|How many credits do I get for my Matric?
||There are no credits for Matric it is a school leaving certificate that is not credit bearing.|
|I am a financial advisor and would like to find out how many credits do I have?
||You can contact the Learning Provider where you studied for the credits and request a statement of credits because they should issue you with a statement reflecting the credits achieved.|
|I have 30 years’ experience in the industry, how many FAIS credits do I qualify for?
||You do not get credits through experience but only through studying a credit bearing skills programme/qualification.|
|How do I go about obtaining the required credits?
||You can contact INSETA on 011 544 2000 and ask them for their accredited training providers you can choose from to study for your credits if it is an insurance related programme you need; you can contact BANKSETA at 011 805 9661 if it is a banking related programme.|
|I obtained a total of 60 credits for communication unit standards, maths literacy unit standards and financial literacy unit standards; why are these not accepted for FAIS?
||Communication, maths literacy and financial literacy unit standards are fundamentals that only work when one is completing a full qualification but as far as meeting the FAIS fit and proper requirements an appropriate skills programme made of core and elective unit standards only is required.|
|Can you convert the qualification I obtained into credits; the company that offered me employment wants me to have 60 credits?
||It is not the FSB primary function to convert qualifications/modules into credits; the only thing that the FSB can do if your qualification meets the 3 appropriate subjects as prescribed on Part IV of Board Notice 105 of 2008 is to recognise your qualification as a FAIS fit and proper qualification that will further be added to the list of recognised qualifications.|
|I would like to enquire if your organisation offers studies on credits?
||The FSB is not a learning provider/institution, if you need to study for credits contact INSETA on 011 544 2000 or BANKSETA on 011 805 9661.|
|I have a qualification; how do I go about adding it to the FSBs list of recognised qualifications?
||You need to first check that the qualification meets the 3 appropriate subjects (one must be a commercial subject and one a major subject) as prescribed on part IV of Board Notice 105 of 2008; if it meets the requirements, complete the fit and proper application form and submit it to the FSB with the academic record/transcript and proof of payment for review by the Training and Development Subcommittee. Once the subcommittee approves the qualification it will be added to the list of recognised qualifications.|
|I was appointed in the transitional period, when am I required to have a full qualification?
||A person appointed in the transitional period with maximum credits achieved per sub-category is authorised/appointed/approved for as prescribed on table E of Board Notice 106 of 2008. The only time a full qualification will be required is when a person adds or changes a product, but if you remain with the products you were originally authorised/appointed/approved for during the transitional period the credits achieved for the sub-category are sufficient.|
|I have a Certificate of Proficiency (“CoP”); will you direct me on the steps that I must follow for me to get proper recognition?
||The Certificate of Proficiency is a short skills programme from the short term insurance qualification at NQF level 4, therefore the FSB cannot recognise it as a full qualification because the Short Term Insurance qualification is already recognised and is on the list.|
|I have the RFP, how do I apply for it to be recognised as a qualification by the FSB?
||The RFP is a skills programme from the Wealth Management qualification at NQF level 5, therefore the FSB cannot recognise it as a qualification because the Wealth Management qualification is already recognised and is on the list.|
|I have a Bachelor of Commerce that is recognised as ‘G’ (generic) on the list, how do I get it recognised as S or SP (specific)?
||On the fit and proper qualification application there is a mapping template (QA9) which should be completed if one requires a specific recognition of his/her qualification where you need to prove that the content of your qualification matches either 80/100% to the qualifying criteria on Board Notice 105 of 2008. Where you have proven on your mapping that the qualification content matches 80%, the qualification will be recognised as ‘S’ and where you have proven on your mapping that the qualification content matches 100%, the qualification will be recognised as ‘SP’.|
|I have a Diploma in Marketing & Sales Management from PE Technikon and would like to know if I qualify for any credits towards FAIS?
||The FSB does not allocate credits to qualifications but recognises them if they meet the 3 appropriate subject requirement as prescribed on part IV of Board Notice 105 of 2008; if the qualification meets this requirement whether it is credit bearing or not it will be recognised as a qualification that meets the fit and proper requirements. The important thing is that the qualification is recognised, credits or no credits.|
|I want to enrol for insurance or banking learning programme/qualification?
||If you are looking at doing an insurance related programme or qualification you can contact INSETA and ask them to provide you with their list of accredited providers that can assist you. On that list you can select a training provider of your choice in your area. INSETA contact numbers are 011 544 2000. If you want a banking related programme or qualification you can call BANKSETA and request their list of accredited training providers on 011 805 9661.|
|I wish to write regulatory exams. Who do I contact?
||To register to write the regulatory examinations, you can contact the Examination Bodies i.e. Moonstone on 021 883 8000 or FPI on 011 470 6100. Click here to view fees Fees Schedule|
|Where can I find study material for the regulatory exams?
||To prepare for the exam you need to first familiarise yourself with the Preparation Guide that is available on the FSB website. The regulatory examinations are based on a specific set of tasks and qualifying criteria that is set out in detail at the end of the Preparation Guide for both the RE 1 (Key Individual exam) and the RE 5 (representative exam).|
You need to work through these tasks and criteria, and study all the information that relate to these tasks and criteria. To make it easier for you to identify where to find the information you need to study, you will see that references to the specific legislation that you need to study have been included with each task and criteria in the table at the end of the Preparation Guide.
You can also down load the latest version of the study guide from the INSETA website, because they developed the relevant study guide for the industry, and they are continuously updating this guide so the latest version will be available on their website.
Please go to www.inseta.org.za
• From the home page select FAIS and Regulatory Examination on the left-hand side of the page
• The select “RE learning material”
• Click on the “Click here” icon to access the learning material
• You will have to complete your information on a form to access the material. Please note that there are no fees included for this material. It is free of charge. The information you must provide in order to access the learning material is only for the INSETA record keeping purposes, because they want to track how many times their material was downloaded.
• Once you have completed this information, then a list of all their learning material will be displayed, and you will be able to download any of the study guides for the regulatory examinations.
|I wrote the regulatory examination but have not yet received my certificate?
||You need to communicate with the Examination Body where you wrote the RE exams, they should be in a position to assist you as they are required to issue certificates for individuals who have successfully completed the regulatory examinations.|
|Could you please advise how many credits I have?
||Contact the training provider where you studied for the credits; they will be able to issue you with a statement of credits for the credits you achieved. The FSB does not have such records as we are not a learning institution or training provider hence you need to contact the training provider where you studied for the credits.|
|I would like to know which qualification can exempt one from writing the RE5 exams, I have attached a copy of my certificate can you please confirm?
||Please note that obtaining a qualification does not exempt anyone from the regulatory examinations level 1 requirement. Having an appropriate qualification means you have met the qualification requirements in respect of FAIS Fit and Proper and you need to meet the additional requirements which are regulatory examinations. Therefore there is no qualification that exempts one from the 1st level regulatory examination.|
The only time where one could be eligible for exemption is from the 2nd level regulatory examinations (product specific exams) but only if the qualification obtained is recognised as specific (S/SP) for the product subcategories they are appointed for.
|I noticed that the UCT Bachelor of Laws does not appear on the qualification list but there is Bachelor of Laws - SGB Legal Education and Training what does this mean?
||The UCT Bachelor of Laws falls with other Universities under the generic SAQA ID 22993 which will reflect on the list as SGB Legal Education and Training. When you search on the SAQA website this SAQA ID shows all institutions that are included in this SAQA ID.|