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

Use an electronic system to propose a financial solution 
SAQA US ID UNIT STANDARD TITLE
243143  Use an electronic system to propose a financial solution 
ORIGINATOR
SGB Insurance and Investment 
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 4  NQF Level 04  3 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Passed the End Date -
Status was "Reregistered" 		 2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2026-06-30   2029-06-30  

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 replaces: 
US ID Unit Standard Title Pre-2009 NQF Level NQF Level Credits Replacement Status
113912  Use an electronic system to propose a financial solution  Level 4  NQF Level 04  3   

PURPOSE OF THE UNIT STANDARD 
This unit standard is intended for learners in a financial services environment including, but not limited to, people who work in Administration, Brokers, Broker Consultants, Agents, Intermediaries, Wealth Managers and Trainee Financial Planners.

The qualifying learner is capable of:
  • Explaining basic financial planning theory as it impacts on an electronic system.
  • Using an electronic system to do a financial needs and gap analysis.
  • Proposing a financial solution.
  • Generating the reports and proposals needed for a client to make an informed decision.
  • Processing new business on an electronic system.
  • Demonstrating the use of an electronic system as a sales tool. 
    		•

    LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
  • It is assumed that learners are competent in Communication and Mathematical Literacy at Level 3 and the unit standard, Use an electronic system as a tool in a financial services context.
  • Learners should have a sound knowledge of insurance and investment products and the relevant legislation. 
    		•

    UNIT STANDARD RANGE 
    The typical scope of this unit standard is:
  • Electronic systems include, but are not limited to, Spotlight, Pathfinder, Plan Tech, Blueprint, Sage Insight, S.net, AIMS Portfolio Planner, QDS, Proclaimer, and Chameleon.
  • Calculations include, but are not limited to, tax, estate duty, Capital Gains Tax (CGT), accrual, basic cash flow and compound interest.
  • Legislation impacting on calculations includes, but is not limited to legislation relating to marriage, CGT, estate duty, tax, retirement funds, Long-Term insurance and collective investment schemes.
  • Analyses may be summary or detailed.
  • The needs of a client include, but are not limited to, lifestyle, financial, health, education, occupation and avocation needs. 
    		•

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Explain basic financial planning theory as it impacts on an electronic system. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    The basic mathematical processes and the calculations required in a financial needs analysis are understood and results are estimated for each type of calculation. 

    ASSESSMENT CRITERION 2 
    The basic calculations required in a financial needs analysis are generated using an electronic system. 

    ASSESSMENT CRITERION 3 
    The impact of legislation on calculations is explained for selected case studies. 

    SPECIFIC OUTCOME 2 
    Use an electronic system to do a financial needs and gap analysis. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    The analysis appropriate to a specific client is selected with reference to the complexity of the client's financial situation, the integrity of the selected analysis and compliance. 

    ASSESSMENT CRITERION 2 
    A client's current situation is analysed and prioritised for life events including death, disability, retirement funding, health care, investment, education planning and business needs. 

    ASSESSMENT CRITERION 3 
    A client's assets, liabilities and shortfall are calculated for each life event and the income is presented as a cash flow. 

    ASSESSMENT CRITERION 4 
    The desired financial position of a client is ascertained and a cash flow is used to determine the shortfall. 

    SPECIFIC OUTCOME 3 
    Propose a financial solution. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    The graphical and numerical results of a financial needs analysis are interpreted and presented to the client. 

    ASSESSMENT CRITERION 2 
    Possible financial solutions are proposed that address the identified needs and priorities. 

    SPECIFIC OUTCOME 4 
    Generate the reports and proposals needed for a client to make an informed decision. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    A summary of the financial needs analysis, reports and the proposed solution are produced using an electronic system. 

    ASSESSMENT CRITERION 2 
    The risks associated with the proposed solution are interpreted and explained with reference to future market trends and the client's needs. 

    ASSESSMENT CRITERION 3 
    Evidence of compliance with financial and money laundering legislation is produced and an indication is given of archiving requirements. 

    SPECIFIC OUTCOME 5 
    Process new business on an electronic system. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    A quote is generated based on the identified needs and personal details of the client. 

    ASSESSMENT CRITERION 2 
    The quote is presented and explained with reference to the features, risks and implications of the selected product. 

    SPECIFIC OUTCOME 6 
    Demonstrate the use of an electronic system as a sales tool. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    Techniques for using the electronic tool in a presentation are demonstrated as part of the sales process. 

    ASSESSMENT CRITERION 2 
    The electronic system is used as a prompt in the sales process. 

    ASSESSMENT CRITERION 3 
    The consequences of inappropriate use of the electronic system in the sales process are explained with examples. 

    ASSESSMENT CRITERION 4 
    The importance of using an electronic system effectively in the sales process is explained with examples. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
  • Anyone assessing a candidate against this Unit Standard must be registered as an assessor with the relevant ETQA or ETQA where a Memorandum of Understanding (MOU) exists with the relevant ETQA.
  • Any institution offering learning that will enable achievement of this Unit Standard must be accredited as a provider through the relevant ETQA or ETQA where a Memorandum of Understanding (MOU) exists with the relevant ETQA.
  • Moderation of assessment will be overseen by the relevant ETQA according to the moderation guidelines and the agreed ETQA procedures. 
    		•

    UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
    N/A 

    UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Learners are capable of identifying and solving problems in selecting an appropriate analysis and proposing a financial solution. 

    UNIT STANDARD CCFO COMMUNICATING 
    Learners are capable of communicating effectively in presenting cash flows and the results of a financial needs and gap analysis to a client. 

    UNIT STANDARD CCFO SCIENCE 
    Learners are capable of using technology effectively and critically showing responsibility towards the environment in using an electronic system as a sales tool and to process new business. 

    UNIT STANDARD CCFO DEMONSTRATING 
    Learners are capable of demonstrating an understanding of the world as a set of related systems by producing evidence of compliance with the appropriate legislation. 

    UNIT STANDARD CCFO CONTRIBUTING 
    Learners are capable of participating as responsible citizens in the life of the local community by offering financial advice appropriate to an individual client. 

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

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

    UNIT STANDARD NOTES 
    This unit standard replaces unit standard 113912, "Use an electronic system to propose a financial solution", Level 4, 3 credits. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  66613   Further Education and Training Certificate: Wealth Management  Level 4  NQF Level 04  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.
     
    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.