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:

Explain and practically apply the fundamentals of vehicle finance and insurance

SAQA US ID	UNIT STANDARD TITLE
9870	Explain and practically apply the fundamentals of vehicle finance and insurance
ORIGINATOR
SGB Retail and Wholesale
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-
FIELD			SUBFIELD
Field 11 - Services			Wholesale and Retail
ABET BAND	UNIT STANDARD TYPE	PRE-2009 NQF LEVEL	NQF LEVEL	CREDITS
Undefined	Regular	Level 5	Level TBA: Pre-2009 was L5	15
REGISTRATION STATUS		REGISTRATION START DATE	REGISTRATION END DATE	SAQA DECISION NUMBER
Passed the End Date - Status was "Reregistered"		2006-11-07	2008-11-26	SAQA 0160/05
LAST DATE FOR ENROLMENT		LAST DATE FOR ACHIEVEMENT
2009-11-26		2012-11-26

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
259882	Apply the fundamentals of vehicle finance	Level 5	Level TBA: Pre-2009 was L5	12

PURPOSE OF THE UNIT STANDARD

The learner is capable of explaining, advising and demonstrating the available finance and insurance options and their importance; applying for finance through the correct institutions; settling outstanding amounts owed on vehicles on behalf of the customer and understand and apply the relevant Finance and Insurance legislation, all in aid of selling additional services and products as "second gross" to a motor dealership.

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING

Knowledge: Computer Literacy, Ability to operate a Financial Calculator (HP 10 B), How to complete an Offer to Purchase (OTP), Vehicle Product Knowledge

Skills: Basic Financial Skills, Business Skills, Selling Skills

UNIT STANDARD RANGE

Context
Finance and Insurance Options: Lease, Higher Purchases, Rentals, Insurance, Warranties, extended warranties.
"Second Gross" - gross profit made on the sales of Vehicle: Finance, Insurances, Warranties, Accessories
Financial Calculator: HP10b (or similar)
Relevant Legislation: Credit Agreement Act; Usury Act; Statutory Notice regarding long-term and short-term insurance;

Level
A learning programme leading to the award of this unit standard should develop learners who demonstrate:
(a) A foundational knowledge base as indicated in the embedded knowledge component
(b) An understanding of the discipline/field`s fundamental terms, rules, concepts and principles
(c) Familiarity with some of the essential procedures, operations and techniques of this field
(d) An ability to use a range of procedures to solve routine problems
(e) Basic information gathering, analysis and presentation skills
(f) An ability to communicate and present information clearly and reliability following prescribed formats and conventions

Specific Outcomes and Assessment Criteria:

SPECIFIC OUTCOME 1

Establish rapport with customers, during the hand over from a sales executive.

ASSESSMENT CRITERIA

ASSESSMENT CRITERION 1

1. The learner's manner in which he greets customers during a handover process is professional and conforms to organisational requirements.

SPECIFIC OUTCOME 2

List, explain and advise customers on the available Finance and Insurance options.

OUTCOME NOTES

List, explain and advise customers on the available Finance and Insurance options as well as the importance of, in aim of selling additional "non-tangible" products.

ASSESSMENT CRITERIA

ASSESSMENT CRITERION 1

1. A full explanation of finance and insurance options are listed and explained.

ASSESSMENT CRITERION 2

2. The ability to enhance the customers understanding of the available Finance and Insurance options and there importance, is demonstrated using examples.

ASSESSMENT CRITERION 3

3. The ability to build Finance and Insurance options as a value added product into a deal is performed.

SPECIFIC OUTCOME 3

Explain and demonstrate what makes up "second gross".

OUTCOME NOTES

Explain and demonstrate what makes up "second gross" and how it adds to the profitability of dealership sales.

ASSESSMENT CRITERIA

ASSESSMENT CRITERION 1

1. The learner, using examples, competently explains what "second gross" is and what it comprises of.

ASSESSMENT CRITERION 2

2. How Finance and Insurance sales add to the profit of a deal is demonstrated using examples and a Financial Calculator.

SPECIFIC OUTCOME 4

Correctly complete an application for Finance.

OUTCOME NOTES

Correctly complete an application for Finance and successfully submit it to a Financial Institution for approval.

ASSESSMENT CRITERIA

ASSESSMENT CRITERION 1

1. The correct completion of a Vehicle Finance Application Form is performed according to Bank and Organisational requirements.

ASSESSMENT CRITERION 2

2. The ability to successfully submit the complete application form to a Financial Institution is demonstrated.

SPECIFIC OUTCOME 5

Settle an outstanding amount of money owed to a bank, on behalf of a customer (settlement).

ASSESSMENT CRITERIA

ASSESSMENT CRITERION 1

1. The ability to calculate an outstanding amount(s) owed on customers current vehicle(s) is correctly shown using examples.

ASSESSMENT CRITERION 2

2. Fully explain (using examples) how to settle an outstanding amount(s) owed to a bank on behalf of a customer.

SPECIFIC OUTCOME 6

Know, apply and interpret relevant legislation.

ASSESSMENT CRITERIA

ASSESSMENT CRITERION 1

1. The relevant legislation to vehicle financing is identified and sourced.

ASSESSMENT CRITERION 2

2. The identified legislation is interpreted in such a way that the learner understands where and how it fits into a deal.

ASSESSMENT CRITERION 3

3. The learner shows applied knowledge for the relevant legislation by explaining practical examples around a deal.

UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS

The standard describes competent performance in explaining, advising and demonstrating the available finance and insurance options and their importance, and lay down the criteria by which competence should be judged, as well as the range of circumstances in which competence should be demonstrated.

Integrated assessment methods and tools will allow the candidate to demonstrate that she/he has acquired knowledge of and can safely and effectively apply competence identified in this unit standard.

These tools include the following:

In-situ (on-the-job) observations

Role-play simulations

Structured group discussions

Written reports (e.g. tests, exams, case studies, projects, registers, logbooks, workbooks)

Verbal report backs (presentations)

Portfolios of evidence

Projects (physical visits to Government Departments)

Experiential learning

Working in teams

Scenario sketching

These methods must be carefully selected based on the purpose of the assessment (for example, the written method of assessing knowledge or on-job demonstration of practical competence). The assessment must integrate a number of different methods in order to give the assessor reliable and valid proof of competence and evidence of required attitudes.

Candidates are assessed against these assessment criteria. Currently employed candidates are observed carrying out their normal work duties by an assessor. They may also be asked to carry out simulated tasks and to answer written and/or oral questions. Candidates studying towards a Unit Standard, and who are not currently employed, will also be assessed using variety of assessment tools.

Training providers offering the qualifications, or part thereof, shall be accredited in terms of the criteria laid down by the relevant SETA/ETQA.

Qualified Assessors will be appointed by the training institutions offering the qualifications and must be registered and accredited with the relevant SETA/ETQA.

Requirements of a portfolio

Valid, reliable and authentic evidence (presented as a portfolio of evidence) from past achievements and experience which serves to supplement the assessment of applied competence.

The portfolio may include inter alia:

Written statements from persons (e.g. current and/or previous employer, colleague, peer, manager, external customers) confirming competence of the learner

Relevant certificates or awards

Previous assessment records

Journals/logbook

UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE

Organisational Requirements in respect to professional meet and greet
Vehicle Finance and Insurance Knowledge
Financial calculations
Second gross profits
Financial calculations
Bank and Organisational requirements around vehicle finance applications
Financial calculations
Working knowledge and understanding of relevant Finance and Insurance legislation

Critical Cross-field Outcomes (CCFO):

UNIT STANDARD CCFO IDENTIFYING

Identify and solve problems in a critical and creative way in explaining, advising and demonstrating the available finance and insurance options and their importance.

UNIT STANDARD CCFO WORKING

Work effectively with others as a member of a team in explaining, advising and demonstrating the available finance and insurance options and their importance.

UNIT STANDARD CCFO ORGANISING

Organise and manage oneself and one`s personal activities responsibly and effectively.

UNIT STANDARD CCFO COLLECTING

Collect, analyse, organise and critically evaluate information relevant in explaining, advising and demonstrating the available finance and insurance options and their importance.

UNIT STANDARD CCFO DEMONSTRATING

Understand and apply a range of office management-related techniques, procedures and experimental approaches required in the different specific programmes leading up to this qualification.

Understand the world as a set of related systems by recognising that the explaining, advising and demonstrating the available finance and insurance options and their importance does not exist in isolation.

UNIT STANDARD NOTES

This unit standard has been replaced by unit standard 259882, which is "Apply the fundamentals of vehicle finance", Level 5, 12 credits.

QUALIFICATIONS UTILISING THIS UNIT STANDARD:

	ID	QUALIFICATION TITLE	PRE-2009 NQF LEVEL	NQF LEVEL	STATUS	END DATE	PRIMARY OR DELEGATED QA FUNCTIONARY
Elective	21003	National Certificate: Motor Sales and Support Services	Level 4	NQF Level 04	Passed the End Date - Status was "Reregistered"	2008-11-26	Was MERSETA until Last Date for Achievement

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