Certificate in Financial Mathematics - DOC

							                                        CONCESSION

                                                   FOR

          COMMUNICATION, FINANCIAL LITERACY
                 AND MATHEMATICS

                                     NQF LEVEL 2 – 4




Concession for Communication, Financial Literacy and Mathematics. Revision 4   February 2010   1
INSETA: Concession for Communication, Financial Literacy and Mathematics
against a South African School Leaving Certificate/Matriculation Certificate/National
Senior Certificate

Competence in the language of business, English, in the Insurance and Investment
Industry, is essential if learners are to demonstrate competence in the Unit Standards
towards achieving Insurance and Investment Qualifications. The need for literacy and
numeracy skills is indicated in Workplace Skills Plans, Sector Skills Research as well as
being fundamental to NQF Qualifications.

To enable learning towards achieving its qualifications INSETA will allow a concession in
recognition of prior learning to learners:

     Who hold a South African School Leaving Certificate (Grade 12, Standard 10,
      National Senior Certificate) and
     Are already employed in the insurance and investment industry or are registered for
      any learning/skills programme based on Unit Standards registered on the NQF and
      learning towards a full qualification or completing a learnership with INSETA.
     N – Qualifications will be evaluated on application by learner

Learners working towards one of the INSETA Qualifications or Learnerships may apply for
concession for Communication, Financial Literacy and/or Mathematics based on the
results of their South African School Leaving/Matriculation Certificate.

Concessions may only be granted against Unit Standards that form part of an INSETA
Qualification, based on the results of the South African School Leaving or Matriculation
Certificate with a pass.

It should be noted that a full pass in Matric is required for this concession, as indicated
below:

     Symbol A to D.

         Achievement               Achievement Description                           Marks %
            Level
              A               Outstanding Achievement                          80 – 100
              B               Meritorious Achievement                          70 – 79
              C               Substantial Achievement                          60 – 69
              D               Adequate Achievement                             50 – 59
              E               Achieved                                         40 - 49

     Achievement Level 4 – 7.

         Achievement               Achievement Description                           Marks %
            Level
              7               Outstanding Achievement                          80 – 100
              6               Meritorious Achievement                          70 – 79
              5               Substantial Achievement                          60 – 69
              4               Adequate Achievement                             50 – 59
              5               Achieved                                         40 - 49



Concession for Communication, Financial Literacy and Mathematics. Revision 4       February 2010   2
Any foreign Matric or other foreign qualification will have to be evaluated by SAQA for
equivalence to the South African Standard prior to INSETA accepting such qualification or
application. The process of SAQA will have to be followed and adhered to.

Updated INSETA Qualifications for which concession will be granted to learners
who meet the minimum requirements are available on the INSETA website
www.inseta.org.za and the SAQA website on www.saqa.org.za.

Note that:

           Learners who do not meet the required conditions for concession against the
            fundamental unit standards, are required to be trained and assessed for
            competence against the Fundamental Unit Standards at the Level of the
            Qualification.
           If a learner is competent in Communication, Financial Literacy and/or
            Mathematics at Level 4 it is assumed that the learner is also competent at
            Levels 2 and 3.
           A learner may therefore receive credits towards the Communications, Financial
            literacy and/or Mathematics fundamentals at Level 2 or 3 as well as Level 4
            based on the results indicated on the South African School Leaving/National
            Senior Certificate/Matriculation Certificate.
           Only certified copies of the original South African School Leaving/National
            Senior Certificate/Matriculation Certificate will be accepted as evidence of prior
            learning for the purpose of this concession.


Conditions for the awarding of RPL against a South African School Leaving/National
Senior Certificate/Matriculation Certificate.

           Mathematics (Level 2, 3 and 4)

            Learners who passed Mathematics as a subject in Grade 12 may be granted 16
            credits through concession against the Mathematical Fundamental Unit
            Standards at Levels 2, 3 and 4.

            Note: Functional Maths, Business Maths, Commercial Arithmetic and all other
            variations cannot be used for credit purposes.

           Communication in the Language of Business: English (required at the
            level of the qualification).

            Learners who passed English as a subject in Grade 12 may be granted 20
            credits through concession against the Communication Unit Standards at Levels
            2, 3 and 4.




Concession for Communication, Financial Literacy and Mathematics. Revision 4   February 2010     3
           Communication in an additional South African Language (20 credits at
            level of the qualification).

            Learners who passed an additional South African Language other than the
            language of business (English) as a First, Second or Third Language as a
            subject in Grade 12 may be granted 20 credits through concession against the
            Communication Unit Standards required as a Second Language at Level 3.
            The following are recognised as South African Languages:

             Sepedi (North Sotho), Sesotho, Setswana, siSwati, Tshivenda,
             Xitsonga, Afrikaans, isiNdebele, isiXhosa, isiZulu and sign language.


           Financial Literacy Levels 2, 3 and 4

            Learners who passed Business Economics or Bookkeeping or Accounting as a
            subject in Grade 12 may be granted 12 credits through concession against the
            Financial Literacy Unit Standards at Level 2, 3 or 4.

           Business Economics Unit Standards (10385 and 10386)

            Learners who passed Business Economics as a subject in Grade 12 may be
            granted credits through concession against Unit Standards 10385 and 10386.

Policy for Learners embarking on learnerships or learning/skills programmes

It is the responsibility of the provider and the employer to ensure that learners entering
learnerships and/or learning/skills programmes are sufficiently competent in the
Language of Business to enable them to complete the learnership or learning/skills
programme in the allotted time.

Foreign School Leaving Qualifications

This concession does not apply to learners who completed their schooling outside of the
Republic of South Africa.
Learners with foreign school leaving qualifications are required to be assessed for
competence against the compulsory Communication and Mathematical Unit Standards at
the Level of the Qualification or have their certificates evaluated by SAQA for South
African equivalence before concession can be considered.

Process to be followed in requesting concession against a South African School
Leaving/ Matriculation Certificate: -




Concession for Communication, Financial Literacy and Mathematics. Revision 4   February 2010   4
Providers

     Learners may apply to accredited INSETA Providers for concession for
      the Communication, Financial Literacy and Mathematical Fundamental Unit
      Standards.
     Providers may appoint (in writing) and train an INSETA registered Assessor to
      receive and check applications for approval for the Communications, Financial
      Literacy and Mathematical unit standards against the original South African School
      Leaving/Matriculation Certificate.
     Applications must not be sent to INSETA for approval but credits must be included on
      the NLRD Upload Forms and must form part of the Portfolio of Evidence, following a
      verification approval by INSETA at the verification visit.
     Original concession forms, Certified copies of supporting documentation and
      approvals are to be kept by the Provider for audit purposes.
     Providers are required (within the mandate given by INSETA) to access the
      SETA Management System (SMS) to upload the appropriate credits.
     The INSETA ETQA will audit the uploading of credits from time to time on-site.

Learners are required to:

Submit to the provider to whom they are applying for concession the following: -

       A completed application form
       A certified copy of the Matric results
       A certified copy of the RSA ID Document or Passport
       A certified copy of marriage/divorce papers where applicable

The Provider’s appointed Assessor is required to:

       Check the copies of all Certificates and supporting documents to establish validity
        and authenticity.
       Check the application form for completeness.
       Indicate the Unit Standards to be credited to the learner against the School
        Leaving/Matriculation Certificate and complete the signed declaration on the form
        for each individual learner.
       File all documents for ETQA verification and audit purposes and in line with the
        provider’s policy and procedure for safe storage.

Reviews

Relevant Unit standards will be updated on the concession application form annually or
when the need arises. (See Application Form)

This guideline may be reviewed on an annual basis or as and when the need for a review
is necessary.

The reviewed documents will be placed on the INSETA website.




Concession for Communication, Financial Literacy and Mathematics. Revision 4   February 2010   5