RE 5 Topic 5 Quiz 3

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Question 1 of 5

1. Question
Which one of the following statements with regard to the status of a representative is correct?
- A. The representative is authorised by the Authority to provide a financial service.
- B. The representative is licensed by the Authority to provide a financial service.
- C. The representative is authorised by the FSP to provide a financial service.
- D. The representative is licensed by the FSP to provide a financial service.
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Question 2 of 5

2. Question
Trevor is a 22-year old male and a representative of Atlantis Advisors. In which of the following instances must the register of representative be amended?
- A. Trevor gets married.
- B. Trevor moves to another apartment.
- C. Trevor complete the first year of his Bcom degree.
- D. Trevor complete his class of business training.
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Question 3 of 5

3. Question
Manny is a 42-year old male and a representative of Atlantis Advisors. Which of the following circumstances must Manny report to his key individual as this has an influence on his honesty, integrity and good standing?
- A. Manny’s partner was dismissed at her place of employment and Manny is currently experiencing financial difficulty. He received two credit judgements in the last six months.
- B. Manny was previously appointed as key individual for Amazing Advisors. Amazing Advisors license has been withdrawn for dishonest behaviour 18 months after Trevor resigned as key individual.
- C. After Manny’s Matric Farewell in 1994 him and a few of his friends drove to a party and Manny was found guilty of drunk and driving.
- D. Manny’s authorisation as key individual with Amazing Advisors was withdrawn as he did not pass the regulatory examination requirement for key individuals within the stipulated timeframe.
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Question 4 of 5

4. Question
Mega Makelaars is an FSP authorised to provide advice in terms of long-term insurance B2 and C. The following persons has applied for appointment as representative. Which one may be approved and registered as a representative of Mega Makelaars not working under supervision? (Only consider the competency requirements)
- A. Tommy holds a matric certificate and has 3-year experience in selling life policies for a local insurer. He is yet to pass his RE5 but has completed his class of business training.
- B. Timothy holds a Bcom degree in economics and has 18 months experience in selling endowment policies locally. Timothy has passed his RE5 but is still to complete his class of business training.
- C. Norris has over 15 years’ experience in selling motor vehicle insurance for a local insurance company. He holds 60 credits and passed his RE5.
- D. Norman has 12 months experience in selling unit trust. Norman is a certified financial planner, passed his RE5 and completed his class of business training.
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Question 5 of 5

5. Question
A representative must complete a recognised qualification. A recognised qualification is approved by which of the following institutions?
- A. The Financial Sector Conduct Authority (FSCA)
- B. South African Qualifications Authority (SAQA)
- C. The relevant industry SETA’s
- D. Quality Council for Trade & Occupations (QCTO)
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RE 5 Topic 5 Quiz 3

RE 5 Topic 5 Quiz 3

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RE 5 Topic 5 Quiz 3

RE 5 Topic 5 Quiz 3

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