All RE5 questions
Record Keeping Comply with regulated record keeping requirements
Which of the following is NOT among the records of advice an FSP must keep and be able to furnish to a client?
RE5 practice question with a worked answer. This is one of hundreds of FSCA RE5 questions in the RegulatoryExams question bank.
- a) A record of the representative’s personal sales commission targets for the quarter.Correct
- b) The financial products that were actually considered for the client.
- c) An explanation of why the selected product is likely to meet the client’s identified needs.
- d) Where a product is being replaced, a comparison of the relevant features of the old and new products.
Why this is the answer
Records of advice must capture the products considered, the reasons the chosen product suits the client's needs, and (on a replacement) a comparison of old vs new. The representative's internal commission targets are not a client record-of-advice item.
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