ASIC releases November 2022 financial adviser exam results

ASIC has released exam results from the 19th Financial Advisers Exam cycle, held in November 2022.

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: 

  • 282 candidates sat the November exam
  • 161 (57%) of candidates passed the November exam
  • 43% of the November candidates were resitting the exam for at least the second time
  • 57% of the November candidates were sitting the exam for the first time.

Overall results

To date 20,309 individual candidates have sat the exam. Over 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 15,850 are recorded as current financial advisers on ASIC’s Financial Adviser Register (FAR), representing 99% of current advisers on the FAR.
  • Over 2,700 are ceased advisers on the FAR and may be re-authorised in the future. 
  • Over 800 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 Wednesday 14 December 2022.

Financial adviser exam sittings in 2023

The next exam sitting will be held on 16 February 2023.

Enrolments for the February sitting will open on Tuesday 10 January and close on Monday 30 January.

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.

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Last updated: 08/12/2022 01:30