FAIS Fit and Proper · Background • Project rationale: • Afford new entrants opportunity to...

transcript

FAIS Fit and ProperWorking together for a skilled tomorrow

Presentation overview

• A reminder of our objectives

• 2007

• 2008• 2008

• A look at the categories

• Questions

A reminder of our objectives

Background

• Project rationale:• Afford new entrants opportunity to gain credits

towards FAIS compliance

• Those that have credits from 2004 – could gain additional credits

• To standardise summative assessment• To standardise summative assessment

• A solution to the sector

Assessment tool development process

• Industry subject matter expertsto form part of assessment team

• Under scrutiny of IIE QA processes

and systems (adhere to CHE, UMALUSI

and INSETA assessment practices)and INSETA assessment practices)

• Develop a suite of assessment instruments for categories A,B,C and electives

• Format of assessments to facilitate ease of

application while maintaining academic rigour

Assessment Logistics

• National Head of Fit and

Proper Examinations

• National Exam Logistics Team

• Regional Exam Logistics Coordinators

• National Marking Centre

• National Call Centre

• Exam centers country wide (to be agreed with

INSETA) – to be leveraged off existing

infrastructure where appropriate

Quality Assurance Roleplayers

• INSETA

• IIE

• Industry experts to develop and moderate

Historically speaking : 2004

• Long Term A (category 1) [minimum 12 credits]

• Long Term B [minimum 15 credits]

• Long Term C [minimum 30 credits]

• Friendly Societies [minimum 15 credits]

• Short Term Personal [minimum 15 credits]

• Short Term Commercial [minimum 30 credits]• Short Term Commercial [minimum 30 credits]

• Pension Fund Benefits [minimum 30 credits]

• Retail Fund Benefits [minimum 30 credits]

• Collective Investments [minimum 30 credits]

• Health Benefits [minimum 30 credits]

Implementation of the project 2007-9

• The INSETA FAIS Fit and

Proper Project is being implemented

in two phases:

• Phase 1: • Phase 1:

• National Assessments were conducted in November 2007

• Phase 2:

• Curriculum, Learning Material, RPL Tools, National Assessments

(June + November 2008/2009)

20072007

National Assessments - 2007

• 2007:• The first National Assessment followed a similar

format and process as that done in 2004

• The various “papers” covered unit standards notcovered in 2004

Geographic Representation 07

INSETA FAIS ACTIVITY PER PROVINCE

Province Town Total 2007

Western Cape Cape Town 63

Eastern Cape: Port Elizabeth 46

Northern Cape Kimberley 1

Kwa Zulu Natal Durban 237

Free State Bloemfontein 5

Northern Province Polokwane 13

North West Province Klerksdorp 4

Mpumalanga Nelspruit 4

Gauteng: Sandton 211

Pretoria 20

Grand Total 604

Results ‘07

• Overall 550 candidates

completed assessments• CAT A - 32 candidates

• CAT B1 - 172 candidates

• CAT B2 - 226 candidates• CAT B2 - 226 candidates

• CAT C - 120 candidates

Overall pass rate ‘07

20082008

National Assessments – 2008

• 2008:• Papers follow same format and process as in 2007

• Various second round “papers” cover unit standards notcovered in 2007

• The questions designed in the form of case studies with a multiple choice selectionmultiple choice selection

• The content of the case studies will assess – in a rigorous and responsible way – knowledge, cognitive skills, analyticalskills, logical thought, etc.

• Educational integrity underpins the design of the assessments

Enrolment Profile

• 3392 total enrolments as follows:• Blacks – 2404

• White – 520

• Coloured – 400

• Indian – 68

Category A

No. of Students

CAT A First Round 455

Section 1, Ethics and Customer Care 453

Section 2, Law 455

Section 3, Insurance Product + Finance 455

CAT A Second Round 8

Section 1, Ethics and Customer Care 8

Section 2, Law 8

Section 3, Insurance Product + Finance 8

Category B1

No. of Students

CAT B1 First Round 445

Section 1, Law and Ethics 433

Section 2, General Cluster 432

Section 3, Short Term Personal Lines 280 63%

Section 3, Short Term Personal Lines 280

Section 4, Section 4, Long Term - Category B 167

CAT B1 Second Round 163

Section 3, Short Term Personal Lines 75

Section 4, Section 4, Long Term - Category B 86

Category B2

No. of Students

CAT B2 First Round 348

Section 3, Marine and Transportation 29

Section 4, Agriculture 7

Section 5, General Commercial Insurance 228

Section 6, General Business Insurance 96

CAT B2 Second Round 241

Section 7, Engineering 6

Category C

No. of Students

CAT C First Round 582

Section 1, Ethics 564

Section 3, Financial Planning 417

Section 4, Pension Fund 44

Section 5, Retail Pension Benefits 40

Section 7, Collective Investments 38

CAT C Second Round 189

Section 7, Collective Investments 25

Overall pass rate ‘08

Success Stories

Category A

ID Number Ethics and Customer Care % Law %

Insurance Product +

Finance % Total %

4003155124084 76 68 84 76

4112270124083 88 68 72 76

4505285048082 92 80 88 87

4601185118081 92 72 76 80

4604225029086 76 64 80 74

4609175159080 80 84 96 87

4712110522089 80 76 64 74

Success Stories

Category B2 Commercial Lines

ID Number Law and

Ethics %

General

Cluster %

Marine and

Transportation %

General

Commercial

Insurance %

General

Business

Insurance %

Total %

4105135101080 63 63 66 64

4105315088081 75 72 66 71

4203255003085 83 72 69 754203255003085 83 72 69 75

4209235084087 89 72 46 69

4411030109081 83 80 72 79

4501045137083 60 83 66 70

4701280102087 60 60

4705045095086 89 75 55 73

Success Stories

Category C

ID Number Ethics %

General

Cluster %

Financial

Planning %

Pension

Fund %

Retail

Pension

Benefits %

Health

Services

Benefits %

Collective

Investments % Total %

3308135010084 63 70 60 65

3412135060089 70 73 98 81

3707245009086 73 78 78 773707245009086 73 78 78 77

3903305076087 53 45 45 48

4010060032088 53 50 65 56

4012045079085 78 85 93 86

4106235428084 65 50 58

A look at the categories

Categories 2007/08(First Round + Second Round)

• Category A: Long term category A• Candidates may elect to write any combination of

sections within this assessment, in order to fulfill their personal outstanding credit requirement

• The assessment consisted of:

• Section 1 – Law• Section 1 – Law

• Section 2 – Ethics and Customer Care

• Section 3 – Insurance Product and Finance

• Learners are FAIS compliant after onesitting i.e. 30 credits minimum

• Category B1: Short term personal

lines, long term category B• Candidates may elect to write any combination of sections

within this assessment, in order to fulfill their personal outstanding credit requirement

• Candidates must not answer more than three questions• Candidates must not answer more than three questions

• The assessment will consist of:

• Section 1 – Law and Ethics

• Section 2 – General Cluster

• Elective – Candidates may select

to answer full questions from the two

electives below i.e. the whole of 3 and/or 4• Section 3 – Short Term Personal Lines

and/orand/or

• Section 4 – Long Term Category B

• Learners are FAIS compliant after onesitting i.e. 30 credits

Categories 2007/08(First Round)

• Category B2: Short term commercial lines • Candidates may elect to write any combination of sections

within this assessment, in order to fulfill their personal outstanding credit requirement. Candidates must not answer more than three questions

• The assessment will consist of:• The assessment will consist of:

Categories 2007/08(First Round)

• Category B2: Short term commercial lines • Elective – Candidates may select to answer full questions

from the four electives below i.e. the whole of 3 and/or 4 etc.:

and/or

• Section 3 – General Commercial Insurance

and/orand/or

• Section 4 – General Business Insurance

• Learners are FAIS compliant after twosittings i.e. 60 credits

Categories 2007/08(Second Round)

• Category B2: Short term commercial lines• Candidates may elect to write any combination of sections

within this assessment, in order to fulfill their personal outstanding credit requirement. Candidates must not answer more than three questions.

• The assessment will consist of:• The assessment will consist of:

Categories 2007/08(Second Round)

• Category B2: Short term commercial lines• Elective – Candidates may select to answer full questions

from the four electives below i.e. the whole of 3 and/or 4 etc.:

• Section 3 – Marine and Transportation and/or

• Section 4 – Agriculture and/or

• Section 5 – General Commercial Insurance and/or• Section 5 – General Commercial Insurance and/or

• Section 6 – General Business Insurance

• Section 7 – Engineering Insurance

• Learners are FAIS compliant after twosittings i.e. 60 credits

• Category C: Long term Cat C, pension

funds, retail pension benefits, collective

investments, health service benefits• Candidates may elect to write any combination of sections

within this assessment, in order to fulfill their personal within this assessment, in order to fulfill their personal outstanding credit requirement. Candidates must not answer more than three questions

• The assessment will consist of:

• Section 1 – Question 1 – Ethics

• Section 2 – Question 2 – General Cluster

• Category C: Long term Cat C, pension

funds, retail pension benefits, collective

investments, health service benefits• Elective – Candidates may select to answer full questions

from the five electives below i.e. the whole of 3 and/or 4 etc.:from the five electives below i.e. the whole of 3 and/or 4 etc.:

• Section 3 – Financial Planning and/or

• Section 4 – Pension Fund Benefits and/or

• Section 5 – Retail Pension Benefits and/or

• Section 6 – Health Services Benefits and/or

• Section 7 – Collective Investments

• Learners are FAIS compliant after two sittings i.e. 60 credits

Candidate registration

• Registration form to be completed

online and faxed to (011) 326 4073

• Telephonic enquiries call (011) 886 0042

• Website

Payment options

• Online payments

• Direct deposits

Questions?

FAIS Fit and Proper · Background • Project rationale: • Afford new entrants opportunity to...

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