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

Demonstrate knowledge and understanding of all risks insurance 
SAQA US ID UNIT STANDARD TITLE
13839  Demonstrate knowledge and understanding of all risks insurance 
ORIGINATOR
SGB Financial Services 
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
Passed the End Date -
Status was "Registered" 
2002-06-12  2005-06-12  SAQA 0742/02 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2006-06-12   2009-06-12  

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
120011  Apply knowledge of personal all risks insurance  Level 4  NQF Level 04  Complete 

PURPOSE OF THE UNIT STANDARD 
This unit standard is intended for learners who wish to follow a career path in short term personal domestic insurance.

The qualifying learner is capable of:
  • Explaining all risks insurance.
  • Differentiating between specified and unspecified all risks cover.
  • Describing the optional cover available under all risks insurance.
  • Explaining indemnity under an all risks policy. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    There is open access to this Unit Standard. Learners should be competent in Communication, Mathematical Literacy and Financial Literacy at NQF Level 3. 

    UNIT STANDARD RANGE 
    The typical scope of this unit standard is specified and unspecified all risks insurance. 

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Explain all risks insurance. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. The concept of personal effects is explained with examples. 

    ASSESSMENT CRITERION 2 
    2. The events covered by an all risks policy are explained with examples. 

    ASSESSMENT CRITERION 3 
    3. The advantage of an all risks policy over a household contents policy is explained with examples. 

    ASSESSMENT CRITERION 4 
    4. Territorial limits on an all risks policy are explained with examples. 

    ASSESSMENT CRITERION 5 
    5. The concept of a specified or unspecified risk is explained as it applies in an all risks policy. 

    ASSESSMENT CRITERION 6 
    6. The underwriting criteria in respect of high value items are explained with reference to the requirements of a specific insurer. 

    SPECIFIC OUTCOME 2 
    Differentiate between specified and unspecified all risks. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. Limit of liability is explained for specified and unspecified all risks in five different policy schedules. 

    ASSESSMENT CRITERION 2 
    2. Reasons why valuation certificates or proof of purchase are required in the event of a claim are explained with reference to the type of risk and fraud.3. The unspecified section of an all risks policy wording is analysed and items that are not directly related to the rating of the premium are identified in that policy. 

    ASSESSMENT CRITERION 3 
    4. Three exclusions under the specified section of an all risks policy are identified in a specific policy. 

    ASSESSMENT CRITERION 4 
    5. Three exclusions under the unspecified section of an all risks policy are identified in a specific policy. 

    ASSESSMENT CRITERION 5 
    6. The need for additional insurance cover for a computer or laptop is explained in terms of replacement of data. 

    ASSESSMENT CRITERION 6 
    3. The unspecified section of an all risks policy wording is analysed and items that are not directly related to the rating of the premium are identified in that policy. 

    SPECIFIC OUTCOME 3 
    Describe the optional cover available under all risks. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. Optional cover required under the caravan section of an all risks policy is identified in a specific policy document. 

    ASSESSMENT CRITERION 2 
    2. Reasons why caravans are regarded as a high-risk low rate are explained and an indication is given of the exclusions under a specific all risks policy. 

    ASSESSMENT CRITERION 3 
    3. Limitations on cover of items stored in a bank vault are explained with reference to a specific policy document. 

    SPECIFIC OUTCOME 4 
    Explain indemnity under an all risks policy. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. The basis of indemnity is explained for a specified all risks policy. 

    ASSESSMENT CRITERION 2 
    2. The limit of indemnity in a specified all risks policy is explained for five case studies. 

    ASSESSMENT CRITERION 3 
    3. The settlement of a claim under the pairs and sets clause is explained for five case studies. 

    ASSESSMENT CRITERION 4 
    4. The locked boot warranty in a specified policy wording is explained in terms of exclusions. 

    ASSESSMENT CRITERION 5 
    5. The excesses in a specific policy are identified for five different scenarios. 

    ASSESSMENT CRITERION 6 
    6. The consequences of giving incorrect advice are explained in terms of Policyholder Protection legislation and Professional Indemnity. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
    This Unit Standard will be internally assessed by the provider and moderated by a moderator registered by INSQA. The mechanisms and requirements for moderation are contained in the document obtainable from INSQA,
    INSQA framework for assessment and moderation. 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO COLLECTING 
    Learners are able to collect, organise and critically evaluate information in identifying limitations, exclusions, options, conditions and provisions in a specific policy. 

    UNIT STANDARD CCFO COMMUNICATING 
    Learners are able to communicate effectively using visual, mathematics and language skills in explaining the various concepts in the unit standard and analysing an all risks policy. 

    UNIT STANDARD CCFO SCIENCE 
    Learners are able to use science and technology effectively and critically showing responsibility towards the environment and the health of others in using a computer to access information about specific all risks insurance 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. 

    UNIT STANDARD NOTES 
    This unit standard has been replaced by unit standard 120011, which is "Apply knowledge of personal all risks insurance", Level 4, 2 credits. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  24396   National Certificate: Risk Management  Level 4  NQF Level 04  Passed the End Date -
    Status was "Registered" 
    2006-10-08  Was INSETA until Last Date for Achievement 
    Elective  21796   National Certificate: Short Term Insurance  Level 4  NQF Level 04  Passed the End Date -
    Status was "Registered" 
    2005-06-12  Was INSETA 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 



    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.