RE5 Topic 5 Quiz 1

Pamela is a representative for a Financial Services Provider and appears on the register of representatives. Which of the following changes to her circumstances must be reported to the registration department of the Financial Sector Conduct Authority?

• i.Completion of her first module of the Certificate in Financial Products.
• ii.Completion of each direct and on-going supervision event.
• iii.Completion of the regulatory exams.
• iv.Addition of product categories and start date thereof.

In terms of a representative which one of the following statements best describe the role of the Authority in the appointment process?

Which of the following statements regarding the fit and proper requirements for representatives are incorrect?

• i. Representatives appointed between 2011 and 2012 can opt to either meet the 30/60 requirement or have a recognised qualification.
• ii. Representative must complete the class of business training within 6 months of date of first appointment.

• iii. Representatives providing intermediary services in respect of Tier 1 financial product are exempted from the continuous professional development requirements.
• iv. Representatives providing ordinary financial services in all product categories must complete the product specific training before appointment as representative.

FSP A provides advice in long term insurance and wants to appoint John as representative. Which of the following experience John has can be considered in terms of the FAIS Act?

Which one of the following statements with regard to the submission of CPD evidence by representatives is correct?