Over 52% of the 628 candidates who sat the 18th Financial Advisers Exam cycle, held in July and August, have passed, with 76% of candidates resitting the exam for at least the second time, Australia’s corporate, markets and financial services regulator has announced.
The exam, administered by the Australian Council for Educational Research (ACER), follows a rigorous process to ensure all candidates in all cycles are held to the same standard.
ASIC said that to date, over 92% of the 20,148 candidates have taken the exam, “demonstrating they have the skills to apply their knowledge of advice construction, ethics and legal requirements to the practical scenarios tested in the exam.”
Unsuccessful candidates for the July and August 2022 exam cycle will receive general feedback from ACER to highlight the curriculum areas where they underperformed, as has been the practice for past exams. These candidates can then contact ACER at [email protected] to request a re-mark of the written response questions. Requests for a re-mark must be submitted by Sept. 7.
For financial advisers who are operating under the nine-month exam extension, this exam sitting was the last opportunity to pass the exam. From Oct. 1, all financial advisers must have passed the exam to continue to provide personal advice.
The next exam sitting of 2022 will be held on Nov. 3. Enrolments for the November sitting will open on Sept. 23 and close on Oct. 13.
