Higher Certificate in Financial Products

Higher Certificate in Financial Products

The Higher Certificate in Financial Products will equip students with the required knowledge and skills to provide sound advice to clients on products outlined in Categories B1 and B2 of the FAIS Act, while also providing them with a basic understanding of the more complex products that clients may have. The knowledge emphasises general principles applicable to long-term insurance and the application of these principles in the financial services industry.

About

The Higher Certificate in Financial Products provides students with a broad introduction into the life insurance industry and its products. An industry-oriented qualification, its purpose is to provide "representatives" (as defined in the Financial Advisory and Intermediary Services Act (FAIS Act)) who advise clients on basic risk and savings products with introductory knowledge, cognitive and conceptual tools and practical techniques for their current roles in industry and for further higher education studies. 


The Certificate in Financial Products appears on the Financial Services Board (FSB)'s list of recognised qualifications for FAIS Fit and Proper purposes with exemptions in the product categories Long-term Insurance Category A, B1 and B2. 

 

CAREERS

This qualification is aimed at financial advisers who provides financial services to individual clients using Long-term Category A, B1 and B2 type products to address clients' needs. 

 

OUTCOMES

On successful completion of this qualification, students will be able to: 

  • Operate in a compliant manner as a representative in the financial services industry. 
  • Demonstrate an informed understanding of the structure and nature of long-term insurance and the role-players involved in the industry. 
  • Recommend suitable financial products based on the outcome of a needs analysis. 
  • Demonstrate personal selling skills in the financial services context. 

PROGRAMME STRUCTURE


Requirements

ADMISSION REQUIREMENTS

A knowledge, comprehension and application of the English language at NQF Level 4 (Grade 12 or equivalent level) is required. In order to determine the curriculum for which a student may register, the Milpark Education points system applies as follows: 

IF YOU MATRICULATED IN 2007 OR EARLIER

For entry into the programme, candidates who matriculated in 2007 or earlier must have:  a National Senior Certificate and a minimum of 13points on the Milpark points system.


IF YOU MATRICULATED IN 2008 OR LATER

For entry into the Higher Certificate, candidates require a National Senior Certificate (NSC) as certified by Umalusi. 

Foreign applicants whose first language is not English are required to provide proof of proficiency in English prior to admission to the qualification. Foreign students who do not hold a South African matric certificate must present a matric verification from the South African Matriculation Board on application 

 

IT REQUIREMENTS

Milpark provides students with materials, resources, formative assessments (including online tests and quizzes), discussion opportunities and a number of administrative services as part of the myMilpark and myCourses online tuition and support environments. Course materials contain links to additional external resources in the form of links to downloadable documents, websites and videos. Having access to these online facilities is essential for efficient communication, learning and success. You will need continuous (daily) access to study, using the resources mentioned above, and to submit and receive your assignments. 

Minimum system requirements: 

  • Reliable broadband Internet access 
  • Firefox/Internet explorer/Chrome web browser
  • Microsoft Word
  • PDF Viewer
  • Ability to scan and upload documents
  • Email/Cellphone for notification and communication.

 

Key Information

WORKLOAD RECOMMENDATIONS

Contact learning and distance learning students may register for a maximum of 3 modules per semester. 

 

COURSE-SPECIFIC REQUIREMENTS

Students are required to complete five modules, and must enrol for the two introductory modules (Regulatory Environment and Long-term Insurance – Environment and Concepts) before attempting the modules that focus on products and advice (Risk Products and Investment and Savings Products).

 

ASSESSMENT

Formative assessment contributes 30% to the final mark and consists of assignments. The exact formative structure per module will be communicated to you at the start of the semester. 

Students will write a final, summative assessment per module at the end of each semester, which contributes 70% towards the final mark. Students need to obtain a sub-minimum mark of 40% in the final, summative assessment and an overall mark of 50% in order to pass the module.

How to apply

Students need to complete the admission process and receive academic acceptance onto the programme before registering for modules (subjects or courses).

Admission:

*International students: please refer to the admission requirements for international students by clicking here .

Before applying, be sure that you:

  1. meet the minimum entry requirements as per the course programme brochure.
  2. adhere to the admission closing dates as per the course programme timetable.
  3. have all required documentation available as set out in the course programme brochure.
OR

Contact our student service centre at 086 999 0001 where a consultant will gladly assist you by completing your admission application on your behalf.

Upon successful admission, you will receive an acceptance letter via email as well as login details to access myMilparkmyMilpark, our online student environment.


Exemptions:

If you have completed a qualification at another accredited institution, you may be eligible for subject exemptions.

To apply for an Exemption:

  1. submit the relevant application if any of the modules you have completed previously (no more than 10 years ago) are similar to the modules on the qualification you are applying for.
  2. submit your original exemption application form together with originally certificated documents via post or hand delivery to Milpark.

Note: If you have previously completed a qualification at Milpark Education, you may also be eligible for subject exemptions, however these will be automatically granted on admission. No application is required.


Registration:

On successful admission, you can proceed with the registration of your semester modules.
*International students: please refer to the registration requirements for international students by clicking here .

To register, ensure that you:

  1. have received your login details to access myMilparkmyMilpark.
  2. adhere to the registration closing dates as per the relevant course programme timetable.

(You will be required to upload your proof of payment proof of deposit/EFT, bursary letter or credit card.)

OR

Contact our student service centre at 086 999 0001 where a consultant will gladly assist you by completing your registration application on your behalf.

Upon successful registration, a confirmation of registration letter will be sent together with your study material (where applicable).
All admission and registration information can be also viewed online on myMilpark .myMilpark .

Students need to complete the admission process and receive academic acceptance onto the programme before registering for modules (subjects or courses).

Admission:

*International students: please refer to the admission requirements for international students by clicking here .

Before applying, be sure that you:

  1. meet the minimum entry requirements as per the course programme brochure.
  2. adhere to the admission closing dates as per the course programme timetable.
  3. have all required documentation available as set out in the course programme brochure.
OR

Contact our student service centre at 086 999 0001 where a consultant will gladly assist you by completing your admission application on your behalf.

Upon successful admission, you will receive an acceptance letter via email.


Exemptions:

If you have completed a qualification at another accredited institution, you may be eligible for subject exemptions.

To apply for an Exemption:

  1. submit the relevant application if any of the modules you have completed previously (no more than 10 years ago) are similar to the modules on the qualification you are applying for.
  2. submit your original exemption application form together with originally certificated documents via post or hand delivery to Milpark.

Note: If you have previously completed a qualification at Milpark Education, you may also be eligible for subject exemptions, however these will be automatically granted on admission. No application is required.


Registration:

On successful admission, you can proceed with the registration of your semester modules.
*International students: please refer to the registration requirements for international students by clicking here .

To register, ensure that you:

  1. have received your login details to access myMilparkmyMilpark.
  2. adhere to the registration closing dates as per the relevant course programme timetable.

(You will be required to upload your proof of payment - proof of deposit/EFT, bursary letter or credit card.)

OR

Contact our student service centre at 086 999 0001 where a consultant will gladly assist you by completing your registration application on your behalf.

Upon successful registration, a confirmation of registration letter will be sent together with your study material (where applicable).
All admission and registration information can be also viewed online on myMilpark .myMilpark .

Registration:

*International students: please refer to the registration requirements for international students by clicking here .

To register, ensure that you:

  1. have received your login details to access myMilparkmyMilpark.
  2. adhere to the registration closing dates as per the relevant course programme timetable.

(You will be required to upload your proof of payment proof of deposit/EFT, bursary letter or credit card.)

OR

Contact our student service centre at 086 999 0001 where a consultant will gladly assist you by completing your registration application on your behalf.

Upon successful registration, a confirmation of registration letter will be sent together with your study material (where applicable).
All admission and registration information can be also viewed online on myMilpark .myMilpark .

All international students need to apply via the manual admission route and submit original certified documentation.

If the entry requirements for your chosen Milpark qualification is a South African National Senior Certificate (NSC), you need to obtain an exemption certificate from the Higher Education South Africa (HESA). Visit www.hesa.org.za for further information.

If the entry requirement for your chosen Milpark qualification is a prior undergraduate qualification, you need to obtain an equivalent certificate for foreign qualifications completed. Visit www.saqa.co.za for further information.

  1. Students enrolling via distance learning:
    • do not need to comply with any visa or residency requirements.
    • will conclude admission and registration processes at a distance.
    • will receive study materials via courier in their country of residence.
    • will receive support via distance methods.

    Note: Students are liable for additional costs in respect of courier and examinations.
    Please contact the student service centre 086 999 0001 for further information.

  2. Distance learning students who want to visit South Africa to attend a single short workshop or write an examination at a local venue, have to do so based on the normal visa/visiting requirements as stipulated by the Department of International Affairs (or Home Affairs).

    Note: Such a visit does not imply permission to remain in South Africa indefinitely based on registration at Milpark Education.

  3. Distance learning students are not allowed to provide a South African residential or postal address. Such registrations will not be concluded as the normal visa/study permit requirements have to be complied with as for contact/residential students below.

Contact learning

International students who do not have permanent residence in South Africa or who are not South African citizens need to follow the steps below:

Step 1

Consult their embassy/ Department of International Relations/ South African Embassy for specific prerequisites with regards to the legal requirements for registration with a South African academic institution.

Step 2

Obtain:

  • An official provisional admission letter from Milpark.
  • Proof of medical cover. The relevant South African law states:

"In terms of the Immigration Act No. 13 of 2002 as Amended and its Regulations, any prospective student to the Republic of South Africa, must provide proof of medical cover with a medical scheme registered in terms of the Medical Schemes Act, 1998 Act 131 of 1998."

  • Proof of sufficient funds to cover tuition fees, maintenance and incidental costs.
  • Proof of a cash deposit or bank guarantee equivalent to airfare or transportation costs to the student’s country of origin for repatriation purposes or forfeiture to the state should permit conditions not be complied with.
  • A medical certificate — a clean bill of health is required.

Step 3

Apply for a study permit by submitting Form 1 to the local Department of International Relations/South African Embassy.
The student will need to provide the embassy with an undertaking that they will leave South Africa on completion of her/his studies.

NB: Students should await the outcome of their application prior to making travel arrangements to South Africa.

Step 4

If a student is able to obtain a study permit on time, then they may continue with their application for full admission and registration for their selected modules.

NB: A certified copy of the International student’s passport together with a certified copy of a valid study permit must/will be kept in the student’s record file at Milpark Education. If a student is unable to obtain a study permit on time, then they must postpone their programme until the date on which they are in possession of a study permit.

 

International Admission Application Click Here