These are competency exams for individuals that are looking at advancing their careers in the financial industry, they are a fit a proper standard requirement as per the FAIS Act.
Furthermore, they help you gain knowledge and understanding regarding the legislation governing the role and responsibilities of Key Individuals and Representatives under the FAIS Act
RE1 is intended for FSP's, Key Individuals and Compliance Officers in the financial industry; whom are responsible for managing and overseeing a business relating to the rendering of financial services for FSPs in Category I, II, IIA, III and IV whereas RE5 is for all representitives that offer financial services (most common competency taken).
Key Individuals whom also serve as Representitives are required to write and attain competency in both RE1 & RE5.
No requirements! You only need a valid ID or passport.
No, Eaglenest Academy is only a tutoring services provider, we only help you prepare for the exam and your new career.
To register for the exam, refer to Moonstone website.
The exams are in multiple choice format, which consist of 4 possible options, but with one correct answer. Only a pencil may be used to complete the exam.
RE1: has a passmark of 65%, attainable from 80 questions - which would mean that you need to get 52 out of the 80 questions correct to pass. This exam is written over 2 hours and 30 minutes.
RE5: has a passmark of 66%, attainable from 50 questions - which would mean that you need to get 33 out of the 50 questions correct to pass. This exam is written over 2 hours.
No, the exams are strictly venue based and require your physical presence - if you ever hear that you can take it online, it is a scam!.
You can check out the venue/schedule for the exams near you here.
Exam Fee: R 1300.00.
Most definetly. We at Eaglenest Academy ensure that we make the content for the exam easily digestable through our training. We currently have a 92% pass rate through the 2023 period to now.
All our clients receive updated study material which includes mock exams and study manuals, this way we are able to test our client’s readiness to sit for exams. We are able to determine which students are ready to write and which students need more time and what sections specifically need more attention. A unique industry offering.
