The RE5 exam: cost, app, dates, study material, how to prepare
The RE5 exam is a FAIS regulatory exam that should be taken by all the representatives who offer financial services, such as employees or those mandated by the FSB (Financial Services Board). You are required to pass the exam to be awarded the RE5 certificate. Students that fail any FAIS Regulatory Examinations (RE) are supposed to rewrite the examination until they pass.
Source: UGC
The secret to passing the RE examinations is adequate preparation by going through the FSB Preparation Guide and looking at previous RE5 exam questions. Read on to find out all the information concerning RE5 exams.
What is the RE5 exam?
The RE5 is an examination that should be taken by representatives offering financial services to individuals or companies in South Africa. The FSB (Financial Services Board) specifies who should take the RE5 exams. If you provide financial services in a subordinate position that does not need any financial judgment, you may be excluded from taking the exam. The people who are excluded from taking the examination are those that offer legal, technical, clerical, accounting, administrative, and other services offered at a subsidiary level. You are required to sit and pass the RE5 examination once in your career.
You should also note that the RE5 examination is a Level One examination, which means that its questions are not industry-specific. Individuals can also pursue the RE1 examination, which is intended for Key Individuals and the RE3, which should be taken by the license category two candidates.
How to pass the RE5 exam
People who have done the RE5 examination before can admit that it is not a walk in the park. Some people do the exam several times before they pass. The RE5 re-examination is a must if you fail because you will not be awarded the RE5 certificate without passing. You must get at least 65%, which is 33 correct questions out of 50.
For you to prepare adequately, you need to go through the Preparation Guide provided by the Financial Services Board. The guide has study materials that will enable you to understand various aspects of the examination. You should ensure that the RE5 study material you get is updated and has the right information. The wrong material will mislead you since you will be making the wrong preparations.
Source: UGC
The RE5 exam questions
You are supposed to find out how the questions are set. The examination setting pattern is the same for all the regulatory exams, and the questions are rarely repeated. The RE5 examination papers will never be the same because they are generated from a question bank found in computer systems. By looking at previous exams, you can know the order in which you can handle the questions. The secret to passing is, therefore, to look at as many RE5 exam questions and answers as possible.
You also need to know how to allocate time so that you will have time to answer all the questions correctly. Simple questions like knowledge questions require less time, but the application and analysis questions should be given more time. This is a simple yet crucial aspect of the exam preparation.
How is the RE5 examination structured?
The examination has four sections, as shown below. You are supposed to understand all the four levels for you to pass the RE5 exams. Attending RE5 workshops provided by different institutions such as Moonstone will help you know all the sections.
- The Knowledge section: This section is meant to test the student’s factual knowledge and is also the easiest.
- The comprehension section: It looks at your understanding and interpretation of factual details.
- The application section: This part looks into your ability to apply factual information to daily activities.
- The analysis section: This level looks at your ability to analyze available details so that you can come up with a proper course of action. This section is more complicated than the other parts, so it needs adequate preparation.
Where can you study the RE5 course?
You have the choice of accessing the RE5 qualification through online courses or attending workshops in institutions that offer regulatory exams courses. One such school is the MBSE (Moonstone Business School of Excellence). Apart from the Moonstone RE5 course, you will also find other Moonstone courses meant for the training and development of financial services professionals. You can also find the RE5 workshops at Integrity Academy and other institutions. The RE5 workshops take up to two days or more.
If you want to access the RE5 online study material, you should find a trusted website like Juta. Juta provides technology-based books in various fields such as Accounting, Marketing, Business Management, among others. You will have to pay a small fee for you to access the study materials. You also need Juta login details after registering for you to access the RE5 study materials on the website.
Where do you register for the RE5 exams?
Moonstone is a famous center for RE5 exam registration in South Africa. There are other centers where you will get to register. You can also get registration assistance when you attend RE5 workshops. You need the following documents for you to register for the Representative Exam 5.
- Valid identification or passport number
- Contact information
- Professional information
- FSP number
The RE5 examination dates and venue 2021
The previous examination dates have been revised due to the outbreak of Covid-19 in South Africa. All students are required to visit the Moonstone website for clear updates on the venue and examination dates.
What is the cost of the RE5 exams?
The cost of the RE5 examination is regulated and set by the FSB (Financial Services Board) in the country. You are required to pay around R1,226 to sit for one exam. Re-examinations will also cost you the same amount of fees. Those attending the RE5 workshops will incur other costs for registration, the printed study guide, among other services offered during the workshops.
The above information on the RE5 exam will help you register and prepare well for the examination. Make sure you understand all the details.
READ ALSO: Examination writing skills: Everything you need to know
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Source: Briefly News
