Seventy percent of the nearly 300 people sitting the March 2024 Financial Adviser Exam have passed, ASIC says.
The commission says that of the 298 people sitting the exam 210 (70%) passed and that 230 (77%) were sitting the exam for the first time.
It notes this is the first exam to reflect the Government’s latest amendments to the financial adviser exam legislation. These amendments:
- Removed the short answer questions from the exam and increased the number of multiple-choice questions
- Removed the requirement limiting exam participation to new financial advisers who had completed an approved degree and existing providers (see: March Adviser Exam to Include New Amendments).
In the November 2023 exam, held prior to the changes, 66% passed the exam while 73% of candidates taking the August 2023 exam passed (see: Financial Adviser Exam Results).
ASIC says to date 21,102 individual candidates have sat the exam and more than 19,527 (92%) of those have passed.
