Class 5: Short-Term and Long-Term Deposits

R575.00

Category:

Description

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 CONTENTS

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;

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