What does the learning cover?
Originally known as ‘the SAF test’ or ‘SAF competency test’ - SAF Expert provides learners with intermediate level knowledge of 9 different motor finance products used by customers to buy or lease vehicles. The learning also covers the key FCA principles and rules for the sale of motor finance and other important regulations such as those relating to unfair trading and anti-money laundering.
Who is the learning for?
SAF Expert is the standard level of learning for staff involved in the sale of motor finance to customers. This is the five-step process for learners:
- Start studying the free training material available here.
- Receive login details - once the company administrator registers their details.
- Login and sit the SAF Expert test – the 60 question 60 minute online test.
- Download the SAF Expert certificate – on successful completion of the test. Learners are informed immediately on finishing the test. The pass mark is 75%.
- Repeat the process annually - to maintain competence and to ensure the company retains SAF Approved status.
SAF Expert guides
If you are looking to take the SAF Expert test for the first time and would like more information about getting started, please view our user guide here.
For companies that are putting their staff through the SAF Expert training material and test, a guide for those setting up their account is available here.
The free to access training material is available online and as a downloadable pdf covering:
Finance Product Knowledge
- Finance structures – how motor finance products are structured
- Finance products – The structure, common profiles and features of all motor finance products commonly used in the market.
- Interest rates – An explanation of variable and fixed interest rates.
- Consumer credit and the FCA – Changes to how consumer credit is regulated, principles based regulation and the FCA’s permission and authorisation process.
- Promoting and selling motor finance – How FCA rules and legislation determine the way motor finance should be promoted, provided and explained to consumers, and the customer’s rights once the finance agreement is in place.
- General legislation impacting on the sales process – including unfair trading practices, distance selling, the protection of personal data and the prevention of money laundering.
To view the full syllabus for SAF Expert please click here.
Accredited by The London Institute of Banking & Finance
SAF Expert is now accredited by The London Institute of Banking & Finance. This means that the Institute has reviewed and approved the standards and quality of the programme and considered the learning appropriate for credits. Holders of SAF Expert can claim an exemption from Unit 1 of SAF Advanced - the Level 3 Certificate in Automotive Finance (CertAutoFS) awarded by The London Institute of Banking & Finance.
SAF Experts are therefore a third of the way to achieving the level-3 (A-level equivalent) SAF Advanced qualification.
For more about SAF Advanced please click here.