Who needs the RE5? Jobs and roles that require it
If you advise on or sell financial products for a financial services provider, you almost certainly need the RE5. That covers far more jobs than people expect.
Roles that usually need it
- Financial advisers and planners.
- Insurance agents and brokers, short-term and long-term.
- Call-centre sales and service agents for insurers, banks and medical schemes.
- Investment and retirement-fund representatives.
A few narrow roles are exempt, such as funeral-only sales. If your role involves financial products and clients, plan on writing it.
Why it matters for getting hired
Many job adverts for insurance sales and service roles ask for the RE5. You do not need a job at an FSP to register and write it, so passing it before you apply puts you ahead of candidates who still have to write it, and lets you start earning sooner.
If you are already in the job
If you started under supervision, you cannot work on your own until you meet every requirement, and the RE5 is one of them. Run out of time and you must stop giving advice, so it pays to pass early.
Questions people ask
Do call-centre agents need the RE5?
Usually yes, if they sell or advise on financial products for an FSP. A few narrow roles, such as funeral-only sales, are exempt.
Can I write the RE5 before getting a job?
Yes. You do not need to work for an FSP to register, and many job adverts ask for it.
What happens if I do not pass in time?
If you work under supervision and run out of time, you must stop giving advice until you meet the requirements.
Keep reading
How much does the RE5 cost? Exam fee and study costs →RE5 study material: what to use and how to study it → All RE5 guides →Danley is exam preparation only. You register for and write the RE5 through the FSCA's examination body. Check current exam rules and fees when you book.