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 THAT HAS PASSED THE END DATE: 

Apply technical knowledge and understanding of the cover provided under a Short Term Multi-Peril Insurance policy 
SAQA US ID UNIT STANDARD TITLE
120121  Apply technical knowledge and understanding of the cover provided under a Short Term Multi-Peril Insurance policy 
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  5 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Passed the End Date -
Status was "Reregistered" 		 2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2026-06-30   2029-06-30  

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 in Short Term insurance, both personal lines and commercial lines.

The qualifying learner is capable of:
  • Explaining why insurers market multi-peril policies.
  • Analysing a multi-peril personal lines policy.
  • Analysing a multi-peril commercial lines policy.
  • Differentiating between multi-peril personal lines policies and commercial lines policies. 
    		•

    LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    It is assumed that learners are competent in Communication and Mathematical Literacy at Level 3. 

    UNIT STANDARD RANGE 
    The typical scope of this Unit Standard is packaged products covering a range of different classes of insurance in one policy document for either personal or commercial, industrial, business and agricultural insurance. 

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Explain why insurers market multi-peril policies. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    Reasons why insurers developed multi-peril short term products are investigated with reference to an insurer's marketing strategy and the clients needs. 

    ASSESSMENT CRITERION 2 
    The implications of multi-peril policies are identified in terms of cost factors to a specific insurer and cost benefits for the client. 

    SPECIFIC OUTCOME 2 
    Analyse a multi-peril personal lines policy. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    A specific policy document is analysed in terms of perils and cover. 

    ASSESSMENT CRITERION 2 
    A client's specific needs are analysed and matched to specific cover. 

    ASSESSMENT CRITERION 3 
    The concept of personal lines insurance is explained with examples. 

    SPECIFIC OUTCOME 3 
    Analyse a multi-peril commercial lines policy. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    A specific policy document is analysed in terms of perils and cover. 

    ASSESSMENT CRITERION 2 
    The need for a combined commercial policy is explained with reference to intermediaries, clients and insurers. 

    ASSESSMENT CRITERION 3 
    The concept of commercial or business insurance is explained with examples. 

    SPECIFIC OUTCOME 4 
    Differentiate between multi-peril personal lines policies and commercial lines policies. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    The cover under a multi-peril personal lines policy and a commercial lines policy are compared in terms of similarities and differences. 

    ASSESSMENT CRITERION 2 
    The options of a multi-peril personal lines policy and a commercial lines policy are explained with examples. 

    ASSESSMENT CRITERION 3 
    The implications of running a business from home are explained in terms of personal and commercial cover. 

    ASSESSMENT CRITERION 4 
    Liability cover is compared for personal and commercial insurance. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
  • Anyone assessing a candidate against this Unit Standard must be registered as an assessor with the relevant ETQA or ETQA where a Memorandum of Understanding (MOU) exists with the relevant ETQA.
  • Any institution offering learning that will enable achievement of this Unit Standard must be accredited as a provider through the relevant ETQA or ETQA where a Memorandum of Understanding (MOU) exists with the relevant ETQA.
  • Moderation of assessment will be overseen by the relevant ETQA according to the moderation guidelines and the agreed ETQA procedures. 
    		•

    UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
  • The basic principles of short term insurance.
  • The classes and specialist categories of short term insurance.
  • Products marketed as short term insurance.
  • The players in the short term insurance market.
  • The role and functions of the short term ombudsman. 
    		•

    UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO COLLECTING 
    The learner can collect, organise and evaluate information when matching the needs of a client to the appropriate cover. 

    UNIT STANDARD CCFO COMMUNICATING 
    The learner can communicate effectively when explaining the cover under multi-peril policies. 

    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
    Core  66610   Further Education and Training Certificate: Short Term Insurance  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-07-30  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 
    Elective  66613   Further Education and Training Certificate: Wealth Management  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  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.
     
    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.