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Aspects of the Long-Term Insurance (LTI) Act

The Long Term Insurance (LTI) Act, Act 52 of 1998, has the purpose to provide for the registration of long-term insurer; for the control of certain activities of long-term insurers and intermediaries and for matters connected therewith. This course serves as a building block for understanding product structure and design as you progress through the course.

On completion of this course you will be able to understand:

  1. Compare the fundamentals of long and short-term legislation in South Africa
  2. Explain the terminology and underlying concepts used in the LTI Act
  3. Describe the underlying requirements of the LTI Act
  4. Apply the LTI Act to a client’s rights and obligations under a contract

Online course duration: 8-Hours

CPD Points: 5.5

B-BBEE Fundamentals

Do you know what B-BBEE is and how it can impact your business? It is important for all organisations to understand what B-BBEE is, the potential impact on your business and how to achieve the best possible BEE score on the applicable industry scorecard. Achieving BEE compliancy, and a good BEE level, is complex and could be very expensive unless you understand the basic principles of the B-BBEE Code of Good Practise. This course will assist you to understand the fundamental principles underlying the BEE Code and how to apply it in your business and achieve the best possible score, in the most cost-effective manner.

On completion of this course you will be able to understand:

  1. The difference between a Generic and QSE scorecard
  2. The scorecard elements
  3. What are priority elements and the discounting principle
  4. How to measure the different elements
  5. The potential impact of B-BBEE on a business
  6. High level budget requirements to achieve BEE compliancy

Online course duration: 5-Hours

CPD Points: 4

Protection of Personal Information Act (PoPI)

The Protection of Personal Information (PoPI) Act (Act 4 of 2003), gives clarity to the right of privacy of every individual as guaranteed by the Constitution. It balances the limitations aimed at such rights against those rights of accessing information and protecting important interests, including the free flow of information.

On completion of this course you will be able to understand:

  1. What PoPI is
  2. How PoPI applies to business
  3. The precautions required when utilising service providers or outsourcing backups or technology

Online course duration: 4-Hours

CPD Points: 4

Short-Term Insurance Act & Related Concepts

What is the reason for the Act? Which parties are governed by the Act? What are the consequences of non-compliance? What does the concept “short term insurance” imply? What does the terminology in the act mean? These questions and many more are addressed as the learner progresses through the course.

On completion of this course you will be able to understand:

  1. The purpose of the Short-Term Insurance Act (53 of 1998) and related concepts
  2. The basic requirements of the Short-Term Insurance Act that apply to Insurers
  3. How the Short-Term Insurance Act controls intermediaries
  4. How the Short-Term Insurance Act regulates short term insurance policies and protects individual policy holders?

Online course duration: 7-Hours

CPD Points: 6.5

Financial Advisory and Intermediary Services Act (FAIS)

The purpose of the Financial Advisory and Intermediary Services (FAIS) Act (Act 37 of 2002), is to protect consumers of financial products and services; to regulate the selling and advice-giving activities of FSPs; to ensure that the consumers are provided with adequate information about the financial product they use and about the people and institutions who sell these financial products. This must be done in a competent and open manner; to establish a properly regulated financial services profession. This course will create an understanding of how the FAIS Act is applied in practice.

On completion of this course you will be able to understand:

  1. Explain the purpose of the Intermediaries Services’ (FAIS) legislation
  2. Describe the authorization process
  3. Apply disclosure and conduct requirements to a selected sub sector
  4. Explain the mechanisms for enforcement and the implications for the intermediary and the industry
  5. Explain the rights of recourse available to aggrieved clients

Online course duration: 9-Hours

CPD Points: 7

Finance Intelligence Centre Act (FICA)

The Financial Intelligence Centre (FIC) is established to identify the proceeds of unlawful activities and to combat money laundering activities. Its objectives will expand to make information collected by it available to investigating authorities, the intelligence services and the South African Revenue Services to facilitate, amongst others, the administration and enforcement of the laws of the Republic.

On completion of this course you will be able to understand:

  1. The purpose of FICA
  2. The requirements of the Act in terms of knowing the client
  3. The record keeping function prescribed in the Act
  4. How to report suspicious transactions
  5. The consequences of non-compliance to FICA

Online course duration: 10-Hours

CPD Points: 8

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