The Financial Advisory and Intermediary Services (FAIS) Act governs and guides how a financial service provider (FSP) should conduct business activities and everyday relations with its customers. All FSPs who give advice or provide intermediary services to customers are regulated by the FAIS Act.

It is therefore important for all FSPs to comply with this legislation the relevant fit and proper requirements outlined in the Act.

As a current employee within an FSP or a party that is interested in possibly working within a FAIS regulated environment, this course will help you prepare for your First Level Regulatory Examination (RE5).

To be fully prepared for your upcoming exam, we recommend that you do a few learning steps every day to help build long-term knowledge retention.

Recommended Course Duration: 5 weeks
Number of Lessons: 12

Course Outline

Topic 01: Required actions of key FSP role players
Topic 02: Requirements relating to Marketing and Advertising
Topic 03: Maintaining an FSP license
Topic 04: (Part 1) Adhering to specific obligations
Topic 04: (Part 2) Adhering to specific obligations
Topic 05: (Part 1) Fit & Proper requirements for FSP
Topic 05: (Part 2) Fit & Proper requirements for FSP
Topic 05: (Part 3) Fit & Proper requirements for FSP
Topic 06: Applying knowledge of Financial products
Topic 07: Debarment
Topic 08: Aligning execution of duties with the compliance requirements
Topic 09: Adhering to the requirements of FICA and AML
Topic 10: Carrying out the proper record -keeping activities
Approximate Number of questions: 429 questions

Approximate Number of videos: 10

Why take a FAIS-RE5 exam?

To ensure that clients receive sound financial advice and services and products tailored to their individual needs, the Financial Advisory and Intermediary Services (FAIS) Act requires that only competent and qualified persons render services and give advice. An untrained representative of a brokerage should never be allowed to give advice, hence the requirement that an advisor is FAIS accredited. You must have a current FAIS accreditation to work in the finance and insurance sector.