All RE5 questions
Licensing Qualifications FAIS Act
Which of the following is a core element of the 'competence' requirement for a Category I representative?
RE5 practice question with a worked answer. This is one of hundreds of FSCA RE5 questions in the RegulatoryExams question bank.
- a) Being financially sound (a positive net asset position).
- b) Holding a valid motor-vehicle driver’s licence.
- c) Passing the relevant regulatory examination (the RE5) for representatives.Correct
- d) Holding nothing more than a matric certificate.
Why this is the answer
Competence is built from a recognised qualification, the regulatory examination (RE5) and appropriate experience (with ongoing CPD). A matric alone is only an entry minimum, a driver's licence is irrelevant, and financial soundness is a separate Fit and Proper pillar.
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