RE 5 Topic 5 Quiz 2

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Question 1 of 5

1. Question
ABC Couriers is to act on behalf of the South African Post Office, an authorised FSP, when providing advise to clients with regard to parcel insurance. Which one of the following statements with regard to the authorisation of ABC couriers is correct?
- A) ABC Couriers must be licensed as 3rd party FSP to the Post Office.
- B) ABC Couriers must register with FSCA as a 3rd party representative.
- C) The post office must register ABC couriers as a juristic representative.
- D) No authorisation is needed for ABC couriers to perform this function.
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Question 2 of 5

2. Question
Choose the incorrect option. Medi Brokers is an FSP authorised to provide financial services in terms of hospital plans. Which of the following details must be contained in the register of representatives if the representative is a natural person?
- A) The broker accreditation number issued by the Medical Schemes Council.
- B) The details of the key individual of the representative.
- C) Work address for the representative.
- D) Mobile phone number of the representative.
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Question 3 of 5

3. Question
What is the maximum fine FSCA can impose for late submission of the amended register of representatives?
- A) R1 000 in total.
- B) R1 000 per day.
- C) R1 000 per day per change.
- D) R1 000 per day per change plus interest.
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Question 4 of 5

4. Question
Pro Brokers is an authorised FSP and is in the process of appointing a representative. Sandy is one of the possible candidates. However, Sandy indicated on the application form that 15 years ago she had her membership with the Financial Planning Institute cancelled. How will this information impact Sandy’s application?
- A) This will not impact on Sandy’s application as the event transpired more than 5 years ago and thus, does not impact on honesty & integrity.
- B) Pro Bokers are not permitted to appoint Sandy as representative as she does not meet the requirements pertaining to honesty & integrity.
- C) The commissioner must evaluate the circumstances surrounding the event and then make a final decision considering the status of Sandy.
- D) The key individual of Pro Brokers must evaluate the circumstances surrounding the event and then make a final decision considering the status of Sandy.
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Question 5 of 5

5. Question
David holds a matric certificate and is registered as a representative of Pro Brokers to provide scripted execution of sales by telephone. How long does David have to comply with the regulatory examination requirement?
- A) David does not need to comply with the regulatory examination requirement.
- B) David has 12 months from date of first appointment to comply with the regulatory examination requirement.
- C) David has 2 years from date of first appointment to comply with the regulatory examination requirement.
- D) David has 6 years from date of first appointment to comply with the regulatory examination requirement.
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RE 5 Topic 5 Quiz 2

RE 5 Topic 5 Quiz 2

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RE 5 Topic 5 Quiz 2

RE 5 Topic 5 Quiz 2

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