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Introduction
Class of business training Forms part of the Fit and proper competency requirement as embedded
in the Board Notice 194 of 2017. All FSP’s and Representatives are required by the FAIS act to
complete the class of business training and Product Specific Training prior be rendering any
financial services in terms of a particular product
COB contains financial products are categorized as per the Long Term Insurance Act. The COB
training will also form part of the FSB CPD requirements of the REP.
Long term is categorised under Class of Business 3: Long Term subcategory 3.2. and 3.3
Class of Business 3: Long Term
3.1
Assistant Policies
3.2
Life Risk Policy
3.3
Life Investment Policy
3.4
Fund Policy
3.5
Sinking Fund Policy
3.6
Long Term Reinsurance
Table 1: Class of Business 3: Long Term