ASIC has announced the first sitting of the financial adviser exam in 2022 will be held from 17 February until 21 February.
It says enrolments for this sitting will be open from 10 January 2022 and close on 28 January 2022 and that it will publish further details about the process for enrolments soon.
ASIC takes over administration of the financial adviser exam from FASEA from 1 January 2022 following the commencement of the Financial Sector Reform (Hayne Royal Commission Response – Better Advice) Act 2021.
The statement from ASIC says that to facilitate the administration of the exam, ASIC has entered into a contract with the Australian Council for Educational Research which assisted FASEA with the administration of the exam and will continue to assist ASIC through 2022.
“We are working with ACER to finalise Sitting 17, Sitting 18, and Sitting 19 of the financial adviser exam for the remainder of 2022. Including the February sitting, there will be three financial adviser exam sittings taking place before 30 September 2022,” ASIC says.
During 2022, examinees sitting the first three exams can choose to sit the exam in an exam centre or through remote proctoring. From 1 October 2022, exams will only be available via remote proctoring.
Re-mark Arrangements For November 2021 Exam
The statement adds that candidates who sat the exam in November 2021 may request a re-mark of their written responses if they do not pass the exam.
Applications for a re-mark will be due by 31 December 2021 and ASIC says there are no extensions available for this deadline. Results from the re-mark will be released by ACER in January 2022.
It adds that advisers can contact ACER at faexam@acer.org regarding any queries about booking and sitting the exam, and to request a re-mark of the written response questions.
ASIC Support
The statement also notes that ASIC will soon be publishing guidance and resources previously hosted by FASEA.
“We will also release information on the eligibility of new financial advisers and foreign existing advisers to sit the exam. All of this information will be available on the ASIC website soon.”
ASIC adds that it will be sharing important information about the steps Australian financial services licensees should take for financial advisers yet to pass the exam, including those financial advisers who have requested a re-mark of their November 2021 exam, in the coming days.
Click here for information relevant to financial advisers on ASIC’s new Financial Adviser Hub.
