The table below indicates who has to successfully complete the Regulatory Exams by 30 June 2018.
| Representatives’ DOFA | RE 5 Deadline |
| 30/06/2015 – 31/12/2015 | 30/06/2018 |
| 01/01/2016 – 29/06/2016 | 30/06/2018 |
| 30/06/2016 – 31/12/2016 | 30/06/2019 |
DOFA refers to your date of first appointment. For instance, if you were appointed on 1 September 2015, you actually have two years and nine months in which to pass the RE 5 for representatives. If your DOFA is prior to this, and you have not been exempted by the FSCA from passing the REs, you are actually operating illegally, which could have dire consequences for you AND your employer.
Unfortunately, time is now running out for those who are compelled to pass in less than one month.
- Remember that bookings close about two weeks before the actual exam, for logistical reasons.
- In order to write before the DOFA deadline (last exam in June on the 29th), candidates should register by 14 June 2018.
IMPORTANT: It is the responsibility of the candidate to make sure that he/she is registered for the correct examination, date, time and venue.
position of management assistance
KIndly elaborate.
I’ve written 8n times already through FPI and failed it but my marks are so weird its like a pattern, one would swear these ppl are scamming us to jus keep paying cause we cannot have any access to our papers after writing so we have no idea where do we go wrong.
FPI confuses u rather than make you understand the legislation it make s you feel stupid for someone who has not once failed in her life RE takes the cake!
Thanks to that I AM LOOSING MY JOB!
Please see my response to your comment on another question below.
FPI ARE SCAMMERS
IS MOONSTONE PAPERS ALSO JUST MADE TO CONFUSE ONE AND MAKE YOU FEEL STUPID RATHER THAN MAKE YOU UNDERSTAND?
IVE WRITTEN 8 TIMES THROUGH FPI AND MY RESULTS ARE IN PTTERNS THESE SCAMMERS
Hi Samantha. I can understand your frustration, having attempted on so many occasions. Firstly, please note that all the questions come from a central data bank controlled by the Financial Sector Conduct Authority (FSCA). All exam bodies use the same questions. In instances where candidates fail, we at Moonstone provide you with information regarding where most of your errors occurred, helping you to focus on where to focus your studies. Please bear in mind that the examination bodies only present the exams. All rules and regulations are made and applied by the FSCA. Queries such as these should therefore be addressed to the Authority.
I agree with Samantha on her comments you feel stupid for not being able to pass this exam. Ridiculous that SBSA staff must still comply but other banks staff no longer need RE5. Explain that one so I can understand plse. And now fpi is under investigation??? How many times did I write with them? 62 and 60% again. Mxm
Unfortunately I cannot speak on behalf of your employer. It is understandable that one feels disappointed after having failed. Just remember, it is a professional exam, and very tough, so their is no need to think badly of yourself. Many people have failed the first time. What is important is that you reconsider how you approach it the next time. We provide candidates who failed with a brief summary of the areas where they made the most mistakes. This helps you study in a more focused manner. We are also in the dark as far as what happened at the FPI, and cannot comment on that.
How will the test guarantee me better chances of employment in the financial sector
Depending on which sector you join, you will be obliged to pass the regulatory exam within two years of date of first appointment in the financial services industry. Many employers actually require that people pass the exam in order that they know their legal obligations when they start.
Good Day
I do not know which one to right, my own ambitions( Investment Manager) make me think I need RE 1 however as I am in employment, RE 5 is recommended. So I wish to know if I write RE 1, will I still be required to write RE 5?
Unfortunately, passing the RE 1 for key individuals does not exempt you from passing the RE 5 for reps. If your employer requires that you write the RE 5, then that is what you should do, and consider the RE 1 as part of your development plan towards becoming an investment manager.
I missed date to write RE5 as it is 30 June 2018.
So i want to know when is the next date?
Please contact our call centre at FAISEXAM@moonstoneinfo.co.za for the latest schedules.
Hi Paul I resigned on 28 February 2012, more than six years ago from the Financial sector,I wrote my RE exams in 2006 and thereafter I worked in a role where I was not giving advice.I am planning on returning to the Financial sector.Do I need to have my RE exams before I can be appointed?
Hi Vivienne. If you have been out of the industry for more than 5 years, you are regarded as a new entrant and have to comply with current requirements. Provision is made, however, for new entrants to work under supervision whilst obtaining the required experience, qualifications and RE 5 (within 2 years). Please see above how your date of first appointment (DOFA) impacts on the RE requirement. Effectively then, in answer to your question, you do not need to have passed the RE 5 before being appointed. This does not, however, apply to others who have not had a 5 year break in service.
Good afternoon
I would like to find out if obtaining an RE expires. That is, if I have passed RE5 in June 2016 and I have not worked since, would this qualification expire at some point? Should I be employed in say 2020, will this qualification still be valid?
Kind regards
Maureen
Hi Maureen. The RE 5 is not a qualification, and will not expire. All that may happen is that new legislation may replace fAIS by 2020, and become a requirement for new appointees at that time.
I need to know where we standing with our results since I wrote through Fpi, since they are being investigated , how are the chances to get the accurate information, I’ve written 7 times and this looks like a money making scam. Also confusion with Dofa, letter of appointment was signed i n August 2016, why deadline is stated to be 30 June yet the 2 yrs9 month has not expired?? Please provide clarity.
Hi Hlengi. Thank you for your interesting questions. Until the Authority have finished their investigation into the matter, nobody will be in a position to comment on what happened at the FPI. I doubt, however, that it will impact on results of people who have failed. Concerning DOFA, the following applies in your particular case: You were appointed in August 2016 and have to complete your RE 5 in the month of June after two years of service. In other words, your two year period expires in August 2018, and then you still have until June 2019 to pass the RE 5. Someone who was appointed a year earlier, in August 2015, would have until June 2018 to pass the RE. Those are the ones we are referring to in terms of the 30 June deadline. Let me know if this answers your questions?
Good day
I also need advise…
I wrote RE5 twice already first time 54% and the second time 56% (Almost there)… I wrote through FPI.
Moving forward I am in a NON Fais role currently, I heard from colleagues that it’s more difficult to pass RE with Moonstone compared to FPI, is there really a difference?
Also how do I prepare for the new legislation on RE, and also with Moonstone.
Who can I contact to assist me with the new learning material, and the schedule?
Thank you for some interesting questions, Marian. It must be heart-breaking to get so close and not make it. Ah, if rumours were money I would be rich. The two examination bodies both draw their questions from the same databank held by the FSCA, so it is impossible for the one’s exams to be more difficult that the others. Often, people would write with one body, fail, and then write with the other. Because they now know what the exam entails, and having studied again, they pass. Such people would be inclined to say A or B offers easier exams. Unfortunately, not.
The Inseta material has not been revised and offers candidates an easy to read version of the facts they need to know. We recommend that readers use the actual FSCA Preparation Guide to understand what the exam entails, and then the learning approach recommended in the preparation guide to study the actual legislation. This appears in our newsletters every week, and is also available on our website. I will forward your enquiry to our FAIS Exam department to discuss your last question with you.
Good Day
This is really frustrating since FPI is now under investigation leaves only Moonstone as an exam body.My Deadline date is 30th June 2018 and there’s no available dates. Theres an influx of candidates and Moonstone is unable to accommodate us.Seen this such a crucial period for many of us that need our Jobs , Moonstone should step up and get more venues for us to write.People are travelling from one province to another. Who would have expected the legislation to change , making it more complicated in the last two months that we have…We need for more dates in KZN ,my last paper was on the 15th June and i did not get it , and i called on Friday to make a booking just incase but was told next booking in JULY.This does not help us , because of the deadline date…
Thank you for your comprehensive enquiry, Kesh. We have taken over all the FPI exam venues, which means that those who elected to work through the FPI now have substantially more venues to choose from to write exactly the same exam, as explained below. Electronic bookings have closed for June, but if you phone our call centre on 021 883 8000, they might still be able to help you. We have been warning candidates for years now not to leave writing until the very last, leaving you with little options in case you are unsuccessful at the first attempt.
morning Paul I would like to find out if you have missed the deadline can u still right regardless if u would still like to do ur Re5
Absolutely. Click on this link to access dates and venues that are available after 30 June 2018. https://www.moonstone.co.za/upmedia/uploads/library/Regulatory%20Exam%20Library/RE%20Venues%20and%20Schedules/2018%20Exam%20Schedule.pdf
I have checked the dates my question is can one still write regardless of the deadline dates
The deadline only applies to those who have to pass by 30 June. If this applies you, please phone our call centre on 021 883 8000. They will try and accommodate you.
Good Day Sir
My DOFA is 2016-08-01 and my company says that I’m Due 2018 june 30.i have been given a letter that my service will be terminated if I dont pass this month.what should I do about this?
We can unfortunately not prescribe to employers what they should do, but I suggest you ask your supervisor to phone our our RE department on 021 883 8000 to confirm the actual final deadline. My understanding is that if you are appointed on 1 August 2016, you have until June 2019 to write and pass the RE 5.
Please advise ,should you not write by the deadline date ,will your name be removed from DOFA or what are the repercussions?
A representative has two years from date of first appointment (DOFA) to write and pass the RE 5. If he does not do so, his key individual is obliged to remove him from the rep’s register. Such a person will then not be allowed to do business until such time as he or she complies with this requirement.
Thank You Paul
Good day Paul.
I am confused as to which exam to write.
I used to work at a call centre for an Insurance Company, some of my colleagues who have been employed for much longer were required to write the RE.
My question is which RE am I required to write since well I want to return to the Financial Industry?
I have a desire to work at a bank this time so I am not sure which RE qualification is required.
And also how will the RE better my chances of getting employment in finance
Hi Julia. Don’t worry, most of us are confused at one time or another. You would probably need to write the representative regulatory exam, RE 5. the RE 1 is for “managers” or better known as Key Individuals. Whether you have to write it or not will depend on the type of work you do, and the products involved. Your date of first appointment at the call centre will determine by when you need to write and pass the RE 5. If you have already passed it when applying for a job, it will certainly enhance your chances, as it means one less obligation to comply with after appointment.
Good Morning Paul how do we get in touch with moonstone after a failed exam?>
Hi Stan. Please phone us on 021 883 8000 or email to FAISEXAM@moonstoneinfo.co.za. If urgent, please phone. Maybe we can make a plan.
Hey Paul Tumelo Here It’s Going to be my first time attempting to write an RE5 exam I hear people say it’s quite a difficult examination I don’t know if maybe you might give me advice one what topics to like focus on I heard one talking about legislation being the top priority is the anything I should look out for too and I need to put more effort in and study more for perhaps thanks
Regards:
Tumelo
Good day. Moonstone has produced a series of videos on how to prepare for the RE exams. Click here https://vimeo.com/showcase/regulatory-exam-preparation