RE5 exam preparation in Johannesburg and online.

The RE5 is the FSCA regulatory exam for representatives. Here is how it works, how to prepare for it, and how Thuto Tutorials helps, in class at Braamfontein and Dobsonville or online.

The Thuto Tutorials RE5 study guide on a desk

A facilitator explaining a topic at the whiteboard

The RE5 at a glance

Questions: 50Multiple choice, four options each
Time allowed: 2 hours
Pass mark: 33 of 5066%. 32 of 50 does not pass.
Tasks tested: 8From the FSCA qualifying criteria
Format: Closed bookWritten on paper, no negative marking
Attempts: UnlimitedYou pay the exam fee for each sitting

Source: FSCA Preparation Guide for the regulatory examinations (RE1 and RE5), 17 January 2026, and the FSCA regulatory examinations FAQ.

Who must write the RE5?

All representatives, including those employed or mandated by an FSP, who render a financial service to a client must pass the RE5. People who do clerical, technical, administrative, legal, accounting or other work in a subordinate capacity that needs no judgement and does not lead to a specific transaction are not included.

The FSCA lists exceptions for representatives appointed only for funeral and friendly society benefits, only for Tier 2 financial products, or only to execute sales of Tier 1 financial products. The product tiers are set out in Board Notice 194 of 2017. If you are not sure whether you fall under an exception, ask your FSP’s compliance officer or the FSCA.

Key individuals write the RE1 instead. See the comparison below.

What the RE5 tests

The RE5 is built on 8 tasks and their qualifying criteria, published in the FSCA Preparation Guide. Every exam covers each task at least once, so no task can be skipped, even if it does not seem relevant to how your FSP works.

The exam tests how you apply the FAIS Act, the General Code of Conduct and related legislation, not whether you can recite sections. Questions come in four levels: knowledge, understanding, application and analysis. Expect these styles:

Direct questions with one correct answer
Sentences you complete by choosing the right option
Negative questions, where you pick the option that is not correct
“Most”, “best” or “least” questions
Roman numeral questions, where more than one statement may be correct
Sequencing questions, where you put steps in the correct order

How to prepare for the RE5

The FSCA is clear about how to prepare. Its guidance, from the Preparation Guide:

Start with the Preparation Guide. It maps every task and criterion to the legislation you must study.
Plan for at least 2 hours of study a day, working through 3 or 4 criteria at a time.
Read the legislation first, so you see the exact terms it uses. Then use training material to understand it, then read the legislation again.
Get used to the legal wording. Questions use the technically correct legal terms, because simplifying them would change their meaning.
On exam day, pace yourself: roughly 30 to 60 seconds for knowledge questions, up to 2 minutes for application and analysis questions.

Questions are based on the legislation itself, not on training material. The FSCA also advises candidates to avoid mock exam questions and says that workshops alone are not enough. Treat any course as a way into the legislation, not a replacement for reading it.

Sources: FSCA Preparation Guide (RE1 and RE5), 17 January 2026; FSCA regulatory examinations FAQ.

RE5 classes at Thuto Tutorials

Our facilitators take you through the full RE5 exam scope, in class at our Braamfontein and Dobsonville branches in Johannesburg, or online. If you want focused help on the areas you find hard, we also offer one-on-one sessions. Contact us to book one.

No course can pass the exam for you, and you still need to read the legislation. What a good class does is show you where to look, explain what the legal wording means, and keep you working to a schedule.

To get started, create an account, choose your course, pay online and get access immediately. For class dates and branch details, contact us.

Choose how you study

In-person RE5 classes

R3,000per individual learner

Attend at Braamfontein or Dobsonville. This is a one-time course total and includes online learning-platform access. In-person business registration is not available.

Online-only RE5

R1,990for an individual

One learner, one seat, with no in-person classes.

Choose individual online RE5

Online-only RE5 for businesses

R2,499per seat

Prices as listed on our learning platform. The exam fee is paid separately to Moonstone.

All our services

Booking and writing the RE5

Thuto Tutorials prepares you for the exam. The exam itself is booked, written and marked through Moonstone, and the exam fee is paid to Moonstone separately from any training.

Register on Moonstone's exam site, faisexam.co.za. Moonstone is the exam body appointed to deliver the regulatory exams for the FSCA. You will need your ID or passport number, your FSP number and your contact details.
Registration closes 11 working days before the exam date, and seats fill quickly. Choose the correct exam, date, time and venue.
Pay within 24 hours of registering, using the invoice number Moonstone sends you. Only Moonstone may take the exam fee.
Moonstone's registration notice of 1 October 2024 lists the fee as R1,300 including VAT per exam. The fee is set by the FSCA and can change, so confirm the current amount when you register.
On the day, bring your original ID, passport or valid driver's licence (copies are not accepted) and arrive at least 30 minutes before the start. Doors close 15 minutes before the exam begins.
Results are emailed within 20 working days, and you can view them and download your certificate on faisexam.co.za.

Source: Moonstone, Regulatory Examination Registration, Important Information (1 October 2024).

RE1 or RE5: which one do you need?

The RE1 is the key individual exam and the RE5 is the representative exam. They share the same format but test different roles. If you are unsure which applies to you, ask your FSP’s compliance officer or contact us.

RE5 (this page)

For representatives who render financial services to clients
50 questions, 2 hours, 33 correct to pass
8 tasks tested
Focuses on what a representative is responsible for: giving advice and rendering intermediary services

RE1

For FSPs, key individuals and compliance officers who manage and oversee financial services
80 questions, 2 hours 30 minutes, 65% to pass
16 tasks tested
Focuses on what a key individual is accountable for under the legislation

See the RE1 page

RE5 questions, answered

How much does RE5 preparation at Thuto Tutorials cost?

In-person RE5 classes cost R3,000 per individual learner and include online learning-platform access. Online-only RE5 costs R1,990 for one individual seat or R2,499 per business seat, with a minimum of one seat. In-person business registration is not available. The exam fee is paid separately to Moonstone.

What is the RE5 exam?

The RE5 is the FSCA regulatory examination for representatives in all categories of financial services providers. It tests whether you understand your regulatory role and responsibilities under the FAIS Act and related legislation.

How many questions are in the RE5 and how long do I get?

The RE5 has 50 multiple-choice questions and you have 2 hours. Each question has four options and only one is correct.

What is the RE5 pass mark?

You need at least 33 correct answers out of 50, which is 66%. The FSCA's FAQ gives the pass mark as 65%, and for 50 questions that works out to 33 correct. 32 out of 50 is 64% and does not pass.

Is the RE5 open book?

No. The exam is closed book and no study material is allowed in the exam room. It is written on paper, and there is no negative marking, so an unanswered or wrong question simply scores nothing.

How many times can I write the RE5?

The FSCA states there is no limit on the number of attempts. You register and pay the exam fee for each sitting.

How do I book the RE5 and what does it cost?

Register with Moonstone at faisexam.co.za. Moonstone's registration notice of 1 October 2024 lists the fee as R1,300 including VAT per exam. Fees are set by the FSCA and can change, so confirm the current amount when you book.

When do I get my RE5 results?

Moonstone emails results within 20 working days of the exam. Results go to the FSCA first and are then released to you. You can view them and download your certificate at faisexam.co.za.

Does Thuto Tutorials offer RE5 classes in Johannesburg?

Yes. We run RE5 preparation in class at our Braamfontein and Dobsonville branches, and online. Contact us for current class dates.

Ready to start preparing for the RE5?

Choose in-person classes at Braamfontein or Dobsonville, or an online-only course, then pay securely online for LMS access.

Exam details last reviewed 30 October 2026. Exam rules and fees are set by the FSCA and Moonstone and can change, so check the sources linked above before you book.