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 a standard investment solution for a personal banking customer 
SAQA US ID UNIT STANDARD TITLE
7244  Provide a standard investment solution for a personal banking customer 
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  10 
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 intended for persons who have primary contact with customers. Persons credited with this unit standard will be able to establish the nature of the customer's needs, link them to the appropriate product and then open the investment account. 

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

Specific Outcomes and Assessment Criteria: 

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

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. The purpose and extent of the proposed investments are established for the purpose of recommending an appropriate solution. 
ASSESSMENT CRITERION RANGE 
Including but not limited to need for capital growth, interest accumulation and interest reinvestment.
 

ASSESSMENT CRITERION 2 
2. The need for access to the investment and/or interest is ascertained to identify the period and nature of the investment. 
ASSESSMENT CRITERION RANGE 
Short, medium or long term.
 

ASSESSMENT CRITERION 3 
3. The specific requirements are identified as confirmation of the customer's request. 
ASSESSMENT CRITERION RANGE 
Including but not limited to adding to balances, minimum and maximum balances.
 

SPECIFIC OUTCOME 2 
Link the customer's needs to the appropriate product. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. The customer's requirements are matched with a range of appropriate investment products in line with the bank's policy. 

ASSESSMENT CRITERION 2 
2. The customer is informed about the range of additional products which may be useful in line with the bank's policy. 

ASSESSMENT CRITERION 3 
3. The specific features of the products are explained in line with the Code of Banking Practice so that the customer can make an informed decision. 
ASSESSMENT CRITERION RANGE 
Terms, notice period, interest growth, capital growth, minimum and maximum balances, opening balances, withdrawal options, additional deposits.
 

ASSESSMENT CRITERION 4 
4. The ways in which the use of the investment can benefit the customer are outlined according to the bank's policy so that the customer can make an informed decision. 

ASSESSMENT CRITERION 5 
5. The penalties involved with early withdrawals are discussed with the customer in line with bank policies and the Code of Banking Practice. 
ASSESSMENT CRITERION RANGE 
Costs, penalty fees, withdrawal before the time.
 

ASSESSMENT CRITERION 6 
6. The customer's concerns are addressed politely and to the customer's satisfaction. 

ASSESSMENT CRITERION 7 
7. The customer's choice is reviewed and linked with the expressed need as required by the bank's policy. 

SPECIFIC OUTCOME 3 
Open the investment account. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. The terms and conditions for operating the account are explained in terms the customer should understand, in line with the Code of Banking Practice. 
ASSESSMENT CRITERION RANGE 
Terms, notice periods, interest growth, capital growth, minimum and maximum balances, opening balance, adding to the balance, withdrawal options.
 

ASSESSMENT CRITERION 2 
2. The required documentation is collected and completed according to the bank's procedures. 

ASSESSMENT CRITERION 3 
3. The required documentation is verified and signed as required by the bank. 

ASSESSMENT CRITERION 4 
4. The customer contact is recorded according to the bank's policy. 

ASSESSMENT CRITERION 5 
5. The deposit into the investment account is arranged according to banking procedures. 

ASSESSMENT CRITERION 6 
6. Customer access to the account is arranged in line with banking policy and customer requirements. 

ASSESSMENT CRITERION 7 
7. The documentation is forwarded to the relevant department as per stipulated procedure. 


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 procedure
  • The ability to express analysis and judgement clearly in writing
  • Operating and computer systems knowledge sufficient to obtain information and complete the task
  • Specific and detailed knowledge of relevant investment products
  • A broad knowledge of the wide range of banking products
  • Good customer relation skills
  • The ability to calculate interest rates
  • The ability to understand and explain the implications of short, medium and long term investments
  • Broad knowledge of investments, including safeguarding capital, interest growth options, adding to the amount invested 


  • Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO WORKING 
    Work effectively with others as a member of a team, group, organisation and community. The documentation is forwarded to the relevant department as per stipulated procedure. 

    UNIT STANDARD CCFO ORGANISING 
    Organise and manage oneself and one's activities responsibly and effectively. The customer's requirements are matched with a range of appropriate investment products in line with the bank's policy. 

    UNIT STANDARD CCFO COLLECTING 
    Collect, organise and critically evaluate information. The ways in which the use of the investment can benefit the customer are outlined according to the bank's policy so that the customer can make an informed decision. 

    UNIT STANDARD CCFO COMMUNICATING 
    Communicate effectively using visual, mathematical and language skills in the modes of oral and written presentations. The specific features of the products are explained in line with the Code of Banking Practice so that the customer can make an informed decision. 

    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. 

  • 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. Milpark Education (Pty) Ltd (previously known as Milpark Business School) 
    8. Nedbank Ltd 
    9. 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.