11762 version 4
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Provide information to purchasers regarding the availability of finance
and insurance
Level
3
Credits
4
Purpose
People credited with this unit standard are able to identify and quantify
purchasers' finance and insurance requirements, and inform purchasers how
to obtain finance and insurance.
Subfield
Boating Industries
Domain
Marine Sales and Services
Status
Registered
Status date
27 August 1997
Date version published
20 March 2009
Planned review date
31 December 2012
Entry information
Open.
Accreditation
Evaluation of documentation and visit by NZQA and
industry.
Standard setting body (SSB)
Boating Industry Training Organisation
Accreditation and Moderation Action Plan (AMAP) reference
0136
This AMAP can be accessed at http://www.nzqa.govt.nz/framework/search/index.do.
Special notes
1
The following apply to the performance of all elements of this unit standard:
a No activities associated with this unit standard are to constitute the practice of law,
insurance sales or insurance brokerage;
b All work practices must meet documented company quality management
requirements. These include documentation of activities, events, and decisions;
c All communications made in relation to this unit standard must be made in
accordance with company procedures for content, recipient, timing, and method;
d All activities must comply with any policies, procedures, and requirements of the
organisation/s involved; the ethical codes of relevant professional bodies; and any
relevant legislative and/or regulatory requirements, including the Fair Trading Act
1986, the Credit Contracts and Consumer Finance Act 2003, the Consumer
Guarantees Act 1993, and subsequent and delegated legislation.
 New Zealand Qualifications Authority 2016
11762 version 4
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insurance products – off-shore insurance, racing insurance, all risks
insurance, business-related insurance.
2
Range
3
This unit standard can be assessed off job.
Elements and performance criteria
Element 1
Identify and quantify purchasers' finance and insurance requirements.
Performance criteria
1.1
Comparisons of available information regarding purchasers’ financial resources
with the financial requirements of the proposed transaction enable the
purchasers’ financial requirements to be quantified.
1.2
Assessment of risks to boats, and their associated systems and equipment
enables the potential impact of risks to be identified in terms of insurance
products.
Range
1.3
risks – theft, criminal and malicious behaviour, negligence, fire,
storm, leakage, malfunction, third party liability.
Purchasers are directed to contact finance and insurance professionals, without
specific and unauthorised endorsement, for specialist advice on their finance
and insurance requirements.
Element 2
Inform purchasers how to obtain finance and insurance.
Range
information only – sources of insurance and non-vendor finance;
information and assistance – vendor finance.
Performance criteria
2.1
Possible sources of finance are identified and discussed with purchasers in
terms of their respective features.
Range
2.2
sources – banks, finance companies, insurance companies,
vendor finance, private finance;
features – rates, terms, lending criteria.
Possible sources of insurance are identified and discussed with purchasers in
terms of their respective features.
Range
features – premiums, amount of cover, terms, risks covered,
excess.
 New Zealand Qualifications Authority 2016
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2.3
Purchasers are directed to contact finance, insurance, legal, and accountancy
professionals, without specific and unauthorised endorsement, for specialist
advice on appropriate finance and insurance.
2.4
Vendor financing arrangements are actioned in accordance with company
procedures and legal requirements.
Range
legal requirements – Credit Contracts and Consumer Finance Act
2003, Fair Trading Act 1986, Consumer Guarantees Act 1993.
Please note
Providers must be accredited by NZQA, or an inter-institutional body with delegated
authority for quality assurance, before they can report credits from assessment against
unit standards or deliver courses of study leading to that assessment.
Industry Training Organisations must be accredited by NZQA before they can register
credits from assessment against unit standards.
Accredited providers and Industry Training Organisations assessing against unit standards
must engage with the moderation system that applies to those standards.
Accreditation requirements and an outline of the moderation system that applies to this
standard are outlined in the Accreditation and Moderation Action Plan (AMAP). The
AMAP 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 Boating Industry Training Organisation training@bia.org.nz if you wish
to suggest changes to the content of this unit standard.
 New Zealand Qualifications Authority 2016