A Comparison of the RE1 and RE5 Exams: Which one should you write?

Financial advisors and bankers, working in the financial sector, must comply with the Fit and Proper requirements, including the successful completion of a Regulatory Exam.

We will look into two types of Regulatory Exams – RE1 and RE5 – to help you determine which one is most suitable for your professional role.

The RE1 Regulatory Exam is specifically designed for Key Individuals. Those occupying roles such as sales managers and executives, call centre managers, regional managers and executives, and heads of departments, need to demonstrate their competence across 16 tasks related to the management of activities of a Financial Services Provider (FSP) and its Representatives.

On the other hand, RE5 is applicable to Representatives providing financial services to clients, including financial advisors/planners, bankers, sales agents and claims consultants. They must prove their capability through 8 tasks associated with this type of roles.

Your choice of Regulatory Exam depends on your current or intended role in the sector. A summary of the key differences between the two examinations is presented in the table below.

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