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: 

Administer amendments to finance accounts in a banking environment 
SAQA US ID UNIT STANDARD TITLE
7201  Administer amendments to finance accounts in a banking environment 
ORIGINATOR
SGB Banking and Micro Finance 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
BANKSETA - Banking Sector Education and Training Authority 
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  43 
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 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 for people who are responsible for maintaining moveable asset based accounts. People credited with this unit standard are able to handle changes to the status of the account and the structure of the finance contract and to update account records accordingly. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
Open. 

UNIT STANDARD RANGE 
All moveable asset based accounts. 

Specific Outcomes and Assessment Criteria: 

SPECIFIC OUTCOME 1 
Handle changes to the status of the account 
OUTCOME RANGE 
Changes regarding; Interest rate status e.g. fixed to linked or vice versa, rate increase/decrease, Instalment date and cycle, Capitalisation of payments in arrears/advance. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. Instruction to effect a change is received and recorded according to company specifications. 

ASSESSMENT CRITERION 2 
2. The authenticity of the instruction is verified according to company specific criteria. 
ASSESSMENT CRITERION RANGE 
Criteria include, but are not limited to approved consent, signatures according to mandates and supporting documentation.
 

ASSESSMENT CRITERION 3 
3. The feasibility of the instruction is determined according to company and legal requirements. 
ASSESSMENT CRITERION RANGE 
System requirements and regulations in terms of the Credit Agreements Act.
 

SPECIFIC OUTCOME 2 
Handle changes to the structure of the finance contract 
OUTCOME RANGE 
Changes regarding the term of the contract. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. Instruction to reconstruct the account is received and recorded according to company specifications. 

ASSESSMENT CRITERION 2 
2. New parameters of contract are calculated and defined according to company and legal requirements. 
ASSESSMENT CRITERION RANGE 
Parameters according to the Credit Agreements Act regulations.
 

ASSESSMENT CRITERION 3 
3. Contract replacements are obtained according to company specifications. 
ASSESSMENT CRITERION RANGE 
Replacements include, but are not limited to new contract signed by customer or addendum to existing contracts.
 

ASSESSMENT CRITERION 4 
4. Validity of documentation is verified and approved according to company specifications. 

SPECIFIC OUTCOME 3 
Effect changes on finance accounts 
OUTCOME RANGE 
Changes regarding the status of the account and the structure of the finance contract. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. Actions required to effect the change are determined as per instruction. 

ASSESSMENT CRITERION 2 
2. The change is effected and recorded as per company specifications. 

ASSESSMENT CRITERION 3 
3. The correctness of amendments is checked and approved according to company specifications. 

ASSESSMENT CRITERION 4 
4. Rejections of updates on accounts are investigated and resolved according to company specifications. 

ASSESSMENT CRITERION 5 
5. Interested parties are notified of amendment/s according to company specifications. 
ASSESSMENT CRITERION RANGE 
Interested parties, include but are not limited to customers, branches and/or internal departments.
 

ASSESSMENT CRITERION 6 
6. Documentation is finalised and prepared for safekeeping according to company specifications. 


UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
Accreditation process (including moderation):
  • Anyone assessing a learner against this unit standard must be registered as an assessor with the relevant ETQA.
  • Any institution offering learning that will enable achievement of this unit standard or assessing this unit standard must be accredited as a provider with the relevant ETQA.
  • Moderation of assessment will be overseen by the relevant ETQA according to the moderation guidelines in the relevant qualification and the agreed ETQA procedures.

    Therefore anyone wishing to be assessed against this unit standard may apply to be assessed by any assessment agency, assessor or provider institution which is accredited by the relevant ETQA. 

  • UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
    Learners are able to:
  • Perform calculations using a financial calculator
  • Interpret instructions and to make decisions regarding the authenticity thereof
  • Organise their activities to ensure the effective and efficient completion of the task at hand
  • Identify and interpret legal regulations affecting the transaction/request
  • Communicate effectively in the modes of oral (specifically telephonic communication) and written presentation
  • Operate company specific systems to locate necessary information to complete the task at hand
  • Interpret relevant banking policies and procedures regarding amendments to finance accounts 


  • Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    The learner is able to identify and solve problems when handling instructions regarding changes to the status of a finance account and the structure of the finance contract, ensuring decisions regarding acceptance are only taken once the authenticity and legality of the instructions had been established. 

    UNIT STANDARD CCFO ORGANISING 
    The learner is able to organise and manage his/her activities responsibly and effectively, ensuring accurate and timeous amendments to finance accounts and contracts. 

    UNIT STANDARD CCFO COMMUNICATING 
    The learner is able to communicate both verbally and in writing when attending to instructions received and notification of interested parties regarding the amendments to the finance account and/or contract. 

    UNIT STANDARD CCFO SCIENCE 
    The learner is able to use science and technology effectively when administering amendments to finance accounts, ensuring complete and accurate information is available on systems. 

    UNIT STANDARD CCFO DEMONSTRATING 
    The learner is able to demonstrate an understanding of the relationship between internal departments, attorneys, insurance companies and clients and the importance of networking to effectively administer amendments to finance accounts. 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

    UNIT STANDARD NOTES 
    Legal requirements:

    Credit Agreements Act

    Assessment against unit standard:

    Assessment practices against this unit standard should meet the requirements of established assessment principles, such as validity, reliability and fairness. Assessment activities and tools, which are appropriate to the context in which learners are working, should be used. The assessment should ensure that all the specific outcomes, critical cross-field outcomes, and essential embedded knowledge are assessed. Learners are required to demonstrate that they can perform the specific outcomes with understanding and reflexivity and, where applicable, within all the situations and circumstances defined by the range statement(s). 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  20185   Further Education and Training Certificate: Banking  Level 4  NQF Level 04  Reregistered  2023-06-30  BANKSETA 


    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. Absa Learning & Development 
    2. Bidvest Bank 
    3. Chartall Business College 
    4. Cornerstone Performance Solutions (Pty) Ltd 
    5. Felix Risk Training Consultants 
    6. Firstrand Bank - Benmore 
    7. Nedbank Ltd 
    8. The Facilitation Workshop 



    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.