COURSE DESCRIPTION
- Learners have access to their course material for 180 days from date of enrolment , thus are able to complete their study preperation at their lesure. (Self-Paced)
- Online assessment (2 multiple choice exam attempts included.)
NQF Level 3 courses
NQF levels are intended to award registered learners with national accreditation based on their skills and knowledge. NQF 3 is equivalent to Grade 11 or Standard 9, and is often a stepping stone to NQF 4 and beyond.
NQF Level 4 courses
NQF levels are intended to award registered learners with national accreditation based on their skills and knowledge. NQF 4 is equivalent to Grade 12 or Standard 10 (Matric), and is a FET – Further Education and Training – category qualification.
NQF Level 5 courses
NQF levels are intended to award registered learners with national accreditation based on their skills and knowledge. NQF 5 is a National Certificate or National Diploma and is a HET – Higher Education and Training – category qualification
NQF Level 6 courses
NQF levels are intended to award registered learners with national accreditation based on their skills and knowledge. NQF 6 is a Bachelors Degree or Higher Diplomaand is a HET – Higher Education and Training – category qualification.
COURSE CONTENT
Unit 1 – Analyse the needs and motivation of an organisation in establishing a retirement fund
Calculate interest on a deposit
- Explain how interest rates are calculated on deposits
- Explain the difference between nominal and effective interest rates
- Discuss the difference between nominal and effective interest rates
Communicate pricing, fees and commissions to clients
- Discuss the difference between pricing, fees and commissions
- Explain the relevant pricing relevant to each product category
- Explain the relevant fees relevant to each product category
- Explain the relevant commission relevant to each product category
Communicate the various investment product options to the client in relation to deposits
- Explain the difference between a bank deposit and deposits in the form of investments
- List the types of generic investment products available in relation to deposits
- Discuss the benefits of using a generic investment product in relation to a deposit product
- Discuss under which circumstances a generic investment product will be more suitable for a client
Communicate the different deposit product categories to the client
- Identify the various deposit product categories (e.g. savings, transaction & investments)
- Discuss these various deposit product categories in terms of
- Features
- Benefits
- Product rules
Adhere to the requirements of the specific code of conduct for short-term deposit business
- Discuss the requirements of the Code in terms of
- Unsolicited contacting of clients
- General duties of the provider
- Contractual terms and conditions
- Duties regarding furnishing advice to clients
- Details on account operation
- Confidentiality and privacy
- Advertising
- Complaint resolution processes
- Waiver of rights.
Apply your understanding of the South African financial and economic context in relation to the product category
- Discuss the following
- The origins of money, banking and the banking system (including the national payment system and money creation)
- Explain the interest rate trends in the South African economy in relation to the deposit product
- Explain what interest rates are
- Discuss why it is important when giving advice on deposit products
