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Unit Standard No.12164Page 68

TASK SHEET 2.7

Refer to the FAIS Determination of Fit and Proper, as well as the Definitions section of the FAIS Act and look up the various categories of Financial Products which are detailed.  For each product category, identify an example of a product from that category.

NO.

CATEGORY OF INSURANCE

PRACTICAL EXAMPLE

1

Long Term Insurance Category A

2

Long Term Insurance Category B

3

Long Term Insurance Category C

4

Short-term Insurance Personal Lines

5

Retail Pension Benefits

6

Short-term Insurance Commercial Lines

7

Pension Fund Benefits (excl.

Retail Pension Benefits

8

Securities and investment  instruments

9

Participatory interest in

Collective Investment Schemes

10

Foreign currency denominated investment instruments, including foreign currency deposits   

11

Health Service Benefits

12

Deposits as defined in section 1(1)

of the Banks Act (term more than

12 months)

13

Deposits as defined in section 1(1)

of the Banks Act (term less than

12 months)

14

A benefit provided by a Friendly Society

Completed By:

Signed

Date

Assessed BY

:

Signed

Date

Moderated By

Signed

Date

Comments

INSMAT final materials31/10/03

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