RE5 & RE1 Regulatory Exams Success Class Of 2026

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10/06/2026

RE5 REGULATORY EXAM HELP*
Struggling with FAIS, Fit & Proper, Advice vs Intermediary?

I’ve got you covered for *R350*:
✅ Complete study materials - broken down in simple English
✅ Updated questions & answers - current exam style
✅ Updated mock exams - practice until you’re ready
✅ Tips & guidance - pass tricks + common traps
✅ WhatsApp support - online sessions + channel for Q&A

Don’t fail twice. Prep right.
*WhatsApp: [0825509560]* to book your spot

08/06/2026

Explain the implications fora Representative should a key individual no longer meet the good standing, honesty and integrity requirements.

1. FSP appoints – Registrar approves 
2. KI may also be representative – meet requirements of both roles 
3. Most important appointment – licensing requirement that all FSPs have active KI at all times and KI fit and proper 
4. Application for KI (FSP4 form) needs to include a CV, proof of management experience, at least one written reference and proof of qualifications 
5. Responsible for ensuring FSP is compliant (except where responsibility specifically that of compliance officer or auditor) 
6. Co-signs compliance report, can act temporarily as compliance officer if no compliance officer 
7. If Fit and Proper status of KI changes or KI leaves, may impact on licence

08/06/2026

Describe the regulated management and oversight responsibilities of a key individual.

1. Can be directors or managers in business 
2. Sole proprietor - will be the KI as well as fulfil other roles 
3. Fit and Proper for KI: 
4. Personal character qualities of honesty & integrity (same list) 
5. Competence 
6. Experience: 
7. Minimum management/oversight experience of services similar to the financial services rendered by the FSP; 1 year for FSP I, acquired before appointment  Category experience as per tables for FSP/rep
8. Qualifications: as per board notice requirements for FSP/rep 
9. Regulatory exams: 
10. Level 1 for KI 
11. CPD 
12. Operational ability to fulfil the responsibilities imposed by the Act on FSPs

08/06/2026

Describe the roles and responsibilities of key individuals as defined in the FAIS Act.

• Natural person
• Sole proprietor (FSP & KI same person)
• Manage or oversee
• Activities of FSP
• Rendering of any financial service (advice & intermediary service)
• Alone or with another approved Key Individual
• Single KI – not meet all requirements
• Another KI
• Together they must meet the requirements
• At least one KI must meet product specific competence requirements

07/06/2026

When will a representative be under supervision?

• First appointed as representative after 1 January 2010
• If one or more competence requirement has not been met, i.e. experience, qualification, regulatory exams, CPD • Must meet honesty and integrity requirements – cannot obtain under supervision
• Must meet minimum entry level criteria:
• Category 1
• Matric
• Grade 12
• Appropriate certificate at NQF level 4
• Category 1.1 (sub-category A) & 1.19
• ABET level 1
• Proven ability to read, write & calculate
• Category II, IIA & III
• Relevant degree or similar qualification

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