Latest Poll – Can You Get 65%?

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Are you confident you could achieve at least a 65% pass mark for FASEA's proposed Financial Adviser Examination?
  • Not sure - I need more details (47%)
  • No (27%)
  • Yes (26%)

We’re keen to know whether you think you could pass FASEA’s proposed Financial Adviser Examination.

Last week, the Authority released a consultation paper that contained specifics about the proposed exam that every current adviser must take and pass before 1 January 2021 if they wish to continue delivering personal financial advice.

While the industry awaits more detail around the exam and its processes, including sample questions, we’re interested to get a sense of whether you think you’ll be okay to pass the exam, given what you know today.

The proposed exam requires an overall 65% pass mark, as well as some other minimum benchmarks (see: FASEA Releases Draft Adviser Exam Guide).

We appreciate there remains significant opposition among some advisers about whether they should be required to undertake this exam in the first place. However, given you have no choice, and irrespective of your view on its necessity, we’d like to know how you think you’d go.

You’ll also need to pass it on your first attempt, unless you can prove exceptional circumstances, such as illness, so it’s critical that most advisers get it right the first time.

…And the AFA has its own concerns about the perceived difficulty the exam may present to advisers (see: AFA Concerns on FASEA…)

Tell us what you think and we’ll report back next week…

 



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6 COMMENTS

  1. The reason I have voted NO is down to the fact that I am a “risk only” adviser and will certainly fail any questions on financial planning.

    • the exam, as currently proposed, will have NO specific product / area specific questions. It has been designed so that people who dont advise on risk, super, SMSF, investments, margin lending or any other specific areas of advice arent disadvantaged

    • John, if your licence is restricted to risk only products, then I accept that you are a risk only adviser. My experience with advisers though is that they have full licence.

  2. 65% of what?? There is no where near enough evidence of what the final “wash up” of this will be. If any common sense reigh’s here there should be heaps of changes.
    Only time will tell

  3. To provide risk advice properly, an adviser must also thoroughly understand superannuation law and estate planning. If not, then you cannot recommend any insurance funded by super. Good luck with that…

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