ASSESSMENT GUIDE

National Certificate: Wealth Management

ID 66611 - LEVEL 5 – CREDITS 120.

DEMONSTRATE KNOWLEDGE AND UNDERSTANDING OF THE FINANCIAL ADVISORY AND

INTERMEDIARY SERVICES ACT 2002 (FAIS) (ACT 37 OF 2002) AS IT IMPACTS ON A SPECIFIC
FINANCIAL SERVICES SUB-SECTOR

SAQA: 242584

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Learner Information (Please Complete this Section)
Name & Surname:
ID Number
Tel/Cellphone Number
Email Address
Assessor Name:
Tel/Cellphone Number:
Moderator Name:
Tel/Cellphone Number

Declaration
I………………………………………………………………………………………… (Assessor) hereby declare
that the information contained in the attached documentation is, to my knowledge, correct and valid.
Learner Signature: Date: Assessor Signature: Date:

Moderator Signature Date

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 Copy of the Unit Standard

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:

Demonstrate knowledge and understanding of the Financial Advisory and Intermediary Services Act
2002 (FAIS) (Act 37 of 2002) as it impacts on a specific financial services sub-sector
SAQA US ID UNIT STANDARD TITLE
242584 Demonstrate knowledge and understanding of the Financial Advisory and Intermediary Services
Act 2002 (FAIS) (Act 37 of 2002) as it impacts on a specific financial services sub-sector
ORIGINATOR
SGB Insurance and Investment
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Finance, Economics and Accounting
ABET UNIT STANDARD PRE-2009 NQF LEVEL NQF LEVEL CREDITS
BAND TYPE
Undefined Regular Level 4 NQF Level 04 2
REGISTRATION STATUS REGISTRATION REGISTRATION END SAQA DECISION
START DATE DATE NUMBER
Reregistered 2015-07-01 2018-06-30 SAQA 10105/14
LAST DATE FOR LAST DATE FOR ACHIEVEMENT
ENROLMENT
2019-06-30 2022-06-30

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 replaces:

Pre-2009 NQF Replacement
US ID Unit Standard Title Credits
NQF Level Level Status
Demonstrate knowledge and insight of the Financial
NQF
12164 Advisory and Intermediary Services Act (FAIS) Level 4 2 Complete
Level 04
(Act 37 of 2002)

PURPOSE OF THE UNIT STANDARD

This Unit Standard is intended for learners in the Financial Services sector who are construed to give financial
advice under FAIS. It will be useful for Financial Planners, Intermediaries and learners employed by financial

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service providers.

The qualifying learner is capable of:

 Explaining the purpose of the Financial Advisory and Intermediary Services Act (FAIS).
 Explaining the requirements for licensing under FAIS.
 Explaining the mechanisms for enforcement and the implications for the intermediary and the industry.
 Discussing the effects of requirements for transparency and the right to information on the financial services
industry.

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING

It is assumed that learners are competent in Communication at Level 3.

UNIT STANDARD RANGE

The typical scope of this unit standard is:

 Financial Advisory and Intermediary Services Act 2002 (FAIS) (Act 37 of 2002) as it applies to Financial
Service Providers, Financial Advisors and Intermediaries.

Specific Outcomes and Assessment Criteria:

SPECIFIC OUTCOME 1
Explain the purpose of the Financial Advisory and Intermediary Services Act (FAIS).

ASSESSMENT CRITERIA

ASSESSMENT CRITERION 1
The need for the Financial Advisory and Intermediary Services Act (FAIS) is explained with reference to the
historical situation in South Africa and similar international legislation.

ASSESSMENT CRITERION 2
The concepts of financial services providers and financial products are explained with examples.

ASSESSMENT CRITERION 3
The protection of consumers afforded by FAIS is explained with examples.

SPECIFIC OUTCOME 2
Explain the requirements for licensing under FAIS.

ASSESSMENT CRITERIA

ASSESSMENT CRITERION 1
Work roles affected by FAIS are identified with reference to requirements for licensing by the Financial
Services Board related to each work role.

ASSESSMENT CRITERION 2
The relationship between Financial Services Providers and representatives is explained with reference to
accountability and responsibility.

ASSESSMENT CRITERION 3
The concept of a natural person is explained as defined in the FAIS legislation.

ASSESSMENT CRITERION 4
The process to be followed for licensing and on-going compliance is explained for a financial service provider.

ASSESSMENT CRITERION 5
Conditions under which suspensions, withdrawals and reinstatement of authorisation may be imposed are
explained with examples.

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SPECIFIC OUTCOME 3
Explain the mechanisms for enforcement and the implications for the intermediary and the industry.

ASSESSMENT CRITERIA

ASSESSMENT CRITERION 1
The role and functions of the Registrar are explained with reference to the relationship to the Financial Services
Board and the steps that the Registrar could take in cases of non-compliance.

ASSESSMENT CRITERION 2
The role and functions of the FAIS Ombuds are explained with reference to recent rulings and the implications
for a sub-sector.

ASSESSMENT CRITERION 3
The role, duties and powers of the courts are described in terms of judgements against organisations and redress
through the courts.

ASSESSMENT CRITERION 4
The rights of recourse available to aggrieved clients are explained with examples.

SPECIFIC OUTCOME 4
Discuss the effects of requirements for transparency and the right to information on the financial services
industry.

ASSESSMENT CRITERIA

ASSESSMENT CRITERION 1
The manner in which complaints are handled by the industry is investigated with reference to Financial Services
Board directives.

ASSESSMENT CRITERION 2
The consequences arising from rulings from an approach to a regulatory body by a client are discussed for a
specific organisation.

ASSESSMENT CRITERION 3
The impact as a result of rulings by the Ombud is discussed for a selected sub-sector.

UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS

 Anyone assessing a candidate against this Unit Standard must be registered as an assessor with the relevant
ETQA or ETQA where a Memorandum of Understanding (MOU) exists with the relevant ETQA.

 Any institution offering learning that will enable achievement of this Unit Standard must be accredited as a
provider through the relevant ETQA or ETQA where a Memorandum of Understanding (MOU) exists with the
relevant ETQA.

 Moderation of assessment will be overseen by the relevant ETQA according to the moderation guidelines and
the agreed ETQA procedures.

UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE

N/A

UNIT STANDARD DEVELOPMENTAL OUTCOME

N/A

UNIT STANDARD LINKAGES

N/A

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Critical Cross-field Outcomes (CCFO):
UNIT STANDARD CCFO COLLECTING
Learners can collect, organise and critically evaluate information in analysing FAIS legislation and its effect on
a sub sector.

UNIT STANDARD CCFO DEMONSTRATING

Learners are able to demonstrate an understanding of the world as a set of related systems when explaining the
implications of non-compliance, and the need for legislation to regulate the industry.

UNIT STANDARD CCFO CONTRIBUTING

 Learners are able to act as responsible citizens in the organisation and local community by understanding the
mechanisms for enforcement and the implications for financial service providers, the intermediary and the
industry.

 Learners are able to explore education and career opportunities in indicating the requirements for licensing.

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

This unit standard replaces unit standard 12164, "Demonstrate knowledge and insight of the Financial Advisory
and Intermediary Services Act (FAIS) (Act 37 of 2002)", Level 4, 2 credits.

Search words: FAIS, Financial Advisory and Intermediary Services Act 2002 (FAIS) (Act 37 of 2002),
licensing, Fit and Proper requirements.

QUALIFICATIONS UTILISING THIS UNIT STANDARD:

PRE-
PRIMARY OR
QUALIFICATION 2009 NQF END
ID STATUS DELEGATED QA
TITLE NQF LEVEL DATE
FUNCTIONARY
LEVEL
Further Education and
NQF 2018-
Core 59097 Training Certificate: Level 4 Reregistered SERVICES
Level 04 06-30
Real Estate
National Certificate: As per Learning
Contact Centre and NQF 2018- Programmes
Elective 93997 Level 3 Reregistered
Business Process Level 03 06-30 recorded against
Outsourcing Support this Qual
Further Education and
Training Certificate: NQF 2018-
Elective 64289 Level 4 Reregistered MERSETA
Automotive Sales and Level 04 06-30
Support Services
Further Education and Passed the End
Training Certificate: NQF Date - 2012-
Elective 57613 Level 4 INSETA
Short-Term Risk Level 04 Status was 06-30
Management "Reregistered"
As per Learning
Further Education and
NQF 2018- Programmes
Elective 66613 Training Certificate: Level 4 Reregistered
Level 04 06-30 recorded against
Wealth Management
this Qual
Elective 66611 National Certificate: Level 5 Level Reregistered 2018- As per Learning
Wealth Management TBA: Pre- 06-30 Programmes

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2009 was recorded against
L5 this Qual

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 ASSESSMENT STRATEGY

LEVE CREDIT
US ID US TITLE
L S
DEMONSTRATE KNOWLEDGE AND UNDERSTANDING OF THE
FINANCIAL ADVISORY AND INTERMEDIARY SERVICES ACT 2002
242584 4 2
(FAIS) (ACT 37 OF 2002) AS IT IMPACTS ON A SPECIFIC FINANCIAL
SERVICES SUB-SECTOR
This Unit Standard is intended for learners in the Financial Services sector who are construed to give
Target
financial advice under FAIS. It will be useful for Financial Planners, Intermediaries and learners
Group
employed by financial service providers.
Assessment Approach
Assessment is focused on the applied competence of the learner and the relevant unit standards determine the
assessment criteria.
Summative Assessment
This is a summative assessment and assesses candidates for the following skills program/unit standard:
DEMONSTRATE KNOWLEDGE AND UNDERSTANDING OF THE FINANCIAL ADVISORY AND
INTERMEDIARY SERVICES ACT 2002 (FAIS) (ACT 37 OF 2002) AS IT IMPACTS ON A SPECIFIC
FINANCIAL SERVICES SUB-SECTOR
Learners are rated “Competent" or "Not Yet Competent”.
Assessment Team and Conditions
The collection of evidence for the purposes of this assessment will take place in either the candidate’s home-based
environment or in the classroom. The candidate will be expected to manage basic personal finance as stipulated by
the Unit Standards specific outcomes, range statements and assessment criteria.
The assessment team consists of the following:
 Evidence Collection Facilitator
 Assessor
 Internal Moderator (20% of all portfolios are moderated)
 External Moderator (20% of portfolios are moderated)
Special Assessment Needs
Special needs are dealt with in the Assessment Preparation Interview. Should the candidate present any special
needs requests, the assessment will be adjusted, provided that the fairness, validity and making sure that the
reliability of the assessment are not compromised.
In addition the knowledge test may be administered as an oral interview or as a written test depending on the
confidence and language levels of the candidates.
Assessment process
Review this assessment guide to:

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  Ensure that you understand all the requirements of the assessment in terms of evidence required to
prove competence.
 Validate the assessment instruments against the candidate’s context.
 Ensure that you have familiarised yourself with all the policies and procedures referred to in the
assessment guide.
Identify and prepare the candidate for the assessment by:
 Conducting the “Assessment Preparation Interview, Sheet” where all the details regarding the
assessment are discussed and agreed to by all parties. OR
 Provide the candidate with a letter detailing all the specifications covered in the “Assessment
Preparation Interview Sheet.”

Conduct Assessment
1. Review the assessment plan with the candidate.
2. Collect the evidence in accordance with the instrument requirements.
Please note that the checklist covers the following:
 Knowledge Questioning
 This assessment covers all the foundational competence as outlined by the specific outcomes,
range statements and assessment criteria in the unit standard and may be conducted as a written or oral
test.
Gather, record and make judgments on all the evidence.

Make assessment Decision

1. Make assessment decision and discuss the results with the learner in a face-to-face interview.
2. Ensure that your feedback is developmental and supportive in nature.
3. Advise the candidate on what action to follow in the event of a “Not-Yet-Competent”.
4. Advise the candidate on what action to take where he/she feels the need to appeal your decision.
5. Allow the candidate time to provide you with feedback relevant to the process.
6. Ensure the candidate counter-signs the “Assessment Decision” to indicate his/her agreement to the
feedback and overall score.
7. Record the candidate’s feedback in this guide and ensure that it is provided to the person responsible for
the quality assurance of assessment tools.
8. Handle any disputes and identify matter that requires contingency planning.

Review the Assessment Process

Complete the “Assessment Review” documents and submit to the assessment co-coordinator.
Assessment Confirmation

Dear: (Candidate Name & Surname)

………………………………………………………………………………………………………

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This serves as a confirmation that your “Assessment Preparation Interview” will be conducted on the
……………………………… (Date) at………………………………… (Venue)
We will discuss:
 The purpose of the assessment.
 The date, time and venue of your assessment.
 The context of the NQF.
 And select the Unit Standard against which you will be assessed.
 The credit value, level, of the unit standard against which you will be assessed.
 The assessment procedure.
 The assessment methods to be used in your assessment.
 How the evidence will be collected.
 What evidence you are required to present on the day, whether direct, historical or indirect.
 Your special requirements, whether medical or personal, that will affect the assessment procedure.
 And agree to feedback procedures.
 The moderation process.
 Appeals procedure.
 Agree to and sign the assessment plan.
Please do not hesitate to contact me should you have any further queries.

Thank you

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 Assessment Preparation Interview Sheet

DESCRIPTION YE NO COMMENTS/
S CONTINGENCY
This assessment is a formative assessment and it is based on
the outlined skills program/unit standard/s:
DEMONSTRATE KNOWLEDGE AND
UNDERSTANDING OF THE FINANCIAL ADVISORY
AND INTERMEDIARY SERVICES ACT 2002 (FAIS)
(ACT 37 OF 2002) AS IT IMPACTS ON A SPECIFIC
FINANCIAL SERVICES SUB-SECTOR
Your assessment evidence for the skills program/unit
standard: DEMONSTRATE KNOWLEDGE AND
UNDERSTANDING OF THE FINANCIAL ADVISORY
AND INTERMEDIARY SERVICES ACT 2002 (FAIS)
(ACT 37 OF 2002) AS IT IMPACTS ON A SPECIFIC
FINANCIAL SERVICES SUB-SECTOR, and needs to be
submitted on the assigned due dates.
You will be assessed based on the outlined Unit Standards.
The assessment activities are linked to specific
outcomes/assessment criteria of the outlined Unit Standards.
To determine your competence level, the following are the
methods to be used for this assessment:
1. Knowledge questionnaire
2. Product Sampling
To be declared competent on the following skills
program/unit standard: DEMONSTRATE KNOWLEDGE
AND UNDERSTANDING OF THE FINANCIAL
ADVISORY AND INTERMEDIARY SERVICES ACT
2002 (FAIS) (ACT 37 OF 2002) AS IT IMPACTS ON A
SPECIFIC FINANCIAL SERVICES SUB-SECTOR
(formative assessment), you should have obtained at least
80% of the total mark of this assessment.
You will be provided with detailed feedback on your
performance of this assessment as follows:
1. Written Feedback
2. Verbal Feedback
Should you be declared “not yet competent” on this
assessment, you will be entitled for re-assessment

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opportunity/ies.
You will be required to re-submit evidence (only for areas)
you were declared not yet competent. A date for re-
submission will be agreed with the assessor.
You will be entitled to lodge an appeal should you not be
satisfied with the assessment decision of your assessment.
You will be required to provide the assessor feedback on
assessment procedure – this is to assist in improving the
assessment practices.
Your results of assessment and portfolio of evidence
information will not be provided to any person without your
written consent.

Declaration

I…………………………………………………………………………………………….(Learner) herewith
declare that I am ready for the assessment, that we have reviewed the assessment preparation and plan, I
understand the assessment process and I am happy that the assessment will be conducted in a fair manner.
Learner Signature: Date: Assessor Signature: Date:

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 Appeals Application

Candidate Application Date

Assessor Assessment Date
Assessment Venue

DEMONSTRATE KNOWLEDGE AND UNDERSTANDING OF THE

Unit Standard against
FINANCIAL ADVISORY AND INTERMEDIARY SERVICES ACT 2002 (FAIS)
which you were
(ACT 37 OF 2002) AS IT IMPACTS ON A SPECIFIC FINANCIAL SERVICES
assessed
SUB-SECTOR

What was the purpose of the

assessment?

Explain how you were assessed?

List the reasons why you disagree with

the assessment decisions.

Another Assessor
Different Assessment Instrument
Which one of the following options could
Different Assessment Method
resolve the matter?
Different Venue for Assessment
Different Time
List any special needs you may have.
Candidate signature  Date
Moderator signature Date

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 Re-Assessment Policy
The following will apply with reference to the (Insert company name) re-assessment policy:
1. When a candidate has to undergo re-assessment, he/she will be given specific feedback and guidance so
as to concentrate on areas of weakness.
2. The onus is on the candidate to communicate with the assessor to inform him/her when he/she is ready
for assessment
3. The re-assessment will take place in the same/similar situation or context and under the same conditions
4. The same assessment methods and/or instruments may be used, but the task and materials will be
different but at the same level and complexity as the previous task
5. Re-assessment can take place a maximum of 2 times per candidate, per unit standard. Any further
reassessment must be discussed with clients so as to arrive at the best solution and advice for the
learner.
6. A maximum of 3 months will be allowed in between each re-assessment, unless otherwise discussed
between the parties
7. Guidance will be given to those candidates who are unsuccessful after 3 attempts, and possible and
more suitable learning avenues will be offered to learners. Costs will be discussed with the SETA and
client and any costs incurred will be at a learners’ cost.

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 Unit Standard Alignment

Assessment Matrix: US ID: 242584

DEMONSTRATE KNOWLEDGE AND UNDERSTANDING OF THE FINANCIAL

NQF Level:
Unit standard ADVISORY AND INTERMEDIARY SERVICES ACT 2002 (FAIS) (ACT 37 OF ID: 242584 Credits: 2
4
2002) AS IT IMPACTS ON A SPECIFIC FINANCIAL SERVICES SUB-SECTOR

Unit standard range The typical scope of this unit standard is:
Financial Advisory and Intermediary Services Act 2002 (FAIS) (Act 37 of 2002) as it applies to Financial Service Providers, Financial Advisors and
Intermediaries.

Formative Assessment P = Project Q = Questioning B = Brainstorming R = Role-play CS = Case Study W = Workplace Activity S = Self-
Strategy Legend Assessment Checklist

Summative Assessment O = Observation Q = Questioning PS = Product Sampling R = Role-play CS = Case Study T = Testimonial P
Strategy Legend = Project

Summative Assessment
Specific outcomes and Media Aids, Formative Formative Instruments Specific Outcome Date &
Delivery Methods
assessment criteria Resources Assessment activities & Reference signature
Instruments Questions

Specific Outcome 1 Explain the purpose of the Financial Advisory and Intermediary Services Act (FAIS).

AC1.1 Facilitation. Learner Manual, Q, B, CS, W Activity 1-3 Task 1-3 Learner Guide:
The need for the Financial Classroom Classroom equipment Questioning p. 8- 12
Advisory and Intermediary discussion. Identifying
Services Act (FAIS) is Workbook:
explained with reference to the p.9 - 10
historical situation in South

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Africa and similar international
legislation.

AC 1.2 Facilitation. Learner Manual, Q, B, CS, W Activity 1-3 Task 1-3 Learner Guide:
The concepts of financial Classroom Classroom equipment Questioning p. 8- 12
services providers and discussion. Identifying
financial products are Workbook:
explained with examples. p.9 - 10

AC 1.3 Facilitation. Learner Manual, Q, B, CS, W Activity 1-3 Task 1-3 Learner Guide:
The protection of consumers Classroom Classroom equipment Questioning p. 8- 12
afforded by FAIS is explained discussion. Identifying
with examples. Workbook:
p.9 - 10

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Formative Assessment P = Project Q = Questioning B = Brainstorming R = Role-play CS = Case Study W = Workplace Activity S = Self-
Strategy Legend Assessment Checklist

Summative Assessment O = Observation Q = Questioning PS = Product Sampling R = Role-play CS = Case Study T = Testimonial
Strategy Legend P = Project

Summative
Media Aids, Assessment Specific
Specific outcomes and Formative Formative
Delivery Methods Resources Instruments Outcome Date & signature
assessment criteria Assessment activities
& Reference
Instruments
Questions

Specific Outcome 2 Explain the requirements for licensing under FAIS.

Outcome Range

AC 2.1 Facilitation. Classroom Learner Manual, Q, B, CS, W Activity 4 - 8 Task 3 - 6 Learner Guide:
Work roles affected by FAIS are discussion. Classroom Questioning P13 -24
identified with reference to equipment Identifying
requirements for licensing by the Written questions Workbook:
Financial Services Board related p.11 - 14
to each work role.

AC 2.2 Facilitation. Classroom Learner Manual, Q, B, CS, W Activity 4 - 8 Task 3 - 6 Learner Guide:
The relationship between discussion. Classroom Questioning P13 -24
Financial Services Providers and equipment Identifying
representatives is explained with Written questions Workbook:
reference to accountability and p.11 - 14

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responsibility.

AC 2.3 Facilitation. Classroom Learner Manual, Q, B, CS, W Activity 4 - 8 Task 3 - 6 Learner Guide:
The concept of a natural person discussion. Classroom Questioning P13 -24
is explained as defined in the equipment Identifying
FAIS legislation. Written questions Workbook:
p.11 - 14

AC 2.4 Facilitation. Classroom Learner Manual, Q, B, CS, W Activity 4 - 8 Task 3 - 6 Learner Guide:
The process to be followed for discussion. Classroom Questioning P13 -24
licensing and on-going equipment Identifying
compliance is explained for a Written questions Workbook:
financial service provider. p.11 - 14

AC 2.5 Facilitation. Classroom Learner Manual, Q, B, CS, W Activity 4 - 8 Task 3 - 6 Learner Guide:
Conditions under which discussion. Classroom Questioning P13 -24
suspensions, withdrawals and equipment Identifying
reinstatement of authorisation Written questions Workbook:
may be imposed are explained p.11 - 14
with examples.

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Formative Assessment P = Project Q = Questioning B = Brainstorming R = Role-play CS = Case Study W = Workplace Activity S = Self
Strategy Legend Assessment Checklist

Summative Assessment O = Observation Q = Questioning PS = Product Sampling R = Role-play CS = Case Study T = Testimonial
Strategy Legend P = Project

Summative
Media Aids, Assessment Specific
Specific outcomes and Formative Formative
Delivery Methods Resources Instruments Outcome Date & signature
assessment criteria Assessment activities
& Reference
Instruments
Questions

Specific Outcome 3 Explain the mechanisms for enforcement and the implications for the intermediary and the industry.

Outcome Range

AC 3.1 Facilitation. Classroom Learner Manual, Q, B, CS, W Activity 9 -10 Task 7-7 Learner Guide:
The role and functions of the discussion. Classroom Questioning P 25 – 26
Registrar are explained with equipment Written questions
reference to the relationship to Workbook:
the Financial Services Board and p. 15 - 16
the steps that the Registrar could
take in cases of non-compliance.

AC 3.2 Facilitation. Classroom Learner Manual, Q, B, CS, W Activity 9 -10 Task 7-7 Learner Guide:
The role and functions of the discussion. Classroom Questioning P 25 – 26
FAIS Ombuds are explained equipment Written questions

18
with reference to recent rulings Workbook:
and the implications for a sub- p. 15 - 16
sector.

AC 3.3 Facilitation. Classroom Learner Manual, Q, B, CS, W Activity 9 -10 Task 7-7 Learner Guide:
The role, duties and powers of discussion. Classroom Questioning P 25 – 26
the courts are described in terms equipment Written questions
of judgements against Workbook:
organisations and redress p. 15 - 16
through the courts.

Ac 3.4 Facilitation. Classroom Learner Manual, Q, B, CS, W Activity 9 -10 Task 7-7 Learner Guide:
The rights of recourse available discussion. Classroom Questioning P 25 – 26
to aggrieved clients are equipment Written questions
explained with examples. Workbook:
p. 15 - 16

18
Formative Assessment P = Project Q = Questioning B = Brainstorming R = Role-play CS = Case Study W = Workplace Activity S = Self-
Strategy Legend Assessment Checklist

Summative Assessment O = Observation Q = Questioning PS = Product Sampling R = Role-play CS = Case Study T = Testimonial
Strategy Legend P = Project

Summative
Media Aids, Assessment Specific
Specific outcomes and Formative Formative
Delivery Methods Resources Instruments Outcome Date & signature
assessment criteria Assessment activities
& Reference
Instruments
Questions

Specific Outcome 4 Discuss the effects of requirements for transparency and the right to information on the financial services industry.

Outcome Range

AC 4.1 Facilitation. Classroom Learner Manual, Q, B, CS, W Activity 11 -12 Task 8 -10 Learner Guide:
The manner in which complaints discussion. Classroom p. 27- 31
are handled by the industry is equipment
investigated with reference to Workbook:
Financial Services Board p.17 -18
directives.

AC 4.2 Facilitation. Classroom Learner Manual, Q, B, CS, W Activity 11 -12 Task 8 -10 Learner Guide:
The consequences arising from discussion. Classroom p. 27- 31
rulings from an approach to a equipment
regulatory body by a client are Workbook:
discussed for a specific p.17 -18

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organisation.

AC 4.3 Facilitation. Classroom Learner Manual, Q, B, CS, W Activity 11 -12 Task 8 -10 Learner Guide:
The impact as a result of rulings discussion. Classroom p. 27- 31
by the Ombud is discussed for a equipment
selected sub-sector. Workbook:
p.17 -18

Critical cross-field outcomes Description

UNIT STANDARD CCFO  Learners can collect, organise and critically evaluate information in analysing FAIS legislation and its effect on a sub sector.
COLLECTING

UNIT STANDARD CCFO  Learners are able to demonstrate an understanding of the world as a set of related systems when explaining the implications of non-
DEMONSTRATING compliance, and the need for legislation to regulate the industry.

UNIT STANDARD CCFO  Learners are able to act as responsible citizens in the organisation and local community by understanding the mechanisms for enforcement

18
CONTRIBUTING and the implications for financial service providers, the intermediary and the industry.
 Learners are able to explore education and career opportunities in indicating the requirements for licensing.

18