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Fit & Proper FSP License (Fit & Proper/Operational Ability)
Vuyo must complete 6 CPD hours per cycle. He completes 4 accredited hours in July 2024 and a further 2 accredited hours on 10 June 2025. Has he met the requirement for the cycle that began on 1 June 2024?
RE5 practice question with a worked answer. This is one of hundreds of FSCA RE5 questions in the RegulatoryExams question bank.
- a) Yes. The cycle follows the calendar year, so both sets of hours fall within the 2024 and 2025 cycles.
- b) Yes. Hours completed within 30 days after the end of a cycle may be carried back to that cycle.
- c) No. The cycle ended on 31 May 2025, so the June 2025 hours count towards the next cycle.Correct
- d) No. All CPD hours for a cycle must be completed in a single accredited activity, not in parts.
Why this is the answer
A CPD cycle runs for 12 months from 1 June of one year to 31 May of the next. Only the 4 hours completed in July 2024 fall within the cycle that began on 1 June 2024, so he is 2 hours short. There is no carry-back period, the cycle is not the calendar year, and hours may be accumulated across several activities.
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