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

Research the incidence, quantity and severity of an occurrence in order to uncover a trend and anticipate a financial risk 
SAQA US ID UNIT STANDARD TITLE
14527  Research the incidence, quantity and severity of an occurrence in order to uncover a trend and anticipate a financial risk 
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
242581  Research the incidence, quantity and severity of an occurrence in order to uncover a trend and anticipate a financial risk  Level 5  Level TBA: Pre-2009 was L5   

PURPOSE OF THE UNIT STANDARD 
This Unit Standard is intended for learners who are required to uncover trends that could indicate potential financial risk. The learner is required to make a financial decision or recommendation based on an interpretation of a trend. It is relevant to learners in risk finance, financial advisors, financial planners and intermediaries.

The qualifying learner is capable of:
  • Showing insight into the kind of events that present a financial risk or opportunity.
  • Creating a brief to guide research into financial risk associated with an occurrence.
  • Analysing and interpreting information to identify a trend and the associated financial implications.
  • Making a business decision based on an interpretation of a trend. 

  • 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 
  • The natural environment includes but is not limited to storms, floods, earthquakes and rock falls.
  • The social environment includes, but is not limited to, theft, fraud, strikes, HIV/AIDS, arson, hi-jacking and death from unnatural causes.
  • The political environment includes, but is not limited to elections and riots.
  • The economic environment includes, but is not limited to currency fluctuations, oil price, inflation, business interruption and economic indices.
  • The legislative environment includes, but is not limited to changes in legislation, regulations, government policy and liability losses. 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Demonstrate knowledge and insight into kind of events that present a financial risk or opportunity. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. The implications of events in the natural environment that could present a financial risk or opportunity are described for three different events. 

    ASSESSMENT CRITERION 2 
    2. The implications of events in the social environment that could present a financial risk or opportunity are described for three different people events. 

    ASSESSMENT CRITERION 3 
    3. The implications of events in the political environment that could present a financial risk or opportunity are described for three different events. 

    ASSESSMENT CRITERION 4 
    4. The implications of events in the economic environment that could present a financial risk or opportunity are described for three different events. 

    ASSESSMENT CRITERION 5 
    5. The implications of events in the legislative and regulatory environment that could present a financial risk or opportunity are described for three different events. 

    SPECIFIC OUTCOME 2 
    Create a brief to guide research into financial risk associated with an occurrence. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. Questions are formulated to identify issues and inform a research brief for a financial risk in an occurrence in the natural environment. 

    ASSESSMENT CRITERION 2 
    2. Questions are formulated to identify issues and inform a research brief for a financial risk in an occurrence in the social environment. 

    ASSESSMENT CRITERION 3 
    3. Questions are formulated to identify issues and inform a research brief for a financial risk in an occurrence in the political environment. 

    ASSESSMENT CRITERION 4 
    4. Questions are formulated to identify issues and inform a research brief for a financial risk in an occurrence in the economic environment. 

    ASSESSMENT CRITERION 5 
    5. Questions are formulated to identify issues and inform a research brief for a financial risk in an occurrence in the legislative and regulatory environment. 

    ASSESSMENT CRITERION 6 
    6. A brief is presented to guide research needed to assist in conducting a financial risk assessment for a recent specific occurrence. 

    SPECIFIC OUTCOME 3 
    Analyse and interpret information to identify a trend and the associated financial implications. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. Research into an occurrence is evaluated for relevance against a research brief. 

    ASSESSMENT CRITERION 2 
    2. Information in a research document is analysed to identify gaps, bias and potential misinformation. 

    ASSESSMENT CRITERION 3 
    3. The incidence, quantity and severity of an occurrence is analysed to identify a potential trend. 

    ASSESSMENT CRITERION 4 
    4. Research information is interpreted and manipulated to explain identified trends from the point of view of a specific financial services sub sector. 

    ASSESSMENT CRITERION 5 
    5. The concept of trend analysis is explained and an indication is given of what trend lines are fitted for three scenarios. 

    ASSESSMENT CRITERION 6 
    6. Regression analysis is used to analyse a trend. 

    ASSESSMENT CRITERION 7 
    7. Non-trend effects are explained and excluded from the analysis. 

    ASSESSMENT CRITERION 8 
    8. Confidence interval or another sensitivity analysis technique is used to predict the likelihood of the trend continuing. 

    SPECIFIC OUTCOME 4 
    Make a business decision or recommendation based on an interpretation of a trend. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. The severity of the risk associated with a specific occurrence is estimated for a specific financial services sub sector. 

    ASSESSMENT CRITERION 2 
    2. The potential financial implications are inferred from an analysis of the research. 

    ASSESSMENT CRITERION 3 
    3. The financial impact of an occurrence on an organisation or individual is estimated based on the research and knowledge of the organisation or individual. 

    ASSESSMENT CRITERION 4 
    4. A recommendation is made based on the interpretation of a trend. 


    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 and creative thinking have been made in uncovering a trend and making a business decision based on the interpretation of a trend. 

    UNIT STANDARD CCFO ORGANISING 
    The learner is able to organise and manage him/herself and his/her activities responsibly and effectively in planning and conducting the research in a time and cost efficient manner. 

    UNIT STANDARD CCFO COLLECTING 
    The learner is able to collect, organise and critically evaluate information in order to anticipate a financial risk. 

    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 using research information and uncovering a trend. 

    UNIT STANDARD CCFO SCIENCE 
    The learner is able to use science and technology effectively and critically in manipulating information using a computer. 

    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 by describing the implications and impact of environmental, social, political and economic occurrence, uncovering a trend and inferring potential financial risk. 

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    UNIT STANDARD NOTES 
    This unit standard has been replaced by unit standard 242581, which is "Research the incidence, quantity and severity of an occurrence in order to uncover a trend and anticipate a financial risk", Level 5, 7 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.