Are you ready for Regulatory Examinations?
The FAIS Act and its subordinate legislation prescribe a number of requirements that individuals who provide financial advice/services on behalf of a financial services provider must meet. One of these requirements is that all financial services providers, representatives and key individuals have to pass the industry’s Regulatory Examinations before certain deadlines. Milpark Education offers you all the tools you need to succeed in the Regulatory Examinations. Thorough preparation is essential!
Work through the course material
The FSB advises candidates to spend at least three months preparing for the examination. The good news is that if you are an experienced adviser, you will no doubt be familiar with some of the legislative content. However, even if you are experienced in financial services, you should not be complacent or underestimate the amount of preparation time and effort that need to be applied to pass the Regulatory Exams. Tackle the book thoroughly, chapter by chapter and make detailed notes as you go.
Practice multiple-choice exams
The practice exam consists of multiple-choice questions (MCQs). A detailed report on your strengths and development areas is issued with each practice exam. This allows you to assess your own RE exam readiness.
Please note that these practice exams are not a replacement for the FSB Regulatory Exams. You are required to register separately with an independent FSB examination body (e.g. Moonstone, Financial Planning Institute) to write your Regulatory Exam.
We recommend you practice answering MCQs to develop the skills needed. MCQ papers are not guessing games and contain no patterns. There are test-yourself questions at the end of each chapter in the study notes to help you assess your understanding of the material.
What determines a student’s success in the regulatory exams?
Milpark has been offering support to a large number of advisers over the past months, and it is our informed belief that passing the examinations is dependent on a combination of the following:
- Time and effort spent studying.
- Attendance at workshops.
- Completing practice examinations.
- Language ability.
- General background and context in the industry.
- Academic ability – the ability to memorise information.
- The ability to analyse and interpret MCQ questions.