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					Title :                      Demonstrate Basic Forex Transactions And Forex Conversions
Standard :TS08                          Level : 4                    Credits : 4
Purpose :                    Each person should recommend ways of taking money overseas according to the
                             customer’s requirements. He/she should also have a basic knowledge of how
                             FOREX works.

Learning Assumptions : None

SPECIFIC OUTCOMES
Embedded knowledge and Critical cross-field outcomes have been included within the specific outcomes category. This has been done as it
was deemed necessary to ensure holistic assessment occurred. The specific outcomes can be applied in a range of contexts. Many of the
outcomes have been written in such a way that competence must be demonstrated in the context as opposed to in isolation from a context. The
specific outcomes are comparable to outcomes used internationally. We therefore structured outcomes using the format noun + verb +
condition (modifying phrase)

Specific outcomes have been split into three categories
          a) knowledge and understanding (what the learner must know and understand)
          b) decision-making and acting (what the learner must do)
          c) adapting performance ( including reflexive competence)

In many instances there are more than six specific outcomes, as the inclusion of critical cross-field outcomes and embedded knowledge has
increased the number of specific outcomes. If competencies are to be clustered in a meaningful way, then these unit standards cannot be split.
Demonstrated KNOWLEDGE and UNDERSTANDING :
1. State the current South African foreign travel allowance.
2. Describe travel declarations and passport endorsements and explain the reasons behind these.
3. Explain the procedure for obtaining traveller’s cheques (requirements, time limits, etc.) and the costs
   associated with the use and redemption of travellers cheques.
4. Explain the terms ROA, BBR and BSR.
5. Describe TT, Bank drafts, EFT, Travellers cheques and cash as methods of taking foreign currency,
   and distinguish them from each other in terms of advantages and disadvantages.
6. Explain time limits with regard to purchases and sale of foreign currency.

Demonstrated ability to make DECISIONS about practice and to ACT accordingly.
7. Given specific countries, identify the appropriate foreign currency used.
8. Convert ZAR to foreign currency using the applicable Bank Exchange Rate table.
9. Complete a specimen of a travel declaration and a passport endorsement, to a specified standard.
10.Convert foreign currency to ZAR using the applicable Bank Exchange Rate table.
11.Describe other ways the customer can access funds in other countries including the use of ATMs and
   credit cards


Assessment Criteria :
The assessor must :
1. Arrange or create environments in which the learner can be fairly assessed against the outcomes.
    There are no restrictions on where this unit standard may be assessed.
2. Evaluate the learner’s ability to meet the outcomes.
    This unit can be assessed by a combination of observation, questioning, case studies and
       testimonies from third parties.
3. Provide specific feedback to the learner on assessments and the learner’s ability to meet the
   outcomes.
4. Complete the declaration of competence and inform the appropriate ETQA once the learner has
   demonstrated the ability to meet all the outcomes.
5. Counsel the learner on future assessments, necessary learning and further qualifications.

Accreditation / Moderation
1. Anyone assessing a learner against this unit standard must be registered as an assessor with the
   relevant ETQA.
2. Any institution offering learning that will enable achievement of this unit standard must be registered
   with the FE/HE Registrar.
3. Any institution wishing to receive skill development grants must be accredited with the relevant
   ETQA. Such an institution will also be registered with the relevant SETA.
4. Moderation of assessment will be done by the relevant ETQA at its discretion.


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Notes
1. Essential embedded knowledge is dealt with under the specific outcomes section where
   “demonstrated KNOWLEDGE and UNDERSTANDING” is required.
2. Range statements are included with specific outcomes as necessary.
3. The following critical cross-field outcomes are covered in this unit standard under the specific
   outcomes section. They are not assessed directly, but are assessed holistically through the outcomes
   as indicated.
    Collect, analyse and evaluate information
    Identify and solve problems

Recommendations and Exemplars for the design of :

Learning / Curriculum
 Practise actual conversions and calculated basic charges for buying and selling ZAR.
Performance systems
 Accurate conversion in this area is critical




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posted:8/23/2011
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