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 THAT HAS PASSED THE END DATE: 

Sell Foreign Instruments to a customer in a banking environment 
SAQA US ID UNIT STANDARD TITLE
7311  Sell Foreign Instruments to a customer in a banking environment 
ORIGINATOR
SGB Financial Services 
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 5  Level TBA: Pre-2009 was L5  17 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Passed the End Date -
Status was "Reregistered" 		 2003-12-03  2004-08-11  SAQA 1351/03 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2005-08-11   2008-08-11  

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 is replaced by: 
US ID Unit Standard Title Pre-2009 NQF Level NQF Level Credits Replacement Status
117814  Sell Foreign Instruments to a customer in a banking environment  Level 4  NQF Level 04  10   

PURPOSE OF THE UNIT STANDARD 
This unit standard is intended for a person who sells foreign instruments to a customer. A person credited with this unit standard will be able to sell Travellers Cheques, Foreign Notes, Bank Drafts and process outward Transfers. 

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

UNIT STANDARD RANGE 
Travellers Cheques, Foreign Notes, Bank Drafts and Process Outward Transfers. 

UNIT STANDARD OUTCOME HEADER 
Sell a Draft 

Specific Outcomes and Assessment Criteria: 

SPECIFIC OUTCOME 1 
Sell a Draft. 
OUTCOME RANGE 
Travellers Cheques, Foreign Notes, Bank Drafts and Process Outward Transfers. 

ASSESSMENT CRITERIA 

ASSESSMENT CRITERION 1 
1. The Customer's application for a draft is accepted in accordance with company specific risk evaluation & SARB Exchange Control Rulings & Regulations. 
ASSESSMENT CRITERION RANGE 
Identification, Signature Verification, Documents, Advance Aspects.
 

ASSESSMENT CRITERION 2 
2. A Form A is completed correctly and reported in accordance with the SARB Exchange Control Rulings & Regulations. 

ASSESSMENT CRITERION 3 
3. The appropriate exchange rate and formula is used to convert the currency correctly. 
ASSESSMENT CRITERION RANGE 
FEC, Selling, Spot
 

ASSESSMENT CRITERION 4 
4. The draft is completed accurately and in terms of the correct reimbursement arrangements. 

ASSESSMENT CRITERION 5 
5. The transaction is processed correctly as per the customers request and according to company specific procedures, including but not limited to the range. 
ASSESSMENT CRITERION RANGE 
Commission, Customer accounts, Confirmation of over currency limit, Vostro/Nostro
 

ASSESSMENT CRITERION 6 
6. The transaction is finalised as per company specific procedures & Exchange Control Rulings & Regulations. 

SPECIFIC OUTCOME 2 
Sell Foreign Notes, Travellers Cheques & Drafts for travel purposes. 

ASSESSMENT CRITERIA 

ASSESSMENT CRITERION 1 
1. The customer's application for foreign notes & travellers cheques is accepted in accordance with the company specific risk evaluation, including but not limited to the range. 

ASSESSMENT CRITERION 2 
2. The transaction complies with SARB rulings & regulations and the customer is advised of his/her obligations. 

ASSESSMENT CRITERION 3 
3. A Form A is completed correctly and reported in accordance with the SARB Rulings. 

ASSESSMENT CRITERION 4 
4. The appropriate exchange rate and formula is used to convert the currency correctly if applicable. 
ASSESSMENT CRITERION RANGE 
Selling, Spot.
 

ASSESSMENT CRITERION 5 
5. The transactions are processed correctly and in accordance with company specific procedures. 
ASSESSMENT CRITERION RANGE 
Customer Accounts, Commissions, Nostro's, Vostro's.
 

ASSESSMENT CRITERION 6 
6. The transaction is finalised in accordance with SARB requirements. 
ASSESSMENT CRITERION RANGE 
Passport and ticket endorsed, copies of passport and copy of ticket filed.
 

ASSESSMENT CRITERION 7 
7. All Travellers Cheques are signed in accordance with company specific requirementss & SARB rules and regulations. 

ASSESSMENT CRITERION 8 
8. The customer is provided with the completed travellers cheque purchase agreement form and advised to take the necessary precautions. 

SPECIFIC OUTCOME 3 
Process Outward Transfers. 

ASSESSMENT CRITERIA 

ASSESSMENT CRITERION 1 
1. The customer's application for the transfer is accepted in accordance with company specific risk evaluation and SARB Exchange Control Rulings & Regulation, including but not limited to the range. 

ASSESSMENT CRITERION 2 
2. A Form A is completed correctly and reported in accordance with the SARB Rulings & Regulations. 

ASSESSMENT CRITERION 3 
3. The appropriate exchange rate and formula is used to convert the currency correctly. 
ASSESSMENT CRITERION RANGE 
FEC, Selling, Spot
 

ASSESSMENT CRITERION 4 
4. The Transfer data is input correctly, including but not limited to the range. 
ASSESSMENT CRITERION RANGE 
Message type, Currency, Nostro/Vostro, Value date, Reimbursing Instructions, Beneficiary details, details of payment.
 

ASSESSMENT CRITERION 5 
5. The transactions are processed correctly. 
ASSESSMENT CRITERION RANGE 
Nostro/Vostro, Customer accounts, commission.
 


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 
  • understand reimbursement arrangements
  • know the different types of drafts
  • knowledge of the different rates of exchange
  • knowledge of the different currencies for different countries
  • understand value dating
  • ability to look up knowledge required for specific transactions in the Exchange Control Rulings 
    		•


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO WORKING 
    To work effectively with others as a member of an organisation when completing a Form A according to the rules and regulations laid down by the SARB. 

    UNIT STANDARD CCFO COLLECTING 
    To critically evaluate information when the covering schedule is checked to ensure that complete information is provided, the reason for the transaction is checked for compliance with the exchange control rulings and regulations, the Bill of Exchange is checked for technical correctness in terms of the Bills of Exchange Act and the Bill is checked on acceptance for the customer in terms of the Bills of Exchange Act for material alterations, date , signature, etc. 

    UNIT STANDARD CCFO COMMUNICATING 
    To communicate effectively using visual and language skills in oral and written presentations when messages are sent correctly at the appropriate stages in the life cycle of the collection, an advice is prepared for the customer in accordance with company specific requirements, the Bill is prepared and presented for payment or acceptance in terms of the remitting bank's instructions and payment messages are sent correctly to the remitting bank or the destination bank. 

    UNIT STANDARD CCFO SCIENCE 
    To use technology effectively when using the computer to send messages correctly at the appropriate stages in the life cycle of the collection. 

    UNIT STANDARD NOTES 
    This unit standard has been replaced by unit standard 117814, which is "Sell Foreign Instruments to a customer in a banking environment", Level 4, 10 credits.

    Legal Requirements:

    South African Reserve Bank Exchange Control Rulings


    Terminology:

    SARB - South African Reserve Bank
    FEC - Forward Exchange Contracts 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  61589   National Certificate: Banking  Level 5  Level TBA: Pre-2009 was L5  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  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 BANK LTD 
    2. Felix Risk Training Consultants 
    3. Riverwalk Trading 151 CC trading as Culhane Consulting 
    4. Standard Bank Personal and Business Banking 
    5. The Institute of Literacy Advancement 
    6. THE SHERQ CENTRE OF EXCELLENCE PTY 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.