FASEA Eases Adviser Exam Rules


FASEA has announced its decision to provide all financial advisers who have yet to pass the financial advisers exam, “the option to sit the November exam irrespective of the timing of their last sitting.”

A statement from the authority says that the Corporations (Relevant Providers Exam Standard) Determination 2019 will be amended to provide relief from the three month registration requirement.

“This amendment will provide financial advisers with two opportunities to sit the exam before the end of the current transition period (being either July and November sittings or September and November sittings),” it says.

FASEA notes that this amendment will allow all candidates who have been unsuccessful at any prior sitting to sit the November exam which will be offered via remote proctoring and at exam venues, subject to Covid protocols. (Also see: FASEA Exam Rates Plateau.)

It adds that it will consult with stakeholders on this proposed amendment to the legislative instrument commencing 14 July 2021.

The authority says that this amendment will also provide those impacted by the NSW lockdown with additional future exam options if required. ACER will contact the impacted July candidates to provide alternative options for their July sitting. (Also see: Limited Extension to FASEA Exam Requirements Announced.)