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A representative makes the required product disclosures to a client orally on 14 May, and the client buys the product the same day. By what date must the disclosures be confirmed in writing?
RE5 practice question with a worked answer. This is one of hundreds of FSCA RE5 questions in the RegulatoryExams question bank.
- a) 21 May
- b) 13 JuneCorrect
- c) 28 May
- d) 14 August
Why this is the answer
Information that is provided orally must be confirmed in writing within 30 days. May has 31 days, so 30 days from 14 May is 13 June. Seven days and 14 days are too short and are not Code periods for this purpose, and three months is far too long.
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