To pass the RE5 you need at least 33 correct answers out of 50 questions. That is 66%. A score of 32 out of 50 (64%) is a fail.
Why do some sources say 65% and others 66%?
Both numbers appear in official FSCA material. The FSCA Regulatory Examinations FAQ gives the pass mark as 65% but states that you need "at least 33 correct answers out of 50". The FSCA Preparation Guide for Regulatory Examinations (RE1 and RE5), version 1, 17 January 2026 lists 66%. Each question is worth 2%, so 33 correct is exactly 66%, and 32 correct is 64%, which is below either figure. The number that matters on the day is 33.
How the RE5 paper works
| Questions | 50, worth 2% each |
|---|---|
| Time allowed | 2 hours |
| Format | Multiple choice, four options, one correct answer |
| Books and notes | Closed book |
| Marking | No negative marking |
| Attempts | No limit on the number of attempts |
| Paper type | Paper-based, answered on a bubble sheet with an HB pencil or black pen |
Source: FSCA Preparation Guide for Regulatory Examinations (RE1 and RE5), version 1, 17 January 2026, and the FSCA Regulatory Examinations FAQ.
What the pass mark means for how you answer
- Answer every question. There is no negative marking, so a wrong answer costs you no more than a blank one.
- You can miss 17 and still pass. That is a margin, not a target. The FSCA tests every one of the RE5's 8 tasks at least once, so gaps in one area show up.
- Pace yourself. Two hours for 50 questions averages 2.4 minutes each. The FSCA guide suggests roughly 0.5 to 1 minute for knowledge questions, 1 to 1.5 for understanding questions and 1.5 to 2 for application and analysis questions, so spend your time on the harder ones.
If you do not pass
There is no limit on attempts, but each sitting needs a new registration and the exam fee again. Results are emailed within 20 working days, and candidates cannot view their paper afterwards, so work out your weak tasks before you rebook. Our guide to preparing for the RE5 the way the FSCA describes covers how.
What about the RE1?
The RE1 is a different paper: 80 questions, 2 hours 30 minutes, with a pass mark of 65%, which is 52 of the 80 questions. See our RE1 exam preparation page if that is the exam you need.
Sources
- FSCA Preparation Guide for Regulatory Examinations (RE1 and RE5), version 1, 17 January 2026
- FSCA Regulatory Examinations FAQ
- Moonstone registration notice, 1 October 2024
Exam rules are set by the FSCA and Moonstone and can change. Check the sources above before you book.
Common questions
Is the RE5 pass mark 65% or 66%?
The FSCA FAQ says 65% but also says you need at least 33 correct answers out of 50, which is 66%. Aim for 33 or more. Thirty-two correct (64%) is a fail.
Is there negative marking in the RE5?
No. Wrong answers are not penalised, so answer every question.
How many times can I write the RE5?
There is no limit on attempts. Each attempt needs a new registration and fee.
How long do RE5 results take?
Moonstone emails results within 20 working days of the exam. They are uploaded to the FSCA first, then released to you.