NZQA registered unit standard
29177 version 1
Page 1 of 3
Title
Manage personal finances for racing purposes
Level
4
Purpose
Credits
10
This unit standard is intended for people who are employed as
jockeys or drivers in a thoroughbred or harness racing industry
context who are required to have an understanding of banking
facilities, maintain a personal budget, and demonstrate
understanding of financial record systems and components,
accounting and taxation requirements, and risk management.
People will be working under broad guidance with full
responsibility for their work routines.
Classification
Equine>Equine Care
Available grade
Achieved
Explanatory notes
1
Demonstration of competency must be consistent with:

Obligations required under the New Zealand Rules of Racing and the New
Zealand Rules of Harness Racing, which is empowered under the Racing Act
2003

Workplace and/or stable procedures

Legislation – Racing Act 2003, Health and Safety in Employment Act 1992,
Income Tax Act 1994, the Wages Protection Act 1983, the Credit Contracts Act
1981, the Injury Prevention, Rehabilitation, and Compensation Act 2001

Code of Welfare: Horses and Donkeys available at http://www.mpi.govt.nz.
2
Candidates must demonstrate competency in the context of a commercial business
operation under normal working conditions.
3
In the context of this unit standard, understanding means that there should be
evidence of a learners’ thorough comprehension of a topic. A learner with a good
understanding of a topic should have applied, or should be able to apply what they
have learnt to a workplace situation and will be able to alter their practices to the
different contexts they are applying their learning to. Assessors should be confident
that the learners’ understanding is embedded in their practices and behaviour.
4
For the purposes of assessment of Outcome 1, racing trust accounts must be
included for people working in the thoroughbred racing industry.
Outcomes and evidence requirements
Outcome 1
Primary Industry Training Organisation
SSB Code 101558
 New Zealand Qualifications Authority 2016
NZQA registered unit standard
29177 version 1
Page 2 of 3
Demonstrate understanding of banking facilities suitable for thoroughbred and harness
racing.
Evidence requirements
1.1
Describes financial accounts relevant to own personal and work situation.
1.2
Identifies relevant short-term and long-term investments.
Outcome 2
Establish, revise, and evaluate a personal budget.
Evidence requirements
2.1
Identifies personal sources of income and expenditure to create a balanced
budget that meets personal goals.
2.2
Evaluates and revises budget as required to reflect current situation
Outcome 3
Demonstrate understanding of financial record systems and components, accounting and
taxation requirements, and risk management options suitable for a self-employed jockey or
driver.
Evidence requirements
3.1
Describes financial record systems and components as required.
3.2
Describes banking services and financial options.
3.3
Describes taxation requirements relevant to a self-employed jockey or driver
and legislative obligations.
3.4
Describes risk management options relevant to personal finances.
Range
includes insurances.
Replacement information
This unit standard and unit standard 29176 replaced unit
standard 12627.
Planned review date
31 December 2020
Primary Industry Training Organisation
SSB Code 101558
 New Zealand Qualifications Authority 2016
NZQA registered unit standard
29177 version 1
Page 3 of 3
Status information and last date for assessment for superseded versions
Process
Version Date
Last Date for Assessment
Registration
1
15 October 2015
N/A
Consent and Moderation Requirements (CMR) reference
0018
This CMR can be accessed at http://www.nzqa.govt.nz/framework/search/index.do.
Please note
Providers must be granted consent to assess against standards (accredited) by NZQA,
before they can report credits from assessment against unit standards or deliver courses
of study leading to that assessment.
Industry Training Organisations must be granted consent to assess against standards by
NZQA before they can register credits from assessment against unit standards.
Providers and Industry Training Organisations, which have been granted consent and
which are assessing against unit standards must engage with the moderation system that
applies to those standards.
Requirements for consent to assess and an outline of the moderation system that applies
to this standard are outlined in the Consent and Moderation Requirements (CMRs). The
CMR also includes useful information about special requirements for organisations wishing
to develop education and training programmes, such as minimum qualifications for tutors
and assessors, and special resource requirements.
Comments on this unit standard
Please contact the Primary Industry Training Organisation standards@primaryito.ac.nz if
you wish to suggest changes to the content of this unit standard.
Primary Industry Training Organisation
SSB Code 101558
 New Zealand Qualifications Authority 2016