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Education
Saturday, September 1, 2007
Intec gears up

The 30 or 60 credits, as required by the Financial Advisory and Intermediary Services (FAIS) Act 2002, have been extended to December 2008. However, those financial advisers who have already obtained the required credits are encouraged to focus on continuing their studies by completing skills programmes to achieve “a full qualification.”

Intec School of Insurance is launched the programmes during August 2007 with first registrations closing on 21st October 2007.
The deadline to obtain a full qualification has not yet been announced by the Financial Services Board. The FAIS Act was introduced so that compliance for advisers would be achieved in phases with the final phase culminating in a full qualification.
“We offer very affordable outcomes-based learnerships,” says Bonnie Johansen, Academic Manager of ICG Learning Solutions. This is the division of International Colleges Group working with Intec School of Insurance to upgrade national skills.
“Advisers can study a range of programmes gaining credits towards a full qualification. These programmes are developed to accommodate a wide range of subjects in terms of subject matter expertise.”
Intec School of Insurance has extended its learning programmes to assist advisers with skills programmes for the following qualifications:
• National Certificate in Financial Services Wealth Management, NQF 4 and 5;
• National Certificate in Short Term Insurance NQF 4; and,
• Further Education and Training Certificate (FETC) NQF 4, in:
o Short Term Insurance (Personal & Commercial lines);
o Long Term Insurance; and,
o Wealth Management.

Upon completion of all the skills programmes, leading to a full qualification, a final external assessment will be required to incorporate the full learning process. Without this final assessment, students will not be issued with a National Certificate for the full qualification.
Johansen further points out that Intec encourages learners to complete their studies at the institution where they started. But if that is not possible Intec might be able provide the appropriate programme to ensure that an adviser achieves his/her full qualification. An example in this regard would be for students who have completed the UNISA / Damelin Recognition of Prior Learning (RPL) and now want to study towards their full qualification.

About the Skills Programmes

Skills programmes are structured into four to six skills programmes, with each consisting of two subjects that equal approximately 30 credits if completed successfully. Each programme also consists of two formative assessments (assignments) and two 3-hour exam papers (summative assessments).
Advisers can enrol on one skills programme twice a year (provided they are found competent to move forward). Those with prior FAIS (fit & proper) credits can also enrol to obtain additional credits as required.
Intec has achieved an excellent competency rating in its previous learning programmes. The material is of the highest standard and meets the South African Qualification’s Authority (SAQA) requirements. The skills programmes are also approved by INSETA’s Quality Assurance Body (INSQA).
Subsidies are still available for individuals and small companies. To encourage the industry to enrol for FAIS training and to make training more affordable, INSETA has made a 40% subsidy available for advisers who study through Intec School of Insurance. Note that the subsidy is only available to “historically disadvantaged individuals.”
The subsidy is easy to access with no application or approval delays. Advisers can simply pay Intec School of Insurance 60% of the course fees, while the learning institution will take care of all administration and further liaison with INSETA.
If your company has less than 50 employees, you are also eligible to apply for the same subsidy from INSETA.
For more information, or to enrol for these new skills programmes, please contact Intec School of Insurance on 0860 10 40 14.
 

Copyright © Insurance Times and Investments® Vol:20.8 1st September, 2007
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