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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD: 

Perform basic mathematical calculations in a banking environment 
SAQA US ID UNIT STANDARD TITLE
12758  Perform basic mathematical calculations in a banking environment 
ORIGINATOR
SGB Banking and Micro Finance 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
BANKSETA - Banking Sector Education and Training Authority 
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 3  NQF Level 03 
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 
Persons credited with this Unit Standard are able to perform basic mathematical calculations relevant to banking and asset based financing. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
The learner should have achieved ABET level 4 numeracy skills. 

UNIT STANDARD RANGE 
Interest rates, the time value of money, VAT calculations, installments in advance and arrears, and balances calculations, exchange rates. 

Specific Outcomes and Assessment Criteria: 

SPECIFIC OUTCOME 1 
Select and perform basic interest rate calculations in a banking environment. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1.The principles of simple and compound interest rates are described in terms of their differences and applications. 

ASSESSMENT CRITERION 2 
2.The correct calculation is selected for the problem. 

ASSESSMENT CRITERION 3 
3.Simple interest rates on different day bases are calculated in practical situations. 

ASSESSMENT CRITERION 4 
4.Broken days are calculated in practical situations. 

SPECIFIC OUTCOME 2 
Explain, select and perform calculations based on the time value of money. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1.Discounting and compounding calculations are performed in a banking context. 

ASSESSMENT CRITERION 2 
2.Discounts, interest rates and yields are converted to one another. 

ASSESSMENT CRITERION 3 
3.The relationship between interest rates, inflation and the economy is explained using practical examples. 

ASSESSMENT CRITERION 4 
4.The monetary implications of arrears is calculated and explained in practical situations. 

ASSESSMENT CRITERION 5 
5.Perform payment calculations in advance and in arrear in an asset based financing context. 

SPECIFIC OUTCOME 3 
Explain and apply VAT related calculations. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1.The concept of VAT is explained and applied to practical examples. 

ASSESSMENT CRITERION 2 
2.The role of VAT as a progressive tax is explained in an economic context. 

ASSESSMENT CRITERION 3 
3.VAT is calculated on a chain of banking related transactions. 

ASSESSMENT CRITERION 4 
4.The VAT implications of banking and asset based financing arrangements are calculated and explained in practical situations. 

ASSESSMENT CRITERION 5 
5.The legal aspects of VAT payments are described in an asset based financing context. 

SPECIFIC OUTCOME 4 
Explain and perform exchange rate calculations in a banking context. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1.Current relevant buy and sell exchange rates are identified using at least two reference sources. 

ASSESSMENT CRITERION 2 
2.Local and foreign currencies are converted to one another. 

ASSESSMENT CRITERION 3 
3.The circumstances under which exchange rate calculations are performed in a banking and asset based financing environment are identified using case studies. 

ASSESSMENT CRITERION 4 
4.Exchange rate calculations are applied in a variety of banking and asset based financing situations. 

SPECIFIC OUTCOME 5 
Apply the use of basic business arithmetic in a banking environment. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1.Ratios relating to financial statements are calculated using practical examples (for example, liquidity ratios to determine a client's ability to pay their dues). 

ASSESSMENT CRITERION 2 
2.The use of percentages in calculating growth, change, discounts, mark-ups and selling prices is applied in a banking and asset based financing context. 

ASSESSMENT CRITERION 3 
3.Percentages and decimal notations are converted to one another. 

ASSESSMENT CRITERION 4 
4.Missing elements in simple equations are calculated using banking related examples. 


UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
Accreditation for this Unit Standards shall be from the relevant education and Training Quality Assurer through formative and summative assessment by a registered Assessor. Assessment should be contextual and be conducted in the workplace as far as possible.

The relevant NSB and SGB should be notified of any feedback related to this qualification.
  • Assessors must be registered as an Assessor with the relevant ETQA.
  • Moderators must be registered as assessors with the relevant ETQA.
  • Training providers must be accredited by the relevant ETQA.
  • Moderation should include both internal and external moderation where applicable.
  • The relevant ETQA will co-ordinate all moderation activities in accordance with their policies and procedures. 

  • UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
  • The learner should have numeracy and literacy skills to at least ABET level 4. 


  • Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO COLLECTING 
  • The learner is able to collect, analyse, organise and evaluate information when determining the correct type of calculation to perform in a given situation. 

  • UNIT STANDARD CCFO COMMUNICATING 
  • The learner is able to communicate effectively using visual, mathematical and / or language skills in the modes of oral and / or written persuasion when performing calculations and communicating the impact of the results of those calculations. 

  • UNIT STANDARD CCFO SCIENCE 
  • The learner is able to use science and technology effectively when applying their use to basic mathematical calculations. 

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

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  20184   National Certificate: Banking  Level 3  NQF Level 03  Reregistered  2023-06-30  BANKSETA 


    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.