FAQ’s

To be qualified as a Finance and Insurance agent (F&I), there are specific training requirements that you need to successfully complete. Typically, you start by undertaking the National Credit Act (NCA) Training and Exam. Afterwards, you can proceed to complete the Class of Business training in the relevant classes in which you operate as an F&I. Additionally, you must obtain a qualification recognized by the Financial Sector Conduct Authority (FSCA).. Lastly, you need to pass the Regulatory Examination for Representatives (RE5). We will assist you throughout the process to ensure that you fulfil all the training requirements to be an F&I.

If you would like to work as a Representative in the insurance and motor dealer industries, it is essential to adhere to specific honesty and integrity standards and be a person of good standing. Additionally, you need to possess the necessary competence to provide professional services to your clients. Initially, you will acquire experience and receive product training from the Financial Service Provider who has registered you as a representative. Subsequently, you will need to undergo training in all the relevant Classes of Business in which you intend to operate as a representative. Furthermore, it is mandatory to complete a qualification recognized by the Financial Sector Conduct Authority (FSCA). Moreover, you must successfully pass the Regulatory Examination for Representatives (RE5). Throughout the entire process, we will offer guidance and support to ensure that you meet all the training requirements to become FAIS Fit and Proper.

If you have misplaced your NCA card, we can help you obtain a replacement card if you completed the NCA through our company or if you completed the NCA with another training provider and the examination body was the Institute of Bankers (IOB), and can provide proof of competence from the IOB (such as a Certificate of Competence or Competence letter). To inquire about the fee for the replacement card and to request another card, please contact us at info@faisforwardacademy.co.za.

If you completed the NCA through Moonstone, we will not be able to assist, and you must contact them directly.

In order to operate as a representative in the financial services industry, you are required to undergo Class of Business Training for all the specific Classes of Business in which you intend to operate. To determine in which classes you are registered as a representative, please consult your compliance officer.

The Regulatory Examination for Representatives, or RE5 is specifically designed for representatives operating in the insurance and motor dealer industries. It serves as a competency-based fit and proper requirement as mandated by the FAIS Act, ensuring that individuals providing financial services to clients possess the necessary skills and knowledge. On the other hand, the Regulatory Examination for Key Individuals or RE1 is intended for Key Individuals within the industry. It is a prerequisite for those who would like to be a key individual within a Financial Services Provider.

Our organization provides two FSCA recognized qualifications: the Retail Insurance Qualification (140 credits) and the Short-Term Insurance Qualification (150 credits).

Absolutely! If you enrol for the Retail or Short-Term Insurance qualification and you haven’t obtained a passing grade in two languages and/or Maths/Math Literacy during your matric/Grade 12, you can still complete the qualification by undertaking additional modules that cover these subjects. However, if you have already passed these subjects in Matric/Grade 12, we will assist you in applying for an exemption once you have successfully completed the qualification.

At FAIS Forward Academy, we adopt a blended learning approach that incorporates a mix of online or eLearning components along with virtual learning. We provide learners with active support throughout their studies. Our NCA, Class of Business, RE5 and RE1 training, and FAIS qualifications can be conveniently completed on our eLearning Platform, which is accessible online. We also organize virtual check-in sessions via Zoom to stay connected with learners, and we have a learner support resource available to offer assistance and guidance whenever needed for assignment completion

If you’ve previously earned FAIS credits from a different training provider, please provide us with any statement of credits received from Inseta. We will conduct a mapping to determine which credits are yet to be completed.

You have the option to pay for your studies by making an initial deposit and then settling the remaining balance over a period of 12 or 15 months through a debit order. For more detailed information regarding our payment options, please don’t hesitate to contact us at 071 424 4905.

No, it is not mandatory to follow a specific sequence. You have the flexibility to complete the courses in the order that suits your preferences and aligns with your individual requirements, while also considering the regulatory obligations. Rest assured, we will provide you with step-by-step guidance to help you qualify successfully.

You can register for any of the training courses at any point throughout the year as our registrations are open year-round. Whether you are prepared to begin your training or require immediate training solutions, we are here to provide assistance. We will work with you to design a course mapping that aligns with your training requirements and fits within your desired timelines.

Typically, students complete all the training courses within a period of 12 to 18 months. The duration may vary based on the amount of time you have available to dedicate to your studies.