FETC Short-term Insurance Qualification (49929)
The Further Education and Training Qualification in Short-Term Insurance is a generic qualification that offers specialization in Short-Term Personal Lines and Commercial Lines. It aims to equip learners with the necessary knowledge, skills, attitudes, and values to operate effectively in the Short-Term Insurance Industry, providing a framework to develop competencies that will give insight into the sub-sector. The qualification will make learners who sell insurance policies in the Short-Term Insurance Sector more efficient, informed, and cost-effective workers who fulfil the FAIS Fit and Proper “Qualification” requirements.
(Additional registration if not completed in Grade 12)The Short-term Insurance Qualification is nationally recognized with SAQA ID 66610 and Inseta Learning Programme Number 49929.e The qualification consists of a Fundamental, a Core and an Elective Component. To be awarded the Qualification, learners are required to obtain a minimum of 150 credits.
The Short-term Insurance Program is divided into different blocks for ease of learning:
- Block 1, Block 2A, Block 2B, and Block 3 are the four main skills programs that make up the Short-term Insurance Program.
- Block 1 is focused mainly on legislation, while Block 2A and 2B is centered on various insurance aspects.
- Block 3 is focused on aspects of personal development, and the Financial Literacy fundamental component is included.
- Block 4 includes Numeracy Literacy, First Language, and Second Language if learners haven’t passed these subjects in Grade 12. (Additional registration if not completed in Grade 12)
FAIS Forward Consulting Services (Pty) Ltd, trading as FAIS Forward Academy, is accredited with INSETA to offer the FETC Short-term Insurance Qualification (STI) to the market (INSETA Provider Accreditation Number 130249)
Training Methodology
The Short-term Insurance Qualification is offered as a blended learning program, and learning will be mainly through self-study.
Contact sessions and monthly tutorial sessions:
- Monthly contact sessions will be held on the video-conferencing platform, Zoom
- During contact sessions, support for the completion of assessments is provided
- Voice recordings are provided on the eLearning platform that covers the most important aspect of every unit standard
Who the course is for?
The FETC Short-term Insurance Qualification is one of the recognized qualifications on the Financial Sector Conduct Authority (FSCA) list for Category 1 Financial Services Providers (FSP’s) and is one of the preferred qualifications for representatives in the short-term insurance industry who must comply with the FAIS Fit and Proper requirements.
Assessments
Assessments consists of a combination of informal activities, elearning assessments, formal written assignments and final summative assessments in the form of a sit-down, closed-book, invigilated exam.
- Informal assessments consist of interactive activities including multiple-choice, true/false, drag the words, fill in the blanks, and memory games.
- Formative Assessment 1 (FA1) is an e-Learning assessment that covers lower-level cognitive skills and tests theoretical knowledge at the end of each unit standard.
- Formative Assessment 2 (FA2) is a written assignment that covers higher order thinking skills such as application, analyses, evaluation, and creation. It may include short and long questions, reports, essays, data matching, case studies, and workplace scenarios.
- Final Integrated Summative Assessment (FISA) is a closed book, invigilated, sit-down examination that covers integrated questions based on the outcomes for the unit standard. It consists of a combination of knowledge, comprehension, application, and analysis questions.
- Learners must complete all informal assessments, formative assessments, and be deemed competent before
writing the FISA.
Requirements
Learners are expected to have Communication and Mathematical Literacy skills at NQF Level 3.
Those who did not complete Mathematics, English, and a Second Language in Grade 12 must complete the relevant unit standards as part of the qualification.
Recognition of prior learning
FAIS Forward Academy is not accredited to formally recognise prior learning, but all previously completed unit standards that form part of the full qualification, will be considered.
Application to Inseta to recognise fundamentals which includes Mathematics and/or English, and/or a Second African Language, will be part of the Inseta Verification process.
Course duration
Learners must complete each skills programme within a 6-month period and the full qualification within 18 months from date of registration. Failure to do so will result in additional fees for re-registration.
Certification
- Representatives in the financial services have six years to complete a qualification recognized by the FSCA for the product categories in which they operate.
- Upon successful verification of the e-Portfolio of Evidence, INSETA issues the learner with a Statement of Results or a certificate for the full qualification.
- A Statement of Results indicates the competency per unit standard achieved and is issued after an endorsed INSETA verification.
- In special circumstances, a provisional Statement of Results subject to moderation and INSETA verification will be issued.
- After successful completion of all the skills programmes for the qualification, learners will receive a full qualification certificate from INSETA.
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