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: 

Demonstrate knowledge and understanding of house owners insurance 
SAQA US ID UNIT STANDARD TITLE
120015  Demonstrate knowledge and understanding of house owners insurance 
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 
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 learners who wish to follow a career path in Short Term personal insurance or retail insurance. It covers insurance of fixed property for domestic use and will be useful for Intermediaries, Underwriters, Claims and Policy Administrators, Product Developers and learners in Service Centres.

The qualifying learner is capable of:
  • Describing the cover provided under house owners insurance.
  • Explaining extensions, exclusions and optional covers in household buildings insurance.
  • Analysing a policy wording and schedule to determine cover.
  • Applying underwriting criteria in a household buildings insurance policy.
  • Explaining personal liability insurance. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    Learners should be competent in Communication and Mathematical Literacy at NQF Level 3. 

    UNIT STANDARD RANGE 
    The typical scope of this Unit Standard is:
  • Main events insured include fire, storm, theft, impact and explosion.
  • Underwriting criteria include, but are not limited to, construction, use and location.
  • Use includes, but is not limited to, holiday, permanent residence and rented out. 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Describe the cover provided under house owners insurance. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The concepts of the insured and insured property is explained with examples from a household buildings policy. 

    ASSESSMENT CRITERION 2 
    The three main events insured under household buildings insurance are explained with examples. 

    ASSESSMENT CRITERION 3 
    The difference between cover provided under household contents and house owners insurance is explained for a specific insurer. 

    ASSESSMENT CRITERION 4 
    A policy document is analysed and an indication is given of the insured events in a household buildings insurance policy. 

    SPECIFIC OUTCOME 2 
    Explain extensions, exclusions and optional covers in household buildings insurance. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The concept of landslip and subsidence is explained and an indication is given of the implications if it is not included in a policy schedule. 

    ASSESSMENT CRITERION 2 
    The difference between the standard SASRIA cover and war exclusion under the household buildings policy is explained with examples. 

    SPECIFIC OUTCOME 3 
    Analyse a policy wording and schedule to determine cover. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    A policy wording is analysed to determine terms and conditions. 

    ASSESSMENT CRITERION 2 
    A policy schedule is analysed to determine endorsements and amount of cover. 

    SPECIFIC OUTCOME 4 
    Apply underwriting criteria in a household buildings insurance policy. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The underwriting criteria applied a household buildings policy are explained and an indication is given of how each can affect the risk. 

    ASSESSMENT CRITERION 2 
    The concept of average is applied to household buildings insurance claim for two different scenarios. 

    ASSESSMENT CRITERION 3 
    The consequences of giving incorrect advice are explained in terms of FAIS, Policyholder Protection Rules and Professional Indemnity. 

    ASSESSMENT CRITERION 4 
    The relationship between excess and premium is explained with examples. 

    SPECIFIC OUTCOME 5 
    Explain personal liability insurance. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The concept of personal liability is explained with examples of cover under a household buildings policy. 

    ASSESSMENT CRITERION 2 
    The cover provided under a personal/personal policy is indicated from a specific policy. 

    ASSESSMENT CRITERION 3 
    Exclusions under a personal liability personal policy are analysed from a policy document. 

    ASSESSMENT CRITERION 4 
    The difference between property owners and tenants liability is explained as it applies to personal liability. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
    This Unit Standard will be internally assessed by the provider and moderated by a moderator registered by a relevant accredited ETQA or an ETQA that has a Memorandum of Understanding with the relevant accredited ETQA. 

    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 able to identify and solve problems in which responses show that responsible decisions using critical thinking have been made in suggesting additional cover needed in a household buildings insurance policy. 

    UNIT STANDARD CCFO COLLECTING 
    Learners are able to collect, organise and critically evaluate information in analysing the needs of a specific client and suggesting applicable cover. 

    UNIT STANDARD CCFO COMMUNICATING 
    Learners are able to communicate effectively in explaining the various concepts in the Unit Standard. 

    UNIT STANDARD CCFO SCIENCE 
    Learners are able to use science and technology effectively in using a computer to access information about specific house owners policies. 

    UNIT STANDARD CCFO DEMONSTRATING 
    Learners are able to demonstrate an understanding of the world as a set of related systems by understanding the implications of giving incorrect advice and the difference between SASRIA and war exclusion cover under a household buildings policy. 

    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 
    N/A 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  66609   Further Education and Training Certificate: Retail Insurance  Level 4  NQF Level 04  Reregistered  2021-06-30  As per Learning Programmes recorded against this Qual 
    Elective  66610   Further Education and Training Certificate: Short Term Insurance  Level 4  NQF Level 04  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. Alcari Learning Centre (Pty) Ltd 
    2. BRC Solutions (Pty) Ltd 
    3. CKP Development Agency (Pty) Ltd. 
    4. De Vries Management & Training Services cc 
    5. EJW Financial Services (Pty) Ltd 
    6. Executive People Development Solutions (Pty) Ltd 
    7. Faisit (Pty) Ltd 
    8. Indwe Risk Services (Pty) Ltd 
    9. Intec College 
    10. Intelligo Solutions Pty (Ltd) 
    11. Invuya Institute of Learning (Pty) Ltd 
    12. Masifunde Training Centre (Pty) Ltd 
    13. Octomate (Pty) Ltd 
    14. Outsurance Insurance Company Ltd 
    15. Ripple Effect 4 (Pty) Ltd 
    16. Santam Limited 
    17. Umfolozi FET College - Central Office 



    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.