Subject Title - INSETA

Self-Assessment Answers1. The FAIS Supervision Department is responsible for:a) application formsb) compliance reportsc) submissions on changes in legislationd) complaints handlinge) b) and c)2. The FAIS Registration Department is responsible for:a) compliance reportsb) debarmentsc) upload of the representative registerd) application formse) c) and d)3. When deciding whether a business is an undesirable businesspractice, the Registrar must consider whether the business practicemust have, or is likely to have, a direct or indirect effect resulting in:a) harming the relations between FSPsb) unreasonable prejudice to clientsc) deceiving any clientd) All the above4. When the Registrar informs the FSP to rectify or reinstate loss ordamage, the FSP must do it:a) within 60 days after the direction was issuedb) within 90 days after the direction was issuedc) within 60 days after the business was closedd) immediately5. If the FSP does not adhere to the Registrar's directive regarding anundesirable business practice, a fine of not more than:a) R10 000 000 or imprisonment of not more than ten (10)years, or both may be imposedb) R1 000 000 or imprisonment of not more than ten (10)years, in the alternative, may be imposedc) R1 000 000 or imprisonment of not more than ten (10)years, or both may be imposedd) None of the above© INSETA - Section 1 12a 133