FREE RE5 Exam Online Course | Sirah Business School

About Course

The RE5 Exam training course is developed to help Representatives or advisors in financial services to prepare for the Regulatory Examinations. As a FAIS Representatives you are required to pass the RE5 Exam within two years from the date of first appointment. Our training course focuses on equipping you with the necessary knowledge and skills to pass the RE5 exam. Please note that we only help with the preparation, our course does not include sitting for the official RE5 exam and certification. After completing the training, you will be well prepared to write the RE5 Exam through an examination body appointed by the Financial Sector Conduct Authority (FSCA).

Who should register for the course?

Current financial services representatives working under supervision who are looking for training before writing the RE 5 exam.
Work seekers who are interested in getting jobs in the financial services companies, such as banks, insurance companies, insurance brokers, call centres,

ADMISSION REQUIREMENTS:

No admission requirements.

METHOD OF LEARNING:

Online learning

STARTING DATE:

All year

FEES

FREE!!

COURSE DURATION:

The student will have access to the course material for 12 months.

Learner may select to write the actual exam after 2 months if all fees are paid

ASSESSMENTS

Assessments are done online, in the form of online RE5 Mock Exams.

RE5 Exam Training and RE5 Exam Scope

The FSCA Preparation Guide for re5 & RE1 contains the scope for the RE5 Exams. After completing this course, you will have a holistic understanding of all the learning outcomes contained in the RE5 Exam scope. The re5 exam learning outcomes include the following:

Demonstrate understanding of the FAIS Act as a regulatory framework
Contribute towards maintaining an FSP license
Define the role of the Key Individual in terms of the FAIS Act
Adhere to the specific Codes of Conduct
Comply with regulated record keeping requirements
Comply with the requirements of the FIC Act and Money Laundering and Terrorist Financing control regulations, as it applies to the FSP
Dealing with complaints that have been submitted to the Ombud for FSPs
Operate as a Representative in terms of the FAIS Act

Course Content

Task 1: Demonstrate understanding of the FAIS Act as a regulatory framework

Task 2: Contribute towards maintaining a FSP Licence

Task 3: Define the role of the Key individual in terms of the FAIS Act.
The Financial Advisory and Intermediary Services (FAIS) Act defines a Key Individual (KI) as a person who manages or oversees an authorized financial services provider's (FSP) financial services. KIs are responsible for ensuring that the FSP complies with the FAIS Act and its licensing requirements. Responsibilities • Manage and oversee KIs manage the FSP's activities and supervise the people who work for them • Ensure compliance KIs ensure the FSP adheres to the FAIS Act, its license conditions, and the General Code of Conduct • Ensure fit and proper status KIs ensure that all representatives who report to them maintain their fit and proper status • Submit regulatory reporting KIs ensure that all regulatory reporting is submitted to the FSCA on time and with the correct information • Maintain operational capabilities KIs ensure that the FSP's operational capabilities are in accordance with FSCA licensing requirements • Key Individual considerations KIs must carry out their duties with due care, skill, and diligence. They must also be honest and have integrity. Consequences of non-compliance The FSCA can take action against KIs who fail to perform their duties, including debarment and fines.

Task 4: Adhere to the specific Codes of Conduct
This task is mainly about the General Code of Conduct (GCOC).

Task 5: Comply with regulated record keeping requirements
To comply with regulated record-keeping requirements as a Financial Services Provider (FSP), you must meticulously maintain detailed records of all client interactions, financial advice provided, and related transactions, ensuring they are easily accessible, stored securely, and kept for a minimum of five years after the termination of the financial product or service, allowing for inspection by the relevant regulatory body upon request; this includes both electronic and paper records, with the responsibility to readily convert them into a readable format if needed. Key aspects of FSP record-keeping compliance: Comprehensive documentation: Capture all client communications, including verbal conversations, written correspondence, and any financial needs analysis conducted. Client identification: Maintain proper records of client identification documents used to verify identity. Transaction details: Record all financial transactions executed on behalf of the client, including product details, dates, and amounts. Advice records: Document the rationale behind any financial advice given to clients, including suitability assessments and reasons for product recommendations. Accessibility: Ensure records are easily retrievable and can be presented to the regulator within a specified timeframe if required. Storage and security: Implement robust systems to protect records from loss, damage, or unauthorized access. Important points to remember: Legal obligation: Failure to comply with record-keeping regulations can lead to penalties and regulatory action. Third-party storage: If using a third-party to store records, ensure a written agreement is in place clearly outlining responsibilities. Regular review: Regularly review and update record-keeping procedures to maintain compliance with evolving regulations.

Task 6: Comply with the requirements of the FIC Act and Money Laundering and Terrorist Financing control regulations, as it applies to the FSP.
FICA

Task 7: Dealing with complaints that have been submitted to the Ombud for FSPs.
Complaints - procedures and processes

Task 8: Operate as a Representative in terms of the FAIS Act.
"Operating as a representative" in terms of the FAIS Act means acting as an individual who provides financial services to clients on behalf of a licensed "Financial Services Provider" (FSP), essentially meaning you are employed or mandated by the FSP to deliver financial advice or products to clients, while adhering to all the regulatory requirements set out in the FAIS Act regarding qualifications, conduct, and client protection. Key points about being a representative under FAIS: Acting on behalf of an FSP: You cannot directly provide financial services in your own name, but must do so under the license of the FSP you are representing. Required qualifications: To operate as a representative, you must hold the necessary qualifications and pass relevant regulatory exams to demonstrate your competence in the financial services field. Compliance with codes of conduct: You are bound by the FSP's compliance framework and the FAIS codes of conduct, which dictate ethical standards and client-centric practices. Supervision and oversight: The FSP is responsible for supervising your activities as a representative, ensuring proper client interaction and adherence to regulations. Example scenarios of a representative under FAIS: A financial advisor employed by an insurance company who sells insurance products to clients. A stockbroker working for a brokerage firm who provides investment advice to clients. A mortgage loan officer at a bank who assists clients in applying for home loans.

Student Ratings & Reviews

4.5

Total 2 Ratings

1 Rating

0 Rating

Alexander Heunis

8 months ago

Good

charelle mangera

1 year ago

I truly appreciate this course. I'm starting my training on Monday and having done this course I feel confident about the training as I will have knowledge about the content and won't be completely lost. Thank you

About Course

RE5 Exam Training and RE5 Exam Scope

What Will You Learn?

Course Content

Task 1: Demonstrate understanding of the FAIS Act as a regulatory framework

Task 2: Contribute towards maintaining a FSP Licence

Task 4: Adhere to the specific Codes of Conduct This task is mainly about the General Code of Conduct (GCOC).

Task 6: Comply with the requirements of the FIC Act and Money Laundering and Terrorist Financing control regulations, as it applies to the FSP. FICA

Task 7: Dealing with complaints that have been submitted to the Ombud for FSPs. Complaints - procedures and processes

Student Ratings & Reviews

You missed

Task 4: Adhere to the specific Codes of Conduct
This task is mainly about the General Code of Conduct (GCOC).

Task 6: Comply with the requirements of the FIC Act and Money Laundering and Terrorist Financing control regulations, as it applies to the FSP.
FICA

Task 7: Dealing with complaints that have been submitted to the Ombud for FSPs.
Complaints - procedures and processes