Inseta : FAIS Regulatory Examination Learning Material
INSETA, the sector training authority for the insurance sector, has now been given the green light by the Financial Services Board (FSB) to make its FAIS Regulatory Examination learning material available to stakeholders. This follows an initial concern raised by the FSB in a letter which necessitated the sending of a cautionary notice to stakeholders.
INSETA and the FSB met on the 4th of April 2011 to discuss the concerns that the FSB had raised in a letter to INSETA on the quality of the learning material. INSETA had commissioned a provider to prepare learning material on all the FAIS RE examinations, in order to assist industry in their preparations. The learning material was designed in a user friendly manner and is based on the Specified Qualifying Criteria. The material went through a rigorous quality assurance process which included insurance industry subject matter experts and associations. The material is available on the INSETA website and can be downloaded free of charge to anyone wanting to make use of it.
INSETA CEO Sandra Dunn advises “We will continue to make the material available to industry free of charge to assist industry to meet the regulatory examinations deadlines. INSETA has, since the inception of FAIS, supported industry in meeting FAIS requirements through discretionary grant funding. “INSETA regularly consults with industry associations like IISA and FIA in order to keep abreast with the skills needs and priorities of the insurance industry. Feedback received nationally, is that the FAIS RE material is of a good quality and many people have made use of the material in their preparations and have passed the examinations.
In order to pass the FAIS RE multiple choice examination questions, it is necessary to prepare thoroughly. The self test questions featured in the INSETA learning material are provided to assist the learner with the revision of the material. They are in no way intended to be variations of the FAIS RE Examination questions. The FSB has not made past question papers available and will not be doing so. Flowing from the discussions with the FSB, INSETA has now placed preparation guidelines on its website to assist stakeholders with the steps they need to follow in order to be fully prepared for the examinations. INSETA will be conducting a survey of learners in our sector to establish what their experiences of using the FAIS RE material in their preparations for the examinations were. The outcome of the survey will be fed back to all stakeholders.
