Sixty two percent of the 231 people sitting the August 2024 financial adviser exam have passed, ASIC has announced.
The commission says that in the August exam cycle 62% (143) passed the exam and that 73% (170) sat the exam for the first time.
In both the March 2024 and the June 2024 exam cycles 70% of those sitting passed the exam.
ASIC notes that to date, 21,430 individual candidates have sat the exam and more than 19,835 (92%) of candidates have passed.
It adds the indicative dates for exams in 2025 are:
- 6 March
- 5 June
- 7 August
- 6 November
A reasonable interpretation of this report would be that most of the failures would involve new entrants into our industry, on the assumption that those Advisers who failed this ridiculous examination are no longer in the industry or practising under general advice.
One has to wonder if the same non-practising geniuses that previously drafted the questions for the exam under Mr Glendenning are now being engaged by ASIC to carry on as normal.
I would suggest that in its current form, the ASIC exam has reached its used- by date
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