2. Competence Experience Qualifications Regulatory Exams CPD

3. Source: BN 106 and substituted by BN 60 of 2010 One subcategoryAdvice minimum ExperienceServices Minimum Experiences Long term Insurance sub cat A 6 months2 months Short term Insurance Personal Lines 1 year6 months Long term Insurance sub cat B1 and B2 1 year6 months Long term Insurance sub cat C 1 year6 months Retail Pension benefits 1 year6 months Pension Fund Benefits 1 year6 months Securities and instruments Shares, Money market Debentures Warrants Derivatives Collective investments Forex 2 years1 year

4. Identify whether classified as part of transitional arrangements or as new entrant – (see BN 104) May select further qualifications from qualifications list and complete relevant qualification within 5 years of appointment Reps must meet qualifying criteria published in subordinate legislation. FAIS Registrar published list of “recognised qualifications” for each category and subcategory Source: Board Notice 106

5. Product specific Regulatory Exam and exemptions depending on qualifications Qualifications not listed may gain recognition by making application which MAY be added to qualification list Entry level requirements for each License Category FAIS Registrar published list of “recognised qualifications” for each category and subcategory Source: BN 104 and 106

6. RE 1 will deal with core legislation applicable on FSP, representatives and Key Individuals Registrar and Advisory Committee appointed Examining Bodies Rules set for setting, examining, marking and moderating exams RE 1 must be completed 2 years after date of 1 st appointment RE 2 must be completed 6 years after date of 1 st appointment Reps can be appointed without completing RE 1 but must work under supervision Test factual knowledge of examinees on rendering financial services applicable to categories or subcategories Reps to meet 1 st and 2 nd level exams 2 nd level exams are product specific relevant to category or sub-category

7. Not completing CPD notional hours will result in debarment SETA is Sector Education Training Authority Accredited provider means provider of occupational learning programs Professional skills are abilities required to apply professional knowledge CPD must be verified by provider of CPD program Between 15 and 60 hours of notional learning every 3 years Process of learning and development to enable FSP, KI, Rep to perform competently in licensed categories and subcategories Conferences, courses, seminars, workshops, product seminars Professional knowledge - subjects related to financial services industry