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: 

Arrange and cancel insurance for bank-financed vehicles 
SAQA US ID UNIT STANDARD TITLE
7336  Arrange and cancel insurance for bank-financed vehicles 
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 5  Level TBA: Pre-2009 was L5 
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 a person who arranges and cancels insurance. A person credited with this unit standard will be able to arrange comprehensive cover, top up cover, life/disability/unemployment cover and cancel insurance. 

UNIT STANDARD OUTCOME HEADER 
Arrange comprehensive cover 

Specific Outcomes and Assessment Criteria: 

SPECIFIC OUTCOME 1 
Arrange comprehensive cover. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. All vehicle related details are obtained for the insurance company as per their agreement. 

ASSESSMENT CRITERION 2 
2. The premium quote is obtained and communicated to the customer in accordance with company specific requirements. 

ASSESSMENT CRITERION 3 
3. Cover is arranged and the necessary entries generated in accordance with company specific requirements on receipt of the customers instruction. 

SPECIFIC OUTCOME 2 
Arrange top up cover. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. Details of the value of the vehicle and use is obtained from the customer in accordance with the insurance company's requirements. 
ASSESSMENT CRITERION RANGE 
Use relates to business or personal, taxi.
 

ASSESSMENT CRITERION 2 
2. The benefits of the cover are explained to the customer in accordance with the product requirements. 

ASSESSMENT CRITERION 3 
3. A quote is obtained and communicated to the customer in accordance with company specific requirements. 

ASSESSMENT CRITERION 4 
4. On receipt of the customers written or verbal instruction, the cover is arranged and the necessary entries are generated in accordance with company specific requirements. 

SPECIFIC OUTCOME 3 
Arrange life/disability/unemployment cover/dread disease/personal catastrophe. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. The benefits and terms and conditions of the policy are explained in terms of the product requirement. 

ASSESSMENT CRITERION 2 
2. The written or verbal instruction is loaded in accordance with company specific requirements. 

ASSESSMENT CRITERION 3 
3. The customer is advised of the calculated premium amount and the necessary entries are prepared or generated as per company specific requirements. 

ASSESSMENT CRITERION 4 
4. The cover is arranged in terms of the insurance company and finance company's laid down qualifying criteria. 

SPECIFIC OUTCOME 4 
Cancel Insurance. 
OUTCOME RANGE 
Comprehensive, top up, life/disability/unemployment/dread disease/ personal catastrophe and warranty. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. Written instruction to cancel top up, life/disability/unemployment/dread disease/personal catastrophe and warranty cover is obtained in accordance with company specific requirements. 

ASSESSMENT CRITERION 2 
2. Confirmation of the alternative cover is obtained in terms of the Credit Agreements Act before cancelling comprehensive insurance cover. 

ASSESSMENT CRITERION 3 
3. The necessary entries are prepared or generated in accordance with company specific requirements. 


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 
Product knowledge of insurance products 


Critical Cross-field Outcomes (CCFO): 

UNIT STANDARD CCFO COMMUNICATING 
To communicate effectively when explaining the benefits of the cover to the customer; presenting the quote to the customer; explaining the terms and benefits of the policy to the customer. 

UNIT STANDARD CCFO SCIENCE 
To use technology effectively when using the computer to generate the relevant entries for capturing data. 

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

UNIT STANDARD NOTES 
Terminology:

Top up Cover
Motor vehicle warranty cover 

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  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 Bank Ltd 
2. Nedbank Ltd 
3. The Facilitation Workshop 
4. The Institute of Literacy Advancement 



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.