Financial services firms are hiring representatives now, and you need the RE5 examination to meet the regulator’s requirements. Getting it right this year can keep your career path moving forward.
What is the RE5 examination?
The RE5 is the Regulatory Examination for Representatives in all Categories of Financial Services Providers (FSPs). The Financial Sector Conduct Authority (FSCA) says the test has 50 multiple‑choice questions and a 65 % pass mark – you must answer at least 33 correctly. It checks that you understand the legislation and rules that apply to your role.
Who must write RE5?
It is required for representatives in any FSP category, unless you fall into a specific exemption such as:
- Representatives who only sell certain funeral or friendly society benefits;
- Those handling only Tier 2 products;
- Execution‑only sellers of Tier 1 products.
If you are not sure, ask the FSP that wants to appoint you or contact the exam body before paying any fee.
What you gain
- Proof that you know the FAIS Act, its regulations and other relevant statutes.
- Eligibility to be appointed as a representative under the FSCA’s Fit‑and‑Proper requirements.
- Credibility with employers and clients in the financial services sector.
- A solid foundation for future specialised licences or certifications.
How to apply for the RE5 in 2026 – step by step
Step 1 – Confirm RE5 is the right exam
Do not register just because a job ad mentions “RE5”. Verify with your future employer that the representative role you are offered needs this specific exam.
Step 2 – Gather your details
Make sure you have:
- Your South African ID number or passport number (a passport can be used if you have no ID).
- The FSP number of the firm that will appoint you.
- Full personal and contact information.
- Professional details relating to insurance, banking or investment work.
Step 3 – Register through the official examination body
The FSCA directs candidates to Moonstone for registration. Their regulatory examination library contains the forms, fee schedule and exam dates.
Official registration link: Moonstone Regulatory Examination Resources
Step 4 – Choose the correct exam and date
During registration, double‑check that you are selecting RE5, not RE1 or another exam. Review the available dates, venue (or online option), fees and any conditions. These details can change, so confirm them at the time of registration.
Step 5 – Pay the legislated fee
The fee is set by law and the current amount is listed on the Moonstone site. Do not rely on old blog posts or social‑media screenshots for the price.
Tips to improve your chances
- Read the latest FSCA preparation guide (dated 17 January 2026) – it lists the exact legislation you must study.
- Focus on definitions and regulatory terms in the FAIS Act and its subordinate regulations.
- Use practice questions that match the four‑option multiple‑choice format.
- Confirm the training provider’s material is up‑to‑date; the FSCA does not accredit any provider automatically.
- Check all personal details are correct before you submit the registration – a typo can delay communication.
- Plan your study schedule so you can cover all required statutes before the exam date.
- Remember that passing RE5 is only one piece of the Fit‑and‑Proper assessment; honesty, competence and experience are also examined.
Final thoughts
Passing RE5 shows you meet an important regulatory hurdle, but it does not guarantee a job or an FSP licence. Treat the exam as part of a broader professional journey. Start by confirming the requirement, register through Moonstone, study the newest FSCA material, and keep your information accurate.
Official sources you may need: