Representative workshop RE 5
(This examination is called FAIS Level 1 RE 5)
This regulatory examination focuses on your role and responsibilities as a representative, and what you need to know about the FAIS Act in order to remain compliant.
The content of this examination focuses on the regulatory framework, i.e. FAIS, FICA, Code of Conduct, etc, as prescribed by the FSB.
This examination consists of 50 questions.
Who needs to attend
All Representatives performing Financial services in relation to Category I, II, IIA, III and IV are required to complete the level 1 regulatory examination.
We will prepare you by working through each of the 8 tasks as prescribed by the FSB, as well as the qualifying criteria and relevant Board Notices, Codes and Act as stipulated by the FSB (refer Preparation Guide for level 1 Regulatory examination (RE 1 and RE 5) updated 4 April 2014 version 2 on the FSB website under FAIS.)
The tasks are as follows:
- Execute the required actions as a Representative in terms of the FAIS Act.
- Contribute to maintaining a FSP License.
- Adhere to the specific obligations in terms of the relevant Code of Conduct and other subordinate legislation.
- Apply knowledge of Financial products.
- Awareness of consequences for Representative that have been found to act fraudulently, or committed any other act that gives rise to debarment.
- Align with execution of duties and actions with the compliance requirements.
- Carry out the proper record keeping activities.
- Adhere to the requirements of FICA and other relevant anti-money laundering legislation, as it applies to the FSP.
The course includes:
- A Full 2 day workshop (can be extended to 3 days for groups, depending on the experience level of the learner)
- A Full colour printed workbooks handed to learners at the workshop
- Access to a Learner Support Centre that provides administrative support by
- scheduling workshops
- scheduling learners for workshops and exams
- communicate via e mail or sms to each individual on workshop and exam information
- content support by handling content or administrative queries
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