RE 5 Topic 6 Quiz 3

Which one of the following statements best defines a supervised representative?

Which of the following requirements need to be met when a representative is supervised?

Which of the following statements with regard to the supervision arrangements are correct?

i. Category I representatives that is appointed only to perform the execution of sales must have a Grade 10 or academic achievement equivalent to Grade 10 before being placed to render services under supervision.

ii. An FSP that appoints a supervised representative to work under supervision must ensure that such appointment does not materially increase any risk to the FSP.

iii. An FSP that appoints a supervised representative to work under supervision must annually review the appropriateness, effectiveness and adequacy of the supervision arrangements.

iv. The supervisor must determine the criteria and procedures to assess whether it is appropriate for a supervised representative to work under a reduced level of intensity of supervision.

Please complete the sentence. When a supervised representative meets all the competence requirements, the representative has to comply with CPD requirements-

Which of the following records, information and documentation, related to supervision, are not required to be kept by the supervisor that provides oversight of services performed under supervision in terms of the FAIS Act?

i. Records relating to supervision activities.

ii. Proof of all qualifications completed by the representative.

iii. Records relating to the decisions to implement a reduced level of supervision.

iv. The representative register reflecting representatives under supervision.