Class of Business

Introduction

The Class of Business training is one of the competency requirements introduced by BN 194 of 2017, in terms of the Financial Advisory and Intermediary Services Act, 2002 (Act No. 37 of 2002). Each class will be offered as a separate short course, during which participants will be trained and assessed on aspects as set out in legislation.

Next Start Date

Duration

1 Year

NQF Level

N/A

SAQA ID

N/A

Credits

N/A

Introduction

The Class of Business training is one of the competency requirements introduced by BN 194 of 2017, in terms of the Financial Advisory and Intermediary Services Act, 2002 (Act No. 37 of 2002). Each class will be offered as a separate short course, during which participants will be trained and assessed on aspects as set out in legislation.

About the Programme

This programme is designed for financial services providers, key individuals and representatives who need to complete Class of Business training in order to meet the competency requirements set out in the FAIS Act.

Financial services providers, key individuals and representatives are required to be trained and assessed on the product lines (classes of business) in which they intend to render financial services. These product lines include:

  • Short-term Insurance: Personal Lines
  • Short-term Insurance: Commercial Lines
  • Long-term Insurance
  • Pension Fund Benefits 
  • Short-term and Long-term Deposit 
  • Structured Deposits
  • Investments
  • Forex Investments
  • Health Services Benefits 

The course is self-paced, and the duration will depend on your time availability up to a maximum of 12 months. 

Programme Structure

The following will be provided for each course: 

  • Access to the online course page
  • Online material
  • Study plan
  • Access to the online tutor
  • Videos from industry experts to guide you through complex aspects of the material
  • Online activities to complete before attempting the assessments
  • Three attempts at each online assessment
  • Online verifiable certificate, available immediately on successful completion of a class

A short course certificate of completion will be issued, provided that you meet the minimum requirements for certification for this specific course. No CPD points will be allocated for courses completed for the sole purpose of meeting the competence requirement of Class of Business Training.  

Please enquire with Milpark for the available options, should you wish to complete the Class of Business Training content with the purpose of meeting the CPD requirements of the FAIS Act.   

Minimum Admission Requirements

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These courses have open enrolment, but proficiency in English is required.  Applicants whose first language is not English may be required to provide proof of proficiency.

Resources and Support Information

Factsheet

Download our factsheet for everything you need to know about our Class of Business programmes, including technology and minimum system requirements.

Technology Requirements

Ensure you're prepared with the necessary tech requirements to optimise your online learning experience.

COB and CPD Points

A breakdown of the Class of Business and Continuous Professional Development course points.

Distance Learning Online

Your course will be delivered via the myMilpark online platform, allowing you to study at your own pace. A tutor is available on the online forum to assist with content-related queries, and a course administrator is also on hand to help with any administrative questions.

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