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

Determine the needs and wants of an entity at risk in order to propose an appropriate financial solution 
SAQA US ID UNIT STANDARD TITLE
14519  Determine the needs and wants of an entity at risk in order to propose an appropriate financial solution 
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 5  Level TBA: Pre-2009 was L5 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Passed the End Date -
Status was "Registered" 
2003-08-13  2006-08-13  SAQA 0249/03 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2007-08-13   2010-08-13  

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
242573  Determine the needs and wants of an entity in order to propose an appropriate financial solution  Level 5  Level TBA: Pre-2009 was L5   

PURPOSE OF THE UNIT STANDARD 
This Unit Standard is intended for people who are required to conduct a needs analysis in order to propose an appropriate financial solution. It is relevant to trust fund managers, financial advisors, intermediaries, financial planners and product developers.

The qualifying learner is capable of:
  • Obtaining information in order to determine a risk profile and ascertain the needs of an entity.
  • Analysing information to crystallise the needs of an entity.
  • Determining potential financial solutions.
  • Comparing and evaluating a potential solution against key financial aspects.
  • Proposing a potential financial solution. 

  • 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 and Mathematical and Financial Literacy at NQF Level 4. 

    UNIT STANDARD RANGE 
    An analysis tool may be anything from pen and paper to an electronic software package. 

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Obtain information in order to determine a risk profile and ascertain the needs of an entity. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. Questions are asked to obtain background information. 

    ASSESSMENT CRITERION 2 
    2. Questions are asked to probe and clarify a perceived problem. 

    ASSESSMENT CRITERION 3 
    3. Questions are asked to obtain ascertain needs and wants. 

    ASSESSMENT CRITERION 4 
    4. Questions are asked to ascertain an entity's current financial position. 

    ASSESSMENT CRITERION 5 
    5. Questions are asked to test possible solutions. 

    SPECIFIC OUTCOME 2 
    Analyse information to crystalise the needs of an entity. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. An analysis tool is used to assess the needs of the entity in relation to potential risk. 

    ASSESSMENT CRITERION 2 
    2. The problem or risk is quantified for potential events. 

    ASSESSMENT CRITERION 3 
    3. Legislation that regulates financial needs analyses is explained as it relates to a specific analysis. 

    SPECIFIC OUTCOME 3 
    Determine potential solutions. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. Knowledge of economic trends is applied to the needs of an entity. 

    ASSESSMENT CRITERION 2 
    2. A holistic picture is compiled of an entity at risk. 

    ASSESSMENT CRITERION 3 
    3. Potential solutions are matched to explicit needs. 

    ASSESSMENT CRITERION 4 
    4. A range of possible options is formulated for a specific entity. 

    SPECIFIC OUTCOME 4 
    Compare and evaluate a potential solution against key financial aspects. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. The tax situation on current and proposed solutions is compared and assessed for tax efficiency. 

    ASSESSMENT CRITERION 2 
    2. The impact of the proposed solution on estate planning is compared for the current and proposed situations. 

    ASSESSMENT CRITERION 3 
    3. The risk in the current and proposed situation is compared against the entity's risk profile. 

    ASSESSMENT CRITERION 4 
    4. The entity's current cash flow situation is compared to the cash flow resulting from the proposed solution. 

    ASSESSMENT CRITERION 5 
    5. The proposed solutions are evaluated against legal requirements. 

    SPECIFIC OUTCOME 5 
    Propose a potential financial solution. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. A range of options is explained at an appropriate level to allow an entity to make an informed decision. 

    ASSESSMENT CRITERION 2 
    2. The implications of changes in a selected index are explained with reference to of information on risk, terms, liquidity and other features of the solution. 

    ASSESSMENT CRITERION 3 
    3. The decision of the entity is recorded in accordance with policyholder protection rules or FAIS legislation. 

    ASSESSMENT CRITERION 4 
    4. A written proposal is formulated as required by current legislation and company practice. 


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

    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 IDENTIFYING 
    The learner is able to identify and solve problems in which responses show that responsible decisions using critical thinking have been made in identifying potential financial risk and proposing a solution. 

    UNIT STANDARD CCFO COLLECTING 
    The learner is able to collect, organise and critically evaluate information in conducting a needs analysis and proposing a possible financial solution. 

    UNIT STANDARD CCFO COMMUNICATING 
    The learner is able to communicate effectively using visual, mathematics and language skills in the modes of oral and/or written presentations in explaining features of a solution and presenting a written proposal. 

    UNIT STANDARD CCFO DEMONSTRATING 
    The learner is able to demonstrate an understanding of the world as a set of related systems by recognising that problem-solving contexts do not exist in isolation in applying knowledge of financial risk and available financial instruments and insurance products to propose a potential financial solution. 

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    UNIT STANDARD NOTES 
    This unit standard has been replaced by unit standard 242573, which is "Determine the needs and wants of an entity in order to propose an appropriate financial solution", Level 5, 4 Credits. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Core  23973   National Certificate: Financial Services: Wealth Management  Level 5  Level TBA: Pre-2009 was L5  Passed the End Date -
    Status was "Registered" 
    2006-08-13  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. Sanlam Life Insurance 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.