Subject Title - INSETA

The representative register must be updated when representatives‟ namesare removed and the registrar must be informed about these changes within15 days.When appointing representatives, care must be taken to ensure that theymeet and maintain all the fit and proper requirements.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. In terms of the definition of a representative, which of the followingfall within the definition?a) A person who renders a financial service to a client on behalfof an FSPb) A person who provides a clerical, technical, administrative,legal, accounting or related service with no judgmentc) A person who provides a clerical, technical, administrative,legal, accounting or related service WHICH IS just factualinformation about productsd) A person who renders a financial service to a client on behalfof an FSP but with no contractual or mandate agreements inplace with the FSP2. Once a person exercises judgement, and provides a recommendation,opinion or guidance in respect of a financial service to a client, thatperson is:a) a key individualb) a representativec) a compliance officerd) All of the above3. Read the statements carefully and choose the CORRECT statement.a) Representatives are appointed by the FSP, either throughemployment or through a mandate-type agreement and acton behalf of the FSPb) Representatives carry the responsibility for their actions, notFSPs© INSETA - Section 1 12a 79