All RE5 questions
Key Individual Role of the Key Individual in terms of the FAIS Act
An FSP employs: (a) a representative who advises on unit trusts; (b) a key individual who oversees the representatives; (c) a receptionist who books appointments; (d) a representative who sells only funeral policies. Who must pass a regulatory examination?
RE5 practice question with a worked answer. This is one of hundreds of FSCA RE5 questions in the RegulatoryExams question bank.
- a) (a) and (b) onlyCorrect
- b) (a), (b) and (d)
- c) All four of them
- d) (a) only
Why this is the answer
Representatives who render services on Tier 1 products, such as unit trusts, must pass the RE5, and key individuals must pass the RE1. A receptionist renders no financial service, and a representative dealing only in Tier 2 products such as funeral policies is exempt.
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