May 20, 2019
FASEA has released details for the first round of exams it will be conducting for financial advisers and new entrants to the advice sector, including the release of a set of test questions.
Sitting 1 2019
- Thursday 20 June – Monday 24 June
Sitting 2 2019
- Thursday 19 September – Monday 23 September
The Authority notes registrations for new entrants and existing advisers to sit the June examination is open until 5:00pm on Friday 31 May, while registrations for the September exam sitting are open between Monday 12 August and Friday 30 August.
In its release, FASEA says the exam will be held in nine locations: Sydney, Canberra, Brisbane, Townsville, Melbourne, Adelaide, Perth, Darwin and Hobart.
It advises there will also be an exam sitting scheduled for December 2019, following the June and September rounds – although it has not provided any further details on the December dates – while subsequent exam sittings have been scheduled during February, April, June, August, October and December 2020.
The exam will test the practical application of knowledge in the following competency areas:
- Financial Advice Regulatory and Legal requirements
- Financial Advice Construction
- Applied ethical and professional reasoning and communication
The Authority has released guidance to help prepare for the exam, which includes details regarding the curriculum, a reading list and practice questions.
Click here to access the Exam Preparation Guide
Click here to access the FASEA practice exam questions** (answers also provided)
Click here for a link to frequently asked questions
FASEA CEO, Stephen Glenfield, commented “The opening of registrations for the exam is a significant milestone for FASEA and the industry, and I encourage advisers to register as early as possible.”
Advisers can click here and follow links to register for the June 2019 sitting of the FASEA exam.
** The AFA has informed its members it holds some concerns about the implications for specialist advisers in needing to answer some of the practice questions around aged care, estate planning and Centrelink scenarios, and is seeking more feedback from advisers by the end of May before responding to FASEA.