SAQA All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.
SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD THAT HAS PASSED THE END DATE: 

Describe the sales function in a Collective Investment Scheme Manager 
SAQA US ID UNIT STANDARD TITLE
12180  Describe the sales function in a Collective Investment Scheme Manager 
ORIGINATOR
SGB Financial Services 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Finance, Economics and Accounting 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 4  NQF Level 04  4 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Passed the End Date -
Status was "Reregistered" 		 2004-12-02  2007-02-21  SAQA 1657/04 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2008-02-21   2011-02-21  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This unit standard is replaced by: 
US ID Unit Standard Title Pre-2009 NQF Level NQF Level Credits Replacement Status
243151  Describe the sales function in a Collective Investment Scheme Manager or Linked Investment Service Provider (Lisp)  Level 4  NQF Level 04  4   
243155  Demonstrate knowledge and insight into the Collective Investment Schemes Control Act, 45 of 2002 (CISCA)  Level 4  NQF Level 04  2   

PURPOSE OF THE UNIT STANDARD 
This Unit Standard introduces the sales function as it applies to collective investment scheme portfolios. It deals with the knowledge and skill needed to understand and manage relationships and service levels with financial advisors and investors.

The qualifying learner is capable of:
  • Understanding the different sales functions in the collective investment industry.
  • Describing the sales function and related service levels of a financial advisor.
  • Describing the sales function and related service levels of an institutional sales person.
  • Understanding the role of the marketing or research division within a Collective Investment Scheme Manager. 
    		•

    LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    There is open access to this unit standard. Learners should be competent in Communication, Mathematical Literacy and Financial Literacy at NQF Level 3. 

    UNIT STANDARD RANGE 
    The typical scope of this unit standard is the wholesale and retail markets. 

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Demonstrate knowledge and understanding of the different sales functions in the unit trust industry. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. The different sales functions are listed and classified in terms of whether they are aimed at the retail or wholesale market. 

    ASSESSMENT CRITERION 2 
    2. The wholesale market is described giving a profile of an institutional investor. 

    ASSESSMENT CRITERION 3 
    3. The retail market is described giving a profile of a smaller investor. 

    SPECIFIC OUTCOME 2 
    Describe the function and related service levels of a broker. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. Role of a broker is explained with an indication of his/her responsibilities to his/her client base and the management company. 

    ASSESSMENT CRITERION 2 
    2. Role of a broker consultant is explained and an indication given of the relationship between the broker consultant and the management company. 

    ASSESSMENT CRITERION 3 
    3. The process followed by a broker in the sale of a unit trust is investigated and a report is written based on an interview with a broker. 

    ASSESSMENT CRITERION 4 
    4. The elements involved in the servicing of a broker by a broker consultant are investigated in an interview with a broker consultant and a presentation is made indicating ways in which service levels could be improved on the part of the management company. 

    SPECIFIC OUTCOME 3 
    Describe the functions and related service levels of an institutional sales person. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. The concept of an institutional sales person is explained with an indication of his/her client base. 

    ASSESSMENT CRITERION 2 
    2. The way in which service levels are agreed is explained with reference to institutional investors or independent financial broker businesses. 

    ASSESSMENT CRITERION 3 
    3. The process in establishing agreed service levels is outlined for a contract with a particular institutional investor. 

    ASSESSMENT CRITERION 4 
    4. The kind of service provided to an institutional investor is explained in terms of monitoring quality, providing financial records and resolving problems. 

    ASSESSMENT CRITERION 5 
    5. Ways in which an institutional sales person manages his/her relationship with the institutional investor are demonstrated including presentations of technical financial information, field enquiries and providing a tailored information service. 

    SPECIFIC OUTCOME 4 
    Demonstrate knowledge and understanding of the role of a marketing or research division 
    OUTCOME NOTES 
    Demonstrate knowledge and understanding of the role of a marketing or research division within a management company. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. The role of a marketing or research division is described in terms of value added to a sales force. 

    ASSESSMENT CRITERION 2 
    2. The activities of a marketing or research division are investigated and an assessment made of the value of each activity to the sales force. 

    ASSESSMENT CRITERION 3 
    3. Advertisements and other promotional material are analysed in terms of effectiveness and the message that it conveys to the public about a management company. 

    ASSESSMENT CRITERION 4 
    4. Health warnings on advertisements and other promotional materials are assessed in terms of compliance with the AUT advertising standard. 

    SPECIFIC OUTCOME 5 
    Demonstrate knowledge and understanding of the different sales functions. 
    OUTCOME NOTES 
    Demonstrate knowledge and understanding of the different sales functions in the collective investment industry. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. The different sales functions are listed and classified in terms of whether they are aimed at the retail or wholesale market. 

    ASSESSMENT CRITERION 2 
    2. The wholesale market is described with reference to a profile of an institutional investor. 

    ASSESSMENT CRITERION 3 
    3. The retail market is described with reference to a profile of a smaller investor. 

    SPECIFIC OUTCOME 6 
    Describe the function and related service levels of a financial advisor. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. The role of a financial advisor is explained and an indication is given of his/her responsibilities to his/her investor base and the Collective Investment Scheme Manager. 

    ASSESSMENT CRITERION 2 
    2. The role of a broker consultant is explained and an indication given of the relationship between the broker consultant and the Collective Investment Scheme Manager. 

    ASSESSMENT CRITERION 3 
    3. A financial advisor is interviewed and the process followed by a financial advisor in the sale of participatory interest in a collective investment scheme portfolio is reported in writing. 

    ASSESSMENT CRITERION 4 
    4. A broker consultant is interviewed and the elements involved in servicing a financial advisor by a broker consultant presented with an indication of ways in which service levels could be improved on the part of the Collective Investment Scheme Manager. 

    SPECIFIC OUTCOME 7 
    Describe the functions and related service levels of an institutional sales person. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. The role of an institutional sales person is explained with examples. 

    ASSESSMENT CRITERION 2 
    2. The way in which service levels are agreed is explained with reference to institutional investors or investment managers. 

    ASSESSMENT CRITERION 3 
    3. The process in establishing agreed service levels is outlined for a contract with a particular institutional investor. 

    ASSESSMENT CRITERION 4 
    4. The kind of service provided to an institutional investor is explained in terms of monitoring quality, providing financial records and resolving problems. 

    ASSESSMENT CRITERION 5 
    5. Ways in which an institutional sales person manages his/her relationship with the institutional investor are demonstrated in a presentation with reference to technical financial information, field enquiries and providing a tailored information service. 

    SPECIFIC OUTCOME 8 
    Demonstrate knowledge and understanding of the role of a marketing or research division. 
    OUTCOME NOTES 
    Demonstrate knowledge and understanding of the role of a marketing or research division within a Collective Investment Scheme Manager. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. The role of a marketing or research division is described in terms of value added to a sales force. 

    ASSESSMENT CRITERION 2 
    2. The activities of a marketing or research division are investigated and an assessment made of the value of each activity to the sales force. 

    ASSESSMENT CRITERION 3 
    3. Advertisements and other promotional material are analysed in terms of effectiveness and the message that it conveys to the public about a Collective Investment Scheme Manager. 

    ASSESSMENT CRITERION 4 
    4. Mandatory disclosures on advertisements and other promotional materials are assessed in terms of compliance with the ACI advertising standard. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
    This unit standard will be internally assessed by the provider and moderated by a moderator registered by INSQA or a relevant accredited ETQA. The mechanisms and requirements for moderation are contained in the document obtainable from INSQA, INSQA framework for assessment and moderation. 

    UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
    N/A 

    UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Learners can identify and solve problems in which responses show that responsible decisions using critical and creative thinking have been made in investigating how service levels can be improved and analysing promotional material for compliance. 

    UNIT STANDARD CCFO WORKING 
    Learners can work effectively with others as a member of a team, group, organisation or community in investigating the servicing of financial advisors and demonstrating how to manage a relationship with an institutional investor. 

    UNIT STANDARD CCFO ORGANISING 
    Learners can organise and manage self and own activities responsibly and effectively in arranging interviews and completing the information gathering and assessment activities required in this unit standard. 

    UNIT STANDARD CCFO COLLECTING 
    Collect, organise and critically evaluate information in assessing ways in which service levels could be improved, promotional material and mandatory disclosures. 

    UNIT STANDARD CCFO COMMUNICATING 
    Communicate effectively using visual, mathematics and language skills in the modes of oral and/or written presentations in demonstrating ways in which an institutional sales person manages his/her relationship with the institutional investor and writing a report on service levels. 

    UNIT STANDARD CCFO DEMONSTRATING 
    Demonstrate an understanding of the world as a set of related systems by assessing the effectiveness of promotional material and the message it conveys about the Collective Investment Scheme Manager. 

    UNIT STANDARD CCFO CONTRIBUTING 
    Explore education and career opportunities by investigating the roles of financial advisor, broker consultant and institutional sales force person. 

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    UNIT STANDARD NOTES 
    This unit standard has been replaced by unit standard 243151, which is "Describe the sales function in a Collective Investment Scheme Manager or Linked Investment Service Provider (Lisp)", level 4, 4 credits. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Core  20638   National Certificate: Collective Investment Schemes  Level 4  NQF Level 04  Passed the End Date -
    Status was "Registered"     		 2004-12-05  INSETA 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    NONE 


    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.