Subject Title - INSETA

Self-Assessment QuestionsPlease note that the questions which follow are formative in nature. Thequestions were not developed by the FSB‟s examination bodies and as suchcannot be used as an indication of the nature/structure/level of the questionsthat you will encounter in the FSB‟s regulatory examination.1. The FAIS Act regulates the business of all financial services providersand intermediaries who:a) give advice or provide intermediary services to clientsb) give advice and grant creditc) are registered as credit providersd) only give advice to clients2. FSPs may:a) only be registered for one licenceb) have various licences but for the same product categoriesc) only apply for one licenced) have various licences in respect of different productcategories3. The classification of the categories and sub-categories are importantfor the following reasons:a) FSP licences are issued for specific product categoriesb) Compliance officers are approved for certain productcategories and sub-categoriesc) a) and b)d) a)4. Section 16 of the FAIS Act requires that the Codes must have (atleast) provisions relating to:a) adequate record-keepingb) the power of the Registrarc) the control or prohibition of incentives given or accepted by aproviderd) a) and c)© INSETA - Section 1 12a 17