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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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?
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.
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
Semester 1 & 2 |
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Admissions are always open |