RE5 Mock Exam 8 is designed to assess your understanding of Task 8 of the RE5 Exam content.
The title for Task 8 of the RE5 Exam scope is: Operate as a representative in terms of the FAIS Act.
we recommend that you should take re5 mock exam 2 after completing this re5 mock exam 8
Key learning outcomes covered by RE5 Mock Exam 8
1. Describe the roles and responsibilities of representatives as defined in the FAIS Act.
definition of representative
definition of advice.
definition of intermediary services
guidance note on intermediary services and representatives
what is excluded from the definition of advice
qualifications of representatives
licensing conditions
2. Apply knowledge of the role of the representative in terms of the FAIS Act.
definition of representative and person
definition of advice.
definition of intermediary services
3. Explain the fit and proper requirements that apply to a representative (honesty, integrity, good standing, qualifications, experience, knowledge tested through regulated examinations and continuous professional development.
definition of representative and person
exemption of services under supervision.
definition of experience
definition of qualification
definition of recognised qualification
incidents indicating when persons are not honest, or lack integrity or good standing
general competence requirements
lapsing of experience
regulatory examinations
