What is a regulatory exam?

From Longman Business Dictionary ˌregulatory examiˈnation [countable, uncountable] when a government official formally looks at the activities of a company or financial institution to see that it is not doing anything illegal or wrongSome banks haven't had a full regulatory examination for as long as two years.

Likewise, how much is a regulatory exam?

Currently it costs R1226 per exam, also in the case of a re-write.

Beside above, what is regulatory exam re5? RE5 is for Representatives and RE1 for Key Individuals. The RE3 exam is for licence category II candidates.

Likewise, people ask, how do I pass a regulatory exam?

Preparing for your RE Exam

1. Plan and schedule time to read and revise the study material.
2. Use the FSCA's Preparation Guide.
3. Study material.
4. Practice with online RE mock exams.
5. Attend an RE Training Seminar.

What is the pass mark for Re 1 exam?

The pass mark for the exam is 65% or higher. This means you will have to get 33 out of 50 questions correct in order to pass. For RE1, there are 80 questions and you will have two-and-a-half hours to complete the exam. The pass mark for the exam is 65% or higher.

What is re in banking?

RE stands for Revenue Expenditure.

How do I register for re exams?

To register for the Key Individual Exam 1 or Representative Exam 5 the following is required:

1. ID / passport number.
2. FSP number.
3. Personal & contact details.
4. Professional details.

How do I get a re certificate?

Download your RE Certificate

1. Click on the Moonstone FAIS Exam webpage.
2. Click on the second heading: “update your booking/personal details/get results”.
3. Key in your ID or Passport Number used to register for the exam.
4. The system will send a password to the e-mail address you provided at registration.

What is re1 qualification?

The RE Level 1 deals with the regulatory framework and is compulsory for all individuals in the financial services sector. It will test your knowledge on the procedures relating to the conduct of business in terms of the FAIS Act.

What does re5 stand for?

Financial Advisory and Intermediary Services Act (FAIS-RE5) Preparation. Add Your Review.

What is an RE certificate?

The Level 1 (RE 1) exam, which is compulsory for anyone who provides financial advice and intermediary services, tests regulatory compliance and needs to be passed by December this year. The Level 2 (RE2) exam focuses on specific financial products and has to be passed by December 2013.

How long does it take to get re5 results?

about eight days

What is re1 and re5?

The RE1 and RE5 exams are exams that you physically write at an exam provider such as Moonstone. The exam consists of a set amount of questions and a prescribed pass mark that you have to achieve. You have to register and pay the set fees at the provider when you register.

Who can write re5?

Difference Between RE1 and RE5 This examination consists of 80 questions. All sole proprietors and key individuals who are responsible for managing and overseeing a business relating to the rendering financial services for FSPs in Category I, II, IIA, III and IV are required to write this examination.

What is re examination in court?

Re-examination of a Witness The purpose of re-examination is to give the witness an opportunity to explain any matters raised during cross-examination and is therefore limited to only those matters that were raised during cross-examination.

How do I register for FSP number?

Log in and follow these steps.

1. From the Do it now menu, choose Register an FSP, then on the next screen choose Individual.
2. Complete the application form using the information you've gathered, including:
3. If you're applying to be an AFA, select Financial Markets Authority and complete the application fields, including:

How do I apply for re5?

To register for the Key Individual Exam, RE 1, or the Representative Exam, RE 5, you will need your ID or passport number, date of birth, FSP number as well as personal, contact and professional details. Individual bookings can be made by one of the following methods: On-line (Click on this link)

What is a Category 1 service provider?

LICENCE CATEGORIES. A Category I FSP renders financial services other than the financial services mentioned in Categories II, IIA, III and IV. Indicate. whether the applicant will be furnishing advice (A) and/or whether the applicant will be rendering intermediary services (B) in.

What is Fais exam?

The learners who are required to write FAIS exams are representatives who work in the insurance sector and render advice and/ or intermediary services to clients. They are about testing the learner's knowledge of the procedures related to the conduct of business in terms of the FAIS Act.

What are the powers of the FAIS Ombud?

The mission of the FAIS Ombud is to promote consumer protection and contribute to the integrity of the financial services industry by resolving complaints in a manner that is impartial, economical, accessible and, at all times, equitable.

What's the difference between re1 and re5?

Both the RE5 and RE1 are Level One examinations. RE5 is for Representatives and RE1 for Key Individuals.

What is a key individual?

A Key Individuals (KI) is responsible for managing and overseeing the activities relating to the rendering of any financial service. The activity of “managing” means to have executive control or authority and “overseeing” is the function of supervising a person/s and their work in an official capacity.