AFA News 14 July 2021. Last week, FASEA released the results from the May 2021 exam. To date, more than 14,850 advisers have passed the exam, representing 74% of advisers on the ASIC FAR.

There are now only three exam opportunities remaining in 2021, with the July exams commencing this week and we wish all advisers sitting the July exam every success.

Notable highlights from the May 2021 exam results include:

• 1,894 advisers sat the May exam.
• In total 69% of candidates (or around 1,300) passed the May exam.
• 74% of those sitting the exam for the first time passed.
• To date 1,918 advisers have resat the exam after initially failing, and of these 65% have eventually passed.

FASEA have advised that in total 16,700 advisers have sat the exam, with 89% of those ultimately passing the exam.  From the numbers that FASEA have provided, we can deduce that approximately 3,100 advisers have failed the exam at least once, and of these approximately 1,200 have not come back for a second attempt yet. We hope that the recent announcement by the Government of an extension for those who have attempted the exam at least twice will provide an incentive for them to have another go at the exam before the end of this year.

Anyone who has failed the May exam will receive additional individual feedback to highlight the curriculum areas of underperformance.  Candidates will need to log in to the FASEA exam website to access this report.  Candidates will also receive an invitation to a FASEA led webinar to help them understand their results and to provide guidance on how to prepare for their next sitting. We encourage advisers to accept the invitation to this post exam FASEA webinar.

Click here to read the FASEA Media release

Issued 14.07.2021. AFA Policy & Education Update

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