Re5 First Level Regulatory Exam Support Representatives Factsheet

FIRST LEVEL
REGULATORY
EXAM
SUPPORT FOR
REPRESENTATIVES
QUALIFICATION:
FIRST LEVEL
REGULATORY EXAM
SUPPORT FOR
REPRESENTATIVES
Representatives Category I,
Category II, Category IIA,
Category III and Category IV
(RE 5)
MODE OF DELIVERY:
DISTANCE LEARNING
PARTNERING WITH YOU ON YOUR FP&I LEARNING JOURNEY
PROGRAMME DESCRIPTION  Adhere to the specific Codes of Conduct.

The first level Regulatory Examination (RE) is one of the  Comply with regulated record-keeping requirements.
competence requirements in terms of the fit and proper  Comply with the requirements of the FIC Act and
regulations of the FAIS Act. The regulatory examinations aim Money Laundering and Terrorist Financing control
to test knowledge in relation to the FAIS Act, subordinate regulations, as it applies to FSPs.
legislation, codes of conduct and legislation relevant  Deal with complaints that have been submitted to the
to money laundering. All financial services providers, Ombud for FSPs.
representatives and key individuals are impacted by these  Operate as a representative in terms of the FAIS Act.
examinations, which are conducted by approved examining
bodies. 2. Three electronic practice examinations
A unique username and password will be allocated to
Milpark Education offers various support options for the students after completion of the registration process;
regulatory examinations. You may select any option, or a these will allow students three opportunities to practise
combination of options, to suit your individual need. with questions similar to those of the official FSCA
examination. These examinations will be web-based
and students will be able to access the examinations via
OPTIONS OFFERED a standard browser within a 12-month period. Students
1. Study material selecting the three electronic practice examinations will
Study material will be offered in the user-friendly Milpark be issued with a username and password.
format and will be couriered to you upon completion of
the registration process with Milpark. The content of the Sufficient preparation time should be allowed to study
study material covers the following eight key topics as before attempting the practice examinations. They will
prescribed by the FSCA: provide excellent preparation for the actual examination.
 Demonstrate understanding of the FAIS Act as a
regulatory framework. 3. Two-day online workshops
 Contribute towards maintaining an FSP licence. Milpark offers online workshops on request for groups
 Define the role of the key individual in terms of the of 12 or bigger. These workshops focus on examination
FAIS Act. techniques (the approach to multiple-choice questions) as
AN EXTRAORDINARY LIFE
well as the content of the selected regulatory examination. DISCLAIMER
For corporate clients (minimum of 12 students) or small The content of this brochure is accurate at the time of going
brokerages/groups (minimum of 12 students), these to print. Milpark Education reserves the right to change the
workshops can be tailored and offered at convenient programme content due to changes in legislation, market
times across South Africa. It is imperative that students requirements and other reasons. Notice of such changes will
have prepared thoroughly for the workshop by working be published on our website.
through the material before attending the workshop.
Students who select the workshop option will also have

access to a tutor service where individual questions can
be posed and answered.
It is imperative that students bring the RE training material

or copy of the Acts to the training session.
4. Four-week online course

The course has been carefully structured into a four-
week programme that breaks up the eight tasks (listed
in 1 above) and associated qualifying criteria required
for the exam into small, manageable portions. During
each week of the programme, students will view video
recordings of important concepts relevant to that week’s
tasks, cover sections of the study material, and actively
engage in their learning and preparation by completing
multiple self-assessment quizzes that provide feedback
to assist in identifying that week’s problems and further
areas for development. The course focuses on both the
content required in terms of each of the tasks and on
examination techniques, i.e. the approach to answering
multiple choice questions.
This online course provides all study material in electronic

format; however, students can order a printed and bound
copy from Milpark Education.
RESEARCH UNDERTAKEN
While acknowledging that historical results are no indicator
of future performance, Milpark researched results from
numerous FAIS-related modules written with Milpark since
2006. Our research clearly indicates that, despite high quality
materials, a tutor help-line and numerous self-test questions,
students struggle without face-to-face interventions being
provided. Throughput rates have increased significantly when
students attended workshops offered by Milpark; it is thus
our recommendation that one of the workshop offerings be
selected.
ABOUT THE SCHOOL

Milpark Education offers a range of HEQC-accredited higher
education qualifications. The qualifications range from a DBA,
MBA, six postgraduate diplomas, a BCom and a Bachelor of
Business Administration to various certificate and diploma
programmes. Class of Business certification is available as
well as a number of CPD short courses.
ENQUIRIES: 086 999 0001

enquiries@milpark.ac.za (Students wanting to register)
AN EXTRAORDINARY LIFE support@milpark.ac.za (Admin/support related queries)
PARTNERING WITH YOU ON YOUR FP&I LEARNING JOURNEY.
WWW.MILPARK.AC.ZA

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FIRST LEVEL

PROGRAMME DESCRIPTION  Adhere to the specific Codes of Conduct.

Students who select the workshop option will also have

It is imperative that students bring the RE training material

4. Four-week online course

This online course provides all study material in electronic

ABOUT THE SCHOOL

ENQUIRIES: 086 999 0001

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