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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD THAT HAS PASSED THE END DATE: 

Keep informed about current affairs related to financial services in general and insurance in particular 
SAQA US ID UNIT STANDARD TITLE
8095  Keep informed about current affairs related to financial services in general and insurance in particular 
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 2  NQF Level 02  10 
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
114969  Keep informed about current affairs related to a business sector or industry  Level 2  NQF Level 02  10   

PURPOSE OF THE UNIT STANDARD 
This unit standard provides a broad introduction to the financial services industry and the insurance sector. It is the starting point for a learner in insurance. The focus is knowledge, skills, values and attitudes in relation to the learner`s own context and experience of the world of work.

The qualifying learner is capable of:
  • Identifying events in the physical, social and business environment that impact on the insurance industry.
  • Identifying people and insurance trends from the news. 
    		•

    LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    There is open access to this unit standard. Learners should either
  • Hold a GETC or equivalent qualification. Or
  • Be competent in communication and mathematical literacy NQF level 1. 
    		•

    UNIT STANDARD RANGE 
    RANGE STATEMENT:

    The typical scope of this unit standard is events in the physical, social and economic environments and other items of news that appear on television, radio newscasts or in a daily or weekly newspaper. 

    UNIT STANDARD OUTCOME HEADER 
    Identify events in the physical environment that c 

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Identify events in the physical environment that could impact on insurance. 
    OUTCOME NOTES 
    1.1 The term physical environment is understood and a list is made of possible events related to the physical environment.

    1.2 Information relating to current events in the physical environment is collected and organised demonstrating basic processing of readily available information.

    1.3 A brief indication is given of how each event could impact on the insurance industry.

    1.4 The ways in which the insurance industry could be affected by such an event are named for the different sub-sector/s of the industry. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    Identify events in the physical environment that could impact on insurance 
    ASSESSMENT CRITERION NOTES 
    1.1 The term physical environment is understood and a list is made of possible events related to the physical environment.

    1.2 Information relating to current events in the physical environment is collected and organised demonstrating basic processing of readily available information.

    1.3 A brief indication is given of how each event could impact on the insurance industry.

    1.4 The ways in which the insurance industry could be affected by such an event are named for the different sub-sector/s of the industry. 

    SPECIFIC OUTCOME 2 
    Identify events in the social environment that could impact on insurance 
    OUTCOME NOTES 
    2.1 The term social environment is understood and a list is made of possible events related to the social environment.

    2.2 Information relating to current events in the social environment is collected and organised demonstrating basic processing of readily available information.

    2.3 A brief indication is given of how one such event could impact on one of the sub sectors of the insurance industry 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    Identify events in the social environment that could impact on insurance. 
    ASSESSMENT CRITERION NOTES 
    2.1 The term social environment is understood and a list is made of possible events related to the social environment.

    2.2 Information relating to current events in the social environment is collected and organised demonstrating basic processing of readily available information.

    2.3 A brief indication is given of how one such event could impact on one of the sub sectors of the insurance industry 

    SPECIFIC OUTCOME 3 
    Identify events in the economic environment that could impact on insurance 
    OUTCOME NOTES 
    3.1 The term economic environment is understood and a list is made of three possible events related to the economic environment.

    3.2 Information relating to current events in the economic environment is collected and organised demonstrating basic processing of readily available information.

    3.3 A brief indication is given of how one such event could impact on one of the sub-sectors of the insurance industry.

    3.4 The groups of people and kinds of work most likely to be affected are identified for each event. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    Identify events in the economic environment that could impact on insurance 
    ASSESSMENT CRITERION NOTES 
    3.1 The term economic environment is understood and a list is made of three possible events related to the economic environment.

    3.2 Information relating to current events in the economic environment is collected and organised demonstrating basic processing of readily available information.

    3.3 A brief indication is given of how one such event could impact on one of the sub-sectors of the insurance industry.

    3.4 The groups of people and kinds of work most likely to be affected are identified for each event. 

    SPECIFIC OUTCOME 4 
    Identify people and companies in the news 
    OUTCOME NOTES 
    4.1 Achievements of people and financial services companies in the news are identified with examples of why they are newsworthy.

    4.2 Problems in the industry and possible causes for the problems are identified with examples.

    4.3 New developments in the industry are discussed with examples.

    4.4 Information is gathered about what ordinary people are saying about the industry 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    Identify people and companies in the news 
    ASSESSMENT CRITERION NOTES 
    4.1 Achievements of people and financial services companies in the news are identified with examples of why they are newsworthy.

    4.2 Problems in the industry and possible causes for the problems are identified with examples.

    4.3 New developments in the industry are discussed with examples.

    4.4 Information is gathered about what ordinary people are saying about the industry 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
    This Unit Standard will be internally assessed by the provider and moderated by a moderator registered by INSQA or a relevant accredited ETQA. The mechanisms and requirements for moderation are contained in the document obtainable from INSQA,
    INSQA framework for assessment and moderation. 

    UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
    The learners can identify

    1. Floods, earthquakes, drought and other natural disasters as events in the physical environment.

    2. Human disasters, accidents, epidemics, pandemics, HIV/AIDS, crime, war and other people related disasters as events of the social environment.

    3. Insolvencies, mergers, acquisitions and retrenchments as events in the economic environment. 

    UNIT STANDARD DEVELOPMENTAL OUTCOME 
    This unit standard supports in particular, the following critical cross field outcomes at unit standard level:

    1. A learner is able to identify and provide possible causes and solutions to problems by identifying events in the environment and the industry that could impact on insurance.

    2. A learner can work effectively with others as a member of a community when gathering information about the industry from the community.

    3. A learner is able to collect and organise information gathered to indicate how events in the physical, economic and social environments could impact on one of the sub-sectors of the insurance industry.

    4. Learners can communicate effectively and responsibly to describe or present information gathered during research activities into the events in the physical, economic and social environments that could impact on insurance.

    5. Learners can demonstrate an understanding of the world as a set of related systems by recognising and identifying the impact that the different environments can have on insurance.

    6. A learner can explore educational and career opportunities in their research of the industry and current events. 


    UNIT STANDARD NOTES 
    This unit standard has been replaced by 114969, which is "Keep informed about current affairs related to a business sector or industry" 10 credits, NQF Level 2, as from 11 August 2004. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Core  14657   National Certificate: Insurance Administration  Level 2  NQF Level 02  Passed the End Date -
    Status was "Registered"     		 2004-04-18  INSETA 


    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.
     
    NONE 


    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.