It stands to reason that candidates who write the regulatory exams should be tested on current legislation.
In view of the fact that regulations change constantly, it is an enormous task to amend study material on an ongoing basis.
For example: changes contained in the Financial Services Laws General Amendment Act, 2013 (Act 45 of 2013) came into operation on 28 February 2014. Candidates were given a period of grace within which they could write the exams. After the cut-off date, they had to use updated study material, which was not readily available.
The FSB will advise candidates in advance of such changes, but it is perhaps in your own interest to write the exams before such deadlines are announced, as it could impact on the time available to prepare properly.
What exam should I register for?
We receive enquiries on a daily basis from candidates who are unsure whether they need to write the RE 1 or RE 5. The different exams available are clearly explained in a document titled Which Regulatory Examination must I Register for? Please check here to avoid mistakes.
The RE 1 is for Key Individuals and the RE 5 for Representatives.