AFA News 21 May 2021. Last week FASEA released the results from the March 2021 exam, demonstrating further progress with more than 1,500 additional advisers passing the exam.

The deadline for successful completion of the FASEA exam is fast approaching. It is imperative that you complete the exam before the end of this year if you wish to continue to provide financial product advice. There are four exam sittings remaining for 2021 – May, July, September and November.  We wish those sitting the May exam every success.

Notable Highlights from the March 2021 exam results include:

• 2,234 advisers sat the March exam, this was an increase on the average of 1,399, who previously sat across all exams.
• To date, 13,500 advisers have passed the adviser exam, representing 65% of advisers on ASIC’s Financial Adviser Register (FAR).
• Overall, 89% of advisers who have sat the exam have ultimately passed.
• To date, 1,182 financial advisers who have been unsuccessful in sitting the exam have re-sat the exam, with 65% of them eventually passing.
• 69% of candidates passed the March exam and 74% of those who sat it for the first time passed.

According to FASEA, over 15,200 advisers have sat the exam to date with 89% passing.

It is important to note that candidates who were unsuccessful in this exam will receive additional individual feedback to highlight the curriculum areas where they have underperformed. They will also receive an invitation to a FASEA led webinar to help them understand their results and provide guidance on how to prepare for their next sitting.

We highly recommend that you attend the FASEA webinar and respond to the invitation.

Click here to read the FASEA Media release.

Issued 21.05.2021. AFA Policy & Education Update