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Record Keeping Comply with regulated record keeping requirements
A representative must record the material aspects of the service rendered. Which of the following is LEAST likely to be a material aspect requiring a record?
RE5 practice question with a worked answer. This is one of hundreds of FSCA RE5 questions in the RegulatoryExams question bank.
- a) The representative’s personal lunch-break schedule.Correct
- b) The product recommended and the date of advice.
- c) The client’s financial situation and needs analysis.
- d) Any fee or commission the FSP/representative will receive.
Why this is the answer
Material aspects include the client's circumstances, the needs analysis, the product recommended and the remuneration. A representative's lunch schedule has nothing to do with the service and is not a material record.
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