insurance qualifications equivalence matrix for recognition ... - INSETA

INSURANCE QUALIFICATIONS EQUIVALENCEMATRIX FOR RECOGNITION OF PRIORLEARNINGIf you cannot find your qualification or have anyqueries, please contact Outlearning on (011) 461 0627for clarification, or e-mail info@outlearning.co.za1. PREAMBLEa) BackgroundSparked by the Financial Advisory and Intermediary Services (FAIS) Act(2002), specifically its Fit and Proper Determination that was gazetted on 12September 2003, the Insurance Sector Education and Training Authority(INSETA) commissioned Outlearning (Pty) Ltd to conduct a QualificationsEquivalence Mapping exercise.The aim of this project was to determine the status of all historical and currentformal qualifications available to industry practitioners and to create anequivalence map between these qualifications and the unit standards thathave been generated for the insurance sector.Conducted between 11 September 2003 and 10 November 2003, a total of132 qualifications that relate to the insurance industry were mapped to unitstandards and published as a matrix.This pioneering initiative by INSETA is, arguably, a world-first and wasinspired by a determination to provide support and assistance to industrystakeholders.Cognisant of the fact that the promulgation of similar legislation contributed tomajor drawbacks in the financial advisory and financial services sector inEngland and Australia, where many practitioners were forced to leave theindustry, the compilation of an equivalence mapping tool is bound to proveextremely beneficial to South African insurance-industry stakeholders.However, to guarantee currency, there is a need to regularly update thebaseline document produced as new qualifications and/or providers areaccredited, and new unit standards are written.b) PhilosophyThe underlining philosophy that guided the entire project was the need tocreate a user-friendly Qualifications Equivalence Matrix that not only

incorporated insurance-specific qualifications but broad-based banking andfinancial qualifications that have relevance to the financial advisory sector.There was also the need to ensure inclusivity so that all sectors – rangingfrom Short-Term Insurance to Health to Collective Investments – wereincorporated.To guarantee the impartiality of the entire process, Outlearning, anindependent company specialising in research, was contracted to conduct theequivalence mapping. Outlearning strove to ensure that in embracing theprinciple of inclusivity, adequate pathways were created for PreviouslyDisadvantaged Individuals (PDIs) who may not have met the entry-levelstipulations of Fit and Proper. The once-off RPL assessment (to be conductedfrom 28 February 2004 to 6 March 2004 – except 29/02/04) represents onesuch pathway for all stakeholders that may not satisfy the minimum legislatedrequirements.To further assist insurance industry practitioners and in anticipation of amultitude of queries, Outlearning will also operate a Call Centre that will becontactable at either of the following numbers:(011) 461-0627; or,(011) 461-0624Finally, there was also the need to ensure that the end-product was aligned toall SAQA (South African Qualifications Authority) rules, regulations andrequirements. Consequently, the Equivalence Matrix was subject to anexhaustive and stringent quality assurance and audit process that wasoverseen by an INSQA team led by Shirley Steenekamp, Manager of theInsurance Sector Quality Authority (INSQA)c) Practical ImplicationsAs far as could be ascertained, the methodology* adopted by Outlearningwould have identified all existing industry-related qualifications. If this was notachieved, the matrix could be expanded to include valid qualifications.It is also highly recommended that all industry practitioners undertake nextyear’s RPL assessment for any of the following considerations:• to obtain the minimum entry-level qualification of 12 or 30 credits• to update and refresh existing knowledge• to obtain an additional 12 or 30 credits towards the eventual 30 or 60required in Column 4 within the next two or three years.Ultimately, though, practitioners who do not take advantage of theopportunities for compliance which are made available to them, will not beallowed to practise as financial advisers, especially if they are Key Individuals.

* Outlearning’s methodology included:- Working with key role-players such as the Financial ServicesBoard, Insurance Institute of South Africa and FinancialPlanning Institute to compile a listing of formal qualifications- Advertisements (run over three weeks) in the Sunday Times andSaturday Star inviting information regarding relevantqualifications- Use of the Financial Planning Institute’s database to extractrelevant qualifications for inclusion in the Equivalence Mappingexercise- Alignment of all qualifications with existing unit standards- Presentation of a draft matrix to industry stakeholders forcomment and, where necessary, a concomitant review of thematrix.- Sign-off from all parties.d) Factors Guiding Certain DecisionsHistorical qualifications proved difficult to align with existing unit standards – incertain instances, unit standards that cover all training within the sector havenot yet been written.In some cases, special dispensation was granted by INSQA as provided forby SAQA requirements.The disappearance of many tertiary institutions from the South Africaneducational landscape or their merger with other institutions also impacted onthe Equivalence Mapping process.Short-courses and in-house training provided by insurance companies wereexcluded from the process. International qualifications were also excludedbecause they proved difficult or impossible to map. In recognising thesedifficulties, SAQA has established a Centre for Evaluation of EducationalQualifications (CEEQ) to deal exclusively with overseas qualifications andtheir mapping against the South African National Qualifications Framework.Applications for the mapping of international qualifications will be entertainedon their individual merit, and the process can be initiated by visiting the SAQAwebsite at www.saqa.org.za. In the top right hand corner of the home page, amenu item labelled : “Evaluation of Foreign Qualifications” will lead to adownload page with the necessary information and application forms. Pleasenote that the CEEQ division of SAQA does not entertain telephonic or e-mailapplications.Public queries pertaining to qualifications are to be directed to Outlearning atthe aforementioned Call Centre numbers or, by email, to:info@outlearning.co.za

It must be remembered, though, that the final responsibility for decisionsrelating to the validity of qualifications rests with the FSB, and not withINSETA or Outlearning.Industry practitioners need to bear in mind that they will no longer be allowedto operate in the financial advisory sector without formal qualifications anddue attention needs to be focussed on this aspect of their professional lives.2. STATEMENT BY THE INSURANCE SECTOR QUALITYAUTHORITY (INSQA)SAQA has accredited the Insurance Sector Quality Authority (INSQA) ashaving the capacity to perform quality assurance in the Insurancesector.INSQA has been accredited by SAQA to accredit providers ofInsurance-specific full qualifications and short learning programmesbased on either unit standards-based qualifications and/or non-unitstandards-based qualifications.The short courses and/or skills programmes indicated with an*(asterisk) fall into the category of short courses which are accreditedby INSQA, as per the paragraphs above.Short Courses that provide credits towards registered unit standards andqualifications require quality assurance. Regulation of short courseprovisioning is only needed where this may have an impact on the award ofcredits towards particular unit standards and qualifications.All short course providers have been referred to INSQA to be accredited.INSQA has been accredited by SAQA to accredit short courses offeredthrough, by and for the Insurance Industry.Short course provisioning is used to describe the type of provisioning which isconsidered to be short learning programmes, including what are known asshort courses and skills programmes.INSQA accredits providers as having the capacity to provide education andtraining against specified unit standards and qualifications.A credit-bearing short course is a short training programme for which creditsin relation to its contribution to a particular programme, unit standard and/or(part) qualification, are awarded. A credit-bearing short course contains lessthan 120 credits.

A short learning programme focuses on a particular part of a qualification which mayinclude learning in the fundamental or core or elective areas (or a combinationthereof), but will not lead to the achievement of the full qualification.3. QUALIFICATIONS EQUIVALENCE MAPIf you cannot find your qualification or have anyqueries, please contact Outlearning on (011) 461 0627for clarification or e-mail info@outlearning.co.zaGuide to the use of the Document and its Interpretation• Scroll down the left hand column and find the name of the Institutionwhich issued your qualification e.g. The Insurance Institute of SA.• Find the specific qualification in column 2, e.g. Certificate of Proficiency(CoP) in Short-term Insurance.• Go to Column 4 (SAQA Equivalence) and see if any equivalencecredits have been granted.• Please note that industry association memberships are not seen as aQualification. For instance, if you are an Associate Financial Planner(AFP) or Registered Financial Planner (RFP) member of the FPI, yourqualification will be the underlying tertiary qualification OR havingpassed all the required examinations pertaining to the membershipconditions.The same applies to International memberships of professionalbodies, for instance the ACII and FCII which are administered by theCII. In the case of the CII qualifications, the IISA (Insurance Institute ofSouth Africa) can assist in mapping the CII qualifications against IISAqualifications. For enquiries regarding CII, ACII and FCII, ContactHelena Barry at 011 274 8400.• B Com Degrees and Financially related PostgraduateDiplomas/Certificates issued by Universities and Technikons are givenblanket coverage in the first 2 sections of the Equivalence Tables.Validity of tertiary qualifications is a policy decision made by the FSBand all enquiries should be directed to them (Warren Neale of theFinancial Services Board on 012 428 8000). Please note thatincomplete tertiary qualifications e.g. where only the first year subjectsof a three year degree/diploma have been passed, will not be awardedany credits.

Qualifications issued by International bodies with a presence outside SouthAfrica, have been mapped as far as possible. SAQA (The South AfricanQualifications Authority) has a specialist department, the Centre for theEvaluation of Educational Qualifications (CEEQ) tasked with the evaluation ofoverseas qualifications with the aim of giving them levels of recognition in theSouth African context. Applications for the mapping of internationalqualifications will be entertained on their individual merit, and the process canbe initiated by visiting the SAQA website at www.saqa.org.za. In the top righthand corner of the home page, a menu item labelled : “Evaluation of ForeignQualifications” will lead to a download page with the necessary informationand application forms. Please note that the CEEQ division of SAQA does notentertain telephonic or e-mail applications.• If a Financial Advisor has been granted dispensation for certainmodules which constitute part of any of the full IISA qualifications, theFinancial Advisor is entitled to the credits allocated in the EquivalenceMatrix.• Short workshops or seminars are NOT eligible for credits. Thesecourses are presently classified as Continuous ProfessionalDevelopment. However, if these courses are based on registered NQFunit standards and assessments are done, the appropriate credits willbe awarded.• In-house and product-specific courses historically delivered byInsurance Companies are NOT eligible for credits. Where current inhousetraining is aligned to NQF Qualifications and Unit Standards,and NQF credits have been achieved, these credits will be valid for thepurposes of licensing.

Existing Insurance- related Qualifications in South Africa:AccreditationInstituteAll TertiaryAcademicInstitutions whichare accreditedwith the Councilon HigherEducation wherethe coursecontent isdirectlyapplicable to theFinancialServices IndustryQualification/ModuleB Com Degrees Including:B Com HRMB Com General ManagementB Com MarketingB Com BankingB Com BookkeepingB Com EconomicsB Com StatisticsB Com AccountingB Com Management AccountingB Com Financial ManagementB Com LawB Com Industrial PsychologyB Com Personnel ManagementB Com Systems ManagementB Com Business EconomicsB Com Applied InvestmentManagementB Com Sports ManagementB Com InformaticsB Com Information SystemsB Com Information TechnologyB Com Computer ScienceB Com Agricultural EconomicsB Com AuditingB Com Supply ChainManagementB Com Logistics and PurchasingmanagementB Com EducationB Com EconometricsB Com TaxationB Com Tourism ManagementB Com CommunicationB Com Transport EconomicsCourse Code orSAQA NLRDNumberSAQAEquivalence- See RemarksOutcomes /RemarksTheseQualifications willbe accepted in fullby the FSB tosatisfy the ColumnFour conditions ofthe Fit and Properrequirements in theFAIS Act . Forinformation phoneWarren Neale ofthe FinancialServices Board on012 428 8000

AccreditationInstituteAll TertiaryAcademicInstitutions whichare accreditedwith the Councilon HigherEducation wherethe coursecontent is NOTdirectlyapplicable to theFinancialServices Industry(See remarks inColumn 5).Qualification/ModuleB Com Actuarial ScienceB Com Institutional InvestmentsB Com Public & DevelopmentManagementB Com Quantitative DecisionMakingB Com Financial JournalismB Com Real Estate ManagementB Com Risk ManagementB Com TransportB Com Local GovernmentAccountingB Com TeachingB Com InsuranceB Com Investment ManagementB Comm Fin AccountingB ComptB Business Science - ActuarialMasters Degree in BusinessAdministrationM Com and D Com DegreesB AccBEcon (Stellenbosch)CACFP (UOVS)B Sc Actuarial ScienceMBA, PDM, MBL, MDPMA in Economics/DevEconomicsMA Development FinanceLLB, B Proc, B JurisB Sc Stats & MathematicsB LCB Sc Degrees (Other)B Soc degreesB Admin DegreesAll other Bachelors DegreesMB BchBCurDegrees/Diplomas in MarketingDegrees/Diplomas in Nursing,Midwifery and PsychologyNational Diploma in ProductionManagementCourse Code orSAQA NLRDNumber-SAQAEquivalenceConditions Apply.See RemarksOutcomes /RemarksDispensations willbe awarded by theFSB on conditionthat thequalificationcontains subjectsrelated to theFinancial ServicesIndustry.APPROPRIATEsubjects include:AccountingStatisticsEconomics,Micro/MacroEconomicsEconometrix

AccreditationInstituteQualification/ModuleAll other Degrees, Diplomas andPost Graduate Diplomasincluding business relatedqualifications from variousbusiness schools which includefinancial subjects in theircurricula.These include NationalCertificates and Diplomas issuedby Technical Colleges andTechnikonsCourse Code orSAQA NLRDNumberSAQAEquivalenceOutcomes /RemarksFinancialAccountingFinancial AnalysisFinancialManagementFinancial PlanningFinancialReportingFinancial RiskManagementInternationalFinanceInvestmentManagementPersonal FinancialManagementQualitativeModellingReal EstateValuationIn-house Various in-house CertificatesTraining courseshistoricallysupplied byinsurancecompanies orother shortcourses andworkshopsIn HouseTrainingcurrently alignedto NQFQualificationsAcademy ofFinancialMarketsAcademy ofFinancialMarketsAcademy ofFinancialMarkets-None – SeeRemarksNQF Credits achieved - -National Diploma - FinancialMarkets and InstrumentsNational Higher Diploma -Financial Markets andInstrumentsAdvanced Post GraduateDiploma in Financial PlanningNLRD24314NLRD24316-240 Credits atNQF 6240 Credits atNQF 7120 Credits atNQF 8These courses arenot seen asQualifications butrather asContinuingProfessionalDevelopment.The once-offassessment inMarch 2004 willvalidate thesetraininginterventions. Forinformation on theassessment, visitINSETA’s Websitewww.inseta.org.zaCredits valid forpurposes oflicensingAccreditedProvider Bankseta557022AccreditedProvider Bankseta557022Accredited throughUniversity of theFree State

AccreditationInstituteQualification/ModuleCourse Code orSAQA NLRDNumberSAQAEquivalenceOutcomes /RemarksAfrica Centre forAttendanceInvestmentAnalysis (ACIA) Various short Courses - - Certificates . Shortcourses only, notfull QualificationsAIISANot a Qualification but amembership designation-See IISA Diplomain InsuranceEntry requirementis the IISA Diplomain InsuranceAmericanInstitute forCPCUAssociation ofAccountingTechnicians(AAT)Program in General Insurance(INS)See Global AccountingProficiency (GAP)INS 21INS 22INS 23ACII –Associateship ofthe CharteredInsuranceInstituteACII -See IISA CoP1010,1030,1050IISA will awardDispensation.Telephone:011 274 8400- - See GAP240 Credits atNQF 6Equivalent to IISADiploma inInsurance.Association forInvestmentManagementand Research(AIMR)CFA (Chartered FinancialAnalyst)- -Beaufort Institute Various short courses - No CreditsBoston CityCampusBoston CityCampus* Unit Trust Investments AUT1 + AUT2National Certificate in CollectiveInvestment SchemesNLRD2063852 Credits atNQF 3 and 4120 Credits atNQF4InternationalPostgraduateCharteredQualificationApply to SAQA fordispensationAttendancecourses onlyBoth must becompleted toobtain credits-Botswana CoP CoP Life Insurance -CAIBCertificated Associate of theInstitute ofInstitute of Bankers of SouthBankers of SouthAfricaAfricaCIBM(CharteredInstitute ofBusinessManagement)CIBMCertificate: CorporateGovernanceBCom: Corporate Governance-NLRD20374NLRDSee IISA CoP1050240 Credits atNQF6120 Credits atNQF 5360 Credits atNQF 6See IISAWill be issued ifthe applicant hassuccessfullycompleted anAdvanced Diplomathrough the IOBSimilar to ICSAqualificationsSimilar to ICSAqualifications

AccreditationInstituteCIMACIMACFP (CertifiedFinancialPlanner)CII (CharteredInsuranceInstitute UK)CII (CharteredInsuranceInstitute UK)CII (CharteredInsuranceInstitute UK)CII (CharteredInsuranceInstitute UK)CII (CharteredInsuranceInstitute UK)CII (CharteredInsuranceInstitute UK)Qualification/ModuleCertificate in BusinessAccountingDiploma in ManagementAccountingCourse Code orSAQA NLRDNumberNLRD24418NLRD24406SAQAEquivalence120 Credits atNQF5240 Credits atNQF6See University of the Free State - -Insurance Foundation Certificate - Contact IISACertificate of Insurance Practice - Contact IISAFinancial Planning Certificate - Contact IISAAdvanced Financial PlanningCertificateInternational Certificate forFinancial Advisors- Contact IISA- Contact IISADiploma in Insurance (New) - Contact IISACII (CharteredInsuranceInstitute UK) ACII and FCII -See ACII and FCIIrespectivelyOutcomes /Remarks--Membership only.Underpinningqualification is thePostgraduateDiploma inFinancial Planningfrom the Universityof the Free State.IISA will awardDispensation.Telephone:011 274 8400IISA will awardDispensation.Telephone:011 274 8400IISA will awardDispensation.Telephone:011 274 8400IISA will awardDispensation.Telephone:011 274 8400IISA will awardDispensation.Telephone:011 274 8400IISA will awardDispensation.Telephone:011 274 8400Equivalent to IISADiploma andAdvanced DiplomaCII (CharteredInsuranceInstitute UK)Advanced Diploma in Insurance(New)- Contact IISAIISA will awardDispensation.Telephone:011 274 8400CIS (CharteredInstitute ofSecretaries) CIS - See ICSAReplaced byCertificate/Diplomain CorporateGovernance

AccreditationInstituteCollege ofFinancialServicesQualification/ModulePost Graduate Diploma inFinancial PlanningCourse Code orSAQA NLRDNumberNLRD21183SAQAEquivalence120 Credits atNQF 7Outcomes /RemarksDispensationthrough Universityof the Free State.Linked to FPIassociateshipstructuresDamelinAcademy ofBankingDamelin Certificate in FinancialProductsNLRD21166120 Credits atNQF 4-DamelinAcademy ofBankingDamelinAcademy ofBankingDamelinAcademy ofBankingDamelinDamelinAcademy ofBankingNational Higher Certificate :Financial PlanningNational Diploma in FinancialPlanningPost Graduate Diploma inFinancial PlanningDiploma in BusinessmanagementPost Graduate AdvancedDiploma in Financial PlanningDamelin InstituteSee Institute of Certifiedof CertifiedBookkeepersBookkeepersExecutiveEducationHigher Diploma inBusiness AdministrationNLRD21181NLRD21173NLRD21183-NLRD21182160 Credits atNQF 5260 Credits atNQF 5120 Credits atNQF 7110 Credits atNQF 6120 Credits atNQF 7- -NLRD36048390 Credits atNQF6---Valid for olderDiplomas.Presentlyredesigned at 120Credits.-See Institute ofCertifiedBookkeepers-FCII See CII -FIISAFPIIBS(Institute ofBusinessStudies)Not a Qualifications but amembership designationSee College of FinancialServices and Universityof the Free StateDiploma in BusinessAdministration120 Credits atNQF 7Equivalent to IISAAdvanced Diploma-Entry requirementSee IISAis the IISAAdvanced DiplomaAdvanced Diplomain Insurancein InsuranceSee College of- -Financial Servicesand Universityof the Free StateNLRD 20365120 Credits atNQF 3-IBS(Institute ofBusinessStudies)Higher Diploma in BusinessAdministrationNLRD20357120 Credits atNQF 4-

AccreditationInstituteQualification/ModuleCourse Code orSAQA NLRDNumberSAQAEquivalenceOutcomes /RemarksGlobalAccountingProficiency(GAP)Accounting TechnicianQualificationICSA(Institute ofChartered Intermediate CertificateSecretaries and CISAdministrators ofSouth AfricaICSAICSANLRD20402CIS -CIS(ACIS)-NLRD20395174 Credits atNQF 5120 Credits atNQF 5120 Credits atNQF 6120 Credits atNQF 7Fully aligned to theAAT ProgrammePertinent to CISgraduates whowere issued withthe IntermediateCertificatePertinent to CISgraduates whomdo not meet thenecessaryminimumexperientialrequirements to beawarded the ACISBachelor ofCommerce :HonoursCorporateGovernanceICSAICSACIS(FCIS)Postgraduate Diploma :Strategic Management,Corporate GovernanceNLRD20396NLRD20394120 Credits atNQF 8120 Credits atNQF 7Master ofCommerce:CorporateGovernanceCourse alsoadministered byUNISAILPA See University of the Free State -120 Credits atNQF 7Equivalent toDiploma inFinancial Planningissued by theUniversity of theFree State

AccreditationInstituteQualification/ModuleCourse Code orSAQA NLRDNumberSAQAEquivalenceOutcomes /RemarksILPAILPA (Pre 2000)Life DisciplineInvestment PlanningRetirement PlanningEstate PlanningBusiness AssurancePensions DisciplineFund ConstitutionFund FinancingBenefit StructuresPersonal Financial PlanningHealth DisciplineHealth DeliveryHealth FinancingHealth Law & TaxPersonal Financial Planning-Each modulesuccessfullycompleted undereach discipline will-carry30 Credits atNQF 7ILPA (NewSpecialistTracks)See University of the Free State -120 Credits atNQF 8Equivalent to theAdvanced PostGraduate Diplomain FinancialPlanning.Info Logic (Pty)Ltd* CoP Health Care -12 Credits atNQF 4(Also satisfies 12Credits at NQF 2needed for LongTerm InsuranceCategory A)-IISA (InsuranceInstitute of SouthAfrica )IISA (InsuranceInstitute of SouthAfrica )* Certificate ofProficiency(CoP )Short Term InsuranceRetirement FundsLife Insurance* Certificate ofProficiency(CoP )Short Term InsuranceRetirement FundsLife Insurance10101030105010111031105212 Credits atNQF 4(Also satisfies 12Credits at NQF 2needed for LongTerm InsuranceCategory A)17 Credits19 Credits17 CreditsChanges made forlatest credits onCOP

IISA Life Intermediaries Certificate -12 Credits atNQF4Replaced by theCoP and carriessame creditsAccreditationInstituteQualification/ModuleCourse Code orSAQA NLRDNumberSAQAEquivalenceOutcomes /RemarksIISA* Intermediate Certificate inBusiness Studies - Complete (allnecessary subjects)ICiBS70 Credits atNQF 4Certificate madeup of 3 Businesssubjects and oneTechnical electiveIntermediate Certificate inBusiness StudiesIISABusiness Subjects,Business CommunicationBusiness CalculationsBusiness OrganisationTechnical SubjectsShort Term Insurance IIRetirement Funds IILife Insurance II21152121213122002300260024 Credits atNQF 416 Credits atNQF 415 Credits atNQF 415 Credits atNQF 415 Credits atNQF 415 Credits atNQF 4Credits will becumulative for allsubjects passedIntermediate Certificate inBusiness StudiesIISAIISABusiness Subjects,Business CommunicationBusiness CalculationsBusiness OrganisationTechnical SubjectsShort Term Insurance IIRetirement Funds IILife Insurance IIHigher Certificate in InsuranceFull Qualification211521212131220123012601NLRD2041124 Credits atNQF 416 Credits atNQF 415 Credits atNQF 426 Credits atNQF 424Credits atNQF 425 Credits atNQF 4120 Credits atNQF 5Credits will becumulative for allsubjects passedLatest update onnew credits forICiBSFull qualificationcomprises 5subjects passedfor the electedspecialisation e.g.Short TermInsurance

AccreditationInstituteQualification/ModuleCourse Code orSAQA NLRDNumberSAQAEquivalenceOutcomes /RemarksHigher Certificate in InsuranceIISAShort Term InsuranceLegal FrameworkPersonal InsuranceCommercial InsuranceMarine & Aviation InsuranceReinsuranceRisk Management31113130314031603170318024 Credits atNQF 524 Credits atNQF 524 Credits atNQF 524 Credits atNQF 524 Credits atNQF 524 Credits atNQF 5Credits will becumulative for allsubjects passedHigher Certificate in InsuranceIISARetirement Fund ManagementLegal FrameworkFund AdministrationBenefit DesignFund FinancingInvestment Management3210322032303240325124 Credits atNQF 524 Credits atNQF 524 Credits atNQF 524 Credits atNQF 524 Credits atNQF 5Credits will becumulative for allsubjects passedHigher Certificate in InsuranceIISALife Insurance MarketingLegal FrameworkEstate planningRetirement PlanningBusiness (Life) InsuranceInvestment Management3310332033303350325124 Credits atNQF 524 Credits atNQF 524 Credits atNQF 524 Credits atNQF 524 Credits atNQF 5Credits will becumulative for allsubjects passed

AccreditationInstituteQualification/ModuleCourse Code orSAQA NLRDNumberSAQAEquivalenceOutcomes /RemarksHigher Certificate in InsuranceIISALife Insurance ServicingLegal FrameworkUnderwritingClaimsHealth InsuranceInvestment ManagementHigher Certificate in Insurance3410342034303460325124 Credits atNQF 524 Credits atNQF 524 Credits atNQF 524 Credits atNQF 524 Credits atNQF 5Credits will becumulative for allsubjects passedIISALoss AdjustingReport Writing IPrinciples of Loss Adjusting3610362024 Credits atNQF 524 Credits atNQF 5Credits will becumulative for allsubjects passedIISADiploma in InsuranceFull DiplomaNLRD20412240 Credits atNQF 6Full Qualificationcomprises 5subjectsDiploma in InsuranceIISACompulsory SubjectsRisk & InsurancePrinciples of Life InsuranceShort Term Insurance40104020403024 Credits atlevel 624 Credits atlevel 624 Credits atlevel 6Credits will becumulative for allsubjects passed

AccreditationInstituteQualification/ModuleCourse Code orSAQA NLRDNumberSAQAEquivalenceOutcomes /RemarksDiploma in InsuranceIISAElectivesInterruption InsuranceLiability InsuranceMotor InsuranceProperty Insurance IProperty Insurance IILife Insurance PracticeRetirement and Related BenefitsLife Insurance SalesReinsuranceInsurance BrokingReport Writing II Loss Adjusters4120414141714180419043304340435044304440451024 Credits atlevel 624 Credits atlevel 624 Credits atlevel 624 Credits atlevel 624 Credits atlevel 624 Credits atlevel 624 Credits atlevel 624 Credits atlevel 624 Credits atlevel 624 Credits atlevel 624 Credits atlevel 6Credits will becumulative for allsubjects passedIISAAdvanced Diploma in InsuranceManagementFull QualificationAdvanced Diploma in InsuranceManagementNLRD20351120 Credits atNQF 7Qualificationcomprises 5subjects.Dissertationrequired forFellowshipIISACompulsory SubjectsManagement FundamentalsFinance and Management AccsBusiness EnvironmentAdvanced Diploma in InsuranceManagement50105020503024 Credits atNQF724 Credits atNQF724 Credits atNQF7Credits will becumulative for allsubjects passedIISAElective SubjectsHuman ResourcesRisk ManagementMarketing Management51105130514024 Credits atNQF724 Credits atNQF724 Credits atNQF7Credits will becumulative for allsubjects passed

AccreditationInstituteQualification/ModuleCourse Code orSAQA NLRDNumberSAQAEquivalenceOutcomes /RemarksIACInstitute ofAdministration andCommerceIAC Diploma -240 Credits atNQF 6M+3 statusawarded by HSRC14 subjects mustbe successfullycompletedIACInstitute ofAdministration andCommerceIAC Higher Certificate -240 Credits atNQF 5M+2 statusawarded by HSRC10 subjects mustbe successfullycompletedIACInstitute ofAdministration andCommerceIAC Intermediate Certificate -120 Credits atNQF 5M+1.5statusawarded by HSRC6 subjects must besuccessfullycompletedIACInstitute ofAdministration andCommerceIAC Preliminary Certificate -120 Credits atNQF 4M+1statusawarded by HSRC14 subjects mustbe successfullycompletedIOB(Institute ofBankers)Certificate in BankingNLRD11541120 Credits atNQF5-IOB(Institute ofBankers)Intermediate Diploma in CreditNLRD20331240 Credits atNQF5-IOB(Institute ofBankers)Diploma in TreasuryManagement and TradeFinancesNLRD20334240 Credits atNQF5-IOB(Institute ofBankers)Diploma in Property FinanceNLRD20333240 Credits atNQF5-

AccreditationInstituteQualification/ModuleCourse Code orSAQA NLRDNumberSAQAEquivalenceOutcomes /RemarksIOB(Institute ofBankers)Diploma in Financial Planning -240 Credits atNQF5Submitted toSAQA forRegistrationIOB(Institute ofBankers)Diploma in Estate and TrustAdministrationNLRD20335240 Credits atNQF5-IOB(Institute ofBankers)Advanced Diploma in FinancialPlanning-240 Credits atNQF6Submitted toSAQA forRegistrationIOB(Institute ofBankers)Advanced Diploma in Estateand Trust Administration-240 Credits atNQF6Submitted toSAQA forRegistrationIOB(Institute ofBankers)Advanced Diploma in TreasuryManagement and TradeFinances-240 Credits atNQF6Submitted toSAQA forRegistrationIOB(Institute ofBankers)Advanced Credit Diploma -240 Credits atNQF6Submitted toSAQA forRegistrationIOB(Institute ofBankers)Advanced Diploma in CentralBanking-240 Credits atNQF6Submitted toSAQA forRegistrationIOB(Institute ofBankers)Advanced Diploma in Estate andTrust Administration-240 Credits atNQF 6Submitted toSAQA forRegistration

AccreditationInstituteQualification/ModuleCourse Code orSAQA NLRDNumberSAQAEquivalenceOutcomes /RemarksInstitute ofCertifiedBookkeepersCertificate: RegisteredAccounting ClerkNLRD20362120 Credits atNQF 3-Institute ofCertifiedBookkeepersCertificate: RegisteredBookkeeperNLRD20363120 Credits atNQF 4-Institute ofCertifiedBookkeepersDiploma: Registered AccountingTechnicianNLRD20364240 Credits atNQF 5-Institute of CreditManagementCertificate inCredit Management-15 Credits atNQF5-INTEC College,IACCertificate: Commerce Cost andManagement AccountingNLRD23614120 Credits atLevel 5-INTEC College,IACHigher Certificate: CommerceCost and ManagementAccountingNLRD23615120 Credits atLevel 5-INTEC College,IACDiploma: Commerce Cost andManagement AccountingNLRD35957120 Credits atLevel 6-INTEC College,IACINTEC College,IACCertificate: Commerce FinancialAccountingHigher Certificate: CommerceFinancial AccountingNLRD23614NLRD23615120 Credits at-Level 5120 Credits atLevel 5 -INTEC College,IACThe Institute ofMarketingManagementDiploma: Commerce FinancialAccountingDiploma in MarketingManagementNLRD35957NLRD24327120 Credits atLevel 6360 Credits atNQF 6-

Diploma in MarketingManagement120CreditsNQF 6Kenyan CoP Certificate of Proficiency - See IISALyceum CollegeAccreditationInstituteCertificate: FinancialManagementQualification/ModuleNLRD24341Course Code orSAQA NLRDNumber120 Credits atNQF 5SAQAEquivalenceDispensationgranted by the IISA-Outcomes /RemarksMauritian CoP Certificate of Proficiency - See IISADispensationgranted by the IISAMalta InternationalApplied Insurance Studies -Training CentreSee CII Cert of DispensationInsurance Practice granted by the IISAMediterraneanInternationalTraining CentreSee Malta International TrainingCentre- -Dispensationgranted by the IISAPort ElizabethTechnikonNational Diploma:ManagementNational DiplomaPersonal Management240 Credits:NQF 6Natal TechnikonBSUSPFPP -120 Credits atNQF 5Under ReviewNatal TechnikonNorth WestUniversityNational Diploma;ManagementLower University DiplomaIn Training240 Credits120 CreditsRand AfrikaansUniversityDiploma: InvestmentManagementNLRD3139240 Credits atNQF 5-South AfricanInstitute ofFinancial Markets(SAIFM)Technikon PretoriaTechnikon S.A.TechnikonWitwatersrandRegistered PersonsExamination(RPE)Marketing and SalesManagementNational DiplomaNational Diploma:MarketingCredit ManagementNational DiplomaNational Higher DiplomaPersonal Management-60 Credits atNQF6240Credits atNQF 6240 Credits240 credits atNQF 6240 CreditsNQF 6Two compulsoryand one electivesubject must bepassed to gain anycredits. Additionalmodules will carry20 credits.

South AfricanInstitute ofFinancial Markets(SAIFMInvestment Advice CertificateIIACMutual FundsFinancial AdviceSavings and InvestmentProducts-20 credits at NQF6 per modulepassedTo gain credits,students must firstpass the full RPEThe CharteredInstitute ofManagementAccountantsPost Graduate Diploma –Chartered managementAccountingNLRD2040060 Credits atNQF6-University ofDurban WestvillePost Graduate Diploma in TaxNLRD2791280 Credits atNQF7-University of theFree State (UOVS)University of theFree State(UOVS)Advanced Post GraduateDiploma in Financial PlanningPost Graduate Diploma inFinancial PlanningNLRD45240NLRD21183120 Credits atNQF 8120 Credits atNQF 7This will serve asthe basequalification for thenew ILPASpecialist Track-AccreditationInstituteQualification/ModuleCourse Code orSAQA NLRDNumberSAQAEquivalenceOutcomes /RemarksPost Graduate Diploma inFinancial Planning :University of theFree State (UOVS)Personal Financial PlanningCorporate Financial PlanningFinancial Planning EnvironmentBoard Assessment / Case Study-30 Credits atNQF 730 Credits atNQF 730 Credits atNQF 730 Credits atNQF 7-University of SouthAfricaUNISAAdvanced Programme in RiskManagement-120 Credits atNQF 7Submitted foraccreditationZimbabwean CoP Certificate of Proficiency - See IISADispensationgranted by the IISAZimbabwe NationalUniversity ofScience andTechnologyB Com, Actuarial Science - -See South AfricanTertiary Institutes.Also credit anddispensationarrangements withIISA

Date : 31 May 2005 Deleted: 2004