We often experience a lot of irritation from candidates who fail to comply with the rules and regulations laid down by the FSB regarding the regulatory examinations. As an examination body, we are bound by these rules in the same manner as you are.
Please take careful note of the pointers provided below.
- It is your responsibility to ensure that you are registered for the correct regulatory examination, on the right date, at the right time and at the correct venue.
- Please make sure you diarise these details, and obtain directions well in advance.
- If you do not receive confirmation within 24 hours of scheduling the exam, please contact the Examination Body immediately.
- Candidates need to ensure that their full names and surname are recorded correctly before they write their examination as no amendments to certificates will be allowed once the result has been uploaded to the Financial Services Board.
Changes to Registrations
If a candidate wants to make changes to the examination, date, time or venue, he or she must contact the relevant Examination Body and make the necessary arrangements prior to ten working days of the examination date to reschedule. The rescheduled date will be impacted by the availability of an examination at the venue and session required.
Candidates are required to be at the venue 30 minutes before the commencement of the examination session.
- No candidate may enter the examination venue later than 30 minutes after commencement of an examination session.
Important: Late comers (candidates) will be shown away by the Invigilator. The candidate will forfeit the fee paid and will have to re-register again.
- No candidate may leave the examination venue less than 30 minutes after commencement of an examination session.
Only candidates registered for the examination in question will be permitted to sit for the examination. No person may write an examination on behalf of another candidate.
Photographic proof of identity must be presented before candidates will be admitted to examinations. Failure to produce the required identification will result in you being unable to write the examination. You will also forfeit the fee paid and be obliged to re-register again.
- South African citizens must provide a valid identity document/ driver’s license.
- Citizens of other countries must provide a valid passport to positively identify themselves before being allowed to write an examination.
Note: No copies or certified copies will be accepted.
Frequently asked RE Questions
|1||What exam must I write?
Both the RE5 and RE1 are Level One exams. RE5 is for Representatives and RE1 for Key Individuals. The RE3 exam is for licence category II candidates.
|2||How much does it cost?
The FSB determines the fee. Currently it costs R1050 per exam, also in the case of a re-write. From 25 April, this increases to R1113.
|3||What preparation material is available?
Fully updated resources are available for those requiring access to the legislation applicable to the regulatory examinations:
|●||Please make sure that you first read the FSB’s Preparation Guide to make sure you follow the right process in preparing. Page seven includes a recent amendment to guide candidates in studying in the correct manner.|
|●||Click on the following highlighted sections to download the relevant updated Inseta learning material for key individuals, RE 1, and representatives, RE 5.|
|●||LexisNexis provides a “Legislation Handbook” together with a “Preparation Guide” containing the qualifying criteria, with a link to the relevant legislation.|
|●||The Juta FAIS Pocket Statutes also contains a CD with a comprehensive list of updated supplementary legislative material for reference purposes.|
|●||The DVD of the FSB’s telematics broadcast on the RE 1 and RE 5 provides a good introduction and overview, and can also be ordered online.|
|4||Where can I write?
Go to: http://www.faisexam.co.za/show_venues
|5||What dates are available?
Go to: http://www.faisexam.co.za/view_schedule
|6||What training is available?
As an Exam body we are not allowed to recommend companies that offer face-to-face Regulatory exam classes. You can try Google for someone in your area.
Bear in mind that this exam tests your knowledge about the laws applicable to the provision of financial advice and intermediary services. The questions are based on very specific qualifying criteria set out in the FSB preparation guide. Any training that does not have this as a basis will not prepare you properly for the exam. Do your own research and don’t just accept what others say.
|7||Where can I buy old question papers?
There are no genuine “old question papers” available. Be very careful when buying such preparation aids as some of those on offer are not in line with the high standard prevailing in the actual exams and often lead to a false sense of knowledge which is sadly exposed when confronted by the actual exam. Follow the guidelines provided in the FSB Preparation Guide and you are far more likely to achieve success.
RE Schedules, Venues and Registration