This video will help you work out:

• how much time you need
• create good study habits.

You’re more likely to pass if you have a study strategy.

How much time do you need to prepare?

• Start with your exam date and work backward.
• Consider what could get in the way.
• Give yourself enough time to prepare for the exam:
  • consider workload
  • family priorities
  • other commitments.
• Choose your exam date and book it in.

Work at your best time to study

• Consider:
  • energy levels
  • best time of day to avoid distractions
  • where you will study.

Good study habits

• Block out non-negotiable time in your diary.
• Use the resources:
  • Exam Preparation Guide
  • reading material:
    • focus on what you need to know
    • read to understand how it applies to practical situations
  • practice questions
  • look at past exam result feedback.
• Write notes as you go …
  • writing notes helps you retain information:
    • consider trying a mindmap
    • you may want to draw a diagram to explain concepts.
  • Do the practice questions:
    • get used to the type of questions you’ll be asked and how long it takes to do them
    • replicate exam conditions.
  • Find study buddies:
    • join a group or study forum
    • stay accountable
    • consider leveraging your network.

Before you start any study program understand:

• what the exam is testing
• the areas past exam candidates had trouble with.

What’s being tested

• The exam has been designed to test how you can apply your knowledge to everyday advice scenarios:

1. 1. financial advice regulatory and legal requirements
   2. financial advice construction
   3. applied ethical and professional reasoning and communication.

We’ve analysed exam results and share the key areas candidates struggle with.

Note: This is not intended to replace the Exam Preparation Guide.

Understand the relevant acts and how they apply

• Know which documents are needed at each step of the advice process and show you understand:
  • what’s in each section
  • how each obligation applies to different client scenarios
  • who it is for.

Be clear on the difference between:

• your licensee standards
• legal and regulatory acts.

You need to answer the questions according to the acts not your licensee standards

• Make sure you understand the differences between your licensee standards and the regulatory requirements in the acts:

1. 1. Corporations Act (Chapter 7)
   2. Privacy Act
   3. Anti-Money Laundering
   4. TASA

Understand key definitions

• Know the difference between:
  • personal advice
  • general advice
  • factual information
  • personal information
  • sensitive information

and apply these to client scenarios.

Know how to identify a breach and what action to take

• You need to know:
  • what is a breach
  • who needs to know about a breach
  • how to report a breach
  • what the penalties are for a breach and not reporting it.
• Apply the code of ethics:
  • know the difference between the financial advice code of ethics and the Corporations Act 2001
  • understand the standards and value definitions
  • determine how the standards apply to client scenarios.
• Code of ethics:
  • The 12 standards are grouped into four areas:
    1. ethical behaviour
    2. client care
    3. professional commitment
    4. quality process.
  • Embedded values:
    • Trustworthiness
    • Competence
    • Honesty
    • Fairness
    • Diligence
• Understand clients and their behaviours
  • You need to demonstrate:
    • how you identify client biases, and
    • how biases influence key decisions and behaviours.

Know what to expect so you feel relaxed on the day:

• pick an exam setting that works for you
• understand the exam conditions
• if doing the exam remotely, follow the Remote Proctor Guide.

Choose your exam date and time:

• pick the exam sitting that works for your best time of the day
• allow plenty of time to minimise stress (don’t do it between clients or meetings).

Watch the Financial Adviser Exam candidate information video.

On the day - Remember:

• make sure you have your admission ticket and valid ID
• check your wi-fi and system access if doing the exam remotely
• don’t bring anything in.

During the exam

• It’s normal to be nervous:
  • stay calm and focused
  • trust you’ve done enough
  • clear your mind of everything except what’s in front of you.
• Monitor your question time:
  • you have 3 hours 15 minutes plus 15 minutes reading time
  • monitor your question time to ensure all questions are answered.
• Read the questions carefully and answer only what is being asked and in the way it is requested.
• If you get stuck on a question flag it and come back to it.

Sitting the exam remotely?

• Follow the steps in the Remote Proctor Guide so you’re prepared.
• Download the exam app and do the technical checks early so you can troubleshoot any issues.