Subject Title - INSETA

Self-Assessment Answers1. Which of the following statements is TRUE?a) The FAIS Act requires that a certified copy of the FSPs licencemust be displayed in a prominent and durable manner at thehead office/s of the FSPb) An FSP may request additional product categories to beadded to its licencec) Standard conditions are specifically applicable to insuranceFSP licencesd) FSPs may not have more than one licence2. Before suspension of a FAIS licence, the Registrar must inform:a) the FSP of the intended period of suspensionb) the FSP of any terms attached to the suspensionc) the Advisory Committeed) a) and b)e) a) and c)f) Only c)3. Urgent suspension or withdrawal of a licence may only happen:a) after the Registrar has obtained a court orderb) after the Registrar has consulted with all the partiesc) if there are reasonable grounds that the public or clients maybe substantially prejudicedd) None of the above4. The FAIS offences include, failure to:a) get a licence to operate as an FSPb) have the licence available when proof is requestedc) debar a representative as described in Section 14(1)d) All the above5. The civil remedies include:a) restraining and payment ordersb) only restraining ordersc) only payment ordersd) None of the above208 © INSETA - Section 1 12a