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FAIS Fit and Proper . June 2008. Presentation overview. Implementation of the project Historically speaking Implementation of the project 07 – 09 Curriculum development RPL tools Learning material Pilot assessments National assessments Categories Assessment times

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presentation overview
Presentation overview
  • Implementation of the project
  • Historically speaking
  • Implementation of the project 07 – 09
  • Curriculum development
  • RPL tools
  • Learning material
  • Pilot assessments
  • National assessments
  • Categories
  • Assessment times
  • Assessment guidelines
  • Candidate registration
  • Payment options
historically speaking 2004
Historically speaking – 2004
  • Long Term A (category 1) [minimum 12 credits]
  • Long Term B [minimum 15 credits]
  • Long Term C [minimum 30 credits]
  • Friendly Societies [minimum 15 credits]
  • Short Term Personal [minimum 15 credits]
  • Short Term Commercial [minimum 30 credits]
  • Pension Fund Benefits [minimum 30 credits]
  • Retail Fund Benefits [minimum 30 credits]
  • Collective Investments [minimum 30 credits]
  • Health Benefits [minimum 30 credits]
implementation of the project 2007 2009
Implementation of the project 2007 – 2009
  • The INSETA FAIS Fit and Proper Project is being implemented in two phases:
    • Phase 1:
      • National Assessment were conducted in November 2007
    • Phase 2:
      • Curriculum, Learning Material, RPL Tools, National Assessments (June + November 2008/2009)
curriculum development phase two
Curriculum development (Phase two)
  • Designed to assist learner and facilitator by providing structure for teaching and learning processes
  • Each standard divided into four topics based on the unit standards; for example:
  • CATEGORY A: INSURANCE PRODUCT AND FINANCE
    • US 114958 – Market an assistance policy
  • The content of this unit standard should be dealt with in four sections:
    • The sales schedule
    • What is an assistance policy?
    • The sales process for an assistance policy
    • After sales service
rpl tools phase two
RPL tools (Phase two)
  • Designed to allow learner another option to achieve FAIS credits
  • Each tool begins with explanation of all unit standards making up the tool
  • The learner is required to compile and present prescribed evidence that meets the specific outcomes contained in the unit standards
  • Tools cover range, specific outcomes and critical cross field outcomes as contained in the standards
  • Comprehensive marking memoranda also provided for use by the assessor
  • All downloadable from the FAIS website
learning material phase two
Learning material (Phase two)
  • Focus on sound pedagogic principles
  • Developed by experts in the industry
  • Allows the learner to download, print and prepare for the assessment
  • Focus on covering the specific outcomes, assessment criteria, range and critical cross field outcomes contained in the unit standards
  • Contains the following:
    • Introduction to the material
    • Icons used in the material
    • A copy of the standard on which the material is based
    • Learning outcomes to be achieved
    • Learning content (designed to prepare learner for assessment)
    • Learner self-assessment
    • Recommended reading list
    • Glossary of relevant terms
    • Marking memorandum for self-assessment
pilot assessments phase one and two
Pilot assessments (Phase one and two)
  • As per 2007 process; pilot assessments and pilot marking memoranda per assessment category
  • Designed to allow learner opportunity to practice for real assessment
  • Mimics the actual assessment tool closely in terms of content, time allocation and answer sheet
national assessments 2007 2008
National Assessments – 2007/2008
  • 2007:
    • The first National Assessment followed a similar format and process as that done in 2004
    • The various “papers” covered unit standards not covered in 2004
  • 2008:
    • Papers follow same format and process as in 2007
    • Various “papers” cover unit standards not covered in 2007 (barring specific sections e.g. Marine and Transportation where there are no more standards for that section in qualification)
    • The questions designed in the form of case studies with a multiple choice selection
    • The content of the case studies will assess – in a rigorous and responsible way – knowledge, cognitive skills, analytical skills, logical thought, etc.
    • Educational integrity underpins the design of the assessments
categories 2007 08 first round second round
Categories 2007/08 (First Round + Second Round)
  • Category A: LONG TERM CATEGORY A
    • Candidates may elect to write any combination of sections within this assessment, in order to fulfill their personal outstanding credit requirement.
    • The assessment consisted of:
      • Section 1 – Law
      • Section 2 – Ethics and Customer Care
      • Section 3 – Insurance Product and Finance
  • Learners are FAIS compliant after one sitting i.e. 30 credits minimum
categories 2007 08 first round second round11
Categories 2007/08 (First Round + Second Round)
  • Category B 1:SHORT TERM PERSONAL LINES, LONG TERM CATEGORY B
    • Candidates may elect to write any combination of sections within this assessment, in order to fulfill their personal outstanding credit requirement.
    • Candidates must not answer more than three questions.
    • The assessment will consist of:
    • Section 1 – Question 1 – Law and Ethics
    • Section 2 – Question 2 – General Cluster
    • Section 3 – Candidates may select to answer full questions from the two electives below i.e. the whole of 3 and/or 4
    • Question – 3 – Short Term Personal Lines

and/or

    • Question – 4 – Long Term Category B
  • Learners are FAIS compliant after one sitting i.e. 30 credits
categories 2007 08 first round
Categories 2007/08 (First Round)
  • Category B 2: SHORT TERM COMMERCIAL LINES
    • Candidates may elect to write any combination of sections within this assessment, in order to fulfill their personal outstanding credit requirement. Candidates must not answer more than three questions.
    • The assessment will consist of:
      • Section 1 – Question 1 – Law and Ethics
      • Section 2 – Question 2 – General Cluster
      • Section 3 – Candidates may select to answer full questions from the four electives below i.e. the whole of 3 and/or 4 etc.:
      • Question – 3 – Marine and Transportation

and/or

      • Question – 4 – Agriculture

and/or

      • Question – 5 – General Commercial Insurance

and/or

      • Question – 6 – General Business Insurance
  • Learners are FAIS compliant after two sittings i.e. 60 credits
categories 2007 08 second round
Categories 2007/08 (Second Round)
  • Category B 2: SHORT TERM COMMERCIAL LINES
    • Candidates may elect to write any combination of sections within this assessment, in order to fulfill their personal outstanding credit requirement. Candidates must not answer more than three questions.
    • The assessment will consist of:
      • Section 1 – Question 1 – Law and Ethics
      • Section 2 – Question 2 – General Cluster
      • Section 3 – Candidates may select to answer full questions from the four electives below i.e. the whole of 3 and/or 4 etc.:
      • Question – 3 – Marine and Transportation

and/or

      • Question – 4 – Agriculture

and/or

      • Question – 5 – General Commercial Insurance

and/or

      • Question – 6 – General Business Insurance
      • Question – 7 – Engineering Insurance
  • Learners are FAIS compliant after two sittings i.e. 60 credits
categories 2007 08 first round second round14
Categories 2007/08 (First Round + Second Round)
  • Category C: LONG TERM CAT C, PENSION FUNDS, RETAIL PENSION BENEFITS, COLLECTIVE INVESTMENTS, HEALTH SERVICE BENEFITS
  • Candidates may elect to write any combination of sections within this assessment, in order to fulfill their personal outstanding credit requirement. Candidates must not answer more than three questions.
  • The assessment will consist of:
      • Section 1 – Question 1 – Ethics
      • Section 2 – Question 2 – General Cluster
      • Section 3 – Candidates may select to answer full questions from the five electives below i.e. the whole of 3 and/or 4 etc.:
      • Question – 3 – Financial Planning

and/or

      • Question – 4 – Pension Fund Benefits

and/or

      • Question – 5 – Retail Pension Benefits

and/or

      • Question – 6 – Health Services Benefits

and/or

      • Question – 7 – Collective Investments
  • Learners are FAIS compliant after two sittings i.e. 60 credits
assessment times
Assessment times
  • First Round – Saturday 21st June 2008 – 9:00 – 12:00
  • Second Round – Saturday 21st June 2008 – 14:00 – 17:00
  • Visit the IMFUNDO FAIS website:

www.inseta.org.za and follow the link to the IMFUNDO FAIS Assessment site

assessment guidelines
Assessment guidelines
  • Candidates who have not written any assessment before must write First Round (Saturday morning)
  • Candidates completed 2007 November assessment must write Second Round (Saturday afternoon)
  • Should candidates have been declared “not yet competent” (NYC) in any section in November 2007, they will be required to re-write that section in the First Round (Saturday morning session)
  • Should they wish to attain additional credits, they can then sit the Second Round assessment in the afternoon
  • Candidates who wish to sit both sessions (First and Second Round) will be allowed to do so
candidate registration
Candidate registration
  • Registration form to be completed online and faxed to 011 326 4073
  • Closing date 02 June 2008
  • Once registered:
    • Administrative procedures
    • Examination permit
payment options
Payment options
  • Fee – R1066 (incl. VAT)
  • Online payments
  • Direct deposits