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:

Explain international credit risk insurance

SAQA US ID	UNIT STANDARD TITLE
14990	Explain international credit risk 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	4
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 who work in the field of credit insurance.

The qualifying learner is capable of:

Researching information related to international trade.

Demonstrating knowledge and understanding of the transport of goods and commodities.

Demonstrating knowledge and understanding of international banking and finance aspects that apply to credit risk insurance.

Analysing the terms and conditions of a policy document to determine the risk covered by the policy.

Explaining how the ISO (Internal Standards Organisation) procedures regulate service provided in industry.

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 3.

UNIT STANDARD RANGE

The typical scope of this Unit Standard is:

Factors that affect political standing of countries include, but are not limited to, political stability, currency, corporate governance, ethics, suitability for investment.

Documents required to transport goods across international borders include, but are not limited to customs export documents, banking documents, export consignment notes, invoices and certificates required for goods.

Causes of transfer delays include, but are not limited to, political, geographical, social and governance causes.

Specific Outcomes and Assessment Criteria:

SPECIFIC OUTCOME 1

Research information related to international trade.

ASSESSMENT CRITERIA

ASSESSMENT CRITERION 1

1. The main objectives of the World Trade Organisation are explained with examples.

ASSESSMENT CRITERION 2

2. The role of trade blocks in international trade is explained with reference to three different trade groupings.

ASSESSMENT CRITERION 3

3. The concept of a letter of credit is explained with examples.

ASSESSMENT CRITERION 4

4. The concept of a promissory note is explained with examples.

ASSESSMENT CRITERION 5

5. The concept of a bill of exchange is explained with examples.

ASSESSMENT CRITERION 6

6. The concept of a negotiable instrument is explained with examples.

ASSESSMENT CRITERION 7

7. Factors that determine the political standing of countries in terms of payment of debt are listed and an indication is given of how each factor affects trade.

ASSESSMENT CRITERION 8

8. The resources of a selected country are researched and an indication is given of how the resources affect world trade.

SPECIFIC OUTCOME 2

Demonstrate knowledge and understanding of the transport of goods and commodities.

ASSESSMENT CRITERIA

ASSESSMENT CRITERION 1

1. The main types of transport are listed and an indication is given of the most appropriate type of transport for three different goods or commodities.

ASSESSMENT CRITERION 2

2. The documents required to transport goods across international borders are identified for three different commodities.

ASSESSMENT CRITERION 3

3. The geographical position of three different countries is described in relation to South Africa and an indication is given of the transport options available to each country.

ASSESSMENT CRITERION 4

4. An atlas is used to locate countries and cities.

SPECIFIC OUTCOME 3

Demonstrate understanding of international banking that apply to international credit risk.

OUTCOME NOTES

Demonstrate knowledge and understanding of international banking and finance matters that apply to international credit risk.

ASSESSMENT CRITERIA

ASSESSMENT CRITERION 1

1. International banking procedures are explained with reference to how money is transferred from one country to another.

ASSESSMENT CRITERION 2

2. Possible causes of transfer delays between countries are explained with examples.

ASSESSMENT CRITERION 3

3. The current exchange rates of the four major currencies against the Rand are investigated and an indication is given of the difference in buying, selling and telegraphic transfer sales.

ASSESSMENT CRITERION 4

4. The effect of the rate of exchange on the import and export of goods is explained with reference to the Rand and an indication is given of when to use the buying rate and the selling rate.

ASSESSMENT CRITERION 5

5. A quote for billing a foreign buyer is converted from Rands into the four major currencies.

ASSESSMENT CRITERION 6

6. Three INCO terms relevant to trade are named and explained with examples.

SPECIFIC OUTCOME 4

Analyse the terms and conditions of a policy document to determine the risk covered by the policy.

ASSESSMENT CRITERIA

ASSESSMENT CRITERION 1

1. The terms and conditions in a policy document are explained and applied to three case studies and an indication is given of the cover under the policy.

ASSESSMENT CRITERION 2

2. The countries covered by an organisation's policies are named and an indication is given of specific conditions attached to the cover in each country.

ASSESSMENT CRITERION 3

3. The concept of a political risk is explained with examples.

ASSESSMENT CRITERION 4

4. The concept of a commercial risk is explained with examples.

SPECIFIC OUTCOME 5

Explain how ISO (Internal Standards Organisation) procedures regulate service provided in industry.

ASSESSMENT CRITERIA

ASSESSMENT CRITERION 1

1. The role of ISO standards is explained and an indication is given of how the standards influence an organisation's procedures.

ASSESSMENT CRITERION 2

2. The consequences of complying or not complying with SO standards are indicated for a specific organisation.

UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS

Accreditation for this Unit Standard shall be obtained from the relevant Education and Training Quality Assurance Body, through summative and formative assessment by a registered assessor.

Assessors must be registered as an Assessor with the INSQA or with an ETQA that has a Memorandum of Understanding with the INSQA.

Moderators must be registered as assessors with INSQA, or with an ETQA that has a Memorandum of Agreement with INSQA.

Training providers must be accredited by the relevant ETQA.

Moderation should include both internal and external moderation where applicable.

UNIT STANDARD DEVELOPMENTAL OUTCOME

N/A

UNIT STANDARD LINKAGES

N/A

Critical Cross-field Outcomes (CCFO):

UNIT STANDARD CCFO COLLECTING

Learners are able to collect, organise and critically evaluate information in researching international trade and investigating the rate of exchange of the four major currencies against the Rand.

UNIT STANDARD CCFO COMMUNICATING

Learners are able to communicate effectively in presenting the results of their research, converting a quote for billing into the four major currencies and using an atlas to locate countries and cities.

UNIT STANDARD CCFO DEMONSTRATING

Learners are able to see the world as a set of related systems in explaining the cause of transfer delays between countries.

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
Elective	57901	Further Education and Training Certificate: Credit Management	Level 4	NQF Level 04	Passed the End Date - Status was "Reregistered"	2023-06-30	FASSET
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

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.

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