on the data and information provided. It would be useful for senior people in administration and managed care, professionals who consult to medical schemes, risk managers, medical advisors, Trustees, Medical Scheme Consultants, Principal Officers, and Senior Operational Administrative Staff, Financial Planners, Broker Consultants, Bankers and anyone in financial services who needs to make decisions based on qualitative and quantitative data.

The qualifying learner is capable of:
  • Explaining own role and responsibility in making an informed decision or recommendation for an entity.
  • Analysing information required to make an informed decision or recommendation.
  • Contextualising data for a specific entity.
  • Interpreting global and local issues that relate to a selected entity's risk pool.
  • Making and substantiating a decision or recommendation for an entity. 
    		•

    LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    It is assumed that learners are competent in Communication and Mathematical Literacy at NQF Level 4. 

    UNIT STANDARD RANGE 
    The typical scope of this Unit Standard is:
  • Entity includes Boards of Trustees of Medical Schemes, Retirement Funds and Employer Boards of Management.
  • Compliance includes acts of omission and commission.
  • Actuarial models include, but are not limited to predictive models.
  • Organisation of data includes, but is not limited to, trends over time, benchmarks, comparisons and claims patterns.
  • Statistical tools include, but are not limited to, graphs, computer programmes, tables, statistical programmes and models.
  • Economic impact includes, but is not limited to, changes in demography and current risk pool.
  • Criminal activities include, but are not limited to, customer/client/member, employees, officials and outside threats. 
    		•

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Explain own role and responsibility in making an informed decision or recommendation for an entity. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    The individual's own role in decision making is explained with reference to fiduciary duty, delegation, responsibility and accountability. 

    ASSESSMENT CRITERION 2 
    The legislative environment within which the entity operates is explained with reference to the consequences of non-compliance. 

    SPECIFIC OUTCOME 2 
    Analyse information required to make an informed decision or recommendation. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    The purpose of the data and/or reports is clarified and the information is assessed to determine whether it achieves the purpose for which it is intended. 

    ASSESSMENT CRITERION 2 
    The reliability, authenticity and credibility of the data are discussed to determine whether or how to use the data set. 

    ASSESSMENT CRITERION 3 
    Knowledge of basic risk management principles, selected business risk and actuarial models are applied to the analysis of the information. 

    ASSESSMENT CRITERION 4 
    Data management and information management are discusses and compared with reference to the role of each in decision making. 

    SPECIFIC OUTCOME 3 
    Contextualise data for a specific entity. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    Data is organised to allow appropriate interpretation. 

    ASSESSMENT CRITERION 2 
    Statistical tools are applied to contextualise and integrate data. 

    ASSESSMENT CRITERION 3 
    Knowledge of economics is applied to explain the potential economic impact of a recommendation or decision. 

    SPECIFIC OUTCOME 4 
    Interpret global and local issues that relate to a selected entity's risk pool. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    Current trends and issues affecting mortality or morbidity that could impact on an entity's risk pool are identified in terms of upside and downside risk. 

    ASSESSMENT CRITERION 2 
    The impact of potential criminal activities on a selected entity are analysed with reference to the risk pool. 

    SPECIFIC OUTCOME 5 
    Make and substantiate a recommendation or decision for an entity. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    All relevant data and information is integrated to propose a course of action for an entity. 

    ASSESSMENT CRITERION 2 
    The potential consequences of the recommendations are interrogated to determine the effectiveness of the proposal and any unforeseen implications. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
  • Anyone assessing a candidate against this Unit Standard must be registered as an assessor with the relevant ETQA or ETQA where a Memorandum of Understanding (MOU) exists with the relevant ETQA.
  • Any institution offering learning that will enable achievement of this Unit Standard must be accredited as a provider through the relevant ETQA or ETQA where a Memorandum of Understanding (MOU) exists with the relevant ETQA.
  • Moderation of assessment will be overseen by the relevant ETQA according to the moderation guidelines and the agreed ETQA procedures. 
    		•

    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 and solve problems in which responses show that responsible decisions using critical and creative thinking have been made in making and substantiating and recommendation or decision for an entity. 

    UNIT STANDARD CCFO COLLECTING 
    The learner is able to collect, organise and critically evaluate information in contextualising and analysing data. 

    UNIT STANDARD CCFO COMMUNICATING 
    The learner is able to communicate effectively proposing a course of action for an entity. 

    UNIT STANDARD CCFO DEMONSTRATING 
    The learner is able to see the world as a set of related systems in applying knowledge of economics to explain the potential economic impact of a recommendation or decision. 

    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 
    Search words: Analysis, interpretation of data, financial decision making. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Fundamental  80547   National Certificate: Auctioneering Practices  Level 5  NQF Level 05  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  SERVICES 
    Elective  65649   National Certificate: Official Statistics  Level 5  Level TBA: Pre-2009 was L5  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  PSETA 
    Elective  57918   National Certificate: Short Term Insurance  Level 5  Level TBA: Pre-2009 was L5  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  INSETA 
    Elective  66611   National Certificate: Wealth Management  Level 5  NQF Level 05  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  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.
     
    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.