You must complete Class of Business training within 12 months of the date on which you were first appointed as a representative. The Class of business training will be determined by the products you give advice on.

No. The following people do not have to complete Class of Business training to meet the fit and proper requirements:

• Representatives in a Category 1 FSP who only give advice on basic funeral products and stokvel-type products.
• Those who sell a product strictly according to a script.
• Those who only advise on Tier 2 products.

Class of business is the generic training that focuses on general product category knowledge in relation to a specific Line of Business. All product sub-categories have been divided into nine Classes of Business. Within each class, there are relevant subclasses.

All supervised representatives must complete their COB training within 12 months of the date upon which they were first appointed as a Representative in respect of a financial product falling within that COB, and where COB training was a requirement.
If you are unsure about your date of appointment, we advise that you consult with your Compliance Officer who will be able to assist you.

It is a legislative requirement that if you are registered as a key individual (KI) you must complete the class of business training that relates to the specific classes of business you manage or oversee.

Certain exemptions do apply but it will depend on the FSP’s license category, i.e., the type of business being conducted or financial product you are working with.
We recommend that you consult your Compliance Officer for more guidance.

There are nine classes of business:

1. Short-term Insurance: Personal Lines
2. Short-term Insurance: Commercial Lines
3. Long-term Insurance
4. Pension Fund Benefits
5. Short-term & Long-term Deposits
6. Structured Deposits
7. Investments
8. Forex Investments
9. Healthcare Benefits

Note – When doing your Class of Business training through Growth in Motion, the Generic Module is compulsory and must be completed successfully once before any COB module can be attempted. The generic module is free of charge.

Once you have completed the Generic module, you can work on multiple Class of Business training courses.

The duration of the training is completely up to you as an individual. We encourage you to refer to our Class of Business brochure where we show the estimated times based on our pilot sessions.

We recommend reviewing the Generic Module as this give you a solid grounding as an introduction to Class of Business. All necessary material is covered in our on-line content. You can go over the content as many times as you like before attempting the final assessment.

Our on-line training was designed with the end-user in mind, and we pride ourselves on it being very user-friendly and one of the best on offer. It allows learners to do the training in their own time and at their own pace.
We also offer 2- or 3-day facilitated training to companies who prefer their candidates to be trained together at their own premises.

This only relates to corporates and each request will be forwarded to management for consideration.

You will have 3 attempts to pass the summative (final) assessment at the end of each COB course for which you have registered.

Depending on the COB course, you will get between two and two and a half hours to complete the summative (final) assessment.

Product specific training is not covered by the supervision exemption – it has to be completed before any financial services are rendered in the products.

By meeting all the competency requirements which consists of the following:

• Obtain a qualification recognised by the FSCA
• Pass the applicable regulatory exam
• Complete the class of business training applicable to you
• Gain the required experience while working under supervision in each product category.

An FSP and representative must complete the class of business training relevant to those financial products, within 12 months from date of first appointment or after being authorised to render financial service in respect of those products.

A key individual must complete the class of business training in respect of the classes of business it manages or oversees and for which it is approved to act as key individual prior to managing or overseeing the rendering of any such financial services.