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: 

Demonstrate knowledge and understanding of the investment strategy of a selected medical scheme 
SAQA US ID UNIT STANDARD TITLE
243140  Demonstrate knowledge and understanding of the investment strategy of a selected medical scheme 
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 4  NQF Level 04 
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 replaces: 
US ID Unit Standard Title Pre-2009 NQF Level NQF Level Credits Replacement Status
113930  Apply industry knowledge to develop an investment strategy for a group retirement fund or medical scheme  Level 4  NQF Level 04  Complete 

PURPOSE OF THE UNIT STANDARD 
This Unit Standard is intended for learners in a financial services environment. It will add value to Trustees and Principal Officers of medical schemes who are required to make decisions relating to the investments of a fund as part of their fiduciary duties, and learners who work in medical scheme administration and implement the decisions of Trustees. It will be useful for Financial Managers, Fund Managers and members of Financial sub-committees.

The qualifying learner is capable of:
  • Analysing the claims history of a selected medical scheme.
  • Analysing events and trends that impact on the finances of a medical scheme.
  • Explaining the guidelines for investment in terms of current legislation.
  • Apply knowledge of investment in order to evaluate a proposed investment portfolio. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    It is assumed that learners are competent in Communication and Mathematical Literacy at Level 3. 

    UNIT STANDARD RANGE 
  • Either individual or group medical schemes. 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Analyse the claims history of a selected medical scheme. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The demographic profile of a selected medical scheme is analysed in terms of age profile, number of members and spread across benefit options. 

    ASSESSMENT CRITERION 2 
    The seasonal variation in claims is analysed and an indication is given of the implications of the variation for cash flow and investments. 

    ASSESSMENT CRITERION 3 
    Incidences of disease and injuries are analysed to determine trends and possible financial implications. 

    SPECIFIC OUTCOME 2 
    Analyse events and trends that impact on the finances of a medical scheme. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The implications of member shift on the financial position of a scheme is explained with reference to change of benefit options, sales targets, migration to other schemes, death and resignation. 

    ASSESSMENT CRITERION 2 
    Socio-political trends that impact on the financial status of a medical scheme are interpreted with specific reference to amendments to the Medical Schemes Act and Government policy. 

    SPECIFIC OUTCOME 3 
    Explain the guidelines for investment in terms of current legislation. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The legislated guidelines for medical scheme investments are explained with reference to investment parameters. 

    ASSESSMENT CRITERION 2 
    The importance of the financial statement and the explanatory notes relating to investments are explained and an indication is given of the consequences of non-compliance for trustees. 

    ASSESSMENT CRITERION 3 
    The investment mandate of a medical scheme is compared to projected and actual cash flow requirements, and checked for compliance with statutory requirements. 

    ASSESSMENT CRITERION 4 
    The impact of past investment decisions is explained and an indication is given of how past decisions affect current and future investment strategy. 

    SPECIFIC OUTCOME 4 
    Apply knowledge of investments in order to evaluate a proposed portfolio. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Asset classes appropriate for a specific medical scheme are identified with reference to the investment mandate. 

    ASSESSMENT CRITERION 2 
    The credentials of an asset manager are evaluated in terms of performance history, philosophy, processes and people. 

    ASSESSMENT CRITERION 3 
    Proposals from different investment fund managers are evaluated in order to make an investment decision. 


    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 capable of identifying and solving problems in which responses show that responsible decisions using critical thinking have been made in evaluating a proposed investment strategy for a medical scheme and making an informed decision. 

    UNIT STANDARD CCFO WORKING 
    The learner is able to work as a member of a team in that decisions about investment strategy are usually group decisions. 

    UNIT STANDARD CCFO COLLECTING 
    The learner is capable of collecting, organising and critically evaluating information in analysing the demographic profile of a medical scheme and events that impact on the finances of a selected medical scheme. 

    UNIT STANDARD CCFO COMMUNICATING 
    The learner is capable of communicate effectively discussing a proposed investment strategy. 

    UNIT STANDARD CCFO SCIENCE 
    The learner is capable of using technology effectively in using a computer to access and analyse data. 

    UNIT STANDARD CCFO DEMONSTRATING 
    The learner is capable of demonstrating an understanding of the world as a set of related systems by explaining the relationship between cash flow, seasonal variations in claims and investments and the impact of past decisions on current and future investment strategies. 

    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 
    This unit standard replaces unit standard 113930, " Apply industry knowledge to develop an investment strategy for a group retirement fund or medical scheme ", Level 4, 2 credits. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  66613   Further Education and Training Certificate: Wealth Management  Level 4  NQF Level 04  Reregistered  2021-06-30  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.
     
    1. African Resources & Financial Training (Pty) Ltd 
    2. CKP Development Agency (Pty) Ltd. 
    3. De Vries Management & Training Services cc 
    4. Faisit (Pty) Ltd 
    5. Masifunde Training Centre (Pty) Ltd 
    6. Ray Strodl Consulting (Pty) Ltd 
    7. RJM Educational Consulting (Pty) Ltd 
    8. Sanlam Life Insurance 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.