AFA News 26 August 2021. Following a recent Senate Estimates hearing, FASEA were asked questions about the FASEA exam. Of interest is; up to May 2021, there have been twelve sittings of the exam. In total 14,854 advisers have passed the exam, however, 1,510 of them are no longer on the Financial Adviser Register. The majority of candidates have passed the exam on their first attempt, however, a number have not and some have sat it five times.
FASEA advised they have been providing feedback to advisers who have not passed the exam through individual candidate feedback and group webinars.
FASEA noted, there were 1846 out of 1918 candidates (96%) who were yet to pass and whose raw percentages were between 50% and the credit level pass mark for the most recent exam they sat.
FASEA advised, eight advisers, have attempted the exam five times, with four of those passing on their fifth attempt. Across the twelve sittings, 1,516 candidates have attempted the exam two or more times, with 65% ultimately passing. FASEA has advised that 4,449 advisers who are currently on the Financial Adviser Register are yet to attempt the exam.
Click here to review Answers to Questions on Notice – FASEA exam pass rates
Click here to review Answers to Questions on Notice – FASEA exam statistics
Click here to review Answers to Questions on Notice – FASEA exam
Issued 26.08.2021. AFA Policy & Education Update