1. Long-term Industry Bodies

Question 1

The major functions of the … include the awarding of diplomas and certificates to successful learners at various levels of professional membership.

Answer 1

IISA (Insurance Institute of South Africa)

Question 2

The objective of the … is to be a representative body, whose aim are to test, develop and protect the competence of persons engaged in the life insurance, pensions and health-care industries, and the associated or related fields of personal financial planning, health-care and employee benefits consultancy.

Answer 2

FPI (Financial Planning Institute)

Question 3

The Office of the … serves as a dispute resolution system through which complaints against FSP’s or representatives can be processed.

Answer 3

Ombud for Financial Services Providers (FAIS Ombud)

Question 4

The … represents more than 15 000 licensed financial services advisers throughout Southern Africa.

Answer 4

Financial Intermediaries Association of South Africa (FIA)

Question 5

The … is a body set up to represent the retirement fund industry, largely made up of privately registered funds, state funds, insured funds run though the life insurers and brokers involved in the retirement fund field.

Answer 5

Institute of Retirement Funds (IRF)

Question 6

The … main purpose is to find consolation rather than taking proceedings to court.

Answer 6

Life Insurance Ombudsman

Question 7

The … is made up of qualified legal people operating in the field of retirement funds.

Answer 7

Pension Lawyers Association

Question 8

… represents the majority of South Africa’s asset managers, collective investment scheme management companies, hedge funds, linked investment service providers, multi-managers and life insurance companies.

Answer 8

ASISA

Question 9

… which was formed early in 1999 with the aim of providing a home for previously disadvantaged brokers who were unable to meet the standards of existing broker organisations.

Answer 9

Black Brokers’ Forum (BBF)

Question 10

… is hoping to ensure that black insurance professionals acquire the necessary skills and competencies to drive and influence both strategic and operational decision-making within the insurance industry.

Answer 10

Black Insurance Professional of SA (BIPSA)

Question 11

… mission is to accelerate transformation and development for black insurance professionals

Answer 11

Black Insurance Professional of SA (BIPSA)

Question 12

… is an independent body that supervises institutions and services in terms of 13 Parliamentary Acts.

Answer 12

The Financial Services Board (FSB)