The South African Council for Valuers was established on 1 January 1983 by section 2 of the Valuers’ Act, 1982 (Act No. 23 of 1982). On 31 August 2001, the Council was replaced by the SA Council for the Property Valuers Profession established by section 2 of The Property Valuers Profession Act, 2000.
The Council’s main functions are the:
registration of Professional Valuers, Professional Associated Valuers and Candidate Valuers.; maintenance of their integrity; enhancement of their status; improvement of their academic and other qualifications and of the standard of services rendered by them; protection of members of the public in their dealings with registered persons; and drawing up and keeping up to date of a register of all registered persons
This is the possibility of loss. It is criterion used in measuring the extent of a risk assumed by an insurer. From the statistical standpoint of rate calculation for short term insurance, exposure is the product of the amount of insurance at risk and the policy period expressed in years. For example, the exposure in the case of R1 000 payroll policy written for a year is R1 000 x 1, or R1 000; if written for six months, the exposure is R1 000 x ...