AFA News 3 December 2020. The results from the October FASEA exam were released in a FASEA media announcement last week. We have reviewed the results and include below an overview for all those who sat the October exam.
| October 2020 | Number | Pass rate | Total passed | Total Failed |
| First sit | 485 | 80.6% | 391 | 94 |
| Subsequent sit | 140 | 60% | 84 | 56 |
| Total | 625 | 76% | 475 | 150 |
The pass rate for those sitting for the first time remains strong, although seemingly declining slightly. There was a much smaller number who sat it this time. A key focus is the pass rate for those who are re-sitting the exam. We are looking at how we can better support these advisers and are talking to FASEA about how more guidance and support can be provided. We understand that FASEA will be providing more support and guidance to those who have failed in 2021. Please contact us through campusafa@afa.asn.au if you are having trouble with the exam.
The table below shows the tracking of the statistics over time. These figures are based upon the FASEA media releases. These pass and fail numbers are estimates and FASEA have suggested that overall, 10,460 advisers have passed. Importantly, approximately 89.5% of those who have attempted the exam so far, have passed, which demonstrates that most of those who struggle to start with, are ultimately succeeding.
| Date | Number Sitting | Pass rate | Estimate Passed | Estimate Failed |
| Jun-19 | 579 | 90% | 521 | 58 |
| Sep-19 | 1,697 | 88% | 1,493 | 204 |
| Dec-19 | 2,981 | 86% | 2,564 | 417 |
| Feb-20 | 2,231 | 82% | 1,829 | 402 |
| Apr-20 | 470 | 79% | 371 | 99 |
| Jun-20 | 2,282 | 84% | 1,917 | 365 |
| Aug-20 | 1,521 | 82% | 1,247 | 274 |
| Oct-20 | 625 | 76% | 475 | 150 |
| Total | 12,386 | 84.1% | 10,418 | 1,968 |
We await the November 2020 results, which will presumably take the overall advice sector above the 50% level for all those advisers registered on ASIC’s Financial Adviser Register having passed.
Advisers who have not yet sat the exam or who have not yet passed, will be able to have three attempts in 2021, as long as they sit one of the first two exams in either late January/ early February or March. FASEA have confirmed that advisers will be able to sit every second exam in 2021.
Issued 03.12.2020. AFA News
