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

Demonstrate knowledge and understanding of insurance of personal/domestic household contents and household buildings 
SAQA US ID UNIT STANDARD TITLE
10373  Demonstrate knowledge and understanding of insurance of personal/domestic household contents and household buildings 
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
120016  Apply knowledge insurance of household contents  Level 4  NQF Level 04   

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:
  • Describing the cover provided under personal/domestic household contents and household buildings insurance.
  • Explaining standard extensions, exclusions and optional covers in personal/domestic household contents and household buildings insurance.
  • Indicating the limitations to standard cover as opposed to specified and unspecified all risks cover.
  • Applying underwriting criteria in a personal/domestic household contents and household buildings insurance 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. This unit standard builds on the standard Process a short-term personal/domestic insurance claim. It is assumed that learners are competent in that standard before attempting this standard. 

    UNIT STANDARD RANGE 
    The typical scope of this unit standard is:
    1. Main events insured include fire, storm, theft, impact, and explosion. 

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Describe the cover provided under personal/domestic household contents insurance. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. The concepts of the insured and insured property are explained with examples from a personal/domestic household contents policy. 

    ASSESSMENT CRITERION 2 
    2. The most common insured events under standard personal/domestic household contents insurance are presented in a table with examples of each. 

    ASSESSMENT CRITERION 3 
    3. A policy document is analysed and an indication is given of the insured events (other than those in 1.2) in a personal/domestic household contents insurance policy. 

    ASSESSMENT CRITERION 4 
    4. The concept of accidental damage as opposed to accidental breakage in personal/domestic household contents insurance is explained with examples. 

    ASSESSMENT CRITERION 5 
    5. The limitation on standard cover provided under personal/domestic household contents insurance is explained and an indication is given of why additional cover is needed for computers. 

    ASSESSMENT CRITERION 6 
    6. The two bases of indemnity are explained with examples. 

    SPECIFIC OUTCOME 2 
    Describe the cover provided under personal/domestic household buildings insurance. 

    ASSESSMENT CRITERIA
     

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

    ASSESSMENT CRITERION 2 
    2. The five main events insured under standard personal/domestic household buildings insurance are presented in a table with examples of each. 

    ASSESSMENT CRITERION 3 
    3. The difference in the cover provided under household contents and household buildings cover is explained with examples. 

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

    ASSESSMENT CRITERION 5 
    5. The difference between a standard peril policy and an all risks building policy is explained and the exclusions under each are analysed for two specific policies. 

    SPECIFIC OUTCOME 3 
    Explain standard extensions, exclusions and optional covers. 
    OUTCOME NOTES 
    Explain standard extensions, exclusions and optional covers in personal/domestic household contents and household buildings insurance. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. The standard extensions covered by short term insurance under personal/domestic household contents insurance are indicated and a policy document is analysed for insurer differences. 

    ASSESSMENT CRITERION 2 
    2. The standard extensions covered by short term insurance under personal/domestic household buildings insurance are indicated and a policy document is analysed for insurer differences. 

    ASSESSMENT CRITERION 3 
    3. The exclusions that apply under standard personal/domestic household contents insurance are indicated with reference to a specific policy. 

    ASSESSMENT CRITERION 4 
    4. The concept of territorial limits in personal/domestic household contents insurance is explained in terms of permanent and temporary residence and an indication is given of how this applies in a defined peril policy. 

    ASSESSMENT CRITERION 5 
    5. Optional covers that can be added to or excluded from a personal/domestic household contents insurance policy are indicated with examples of each. 

    ASSESSMENT CRITERION 6 
    6. 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 7 
    7. The difference between the standard SASRIA cover and war exclusion under the household contents and household buildings policies is explained and applied to three case studies. 

    SPECIFIC OUTCOME 4 
    Indicate the limitations to standard personal/domestic household contents insurance cover. 
    OUTCOME NOTES 
    Indicate the limitations to standard personal/domestic household contents insurance cover as opposed to specified and unspecified all risks cover. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. The difference between accidental damage and breakage covered under personal/domestic household contents and all risks insurance is explained and an indication is given of the best type of cover for valuable goods. 

    ASSESSMENT CRITERION 2 
    2. The limits on collectibles in a specific policy are identified and an indication is given as to the best insurance for these items. 

    ASSESSMENT CRITERION 3 
    3. The cover on household goods in transit is explained with reference to a specific policy. 

    ASSESSMENT CRITERION 4 
    4. The needs of a specific client and the limitations of a specific personal/domestic household contents insurance policy are analysed and suggestions are made for additional cover to meet the needs in the client's circumstances. 

    ASSESSMENT CRITERION 5 
    5. The implications of giving incorrect advice are explained in terms of company professional indemnity and policyholder protection legislation. 

    SPECIFIC OUTCOME 5 
    Apply underwriting criteria. 
    OUTCOME NOTES 
    Apply underwriting criteria in a personal/domestic household contents and household buildings insurance policy. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. The underwriting criteria applied to age of the client, security, construction, claims history and rating area/zone are explained and an indication is given of how each can affect the risk for a household contents policy and a household buildings policy. 

    ASSESSMENT CRITERION 2 
    2. A rating table is used to calculate a premium for a household contents policy and a household buildings policy based on the underwriting criteria. 

    ASSESSMENT CRITERION 3 
    3. The concept of average is applied to a personal/domestic household contents and a household buildings insurance claim for two different scenarios. 

    SPECIFIC OUTCOME 6 
    Explain personal liability insurance. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. The concept of personal liability is explained with examples of cover under a standard personal/domestic policy. 

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

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

    ASSESSMENT CRITERION 4 
    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 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 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 personal/domestic household contents and 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 using visual, mathematics and language skills in explaining the various concepts in the unit standard and using a rate table to calculate a rate. 

    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 personal/domestic household contents 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 and the difference between SASRIA and war exclusion cover under a household contents and household buildings policy. 

    UNIT STANDARD NOTES 
    This unit standard has been replaced by unit standard 120016, which is "Apply knowledge insurance of household contents', Level 4, 4 credits. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    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.
     
    1. Invuya Institute of Learning (Pty) Ltd 



    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.