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School of Financial Services

Class of Business

The competency requirements set out in the FAIS Act require that financial services providers, key individuals and representatives complete Class of Business training. Milpark Education offers Class of Business training in all nine classes.

Milpark Education is an approved provider of Class of Business training by the Financial Planning Institute of South Africa.

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NQF Level

N/A

SAQA

N/A

Minimum Credits

N/A

About
Class of Business Courses
Key Dates
Downloads

WHAT IS CLASS OF BUSINESS TRAINING?

Means the training referred to in respect of a class of business and which training is provided and assessed by an accredited provider or an educational institution eg. Milpark.

Who needs it?

A representative working under supervision has 12 months from the effective date to complete it.

By when is it effective?

Classes of business training has been effective since 1 August 2018.

Who is excluded?

  1. A Cat I FSP, its key individual and reps that are authorized, approved or appointed to render financial services only in respect of the financial products: Long-term sub cat A and/or Friendly Society Benefits; and
  2. A rep of a Cat I FSP that is appointed to
  • Furnish advice or render an intermediary service in respect of a Tier 2 financial product; or Perform only the execution of sales in respect of a Tier 1 financial product provided that the requirements in section 229b)
  • are complied with
  • The competency requirements relating to product specific training contained in this Part do not apply to a Cat II, Cat IIA or a Cat III FSP.

 

Apply online for access to the Class of Business Course qualification!

The competency requirements set out in the FAIS Act require that financial services providers, key individuals and representatives complete Class of Business training.

Milpark Education offers Class of Business training in all nine classes:

1. Short-term Insurance (Personal Lines)
Accident and health policy
Liability policy
Miscellaneous policy
Motor policy
Property policy
Transportation policy
Short-term reinsurance policy

 

2. Short-term Insurance (Commercial Lines)
Accident and health policy
Engineering policy
Guarantee policy
Liability policy
Miscellaneous policy
Motor policy
Property policy
Transportation policy
Reinsurance policy

 

3. Long-term Insurance
Assistance policy
Life risk policy
Life investment policy
Fund policy
Sinking fund policy
Long-term reinsurance policy

 

4. Pension Fund Benefits

5. Short-term and Long-term Deposits

6. Structured Deposits

7. Investments
Shares
Money market investments
Debentures and securitised debt
Bonds
Derivative instruments, warrants, certificates or other instruments
Securities and instruments
Participatory interest in a collective investment scheme
Participatory interest in a CIS hedge fund
Retail pension benefits

 

8. Forex Investments

9. Health Services Benefits

What we offer for each class:

  • Access to online course page with online material
  • Study plan
  • Videos from industry experts guiding you through complex aspects of the material
  • Printed study guides are also available on certain classes.
  • Corporate clients have the option to include or exclude this printed guide.
  • Three attempts at the online assessments
  • Online verifiable certificate available within 24 hours of completion.
Semester 1 & 2
Admissions are always open