Further Education and Training (FETC): Short Term Insurance (NQF4)

At Moonstone Business School of Excellence, we are proud to offer various courses including short term insurance courses. The qualification covers short-term related learning and provides a framework for students to develop competencies that will give them insight into the Short-term insurance sub-sector. It introduces a basic understanding of the key terms, rules, concepts and principles of the fields that will ready them for the industry.

What will this Qualification enable you to do?

  1. Advise on Short-term Commercial or Personal lines
  2. Carry out basic research, information gathering, analysis and communicate it to a larger
  3. Offer advice in terms of current Determination of Fit and Proper Requirements for Financial Services
  4. Acquire knowledge about behaviour and ethics in a work-place environment, managing personal finance and tax.

Who should apply?

Students employed in Short-term insurance industry and who give advice on Personal lines and or Commercial line business.

Content

The full qualification of 150 credits is divided into Skills Programmes of approximately 30 credits each:

 

  • Each Skills Programme is an independent programme and one can enrol at any time for a Skills Programme.
  • This qualification is unit standard-based: Students will receive credits for each Skills Programme they finish i.e. you do not have to finish the full qualification to receive credits.
  • At least three Skills Programmes are compulsory.
  • Two of the Skills Programmes are mathematics or mathematics literacy and communication literacy: students with a
  • grade 12 certificate with mathematics and two languages present, will be granted possible exemption.
  • Students must choose between the Personal Lines and Commercial Lines Skills Programme.

Skills Programme 1 – Compulsory
Personal Lines
(31 credits)

The majority of these Skills Programmes mainly consist of legislation, customer care, relationship building, and ethical conduct. A student will have the knowledge, and understanding of, ‘insurance of pleasure craft’, house owner insurance, household content, personal liability insurance, reinsurance and how to process Short-term insurance claims.

OR

Skills Programme 1 – Compulsory
Commercial Lines
(32 credits)

The majority of these Skills Programmes are electives. A student will learn to underwrite standard risk in Commercial Lines and have a good knowledge base of business insurance, all risk section of business insurance and Short-term reinsurance. They will also have an understanding of how to process a Short-term insurance claim.

Skills Programme 2 – Compulsory
(33 credits)

Students will:

  • Have knowledge of SASRIA and personal sales tax.
  • Interpret basic financial statements.
  • Manage financial risk personally and in the workplace.
  • Apply and understand the cover provided under a Multi-Peril insurance policy and the law of contract to insurance.

Skills Programme 3 – Compulsory
(32 credits)

Students will demonstrate knowledge and understanding of personal motor insurance and ethical conduct, as well as analyse new developments that could impact on ST insurance, compliance services, customer care, use of an electronic system in ST insurance and an insight of the FAIS act.

Skills Programme 4 – Elective
Mathematics
(16 credits)

Students who have passed mathematics in grade 12 will possibly be granted exemption.
If you are not granted exemption, you will learn to apply knowledge of statistics and probability and use mathematics to investigate and monitor the financial aspects of personal/ business issues.

Skills Programme 5 – Elective
Communication and additional SA Language
(40 credits)

Students who have passed two languages in grade 12 will possibly be granted exemption.
If you are not granted exemption, you will learn to read, interpret and use information from texts as well as write and engage in oral communication.

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Learning Material
  • Learning material is developed for outcome-based training and is developed in conjunction with industry requirements.
  • Learning material is continuously updated with any changes in the marketplace.
  • Learning material is easy to access and easy to understand without facilitation.
  • The Learning material is only available in English.
Accreditation and Certification

The Qualification consist of Fundamental, Core and Elective Components. To be awarded the Qualification, students are required to obtain a minimum of 150 credits in line with the component requirements. Certification will occur as soon as all the relevant unit standards toward the qualification have been completed, verified and endorsed by INSETA and uploaded onto the National Learner Records Database (NLRD).

Assessments
  • After completion of the Portfolio of Evidence, the students will either courier the proof of evidence to the Assessor or upload on LMS for assessment. Once assessed and the students is found Competent in all the Skills Programmes, MBSE will contact the candidate to arrange for a closed-book Summative Assessment.
  • Additional assignments will be handed in on the day of the Summative Assessment.
  • Should the candidate be unsuccessful in the Skills Programmes on the Portfolio of Evidence, MBSE will contact the candidate to apply for a rewrite on these Skills Programmes.
  • Once Competent MBSE will arrange for the Summative Assessment.