RE5 Practice Exams & Answers

What each RE5 practice paper looks like

Each of the three papers is a full-length RE5 practice exam written in the same multiple-choice style the FSCA-approved exam body uses, so nothing about the wording surprises you on the day. Questions are spread across all eight RE5 tasks rather than clustered in the easy sections, which means every paper gives you a realistic picture of where you actually stand.

Give yourself the same two hours you get in the real exam, work through the paper without your notes, then mark it against the memo. Anything under 65% tells you which task to go back to before you book.

• Paper 1 leans towards the FAIS Act, the licensing of financial services providers and the duties of a representative
• Paper 2 leans towards the General Code of Conduct, disclosure requirements and record keeping
• Paper 3 mixes everything, including the FIC Act, complaints and the FAIS Ombud, so it works well as your final dress rehearsal
• A full answer memo for every paper, with the reasoning behind each correct option

How to use three papers over two weeks

Students who pass on the first attempt almost never write all three papers in one sitting. Space them out: Paper 1 at the start of your revision to expose your weak tasks, Paper 2 about a week later once you have reworked those tasks, and Paper 3 in the last few days before you write.

Keep a simple list of every question you got wrong and the task it came from. If the same task keeps appearing on that list, that is where your remaining study time belongs — not in the sections you already score well in.

Where RE5 candidates usually lose marks

• Confusing the duties of a representative with the duties of a key individual or the FSP itself
• Time frames — how long records must be kept, and how quickly disclosures and complaints must be dealt with
• Which disclosures must be in writing versus which may be given verbally and confirmed later
• Fit and proper requirements, debarment and the consequences of acting outside your mandate
• Reading only half the question: RE5 papers often ask which statement is NOT correct