Subject Title - INSETA

There are two (2) levels of regulatory examinations:First level regulatory examination•The examination includes the regulatory framework of the FAIS Act, thesubordinate legislation, the FIC Act and related content (such as KI roles andresponsibilities).•The examination is compulsory and varies across the Categories and roles.Second level regulatory examination•The second level regulatory examination ONLY APPLIES TO REPRESENTATIVES.•The examination is product specific and will test the knowledge and skillsrequired of a representative in relation to specific products.•Therefore key individuals who are also representatives must comply with secondlevel regulatory examination requirementsIf the key individual is also acting as a representative, he will have tocomplete the applicable second level regulatory examination(s).Regulatory examinations for the key individualAs discussed above, the qualifying criteria prescribe what must be covered ineach of these regulatory examinations. There are different examinations fordifferent categories and subcategories and also for the different role players(key individuals, representatives, compliance officers, sole proprietor FSPs).There are also different first-level regulatory examinations for key individualsin the different categories; and the nature of the products in thesubcategories differs. First-level regulatory examinations for applicants and/or keyindividuals in Category I, II, IIA, III and IV. First-level regulatory examinations for applicants and/or keyindividuals in Category II and IIA (key individuals operating in Cat IIand IIA only, will therefore do this RE). First-level regulatory examinations for applicants and/or keyindividuals in Category III (key individuals operating in Cat III only,will therefore do this RE).© INSETA - Section 1 12a 43