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Fit & Proper FSP License (Fit & Proper/Operational Ability)
Which statement about completing competence requirements while under supervision is correct?
RE5 practice question with a worked answer. This is one of hundreds of FSCA RE5 questions in the RegulatoryExams question bank.
- a) The representative must complete the qualification, regulatory examination and other competence requirements within the permitted periods measured from the date of first appointment.Correct
- b) There is no deadline — supervision can continue indefinitely without completing anything.
- c) The representative must complete everything on the very first day or be dismissed.
- d) Only the product supplier decides the deadlines, not the regulator.
Why this is the answer
Competence requirements (qualification, regulatory exam, product training) must be completed within the periods prescribed from the date of first appointment (DOFA). It is neither open-ended nor required all on day one, and the timeframes are set by the regulatory framework.
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