A financial Advisor must do a proper financial needs analysis BEFORE discussing products
True
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5
You need to be able to manage your finances before you can advise other on how to manage theirs.
True
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Other team wins 25 points!
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5
One of the main objectives of FAIS is to protect the interests of consumers.
True
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15
The objectives of FAIS and FICA are the same.
False
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15
When a Representative does not meet the Competence Fit and Proper requirements, they will be given a chance to work under supervision until he/she becomes compliant
True
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15
If you are prosecuted and are convicted, you will be liable to a fine of up to R100 Million
False
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20
The ....... must explain the product in detail and accurately.
Financial Advisor
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15
You are allowed to give advice to a client before you conduct the FNA if that client is your friend.
False
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10
The objective of FAIS is to protect the financial services industry.
True
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5
10
15
20
25
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25
Who may supervise?
A person who meets the competence Fit and Proper requirements and is also accredited to sell the products that the supervisee is selling
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15
The .... must discuss premiums and what the client wants and can afford to pay each month.
Financial Advisor
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15
âĒ If a client want to replace an existing policy, you must explain the risks and potential losses, waiting periods, differences between the 2 products and charges that the client can incur
