Course Overview
The RE5 is a regulatory exam set by the Financial Sector Conduct Authority provides the holder of the license to offer advice that leads to the conclusion of a financial transaction, examples of such include advice on products from financial services providers, such as insurance and banking, as well as financial contracts offered by retailers and cellphone operators.
The qualification is designed for Representatives who offer a financial service on behalf of a Financial Service Provider in terms of the conditions of employment, or any other mandate, but exclude a person rendering clerical, technical, administrative, legal, accounting or any service that does require judgement. The license is a mandatory requirement in accordance with the FAIS Act and renders the holder ‘Fit and Proper’ to provide advice in the conclusion of a financial transaction. The objective of the Regulatory Exam is to regulate and professionalise the Financial Services Sector and to ensure that advice offered by financial service providers is not detrimental to the consumers.