All RE5 questions
Key Individual Role of the Key Individual in terms of the FAIS Act
Which scenario represents a failure of a key individual’s management and oversight duty?
RE5 practice question with a worked answer. This is one of hundreds of FSCA RE5 questions in the RegulatoryExams question bank.
- a) Taking a single day of approved leave.
- b) Allowing an unsupervised, not-yet-competent representative to advise clients on a new product.Correct
- c) Submitting the annual compliance report on time.
- d) Ensuring every representative has passed the RE5.
Why this is the answer
Permitting an unsupervised representative who is not yet competent to render advice is a breakdown of the controls and supervision the KI is responsible for. Taking leave, ensuring RE5 passes, and filing the compliance report on time are not oversight failures.
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