The Re5 exam is an examination that is written by all representatives including those employed or mandated by a Financial Service Provider (FSP), who offer a financial service to individuals or companies in South Africa.
People rendering clerical, administrative, legal, accounting, technical or other service in a subsidiary level are excluded from the RE examinations.
If you offer financial services in a subordinate position which does not steer to a particular transaction regarding a financial product in response to general enquiries are not required to write the re5 examination.
Learners who fail the Financial Advisory and Intermediary Services Act (FAIS-RE5) are supposed to rewrite the RE exam until they pass.
The secret to passing the RE examinations is adequate preparation by going through the FSB Preparation Guide and looking at previous RE5 exam questions. Read on to find out all the information concerning RE5 exams.
How to pass the RE5 exam
People who have done the RE5 examination before can admit that it is not a walk in the park. Some people do the exam several times before they pass. The RE5 re-examination is a must if you fail because you will not be awarded the RE5 certificate without passing. You must get at least 65%, which is 33 correct questions out of 50.
For you to prepare adequately, you need to go through the Preparation Guide provided by the Financial Services Board. The guide has study materials that will enable you to understand various aspects of the examination. You should ensure that the RE5 study material you get is updated and has the right information. The wrong material will mislead you since you will be making the wrong preparations.
The RE5 exam questions
You are supposed to find out how the questions are set. The examination setting pattern is the same for all the regulatory exams, and the questions are rarely repeated. The RE5 examination papers will never be the same because they are generated from a question bank found in computer systems. By looking at previous exams, you can know the order in which you can handle the questions. The secret to passing is, therefore, to look at as many RE5 exam questions and answers as possible.
You also need to know how to allocate time so that you will have time to answer all the questions correctly. Simple questions like knowledge questions require less time, but the application and analysis questions should be given more time. This is a simple yet crucial aspect of the exam preparation.
How is the RE5 examination structured?
The examination has four sections, as shown below. You are supposed to understand all the four levels for you to pass the RE5 exams. Attending RE5 workshops provided by different institutions such as Moonstone will help you know all the sections.
- The Knowledge section: This section is meant to test the student’s factual knowledge and is also the easiest.
- The comprehension section: It looks at your understanding and interpretation of factual details.
- The application section: This part looks into your ability to apply factual information to daily activities.
- The analysis section: This level looks at your ability to analyze available details so that you can come up with a proper course of action. This section is more complicated than the other parts, so it needs adequate preparation.
Where can you study the RE5 course?
You have the choice of accessing the RE5 qualification through online courses or attending workshops in institutions that offer regulatory exams courses. One such school is the MBSE (Moonstone Business School of Excellence). Apart from the Moonstone RE5 course, you will also find other Moonstone courses meant for the training and development of financial services professionals. You can also find the RE5 workshops at Integrity Academy and other institutions. The RE5 workshops take up to two days or more.
If you want to access the RE5 online study material, you should find a trusted website like Juta. Juta provides technology-based books in various fields such as Accounting, Marketing, Business Management, among others. You will have to pay a small fee for you to access the study materials. You also need Juta login details after registering for you to access the RE5 study materials on the website.
Where do you register for the RE5 exams?
Moonstone is a famous center for RE5 exam registration in South Africa. There are other centers where you will get to register. You can also get registration assistance when you attend RE5 workshops. You need the following documents for you to register for the Representative Exam 5.
- Valid identification or passport number
- Contact information
- Professional information
- FSP number
Where do you register for the RE5 exams?
Moonstone is a famous center for RE5 exam registration in South Africa. There are other centers where you will get to register. You can also get registration assistance when you attend RE5 workshops. You need the following documents for you to register for the Representative Exam 5. Valid identification or passport number Contact information Professional information FSP number
The RE5 examination dates and venue 2020
The previous examination dates have been revised due to the outbreak of Covid-19 in South Africa. All students are required to visit the Moonstone website for clear updates on the venue and examination dates.
What is the cost of the RE5 exams?
The cost of the RE5 examination is regulated and set by the FSB (Financial Services Board) in the country. You are required to pay around R1226 to sit for one exam. Re-examinations will also cost you the same amount of fees. Those attending the RE5 workshops will incur other costs