Study Tips

Re5 Study strategy and exam tips. Sirah Business School.

[Audio] Tip 1. General information about re5.  It is a closed book exam.  It is a 2 hours exam.  The exam is composed of 50 multiple choice questions.  Each question carries 2 marks each, this means you need to spend approximately 2,4 minutes in answering one question.  Take ID book and proof of registration to the exam.  Use the pencil and answer sheet supplied by the Exams .  When you get 33 correct answers you pass the exam, you get 66% out of 100%.  It is composed of 50 questions..

[Audio] Tip 2. re5 Preparation Checklist.  Get ready! Ensure you have the correct and most up to date study material.  Start! Gain understanding-Read through the entire re5 manual to gain understanding, check with others and use re5 glossary of terms to look up for words that you don’t understand.  Conduct detailed study and learning:  Demonstrating general understanding of re5 topics is not enough-the exam is a test of regulations and the wording and requirements in the regulations are exact and carry an exact meaning.  You must be able to quote definitions exactly, list every requirement pertaining to a particular topic, know the precise wording that applies and be able to describe timeframes accurately.  Register for an online course or attend a workshop if necessary to obtain a better understanding of the topics.  Practice answering questions using mock test questions and mock exams, practice applying knowledge and exam technique.  Practise on lesson quizzes to assess how many questions you answered correctly, what type of questions or topics you successfully tackled and identify and address weak areas.  Practice on full mock exams to assess your overall readiness..

[Audio] Tip 3: Reference material –get it right.  FSCA Preparation Guide-it’s free.  There are two elements which comprise the official reference material:  The qualifying criteria provides the basis of knowledge and skills against which the regulatory examinations are set. The qualifying criteria ( on page 33 of the FSCA Preparation guide) was developed in a process of consultation between the FSCA and industry representatives. Only questions based on these criteria will be included in the exams.  This reference material was used in the development of the questions. Please refer to Appendix A in the Preparation Guide for a mapping of criteria to relevant material:.

[Audio] Tip 4: How to use the FSCA Preparation Guide.  Section 1: Page 2 to 16 is a neat summary of what you can expect, including information about the format of the exam, reference material, the different types of questions, how to study, what to expect when writing the exam as well as frequently asked questions.  Section 2: Pages 17 to 49 contain very important information regarding the actual “syllabus” of the regulatory exams. This section is divided in two: Pages 17 to 39 contain the 16 Tasks that key individuals (RE1) will be tested on while Pages 40 to 49 contain those relating to representatives (RE5)..

[Audio] Tip 4: Dissecting the different tasks for re5.  Please take note that most of the questions originate from Chapters 2, 4, 5, and 8.  Chapter 8: operate as a representative in terms of the FAIS Act.  Chapter 2: Contribute towards maintaining a FSP licence.  Chapter 4. Adhere to the Specific codes of conduct.  Chapter 5: Comply with regulated record keeping requirements.  Also take note of Chapters 7; Dealing with complaints that have been submitted to the Ombud for FSPs..

[Audio] Tip 5: Dissecting the different types of questions Each exam will contain questions at 4 different levels of complexity:  Knowledge: Testing your recall of factual knowledge.  Comprehension: Testing your understanding and interpretation of factual knowledge and concepts.  Application: Testing your ability to apply factual knowledge to real life situations.  Analysis: Testing your ability to analyse factual knowledge presented as case studies and to present the best action to take..

[Audio] Tip 6: Dissecting the actual question paper  In the RE5 for reps, 35 of the 50 questions are taken from levels 1 and 2. This constitutes 70% of the questions.  Questions 1 to 18 are knowledge and comprehension questions, as are questions 35 to 50.  Some candidates prefer to attempt these generally shorter style questions first, while their brains are still fresh, and then tackle the generally longer style questions from 19 to 34.  Also bear in mind that a longer type of question takes more time to read and consider, yet a right answer will still only score one point.  Note Well: Take great care to mark your answers correctly if you follow this approach..

[Audio] Tip 7: Popular question topics. In addition to having thorough knowledge, good preparation and strategy, note the following popular question topics and concepts:  The General Code of Conduct – more questions are asked on this section than any other – know all details very well.  Advice and intermediary services – vey popular – know it well.  Undesirable business practices – very popular – know it well.  Debarment – very popular – know it well.  Record keeping – very popular – know it well.  Fit and proper requirements – very popular – know it well..

[Audio] Tip 8: Self discipline, Preparation, Self confidence. Sirah business school input – a short list of 3 things you must improve on everyday. These 3 things will also help you in your preparation for re5 exams and in becoming a successful representative in financial services. 1. First – self confidence: Where does self- confidence come from? It comes from not neglecting the small daily disciplines. Self-confidence comes from really feeing good about yourself. One of the things that will make you feed good about yourself is that at the end of the day you know that you did your best. If you were studying for re5, you did your best in covering the study material for the day. 2. Preparation 3. Self-discipline.