If you are planning to work as a representative in South Africa’s financial services industry, you may come across the RE5 examination as part of the regulatory requirements that apply to representatives.
The RE5 is not a learnership, bursary or short course. It is a regulatory examination for representatives in all categories of Financial Services Providers (FSPs). The Financial Sector Conduct Authority (FSCA) explains that the regulatory examinations were introduced to ensure that people performing regulated roles understand the legislation and regulatory responsibilities relevant to their work.
This guide explains how the RE5 registration process works in 2026, what information applicants need, what the examination covers and what should be verified before registering.
Important: The RE5 is an examination. Passing it does not by itself mean that you are employed, licensed as an FSP, or automatically authorised to provide every type of financial service.
What is the RE5 examination?
The RE5 is officially described by the FSCA as the Regulatory Examination for Representatives in all Categories of FSPs. According to the FSCA’s current FAQ, the examination consists of 50 questions.
The purpose of the regulatory examination is to test knowledge and understanding of the legislation and regulatory requirements applicable to the relevant role.
This is different from the RE1, which applies to FSPs and key individuals in the categories specified by the FSCA. Therefore, applicants should establish which regulatory examination applies to their role before registering.
Who needs to write RE5?
The FSCA states that RE5 applies to representatives in all categories of FSPs, subject to specified exceptions. These include certain representatives dealing only with particular funeral and friendly society benefits, certain Tier 2 financial products, or execution-only sales involving Tier 1 financial products.
This means applicants should not assume that everyone working in financial services needs RE5. Your actual role, appointment and financial products involved can affect the applicable regulatory requirements.
If you are uncertain, confirm the requirement with the FSP that intends to appoint you or with the relevant examination body before paying a registration fee.
RE5 requirements: What information do you need?
The FSCA says applicants registering for a regulatory examination must provide the examination body with certain information.
This includes:
- South African ID number or passport number
- FSP number
- Personal and contact details
- Professional details, such as information relating to insurance, banking or investments.
A useful point for applicants is that a passport number may be used where the applicant does not have a South African ID number, according to the FSCA’s FAQ.
Before starting the registration process, check that your personal information is accurate. Mistakes in identification or contact details can create unnecessary problems when communicating with the examination body.
How to apply for the RE5 examination in 2026
Step 1: Confirm that RE5 is the correct examination
Do not register simply because a job advertisement or training provider mentions “RE5.”
First establish whether your intended role requires the representative examination. The FSCA identifies RE5 as the examination applicable to representatives, while other examinations apply to different regulatory roles.
Step 2: Prepare your information
Have your identification details, FSP information, contact details and professional information available.
If an employer or FSP has asked you to obtain RE5, confirm the FSP number and any other information they expect you to provide.
Step 3: Register through an examination body
The FSCA says regulatory examination registrations can be completed through an examination body and specifically directs applicants to Moonstone for registration information.
Moonstone’s regulatory examination library currently includes RE1/RE5 preparation material, registration information and examination resources.
Official registration information:
Moonstone Regulatory Examination Resources
Applicants should use the current registration instructions provided by the examination body rather than relying on an old social-media post, unofficial website or outdated application guide.
Step 4: Select the appropriate examination and date
During registration, carefully check that you are registering for RE5 rather than another regulatory examination.
Review the available examination dates, venue or delivery arrangements, fees and registration conditions before completing your registration.
These details can change, so they should be confirmed directly with the examination body at the time of registration.
Step 5: Pay the applicable examination fee
The FSCA states that the regulatory examination fee is a legislated fee and directs applicants to the applicable fee information for the current amount.
Do not rely on an old article or social-media post for the current price. Check the latest fee information before making payment.
What is the RE5 pass mark?
The FSCA states that the regulatory examinations have a 65% pass mark. For RE5, which has 50 questions, this means a candidate needs at least 33 correct answers to achieve a passing percentage.
The examination uses multiple-choice questions, with four possible answers for each question according to the FSCA’s FAQ.
This makes preparation particularly important because applicants should understand the regulatory concepts rather than simply memorise answers.
How should you prepare for RE5?
The FSCA provides official preparation material and identifies legislation that candidates should study for RE5.
The FSCA’s RE5 preparation material includes the Financial Advisory and Intermediary Services Act (FAIS Act), relevant subordinate legislation and other specified legislation and notices.
The regulator specifically advises candidates to read the legislation and pay attention to definitions and the meaning of regulatory terms.
The FSCA also warns that training providers are not automatically “accredited” or “approved” by the FSCA simply because they offer RE preparation. Candidates should therefore check what a training provider actually offers and whether its material reflects current requirements.
For 2026 preparation, the FSCA’s Fit and Proper section lists an RE1/RE5 Preparation Guide dated 17 January 2026, providing a more current starting point for candidates.
Is there a closing date for RE5 applications?
Unlike a learnership or bursary programme with one annual closing date, RE5 registration is handled through the regulatory examination process.
Therefore, applicants should not assume that a social-media post claiming a specific RE5 “closing date” is an official deadline.
Check the examination body’s current registration availability and selected examination session before making arrangements.
What has changed for the 2026 intake?
The important update for candidates in 2026 is the availability of current preparation material, including the FSCA’s January 2026 RE1/RE5 Preparation Guide listed on its Fit and Proper resources.
Moonstone’s examination library also lists an RE1 and RE5 Preparation Guideline modified in January 2026.
Because regulatory requirements and supporting material can be amended, candidates should use the latest official resources rather than automatically studying from older guides.
What should applicants verify before submitting?
Before completing an RE5 registration, check:
- That RE5 is the correct examination for your role.
- That your ID or passport information is correct.
- That the relevant FSP information is accurate.
- That your contact details are up to date.
- That you have selected the correct examination.
- That the examination date and arrangements are current.
- That you have checked the latest examination fee.
- That your preparation material is current.
- That you are using an official examination-body registration channel.
- That you understand what passing RE5 does—and does not—qualify you to do.
Career insight: What does passing RE5 mean?
Passing RE5 can form part of the regulatory requirements relevant to representatives in the financial services industry. However, it should not be presented as a standalone job qualification or a guarantee of employment.
The FSCA’s broader Fit and Proper framework includes additional requirements relating to areas such as honesty and integrity, competence, qualifications, experience, regulatory examinations, product-specific requirements and continuous professional development, depending on the circumstances.
Applicants should therefore view RE5 as one part of the regulatory pathway, rather than assuming that obtaining the examination certificate automatically provides employment or an FSP licence.
Final advice for RE5 applicants
The safest approach is to start with the regulator’s information, confirm that RE5 applies to your role and then register through the appropriate examination body.
Do not rely on claims that promise guaranteed employment after passing, unofficial “RE5 certificates,” or outdated fee and examination information.
For preparation, use the latest material made available through the FSCA and examination-body resources. Requirements, examination arrangements and supporting information can change, so verify the details immediately before registration.
Official sources: FSCA Regulatory Examinations FAQ · FSCA RE5 Preparation Material · Moonstone Regulatory Examination Library
