Free RE5 exam questions
Real-style RE5 questions with the correct answer and a full explanation for each one — covering the FAIS Act, the General Code of Conduct, FICA and the wider FSCA regulatory framework. Browse a sample below, then jump into the simulator for 700+ more questions.
Client Onboarding
Code of Conduct
- An FSP's **Conflict of Interest Management Policy** is mandatory. Which of the following is the primary pur…
- The Code of Conduct stipulates that advice must be 'appropriate' to the client. What must the Representativ…
- A Representative fails to disclose the nature and source of their remuneration (e.g., commission) that will…
- A client refuses to provide the necessary information for a proper needs analysis. Which ONE of the followi…
Complaints Management
Consumer Protection
Ethics
FAIS Act
- Mr. Simelane is newly employed by 'SA Life (Pty) Ltd', a licensed FSP, and provides advice on long-term ins…
- A company, 'Safe Deposits (Pty) Ltd', primarily sells safes. As a side-activity, a director, Mrs. Kanya, pr…
- A Category I FSP, 'Growth Capital (Pty) Ltd,' decides it wants to start managing clients' investment portfo…
- What is the overarching requirement in terms of the FAIS Act and General Code of Conduct for all services r…
FAIS Ombud
- Before a client can refer a complaint to the FAIS Ombud, what is the mandatory first step?
- An FSP fails to respond to a client's internal complaint within six weeks (42 days) of receiving it. The cl…
- A client receives a final written rejection of their complaint from their FSP on 1 March. What is the deadl…
- A client complains to the Ombud about the poor performance of an investment fund due to negative global mar…
FIC Act
- Which ONE of the following statements best describes the main purpose of Customer Due Diligence (CDD) under…
- The FIC Act classifies an FSP as an Accountable Institution (AI). What is the FSP's mandatory initial actio…
- Customer Due Diligence (CDD) requires an FSP to identify and verify the client's identity. When must the FS…
- A Representative observes a client trying to structure a cash deposit of R90,000 into three separate R30,00…
Financial Products
- A Representative is advising a client on an endowment policy. This type of product is legally classified as…
- Services related to a funeral policy or friendly society benefits (Subcategory 1.1) are generally associate…
- When advising on a product, the Representative must explain the consequences of early termination (e.g., pe…
Fit & Proper
- Mr. Khumalo, a Representative, was recently declared insolvent due to personal business failure. According…
- Ms. Dlamini, a Representative, was found guilty of a criminal offence involving fraud six years ago, which…
- An FSP must ensure it has adequate physical and electronic systems, including IT security and data backup,…
Insurance Principles
Key Individual
Licensing
Needs Analysis
Organizational Structure
POPIA
Professional Development
Record Keeping
- Mr. Chetty, a Representative, advises a client on a long-term insurance policy on 10 November 2025. What is…
- A client submits a formal complaint to the FSP about advice received 2 years ago. The FSP is required to ke…
- An FSP stores all required records electronically. To comply with the FAIS Act, which of the following is N…
Regulatory Bodies
- Which ONE of the following statements is correct regarding the **Ombud for Financial Services Providers (FA…
- Which ONE of the following bodies is responsible for regulating the *market conduct* of short-term insurers…
- Under the 'Twin Peaks' model, what is the primary role of the **Prudential Authority (PA)**?
Regulatory Framework
TCF
- Which of the six **Treating Customers Fairly (TCF)** outcomes focuses on ensuring that advice given to a cl…
- Under the **Treating Customers Fairly (TCF)** framework, who holds the ultimate responsibility for embeddin…
- Which **TCF Outcome** ensures that 'Customers are provided with clear information and are kept appropriatel…
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