The RE5 Certificate: how to get yours in South Africa.

What is the RE5 certificate?

The RE5 is the FSCA's Regulatory Examination for FAIS Representatives. Anyone advising or intermediating on financial products in South Africa — including Insurance Underwriters, Brokers, Wealth Advisers and Banking Representatives — must pass the RE5 within their first supervised period. The certificate proves you have been tested on the FAIS Act, your role obligations, the General Code of Conduct, and the supervisory framework.

How to obtain your RE5

1. Register with an FSCA-approved exam body — Moonstone or Inseta.
2. Pay the exam fee (currently around R1,353) and book a venue or remote sitting.
3. Study the FSCA RE5 Qualifying Criteria and Preparation Guide (free download from the FSCA site).
4. Sit the 50-question, two-hour, closed-book multiple-choice exam.
5. Achieve a pass mark of 65% to receive your certificate, usually issued within 7 business days.

Cost and validity

• Fee: approximately R1,353 per attempt.
• Validity: the RE5 certificate does not expire.
• CPD: ongoing FAIS CPD hours are still required to remain Fit and Proper.
• Timing: new Representatives must pass within their first supervised period.

Moonstone vs Inseta

Both Moonstone and Inseta are FSCA-recognised exam bodies, and both issue the same RE5 certificate. The differences are practical, not technical. Moonstone runs a wider network of venues and more frequent sittings, which tends to suit candidates booking themselves directly. Inseta, the Insurance Sector Education and Training Authority, is often used by larger Insurers and Brokers who fund the exam centrally for their Representatives. Either certificate is fully recognised for FAIS Fit and Proper purposes.