All RE5 questions
Financial Products Apply knowledge of the financial products and services environment
Which of the following is a 'financial product' under the FAIS Act?
RE5 practice question with a worked answer. This is one of hundreds of FSCA RE5 questions in the RegulatoryExams question bank.
- a) A long-term insurance policy.Correct
- b) A second-hand car.
- c) A residential lease agreement.
- d) A cellphone contract.
Why this is the answer
Long-term insurance policies are financial products under FAIS. Cars, leases and cellphone contracts are not financial products as defined in the Act.
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