Provide a Standard Investment Solution For

LEARNER ASSESSMENT PACK

Provide a standard investment solution for

a personal banking customer

(7244)

NAME:

ORGANISATION:

COURSE NO:

OR

RPL:

Unit Standard SAQA 8101 – Manage Time and The Work Process Within the Insurance Environment

INDEX

Page No

Instructions to Learner 1

Assignment: Assessment Questionnaire 4

Observation guidelines 9

Declaration of Authenticity 13

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Version 1 – September 2004

Unit Standard SAQA 7244 -Provide a standard investment solution for a personal banking customer.

INSTRUCTIONS TO LEARNER

Purpose of the Assessment:

/ The purpose of assessment against this unit standard is to
award credits on the NQF to learners who are able to:
§  Establish the nature of the customer’s needs
§  Link the customer’s needs to the appropriate product
§  Open the investment account

Context of the Unit Standard

/

This unit standard is registered on the National Qualifications Framework as follows:

Field: / Business, Commerce and Management Studies
Sub-field: / Finance, Economics and Accounting
Number: / 7244
Level: / Level 4
Credits: / 10

Learning Assumptions:

/ Open

Assessment Methods:

/ The following assessment methods will be used for this assessment:
§  Observation - O
§  Questioning - Q
§  Product Sample - PS
§  Testimony - T

Assessment Process:

/ Step 1 – Planning for the Assessment
-  You will need to complete an assessment plan together with your assessor/line supervisor
-  Your assessor will prepare you for your assessment and complete the assessment preparation plan with you
-  Ensure that you are familiar with what is expected of you for this assessment and the unit standard

Assessment Process (Cont):

/ Step 2 – Completing the Assessment
-  This assessment will be completed by means of a Questionnaire detailed on page 4, Observation on page on 9 and Product Sample on page 10.
-  Hand in the questionnaire fully completed as per the instructions by the date agreed on the assessment plan
-  Your assessor may ask you additional questions
-  Your assessor will record the evidence that you have submitted onto the assessment guide
-  Based on this evidence, the assessor will make a judgement of 'Competent' or 'Not Yet Competent' or 'Not Assessed' for each assessment criteria and overall for the total unit standard
Step 3 – After the Assessment
-  If 'Not Assessed' you and the assessor will agree on the criteria not assessed and arrange an additional assessment date
-  If 'Not Yet Competent' you and the assessor will identify why this judgement has been made and the action/s necessary. A re-assessment date should also be agreed upon
-  All decisions will be recorded on the assessment guide, which all parties should sign
-  You will only be declared 'Competent' if you have provided sufficient and valid evidence against all the assessment criteria and specific outcomes of this unit standard
-  After declaration of competence, your assessment is subject to the internal moderation process
-  Once this is complete, your results will be entered onto SAQA's NLRD – National Learner Record Database

Special Conditions:

/ -  The declaration of authenticity on page 13 must be signed by your manager, your assessor and yourself to certify that the evidence is authentic and that this has been applied in your workplace
-  Feedback on your assessment will be given to you by your Line Manager/Assessor

Resources:

/ The following additional/supporting resources will help you when preparing for your assessment:

Resource

/ Reference / Available From
Access to the relevant computer system(s)
Access to staff training guides and other process guidelines
Access to policies and procedures
Access to the Code of Banking Practice

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Version 1 – September 2004

Unit Standard SAQA 7244 -Provide a standard investment solution for a personal banking customer.

Section 1: QUESTIONING

Introduction:

The following questions comprise the Knowledge Assessment for Unit Standard 7244.They represent the theoretical component of the evaluation and they test your understanding of the different work activities. You must answer all the questions in full and write in the spaces provided. The mark allocation is a guide to the number of factors being evaluated per question.

As the learner you must:

§  Write all your answers in the space below the questions.

§  Ensure that you have answered all the questions.

§  Ensure that you have answered the questions in full.

QUESTIONNAIRE

SPECIFIC OUTCOME 1: Establish the nature of the customer’s needs.

Question 1: List 5 different types of standard investment accounts/products

______

______

______

______

______

______

(5)

Question 2: Before recommending an investment solution for the client, provide 6 examples of the information you would gather from the client in order to establish the purpose and extent of the proposed investment and the period and nature of the investment

______

______

______

______

QUESTIONNAIRE (Cont)

______

______

______

______

(6)

SPECIFIC OUTCOME 1: Establish the nature of the customer’s needs (cont).

Question 3: In trying to understand the customers’ needs in terms of access to their invested funds and/or interest, list 6 factors that need to be considered in order to help identify the period and nature of the investment?

______

______

______

______

(6)

SPECIFIC OUTCOME 2: Link the customer’s needs to the appropriate product.

Question 4: List 3 additional product options that may be used, depending on the needs of the client

______

______

______

(3)

Question 5: A) Provide 4 examples of critical requirements that need to be considered before matching the client’s requirements with the range of appropriate investment products

______

______

______

______

(4)

QUESTIONNAIRE (Cont)

B) Provide two examples of bank policy that governs the matching of customer requirements with investment options.

______

______

______

(2)

Question 6: Describe the 5 specific features and 2 benefits of a Call deposit account.

______

______

______

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______

(7)

Question 7: Provide 2 different ways a Fixed deposit account and a Notice Deposit account can benefit a customer, so that the client can make an informed decision

______

______

______

(4)

Question 8: Provide an example of a penalty for early withdrawal of a Notice deposit account

______

______

______

(2)

QUESTIONNAIRE (Cont)

SPECIFIC OUTCOME 3: Open the investment account.

Question 9: Provide 5 examples of terms and conditions for operating a notice deposit account

______

______

______

______

______

(5)

Question 10: Provide 4 examples of documents that need to be collected, completed

and verified before processing according to bank procedures

______

______

______

______

(4)

Question 11: Where is the customer contact recorded according to bank policy?

______

______

(1)

Question 12: List 3 bank procedures that need to be completed when processing a

deposit into an investment account and arranging client access to the account, in line with banking policy and customer requirements?

______

______

______

______

(3)

QUESTIONNAIRE (Cont)

SPECIFIC OUTCOME 3: Open the investment account (cont.).

Question 13: What process is followed with regard to the documentation once the transaction is completed?

______

______

(1)

TOTAL FOR SECTION 1 (For Assessor Use Only) / 53

Section 2: OBSERVATION

Introduction

The Observation Assessment represents the physical gathering of information in the workplace. In this section your assessor will observe and evaluate you completing actual work tasks. These tasks correspond with the Unit Standard requirements and should be performed at your workstation or within your familiar working environment. The assessor will complete a checklist for each action and allocate a tick or cross in the space provided indicating whether you have successfully completed the task/s or not. You will be assessed only once per assessment criterion.

(For Assessor Use Only)

SECTION 2: OBSERVATION ASSESSMENT

QUESTION NO / DID THE LEARNER / √ / X
SPECIFIC OUTCOME 1: Establish the nature of the customer’s needs
SPECIFIC OUTCOME 2: Link the customer’s needs to the appropriate product
SPECIFIC OUTCOME 3: Open the account
1. / Establish and identify through discussion with the customer:
§  The customer’s specific requirements?
§  Confirm the customer’s specific requirements
§  Inform the customer of the range of additional products which may be used
§  Determine that the customer’s requirements are matched to the appropriate product
2. / Explain the specific features of the products to the customer in line with the Code of Banking Practice to enable the customer to make an informed decision?
(Print the applicable sections from the Product reference guide of the range of product features that were explained to the customer. Include the printouts with your portfolio of evidence)
3. / Deal with the customer in a polite manner, and in such a way to ensure that concerns are addressed to the customer’s satisfaction and according the bank policy?
Explain terms and conditions for operating the account in such a way that the customer had a clear understanding of such terms and conditions?
4. / Check and review the customer’s choice that was linked to the expressed need as required by bank policy?
The learner must achieve a tick in ALL of the questions in order to be rated at COMPETENT / C / NYC
RESULT FOR SECTION 2 (For Assessor Use Only)

Section 3: Product Sample

Introduction:

The Product Sample represents physical evidence or proof of work completed. You will be required to submit actual evidence of work completed in full. This evidence provides your assessor with material proof of you having completed certain work activities required for this assessment. In some cases it may be a system generated print-out or a customer’s statement or a copy of an ID document, in others it may be a number of documents that would normally be collected as proof of a work task completed for filing or data capturing.

(For Assessor Use Only)

SECTION 3: PRODUCT SAMPLE CHECKLIST

QUESTION NO / DID THE LEARNER / √ / X
SPECIFIC OUTCOME 3: Open the account
1.
2. / If the supervisor is also the assessor- submit all the collected/completed/signed/verified documentation of the investment product sale as part of the portfolio of evidence for assessment:
A) The listed documents include where applicable:
§  The application form(s)
§  The mandates, if applicable
§  Terms and conditions
§  Service standards checklist
§  Printouts from the system/annexure file as evidence of
notes made, capture details, funds deposited etc.
§  FAIS and FICA documents
§  Any written advices from the client
§  Other relevant documentation
B) Ensure that the documents are correctly completed and
verified, where necessary, in accordance with:
§  Bank policy/procedures/guidelines and processes
§  The Code of Banking Practice
§  Other current legislation including FAIS and FICA
C) Record the client contact correctly according to the bank’s
policy-copy of system entry/printout as evidence
D) Ensure that access to the account was arranged correctly
and in line with banking procedure and customer
requirements- copy of system entry/ printout as evidence
If the supervisor is not the assessor, submit all the collected/completed/signed and verified documentation with your portfolio of evidence for assessment.
Also, request your supervisor to provide you with a signed letter which must accompany your documents that confirms the following:
A)  That the listed documents (letter to list the relevant documents) include, where applicable:
§  The application form(s)
§  The mandates, if applicable
§  Terms and conditions
§  Service standards checklist
§  Printouts from the system/annexure file, as evidence of notes made, and/or capture details, funds deposited etc.
§  FAIS and FICA documents
§  Any written advices from the client
§  Other relevant documentation
B)  Confirmation that the documents are signed, correctly completed and verified, where necessary, in accordance with:
§  Bank policy/procedures/guidelines and processes
§  The Code of Banking Practice
§  Other current legislation, including FAIS and FICA
C) Record the client contact correctly according to the bank’s
policy-copy of system entry/printout as evidence
D) Ensure that access to the account was arranged correctly
and in line with banking procedure and customer
requirements- copy of system entry/ printout as evidence
The learner must achieve a tick in ALL of the questions to be rated at COMPETENT / C / NYC
RESULT FOR SECTION 3 (For Assessor Use Only)
ASSESSOR COMMENTS:
ASSESSOR SIGNATURE: DATE:

DECLARATION OF AUTHENTICITY

We the undersigned hereby declare that ______has completed all of the specified requirements for assessment against this unit standard.

SIGNED: ______

LEARNER: ______

DESIGNATION: ______

DATE: ______

SIGNED: ______

LINE SUPERVISOR: ______

DESIGNATION: ______

DATE: ______

SIGNED: ______

ASSESSOR: ______

DESIGNATION: ______

DATE: ______

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Version 1 – September 2004