15 Mar 2025

RE5 Exam Question

Thuli is a newly appointed representative at a brokerage firm. She has not yet passed her RE5 exam but is already advising clients on short-term insurance products without any oversight. Which FAIS requirement is MOST LIKELY being violated?

a. Representatives can advise clients before passing the RE5 as long as they are honest.

b. Representatives must be under supervision until all competency requirements are met.

c. Only the FSP, not the representative, is liable for non-compliance.

d. Supervision is not necessary for representatives dealing in insurance.