Mathematical Literacy for the Insurance Industry
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Mathematical Literacy for the Insurance Industry

This course equips learners with practical numeracy skills tailored to real-world insurance scenarios. It focuses on developing competence in interpreting data, performing basic financial calculations, and making informed decisions based on numerical information commonly used in the industry.
Mathematical Literacy & Time Management Unit Standards

9015 – Apply Statistical and Probability Concepts

This unit standard is designed to provide credits towards the mathematical literacy requirement of the NQF at Level 4. The qualifying learner is capable of: Critiquing and using techniques for collecting, organising, and representing data; using theoretical and experimental probability to develop models, make predictions and study problems; and critically interrogating and using probability and statistical models in real-world problem solving and decision making.

9016 – Geometry and Measurement in Practical Contexts

This unit standard supports mathematical literacy at NQF Level 4. People credited with this standard can: Measure, estimate, and calculate physical quantities in practical situations; explore, analyse, and interpret geometrical relationships in two and three dimensions; and apply mathematics to real-world spatial and measurement-related problems.

7468 – Use Mathematics for Financial and Economic Applications

This unit standard equips learners with the ability to: Plan and control financial instruments including insurance, unit trusts, stock exchange dealings, and bonds; apply simple and compound interest in contexts such as loans and annuities; investigate costs and revenues to optimise profit; and debate national/global economic matters like taxation and resource distribution using mathematics.

8976 – Apply Data Handling and Probability in Decision-Making

This standard is aimed at learners working towards NQF Level 4 mathematical literacy. Learners credited with this unit are able to: Critique and use data handling techniques; apply both theoretical and experimental probability; and use statistical models to support problem solving and decision making in everyday and work-related situations.

117171 – Time Management for Productivity and Lifestyle Balance

This unit standard introduces a holistic time management approach. The qualifying learner will be capable of: Reflecting on personal time usage to promote a balanced lifestyle; researching the relationship between lifestyle and productivity; identifying time management tools and techniques; and applying time management skills to enhance productivity and personal well-being.

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