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The RE5 exam for financial advisers: what it is, how to book, and the fee

What the RE5 and RE1 regulatory exams are under FAIS, how to register for a sitting, and what each exam costs.

Under the FAIS Act, financial advisers and their representatives must meet the FSCA's fit and proper requirements. For representatives that includes passing the first-level regulatory exam (RE5) within the required period. Key individuals write the RE1. Moonstone is the examination body most advisers book through.

Steps

  1. Confirm with your FSP which regulatory exams and class-of-business credits your appointment needs, and by when.
  2. Register for a sitting on faisexam.co.za, or email the registration form and a copy of your ID to the exam body. Registration closes 11 working days before the exam date.
  3. Write the exam. If you miss it without valid medical evidence you forfeit the fee and must pay again.
  4. Keep up CPD and the other fit and proper requirements once appointed.

Fees

FeeAmount
RE1 or RE5, per exam, in South AfricaR 1 300 (VAT inclusive)
Per exam outside South AfricaGBP 223

From Moonstone's regulatory examination registration information dated 1 October 2024; confirm the current fee when you book. Checked 02/10/2026.

Keyword lists for these roles: Financial Adviser

Sources

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