All RE5 questions
Needs Analysis Best Practices Client Onboarding
Which ONE of the following is a key component of a **Financial Needs Analysis (FNA)**?
RE5 practice question with a worked answer. This is one of hundreds of FSCA RE5 questions in the RegulatoryExams question bank.
- a) Identifying the client's financial situation, needs, and risk profile.Correct
- b) Calculating the Representative's potential commission.
- c) Verifying the client's identity for FIC Act purposes.
- d) Setting the premium for the insurance policy.
Why this is the answer
The FNA (or 'needs analysis' under the GCoC) is the process of gathering all relevant information about a client's current financial situation, their future goals (needs/objectives), and their willingness to take risk (risk profile) to form the basis for suitable advice.
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.