ASIC has released exam results from the 21st Financial Advisers Exam cycle, held in May 2023.
The exam has been continuously conducted by the Australian Council for Educational Research (ACER) since its inception and follows a rigorous process to ensure all candidates in all cycles are held to the same standard.
In this exam cycle:
- 195 candidates sat the May exam;
- 122 (63%) of candidates passed the May exam;
- 74% of the May candidates were sitting the exam for the first time.
Overall results:
To date 20,570 individual candidates have sat the exam. Over 19,020 (92%) of candidates who have sat the exam have passed, demonstrating they have the skills to apply their knowledge of advice construction, ethics and legal requirements to the practical scenarios tested in the exam.
Of those who have passed:
- Over 15,810 are recorded as current financial advisers on ASIC’s Financial Adviser Register (FAR).
- Over 2,990 are ceased advisers on the FAR and may be re-authorised in the future.
- Over 950 passed while completing their professional year of work and training.
For this exam cycle, as has been the practice for past exams, unsuccessful candidates will receive general feedback from ACER to highlight the curriculum areas where they have underperformed.
Candidates can contact ACER at faexam@acer.org to request a re-mark of the written response questions. Requests for a re-mark must be submitted by Thursday 22 June 2023.
Financial adviser exam sittings in 2023
The next exam sitting will be held on 10 August 2023.
Enrolments for the August sitting will open on Monday 3 July and close on Friday 21 July.
For the dates of all 2023 exam sittings, and details around eligibility to sit the exam, see ASIC releases sitting dates for 2023 financial adviser exams.
All exams are delivered by remote proctoring.
For more information visit Financial adviser exam.
ASIC is Australia’s corporate, markets and financial services regulator.