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 application of Sectional Title Insurance 
SAQA US ID UNIT STANDARD TITLE
120018  Demonstrate knowledge and application of Sectional Title 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 intended for learners who give advice on insurance of Sectional Title Schemes. It will be useful for Intermediaries, Property Administrators, Estate Agents who administer buildings and receive commission and Trustees of Sectional Title Schemes who deal direct with Insurers.

The qualifying learner is capable of:
  • Differentiate between the insurance of individually owned property and communal property ownership.
  • Identify and explain insurance aspects specific to Sectional Title Insurance.
  • Interpret documents that apply to Sectional Title Insurance.
  • Explain how Sectional Title policies are underwritten.
  • Explain the claims process for Sectional Title Insurance. 

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

    UNIT STANDARD RANGE 
    The typical scope of this Unit Standard is:
  • Communal property ownership includes, but is not limited to, Sectional Title, Share Block, Home Owners Association, Cluster Development and Timeshare.
  • Insurance of communal properties includes, but is not limited to, damage to more than one unit, geysers and hot water systems.
  • Issues specific to communal properties include, but are not limited to public liability, cross liability, Trustee indemnity and common property.
  • Sectional title rules include Management Rule 29 and 37(g).
  • Supporting documents include, but are not limited to, survey reports, valuation reports, loss adjuster's reports, engineers reports, fire certificates, plans for extensions and additions and completion certificates. 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Differentiate between insurance of individually owned property and communal property ownership. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Different kinds of communal property ownership are described with reference to the title deeds. 

    ASSESSMENT CRITERION 2 
    The difference between individual property ownership and communal property ownership is explained in terms of the insurance of each. 

    ASSESSMENT CRITERION 3 
    Issues specific to the insurance of communal properties is explained with examples. 

    ASSESSMENT CRITERION 4 
    Problems encountered by insurers of Sectional Title properties are discussed with reference to why problems arise with insurance of sectional Title Schemes. 

    SPECIFIC OUTCOME 2 
    Identify and explain insurance aspects specific to Sectional Title. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Relevant sections of the Sectional Titles Act and accompanying rules are analysed to determine the legal requirements for insurance. 

    ASSESSMENT CRITERION 2 
    The role and responsibilities of Trustees in a sectional Title Scheme are explained with reference to insurance. 

    ASSESSMENT CRITERION 3 
    The effect of current bonds on the value of a property is explained with examples. 

    ASSESSMENT CRITERION 4 
    The relationship between insured values, PQ values and insurance on improvements to individual units is explained with examples. 

    ASSESSMENT CRITERION 5 
    Different methods for calculating communal property values are explained and an indication is given of why it is important to ensure that property values are updated regularly. 

    SPECIFIC OUTCOME 3 
    Interpret documents that apply to Section Title insurance. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The uses of an insurance certificate and a confirmation of insurance are explained and an indication is given of the information on each. 

    ASSESSMENT CRITERION 2 
    A policy wording and schedule are analysed to determine the terms and conditions, exclusions, excesses and the description of the insured. 

    ASSESSMENT CRITERION 3 
    The parties to an insurance contract in Sectional Title insurance are identified for a specific scheme and an indication is given of the responsibilities of each. 

    ASSESSMENT CRITERION 4 
    Supporting documents required in the event of a claim are identified and interpreted and an indication is given of when it is appropriate to request each type of evidence. 

    SPECIFIC OUTCOME 4 
    Explain how Sectional Title policies are underwritten. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The risks associated with a group of clients are identified and an indication is given of factors that increase risk. 

    ASSESSMENT CRITERION 2 
    Cross liabilities within a Sectional Title client are explained with examples. 

    ASSESSMENT CRITERION 3 
    The characteristics of a multiple client base are investigated with reference to the effect on premium and cover. 

    SPECIFIC OUTCOME 5 
    Explain the claims process for Sectional Title insurance. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The process to be followed by a client in lodging a claim is outlined for a specific insurer and Body Corporate. 

    ASSESSMENT CRITERION 2 
    Issues relating to the settlement of claims and payment of excess are explained for a specific insurer and Body Corporate. 


    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 COLLECTING 
    The learner is able to collect, organise and critically evaluate information in investigating the characteristics of a multiple client base. 

    UNIT STANDARD CCFO COMMUNICATING 
    The learner is able to communicate effectively in discussing problems that arise in Sectional Title insurance. 

    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 
    Elective  57613   Further Education and Training Certificate: Short-Term Risk Management  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered" 
    2012-06-30  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.
     
    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. 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.