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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD: 

Demonstrate knowledge and insight into the Collective Investment Schemes Control Act, 45 of 2002 (CISCA) 
SAQA US ID UNIT STANDARD TITLE
243155  Demonstrate knowledge and insight into the Collective Investment Schemes Control Act, 45 of 2002 (CISCA) 
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
12166  Demonstrate knowledge and insight into the Collective Investment Schemes Act, 45 of 2003 (CICSA)  Level 4  NQF Level 04  Complete 
12180  Describe the sales function in a Collective Investment Scheme Manager  Level 4  NQF Level 04  Complete 

PURPOSE OF THE UNIT STANDARD 
This Unit Standard is intended for learners who give financial advice and learners who work for Collective Investment Scheme Managers that administer collective investment schemes. It will be useful for Trainee Financial Planners, Intermediaries and learners in financial services call centres.

The qualifying learner is capable of:
  • Explaining different types of collective investment schemes.
  • Describing the main role players involved in a collective investment scheme.
  • Explaining ethical principles and practices described in the Collective Investment Schemes Control Act (CISCA) and subordinate legislation.
  • Describing the elements of the deed and documents of incorporation for a collective investment scheme. 

  • 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 
    The typical scope of this Unit Standard is:
  • Documents of incorporation include, but are not limited to, memoranda, articles of association, prospectus and supplementary prospectus.
  • The underlying assets in different types of collective investment schemes, include, but are not limited to securities, property and participation bonds.
  • Role players in a collective investment scheme are the investor, trustee, custodian, auditor, Collective Investment Scheme Manager, financial advisor, Regulator and professional association.
  • The different types of collective investment schemes include, but are not limited to unit trusts, open-ended investment schemes (OEICs), participatory bonds, declared collective investment schemes, trust based schemes, exchange traded funds (EFTs) and collective investment schemes in property.
  • Deeds include the main trust deed for a scheme and supplemental trust deeds.
  • Procedures for launching a portfolio include winding up, amalgamating and converting collective investment scheme portfolios.
  • Procedures for launching a collective investment scheme include winding up, amalgamating and converting collective investment scheme portfolios. 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Explain the different types of collective investment schemes. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The concept of participatory interest in a collective investment scheme portfolio is explained with examples. 

    ASSESSMENT CRITERION 2 
    The different types of collective investment schemes allowable in South African are named with reference to their characteristics. 

    ASSESSMENT CRITERION 3 
    Conditions under which foreign collective investment schemes may be marketed and sold in South Africa are explained with reference to CISCA. 

    ASSESSMENT CRITERION 4 
    Procedures for launching a portfolio are explained with reference to CISCA and the consequences of non-compliance. 

    ASSESSMENT CRITERION 5 
    Procedures for launching a collective investment scheme are explained with reference to CISCA and the consequences of non-compliance. 

    SPECIFIC OUTCOME 2 
    Describe the main role players involved in a collective investment scheme. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The main role players involved in collective investment schemes are named and an indication given of the role of each with reference to CISCA and the deed and documents of incorporation for a specific scheme. 

    ASSESSMENT CRITERION 2 
    The relationship between the Collective Investment Scheme Manager and other role players in a collective investment scheme is explained and an indication is given of the obligations of each and the consequences of non-compliance. 

    SPECIFIC OUTCOME 3 
    Explain ethical principles and practices described in the Collective Investment Schemes Control Act (CISCA) and subordinate legislation. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The guidelines for ethical practice outlined in CISCA are explained with examples. 

    ASSESSMENT CRITERION 2 
    Mandatory disclosures relating to information supplied to investors is identified and an indication is given of why the disclosures are necessary. 

    ASSESSMENT CRITERION 3 
    Marketing documents from a selected Collective Investment Scheme Manager are analysed for compliance. 

    SPECIFIC OUTCOME 4 
    Describe the elements of the deed and documents of incorporation for collective investment schemes. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The purposes of the deed and documents of incorporation are compared with reference to participatory interest, corporate structure and governance. 

    ASSESSMENT CRITERION 2 
    The minimum information required in the deed and documents of incorporation is explained and an indication is given of the procedures to be followed in the event of changes to the deed and/or documents of incorporation. 


    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 analysing a deed and documents of incorporation and marketing material for compliance. 

    UNIT STANDARD CCFO COMMUNICATING 
    The learner is capable of communicating effectively in explaining the requirements of CISCA, indicating the rules for mandatory disclosure and illustrating the process of launching, winding up, amalgamating and converting a collective investment scheme and a collective investment scheme portfolio. 

    UNIT STANDARD CCFO CONTRIBUTING 
    The learner is capable of participating as a responsible citizen in demonstrating the ethical principles and practices required in a collective investment scheme. 

    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 12180, "Demonstrate knowledge and insight into the Collective Investment Schemes Act, 45 of 2003 (CICSA)", 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.