More than 60% of the candidates sitting the May 2023 Financial Advisers Exam passed, according to ASIC.
The regulator says that in this exam cycle:
- 195 candidates sat the May exam
- 122 (63%) of candidates passed the May exam
- 74% of the May candidates were sitting the exam for the first time
ASIC adds that to date 20,570 individual candidates have sat the exam and that more than 19,020 (92%) of candidates who have sat the exam have passed.
Of those who have passed:
- Over 15,810 are recorded as current financial advisers on ASIC’s Financial Adviser Register
- Over 2,990 are ceased advisers on the FAR and may be re-authorised in the future
- Over 950 passed while completing their professional year of work and training
For this exam cycle, as has been the practice for past exams, unsuccessful candidates will receive general feedback from ACER to highlight the curriculum areas where they have under-performed.
Next Exam Sitting
ASIC notes that the next exam sitting will be held on 10 August 2023. Enrolments for that sitting will open on Monday 3 July and close on Friday 21 July.
Click here for other 2023 exam sitting dates.
What an abject waste of time and money for experienced advisers simply wanting to be with and support their clients every day – especially specialist risk advisers. I’m reminded of the quote from Ayn Rand (author of Atlas Shrugged) to which I’m sure you’ll all relate:
“When you see that in order to produce, you need to obtain permission from men who produce nothing – When you see that money is flowing to those who deal, not in goods, but in favors – When you see that men get richer by graft and by pull than by work, and your laws don’t protect you against them, but protect them against you – When you see corruption being rewarded and honesty becoming a self-sacrifice – You may know that your society is doomed.”
Could apply to academics, politicians and certain industry ‘entities’ all in, perhaps, different ways. Can you spell F-A-R-C-E I-A?
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