The cart is empty

{article How to register for a Qualification/Workshop} {text}{/article}

{slider What are “Regulatory Exams?”|blue|closed}

Regulatory exams are part of the “fitness” requirements for people who are representatives or key individuals in the Financial Services Industry. These exam requirements are outlined in Board Notices issued by the Financial Services Board under the Financial Advisory and Intermediary Services Act 2002 (FAIS) and are therefore a legal requirement.

{slider What does the exam consist of?|blue}

           
   

RE5 - Representatives

  

RE1 - Key Individuals and Sole Proprietors

  

Number of questions

  

50

  

80

  

Duration

  

2 Hours

  

2.5 Hours

  

Minimum Required Percentage

  

66%

  

65%

  
           
 

{slider title="What is a Key Individual?" class="blue" alias="my-alias"}

A “key individual”, in relation to an authorised financial services provider, or a representative, carrying on business as—

  • a corporate or unincorporated body, a trust or a partnership, means any natural person responsible for managing or overseeing, either alone or together with other so responsible persons, the activities of the body, trust or partnership relating to the rendering of any financial service; or

  • a corporate body or trust consisting of only one natural person as member, director, shareholder or trustee, means any such natural person.

{slider What is a Financial Services Provider?|blue}

Means any person, other than a representative, who as a regular feature of the business of such a person:

  • furnishes advice;

  • furnishes advice and renders any intermediary service;

  • renders an intermediary service.

{slider Which exam must I write?|blue}

If you give advice to clients on products such as insurance and investments, you will need to write the level 1 Regulatory Exam for Representatives (RE5). However, if you are involved only with assistance business such as funeral policies or friendly societies you do not need to write the RE5 exam.

If you intend to become a Key Individual you will need to complete Regulatory Exam for Key Individuals (RE1). If you fall under a category II Financial Services Provider, you will also be required to complete the Regulatory Exam for this category (RE3).

{slider How much do exams and rewrites cost?|blue}

The standard fee according to the Financial Services Board is R 1 163.00 for the exam or rewrite.

{slider Useful links|blue}

 

 

 

{/sliders}