RE

Topic 5- Fit and Proper Requirements

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 Circle the correct Answer

1. Choose the CORRECT one. The Fit and Proper requirements for an FSP is;
a) Personal Character qualities of Honesty, Integrity, Good standing, Experience,
Operational ability and Financial Soundness
b) Personal Character qualities Honesty, Integrity, Good standing, Experience,
Operational ability, Financial Soundness and RE Examinations
c) Personal Character qualities Honesty, Integrity, Good standing, CPD Activities,
Operational ability and Financial Soundness
d) Personal Character qualities Honesty, Integrity, Good standing, Operational
ability and Financial Soundness

2. What is the time period a Representative working under supervision has to

complete their full qualification
a) 24 months
b) 72 months
c) 5 years
d) 2 years

3. Choose the CORRECT one. A Representative is appointed after 1 August 2019.

By when must the Representative complete the Class of Business Training
a) Prior to being appointed in the role of a Representative
b) By 1 August 2020
c) 12 months from DOFA (Date of first entry)
d) By 1 April 2020

4. True of False. One cannot obtain CPD Hours for Product Specific Training
a) True
b) False

5. When is the CPD Cycle?

a) 1 May to 30 June of each year
b) 30 June to 1 May of each year

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 c) 1 June to 31 May of each year
d) 30 June to 30 May of each year

6. Mary is a representative who renders financial services in more than one

subclass of business within a single class of business. How many CPD hours does
Mary need to obtain?
a) 18 hours
b) 12 hours
c) 6 hours
d) 8 hours

7. Choose the CORRECT one. Key Individuals in Category IIA need to complete the
following RE Exams.
a) RE1 and RE5
b) RE1 and RE4
c) RE1 and RE3
d) RE1

8. Choose the INCORRECT one? A Key Individual must have the adequate and
appropriate experience to manage or oversee the activities of an FSP
a) A KI of Category 1FSP must have at least 1 year experience in the management
and oversight of a particular financial services
b) A KI of Category II must have at least 1 year experience in the management or
monitoring of category II of financial services
c) A KI of Category IIA must have at least 1 year experience in the management or
oversight of category III of financial services
d) A KI of Category III must have at least 1 year experience in the management or
oversight of category III of financial services

9. Choose the INCORRECT one. Class of Business Training exempt for

Representatives working with;
a) Long-term insurance A products
b) Friendly society Benefits

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 c) Tier 2 products
d) Long-term insurance B products

10. Sipho was appointed a Representative on 1 July 2019, by when must Sipho
complete his RE5 exams?
a) 1 July 2021
b) 30 June 2022
c) 1 July 2022
d) 30 June 2021

Total 10 Marks

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