NQF Level 4 | NLRD ID: 49835
Who will benefit from the programme?
The FETC: Retail Insurance is designed to meet the needs of learners who earn commission from the sale of insurance or financial service products, but do not necessarily work in the insurance sector. Learners may be employed in a variety of positions in retail outlets across a number of different industries. The Financial Advisory and Intermediary Services Act (FAIS) (Act 37 of 2002) imposes licensing requirements in terms of the Fit and Proper determination of the Financial Services Board (FSB). Learners who offer combinations of Long Term and Short Term insurance as subsidiary products or services are construed to be giving financial advice. They are therefore required to be licensed with the Financial Services Board.
The Curriculum is aligned to the Further Education & Training Certificate: Retail Insurance 49835 with a total credit value of 140 credits. The programme consists of Fundamentals—68 credits, core—58 credits and electives—14 credits which may vary based on the individual or company’s needs and is available in 30 credit skill blocks. The programme is presented by way of lectures, group discussions, case studies and role plays at NQF Level 4.
The minimum entry requirements for admission are:
- Competent in Communication at NQF Level 3
- Competent in Mathematical Literacy at NQF Level 3
Articulation: Any relevant NQF Level 5 qualification.
To complete the programme successfully, and be awarded a certificate, learners must be found competent in all aspects of the summative assessment according to requirements listed in the relevant student handbook.
Assessment of Participants
Assessment is both formative and summative and includes:
Individual and group exercises and tasks
Closed book assessments
Travel agents, Telemarketing Finance and Insurance Managers in motor dealers Salesman who insure packaged goods. Agents who insure household goods in transit Salespeople in furniture and electrical appliances Credit card insurance Employees in retail outlets that run accounts, in-store cards or debtors books an who sell debt protection insurance Estate agents who offer credit life cover and life cover for owners of bonds and rentals Aviation/Marine management agents and people who recommend insurance or give advice Managing agents who advise on insurance for Sectional Title Schemes.
- Interpreting current affairs and their influence on Retail Insurance.
- Managing personal finances and risk in a work environment.
- Understanding the nature and scope of Short Term Insurance.
- Understanding the nature and scope of Long Term Insurance.
- Applying knowledge of legislation, ethics and compliance in a Retail Insurance environment.
- Applying skills of customer care to build a professional relationship with a client