If you’re looking for a Finance and Insurance course, you’ve come to the right place! The National Credit Act No 34 of 2005 was passed by Parliament on the 10th of March 2006. It is designed to achieve a number of objectives, most of which are to benefit and protect the consumer.
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Understanding the NCA (F&I and Loan Consultants)
UNDERSTANDING THE NCA (F & I AND LOAN CONSULTANTS
The National Credit Act No 34 of 2005 was passed by Parliament on the 10th of March 2006. It is designed to achieve a number of objectives, most of which are to benefit and protect the consumer. The aim is to introduce a single, functional system of regulation that will apply to all credit activities, thereby ensuring that all credit providers and credit consumers are treated equally.
Broadly, the Act aims to reduce reckless credit behaviour, both by credit providers and consumers and the level of over-indebtedness in South Africa.
What will the NCA course enable you to do?
- Successful candidates qualify for a NCA card, which is a legal requirement for most of the above industry players.
Who should apply?
- Employees of credit providers and credit agents, including those in the motor industry.
Content
Learning Unit 1
An overview of the NCA
An overview of the NCA
- Explain the purpose of the NCA
- Describe the main functions and responsibilities of the following role players:
- Consumers
- Credit providers; and
- Agents
Learning Unit 2
Scope and application of the NCA
- Explain what a credit agreement is.
- Classify the different categories of credit agreements.
- Understand who and what the National Credit Act applies to.
- Describe the credit agreements that the NCA does not apply to.
- Explain the limited relevance of the NCA with regards to credit agreements in respect of which the consumer is a juristic person, as well as limit relevance to incidental credit agreements.
Learning Unit 3
Types of credit agreements
- Distinguish between the different types of credit agreements, including:
- Credit facility
- Credit transaction
- Credit guarantee
- Combination of agreements
Learning Unit 4
Rights of consumers
- Understand the consumer’s right with regards to credit.
- Understand the consumer’s right with regards to confidentiality, personal information and credit records.
Learning Unit 5
Credit and affordability assessment
- Explain the concept of over-indebtedness and reckless credit.
- Recognise the process and requirements pertaining to credit and affordability assessments.
Learning Unit 6
Credit documentation
- List the credit agreements that are prohibited in terms of the NCA.
- Describe the provisions that are not allowed to be included in a credit agreement.
- Explain the requirements for small, intermediate and large quotations as set out in the NCA.
- Describe the information that must be contained in small, intermediate and large credit agreements.
Learning Unit 7
Rates and fees
- Describe the permissible rates and fees associated with a credit agreement.
- Understand the fees that may be added to the principal debt of credit transactions.
Learning Unit 8
Marketing and advertising
- Understand the obligations and requirements regarding marketing and advertising practices, including:
- Negative option marketing;
- Direct marketing and sale of credit at home or work; and
- Advertising practices.
Learning Material
Students will have online access to their study material which will include a study guide, self-assessments and relevant additional resources..
Fees
Please contact our office for more information: help@mbse.ac.za
Dates
Registration deadline:
Registrations will be accepted at any time throughout the year.
Accreditation and Certification
Certification
- Learners will receive a MBSE certificate after successful completion of the course.
- They will also receive a NCA card that is necessary for Finance and Insurance brokers (F&I).
Method of training
Online learning.
Admission Requirements
No admission requirements.
How to Apply?
Applications are open throughout the year. The learner will receive the learning material online after registration and proof of payment is send to our office.
Assessments
- After studying the material, the learner will complete an online Final Assessment.
- Learners need to obtain 60% to be competent
overview
Fee:
FEE: R3 260 (incl. VAT)
Starting Date
All year
Method of Training:
Online learning
Online learning
Course Duration
Estimated 8 Hours
Admission Requirements
No admission requirements
SHORT COURSES
- National Credit Act
The National Credit Act No 34 of 2005 was passed by Parliament on the 10th of March 2006. It is designed to achieve a number of objectives, most of which are to benefit and protect the consumer. The aim is to introduce a single, functional system of regulation that will apply to all credit activities, thereby ensuring that all credit providers and credit consumers are treated equally.
- FICA Courses
FICA is a crucial piece of legislation in South Africa. Its primary purpose is to combat financial crimes, including money laundering, fraud, tax evasion, terrorist financing activities, and identity theft. To be FICA compliant in South Africa, both organizations and individuals need to adhere to specific requirements and obligations.
- POPIA Courses
The Protection of Personal Information Act (PoPIA) is South Africa’s data protection law. The purpose of the legislation is to ensure all South African institutions conduct themselves in a responsible manner when collecting, processing, storing and sharing another entity’s personal information, by holding them accountable should they abuse or compromise personal information in any way.
- Entrepreneurship
An entrepreneur is someone who creates new business in the face of risk and uncertainty for the purpose of achieving profit and growth by identifying business opportunities and assembling the necessary resources, structures and procedures to capitalize on those opportunities.
Qualifications
- Postgraduate Diploma in Financial Planning (NQF 8)
The qualification is designed to provide advanced financial planning skills, knowledge, attitudes and values in the areas of Financial Management, Asset Management, Investment Planning, Risk Management, Tax Planning, Retirement Planning, Estate Planning and Ethics in order to produce graduates to meet the growing need for financial planning professionals in SA.
- Advanced Certificate in Financial Planning (NQF 6)
The Advanced Certificate in Financial Planning (ACFP) provides the skills and knowledge required to provide holistic financial planning services to the ‘man in the street’ and prepares you for further specialised studies in financial planning. The ACFP also addresses the education requirement to obtain the FINANCIAL SERVICES ADVISOR™ (FSA™) designation awarded by the Financial Planning Institute of South Africa (FPI). Please visit: www.fpi.co.za for more information on ‘a career in financial planning’.
- Occupational Certificate: Compliance Officer (NQF 6)
Companies and organisations are required to comply with various regulations and legislative requirements. Moonstone Business School of Excellence’s Occupational Certificate: Compliance Officer (NQF level 6) qualification equips students with these expert skills, and practical experience in legal matters, compliance risk management as well as the compilation, implementation and reporting of compliance strategies.
- Higher Certificate in Wealth Management (NQF 5)
The Higher Certificate in Wealth Management (HCWM) provides an ideal entry point into the financial services industry in various roles, or to kickstart your career in financial planning. The HCWM is recognised by the Financial Services Conduct Authority for all product sub-categories of Category I FSPs, and can be used to fulfil fit and proper requirements for FAIS roles in Category I FSPs.
- Higher Certificate in Short-Term Insurance (NQF 5)
The qualification covers Short-term Insurance related learning and provides a framework for students to develop competencies that will give them insight into the short-term sub-sector. It introduces a basic understanding of the key terms, rules, concepts and principles of the fields that will prepare them for the industry.
- Further Education and Training (FETC): Short Term Insurance (NQF 4)
The qualification covers Short-term related learning and provides a framework for students to develop competencies that will give them insight into the Short-term insurance sub-sector. It introduces a basic understanding of the key terms, rules, concepts and principles of the fields that will ready them for the industry.
- Further Education and Training (FETC): Wealth Management (NQF 4)
The Qualification is a holistic introduction to Wealth Management and Wealth Creation. It enables intermediaries to understand the Wealth Management environment, the legislative requirements and product-related information. Our qualification is aimed at students with less than four years’ experience, newcomers to the industry, or those who have lots of experience, but would like to brush up on their product knowledge. We developed the Skills Programmes, covered in this qualification, to provide intermediaries with more options to comply with the requirements of the FAIS Act.