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5.1.1.1 Explain the concept of fraud and make use of at least 2 authentic Long-term insurance examples.
This response will be reviewed and graded after submission.
5.1.2.1 Identify and list one area in the industry where fraud could be committed for Long-term insurance and give an indication of the parties who could be involved in fraud for each possible area.
This response will be reviewed and graded after submission.
5.1.3.1 Collect a portfolio of evidence of fraud for three case studies (use your own case studies) involving at least three different parties.
This response will be reviewed and graded after submission.
5.1.4.1 Identify and name 7 (seven) of the legislation governing fraud, as it applies in Long-term insurance.
This response will be reviewed and graded after submission.
Identify and explain the legal recourse available to Long-term insurers in cases of fraud and give at least 1 authentic example of each.
This response will be reviewed and graded after submission.
5.1.6.1 Explain the consequences of committing insurance fraud for at least three different parties that may be involved in fraud.
This response will be reviewed and graded after submission.
5.1.7.1 Explain the impact of fraud in relation to the impact that it has on insurance business.
This response will be reviewed and graded after submission.
5.1.8.1 Describe the internal policy relating to fraud for a particular Long-term insurer. (You can use the company that you currently work for as an example).
This response will be reviewed and graded after submission.
5.1.9.1 Explain the procedure followed if fraud is suspected with reference to a particular Long-term insurer (You can use the company that you currently work for as an example).
This response will be reviewed and graded after submission.
5.1.10.1 Describe the process followed in order to gather evidence and present a case, with reference to a particular Long-term insurer (You can use the company that you currently work for as an example).
This response will be reviewed and graded after submission.
5.1.11.1 Describe the tools that are available for information management, with reference to a particular Long-term insurer (You can use the company that you currently work for as an example).
This response will be reviewed and graded after submission.
5.1.12.1 Explain the importance of confidentiality in an assessment investigation and give an indication of the possible consequences if there is a breach of confidence.
This response will be reviewed and graded after submission.
5.1.13.1 Compile a case study of a data set and identify trends in the data in order to provide a benchmark against which to measure suspicious incidences in your own work situation.
This response will be reviewed and graded after submission.
5.1.14.1 Analyse data to establish trends in statistics generated by a Long-term insurer (you can use your own employer / organisation as example).
This response will be reviewed and graded after submission.
5.1.15.1 Refer back to the analysis done in Activity 16. Make a recommendation for possible corrective measures, based on an identified trend or suspicious incident.
This response will be reviewed and graded after submission.
5.1.16.1 List/name at least 2 possible control measures that could be used to manage fraud, for at least three parties.
This response will be reviewed and graded after submission.
5.1.17.1 Explain the risk if a Long-term insurer does not implement adequate control measures, with reference to the Long-term insurer, providers and policyholders. List at least 2 (two) risks for each party.
This response will be reviewed and graded after submission.
The REready! Pack is designed to be used to prep for RE1 or RE5 or both.
The content for RE1 and RE5 overlaps as both exams test your practical knowledge of the FAIS Act and FICA.
The class is not a facilitator that is going to read the law out of a book for you.
Anna Bouhail contextualizes the content and creates an understanding of basic concepts related to law, the industry, and competency exams.
The class is structured to also instill compliance skills allowing the learner to answer practical questions.