All RE5 questions
Licensing Qualifications FAIS Act
Which ONE of the following is a key component of the 'Competence' requirement for a Category I FSP representative?
RE5 practice question with a worked answer. This is one of hundreds of FSCA RE5 questions in the RegulatoryExams question bank.
- a) Having a matric certificate only.
- b) Passing the RE5 (Regulatory Exam) for representatives.Correct
- c) Having a valid driver's license.
- d) Being financially sound.
Why this is the answer
The 'Competence' pillar for a representative is built on three parts: 1) A recognized Qualification, 2) The RE5 Regulatory Exam, and 3) Relevant Experience. Passing the RE5 is a mandatory component for Tier 1 product advisors.
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