Learn • Regulatory Exam • RE5
RE5 Exam Guide
The RE5 is a regulatory exam commonly required for FAIS Representatives. This page explains what the exam is,
how to prepare properly, what topics it focuses on, and what to do next so you can pass without turning it into a lifestyle.
Note: The official exam rules, formats and booking process are controlled by the exam body.
Always confirm the latest requirements when you book.
RE5 in plain English
Most people fail RE5 for one reason: they read theory but don’t practice applying it. The exam isn’t a memory test.
It’s “what should you do in this scenario” under the FAIS framework.
What it tests
Application of FAIS conduct and compliance principles to real-life client scenarios.
What it rewards
Understanding + practice: picking the correct action, disclosure, or process step.
What it punishes
Guessing, vague “common sense”, and skipping practice questions.
Who usually needs RE5?
RE5 is commonly required for people acting as FAIS Representatives. Your exact requirement depends on your role,
product categories, and your FSP’s structure and controls.
New to the industry
If you’re entering FAIS-related work, RE5 is often part of your competence journey.
Already working under an FSP
Many onboarding processes include RE5 timelines and supervision requirements. Confirm early.
What the RE5 exam focuses on
RE5 content is built around how a representative should behave and operate: disclosures, advice process, conflicts,
record-keeping, and doing the correct thing for the client under the rules.
Conduct & disclosures
- What must be disclosed and when
- Conflicts of interest and client fairness
- Advertising and communication principles
Advice & intermediary process
- Needs analysis and suitability
- Product information and client understanding
- Ongoing service and client outcomes
Compliance & operational rules
- Record-keeping and evidence
- Complaints handling and escalation
- Basic governance, control and accountability
This matters for COB and CPD too
Your scope and training requirements are affected by Class of Business, and your competence must stay current through CPD.
How to prepare (the method that actually works)
Use this sequence. It’s boring. It works.
Step 1
Learn the rules
Read your study guide with focus on conduct, process, and evidence.
Step 2
Translate into actions
Ask: “What would I do next?” not “What is the definition?”
Step 3
Practice questions
Do timed practice and review explanations. Practice is non-negotiable.
Step 4
Fix weak areas
Track mistakes by topic, then re-study those sections and repeat practice.
A simple 25-day study plan (common approach)
If you need structure, this is a realistic plan that builds understanding and exam readiness. Adjust pace if you have more or less time.
Days 1–5
Read core conduct & advice process. Make summary notes of “what must be done”.
Days 6–10
Study disclosures, conflicts, client communication, and record-keeping. Start light practice.
Days 11–15
Increase practice volume. Review every wrong answer and re-study weak areas.
Days 16–20
Timed practice sessions. Focus on scenario questions and tricky wording.
Days 21–25
Mock exams under time pressure. Final revision of repeat mistakes.
The real “pass hack”
After every practice session, write down: (1) why you got it wrong, (2) the rule/process that applies, (3) what you’ll do differently next time.
Common reasons people fail RE5
They don’t practice enough
Reading feels productive. Practice proves whether you actually understand.
They learn definitions, not actions
RE5 is scenario-based: what must be disclosed, recorded, or done next.
They ignore record-keeping topics
If it’s not documented, it didn’t happen. The exam reflects that reality.
They book too early
Book when practice results show readiness, not when motivation is temporarily high.
RE5 FAQs
Is RE5 the same as “getting an RE5 certificate”?
RE5 refers to the regulatory exam outcome. Training providers help you prepare, but the exam booking and official result comes from the exam body.
Should I study alone or choose training?
If you’re disciplined and already familiar with compliance, self-study can work. If you need structure, accountability, explanations, and guided practice, training is usually faster.
What else should I understand besides RE5?
Fit & Proper, COB and CPD affect what you may do and what you must maintain long-term.
Next steps
Choose what you need right now: a prep route, practice tools, or opportunities in the industry.
