UNDERSTANDING RETAIL FINANCE AND INSURANCE

UNDERSTANDING RETAIL FINANCE AND INSURANCE

1. SCOPE

This Unit Standard is intended for learners in automotive sales who are required to forecast, monitor and evaluate their own performance from statistical information and market trends.

On achievement of this unit standard, the learner will be able to:

• Evaluate information for forecasting sales against company expectation.
• Make and record sales forecasts based on market factors.
• Monitor and evaluate previous own sales performance against own forecasts.

The learner is capable of explaining, advising and demonstrating the available financial options and their importance; applying for finance through the correct institutions; settling outstanding amounts owed on vehicles on behalf of the customer; understand and apply the relevant Finance orientated tasks and be aware of the insurance legislation impacting on the sale and on the selling of additional services and products.

This unit standard makes provision for the automotive retail industry with special reference to the fundamentals of vehicle finance in the following categories; Light commercial vehicles; passenger vehicles; recreational vehicles; Motor cycles; Tri-cycles; Quad cycles; Boats, light and heavy commercial vehicles, agricultural vehicles and Off Road (ATR) vehicles.

On achievement of this unit standard, the learner will be able to:

• • Advise customers on vehicle Finance options.
  • Complete an application for financing a vehicle.
  • Settle an outstanding amount of money owed to a bank, on behalf of a customer.
  • Adhere to relevant finance legislation.
  • Demonstrate an understanding of “add-on sales”.

2. PROGRAMME ENTRY REQUIREMENTS / LEARNING ASSUMED TO BE IN PLACE

It is assumed that a learner will be competent in:

• • Communication at NQF Level 4.
  • Mathematical Literacy at NQF Level 4.
  • Concepts of accounting at NQF Level 4.

3. DURATION

6 Days

4. UNIT STANDARDS REFERENCE

259918    Evaluate personal sales performance in the retail industry    NQF 4   5 credits

259882    Apply the fundamentals of vehicle finance    NQF 5   12 credits

5. COST

Please refer to office for formal quotation.