Eighty two percent of advisers who sat the fourth Financial Adviser Exam in February 2020 passed, compared with an 86+ percent pass rate in December 2019; 88 percent in September 2019 and 90+ percent in the first exams in June 2019.
A statement from FASEA that 2,231 advisers sat the latest February exam and that 7,488 advisers have now sat the examinations, representing 32 percent of advisers on ASIC’s Financial Adviser Register (FAR).
It says overall, 86 percent of advisers who have sat the exam have passed, representing 27 percent of the FAR.
It also noted:
- The February exam was held in seven metropolitan and 10 regional centres across Australia from 13 to 18 February
- The exam was subject to ACER’s comprehensive marking approach
- The exam is marked to credit standard and the pass rate varies with each exam.
“FASEA is pleased with the outcomes of the fourth exam and congratulates successful candidates on completing an important component of their education requirements under the Corporations Act,” FASEA Chief Executive Officer Stephen Glenfield says.
FASEA says that registrations for the June exam, to be held from 11 to 16 June, are open until 22 May 2020 and currently more than 1700 advisers are registered.
“FASEA recognises the continuing challenges presented by COVID-19 on the delivery of face-to-face exams. In order to support advisers, FASEA advises that the June 2020 face-to-face sittings of its Adviser Exam are cancelled due to these challenges and in the best interest of all involved in the exam.”
The authority says that from 14 April, the June exam will be made available for registered candidates to book as a remote online option. From 14 April, an option to defer until the August or a later sitting will also available to candidates.
See FASEA Substitutes Face-to-Face April Exam With Online Options.
For the dates for the August and October exams click here.
Registrations open on the 14 April 2020 for August and 6 July 2020 for October.
That’s almost 20 in every hundred that did not ?? Not overly encouraging a result.
I wonder if we can get an extension on this ? Im trying to keep my business above water at the moment. These exams have taken a back seat position at present and i would assume there are many in my position as well?
Yes its important { i guess } as we don’t have a choice but not worth the paper its written on if i don’t have a business to use it. !!
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