All RE5 questions
Record Keeping Comply with regulated record keeping requirements
A client complains about advice given two years ago. For how long must the FSP keep the record of the complaint and related correspondence, at a minimum?
RE5 practice question with a worked answer. This is one of hundreds of FSCA RE5 questions in the RegulatoryExams question bank.
- a) Five years from the date the complaint is finalised.Correct
- b) Five years from the date of the original advice.
- c) One year from the date the complaint is lodged.
- d) Six months from the date the complaint is lodged.
Why this is the answer
Complaint records, like other FAIS records, must be kept for at least five years, measured from when the complaint is finalised (its 'termination'). Tying the period to the original advice date, or to short six-month/one-year windows, is incorrect.
Want to test yourself on 700+ more questions like this?
Start your free RE5 simulator today — timed mock exams, full answer explanations and cloud-synced progress tracking.
More Record Keeping questions
- FSPs must keep client records safe from destruction. For how long must records generall…
- Which of the following is NOT among the records of advice an FSP must keep and be able…
- What must a record of advice issued to a client contain?
- For how long must an FSP retain records of advice and related client documentation unde…