Advanced Certificate in Short Term Insurance

Associated Assessment Criteria for Exit Level Outcome 1:

• Knowledge of the legislative framework governing legal liability is applied to explain how legal liability arises in the context of insurance.
• Different types of legal liability are applied to recommend a suitable insurance product as part of a risk financing strategy.

Associated Assessment Criteria for Exit Level Outcome 2:

• Legislation impacting insurance in South Africa is analyzed to determine its impact and scope of application to short-term insurance.
• Regulatory role players in the industry are identified, and their roles and responsibilities are explained.
• Requirements of relevant legislation and compliance requirements are integrated into the business of short-term insurance.
• Understanding of ethical behavior and how ethics inform behavior in short-term insurance practice is demonstrated.
• The relationship between ethics and compliance legislation is examined in client interaction, responsible business practice, and contribution to an ethical business environment.
• Display understanding of typical ethical dilemmas in the industry with reference to possible reactions in such scenarios.

Associated Assessment Criteria for Exit Level Outcome 3:

• Explanation of the risk management process in relation to its role in short-term insurance.
• Explanation of the relationship between risk management and corporate governance.
• Analysis of business operations to identify risks and propose insurance solutions.
• Explanation of the main components of a disaster management plan.

Associated Assessment Criteria for Exit Level Outcome 4:

• Application of knowledge of basic economic principles to identify the impact of economic changes on short-term insurance.
• Analysis of distribution channels for short-term insurance products in South Africa, including the traditional role of brokers and remuneration.
• Analysis of the unique compliance nature of the short-term insurance business environment on traditional management functions.
• Analysis and implementation of the principles of Treating Customers Fairly in a short-term insurance environment.

Associated Assessment Criteria for Exit Level Outcome 5:

• Identification and analysis of risks covered by specific specialized products.
• Application of detailed knowledge of the structure and workings of specific specialized short-term insurance products to make risk financing recommendations.
• Application of knowledge of underwriting and claims processes in the short-term insurance context.

Integrated Assessment:

• Importance of assessment quality for credible certification and recognition of achievement.
• Institution's efforts to ensure credibility in assessment through clear and rigorous procedures.
• Principles of fairness, validity, reliability, and practicability in controlling assessment procedures.
• Assurance of credibility for all parties involved through the implementation of these principles.
• Use of integrated assessment extensively across the qualification, particularly in case studies.
• Self- and formative assessment through case studies, assignments, proposal writing, and project execution.
• Summative assessments integrated into learning at the end of each module of the qualification.