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: 

Provide the personal banking customer with a standard, asset-based financial solution 
SAQA US ID UNIT STANDARD TITLE
7242  Provide the personal banking customer with a standard, asset-based financial solution 
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 
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 persons who will be able to interview customers to ascertain their needs and then be able to provide suitable, asset-based financial solutions to meet the need, complete all necessary documentation, inform the customer about the terms associated with the operation of the account, and then convey the results of the application. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
It is recommended that this unit standard be obtained in conjunction with the unit standards to establish the financial situation of the customer (SFS 001) and to conduct an analysis of the customer's financial position (SFS 002). 

UNIT STANDARD RANGE 
Vehicle, equipment and leisure finance, e.g. caravans and boats. 

Specific Outcomes and Assessment Criteria: 

SPECIFIC OUTCOME 1 
Establish the nature of the customer's needs. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. The requirements of the customer and the reason for his/her request for assistance are established in a discussion with the customer. 

ASSESSMENT CRITERION 2 
2. The nature and value of the asset to be financed are established to ensure its compatibility with the bank's policy. 

ASSESSMENT CRITERION 3 
3. The type of finance required by the customer is assessed against his/her financial situation according to the bank's policy. 

ASSESSMENT CRITERION 4 
4. The customer's relationship with the bank is established to determine the interest rate the bank will charge according to the bank's policy. 

SPECIFIC OUTCOME 2 
Recommend an asset-based solution that would suit the customer's needs. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. The features and benefits of the proposed financial package are presented to the customer so that the customer can make an informed decision in line with the Code of Banking Practice. 

ASSESSMENT CRITERION 2 
2. The customer's concerns are addressed politely and to the customer's satisfaction. 

ASSESSMENT CRITERION 3 
3. The legality and desirability of financing the proposed asset are evaluated in compliance with the bank's policy. 

ASSESSMENT CRITERION 4 
4. Using a financial calculator, the repayments are calculated according to the bank's guidelines. 
ASSESSMENT CRITERION RANGE 
Including but not limited to the amount of finance required, deposit %, interest rate payable, monthly repayments in relation to customer's income, period of loan.
 

SPECIFIC OUTCOME 3 
Complete the financial application form. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. The required personal information is obtained from the customer and recorded correctly according to the bank's guidelines. 

ASSESSMENT CRITERION 2 
2. The necessary supporting documentation as well as the customer's signature are obtained to ensure the validity of the documentation. 

ASSESSMENT CRITERION 3 
3. The customer's contractual capacity is established as required by the bank's policy. 

ASSESSMENT CRITERION 4 
4. The customer's creditworthiness rating is obtained and the creditworthiness assessed according to the bank's policy. 

ASSESSMENT CRITERION 5 
5. The application is submitted to the relevant department for approval/decline, unless system-approved or declined, according to the bank's procedures. 

SPECIFIC OUTCOME 4 
Inform the customer about the specific terms and conditions relevant to operating the account. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. All necessary information regarding the operation of the account is given to the customer in line with the Code of Banking Practice. 
ASSESSMENT CRITERION RANGE 
Including but not limited to deadlines, monthly repayment date, termination date of agreement, etc.
 

ASSESSMENT CRITERION 2 
2. The customer's comprehension regarding the finance application process is ensured through discussion with him/her. 

SPECIFIC OUTCOME 5 
Convey the result of the application. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. The customer is advised of the approval/decline of the application in the manner required by the bank. 

ASSESSMENT CRITERION 2 
2. The customer is dealt with in a polite manner according to the bank's policy. 

ASSESSMENT CRITERION 3 
3. The reason for the declined application is provided in line with the Code of Banking Practice. 


UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
1. Anyone assessing a learner against this unit standard must be registered as an assessor with the relevant ETQA.

2. 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.

3. 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 
  • An understanding of all relevant banking policies and procedures
  • The ability to apply financial analysis skill to evaluate an individual's financial standing
  • The ability to express analysis and judgement clearly in writing
  • Operating and computer systems knowledge sufficient to obtain information and complete the task
  • An understanding of basic elements of credit risk and basic principles of sound lending
  • Specific and detailed knowledge of relevant banking products
  • Good customer relation skills
  • The ability to calculate various interest rates and repayment rates
  • The ability to understand and explain tax implications
  • A working knowledge of critical aspects of the Usury Act and the Credit Agreement Act 


  • Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Identify and solve problems in which responses display that responsible decisions using critical and creative thinking have been made when the type of finance required by the customer is assessed against his/her financial situation according to the bank's policy. 

    UNIT STANDARD CCFO WORKING 
    Work effectively with others as a member of a team, group, organisation and community when the application is submitted to the relevant department for approval/decline, unless system-approved or declined, according to the bank's procedures. 

    UNIT STANDARD CCFO COLLECTING 
    Collect, organise and critically evaluate information. The nature and value of the asset to be financed are established to ensure its compatibility with the bank's policy. 

    UNIT STANDARD CCFO COMMUNICATING 
    Communicate effectively using visual, mathematical and language skills in the modes of oral and written presentations. The requirements of the customer and the reason for his/her request for assistance are established in a discussion with the customer. 

    UNIT STANDARD CCFO SCIENCE 
    Use science and technology effectively and critically (showing responsibility towards the environment and health of others) when using a financial calculator, the repayments are calculated according to the bank's guidelines. 

    UNIT STANDARD CCFO CONTRIBUTING 
    Contribute to the full personal development of each learner and the social and economic development of society at large, by making it the underlying intention of any programme of learning to make an individual aware of the importance of:
  • reflecting on exploring a variety of strategies to learn more effectively;
  • participating as responsible citizens in the life of local, national and global communities;
  • being culturally and aesthetically sensitive across a range of social contexts;
  • exploring education and career opportunities; and
  • developing entrepreneurial opportunities when the customer is dealt with in a polite manner according to the bank's policy. 

  • 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:

    All procedures must meet recognised codes of practice as well as obligations required under current legislation within South Africa and within the normal parameters of the defined job/task. 

    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.