82% pass FASEA August exam
The Financial Adviser Standards and Ethics Authority (FASEA) has released the August 2020 exam results with 82% passing, down 2% from the average of 84%.
The exam was held on 13-18 August, online and in exam centres, and 10,000 advisers overall had now passed the exam.
65% of advisers re-sitting the exam passed on their second attempt, compared to an average of 54% in previous exams.
So far, an average of 1,600 advisers had sat the exam with 1,521 sitting during the August session.
Overall, 89% of advisers who had sat the exam had passed, representing 46% of advisers on ASIC’s Financial Adviser Register (FAR).
Stephen Glenfield, FASEA chief executive, said: “Over 11,180 advisers have sat the exam with nine-in-10 demonstrating they have the skills to apply their knowledge of advice construction, ethics and legal requirements to the practical scenarios tested in the exam”.
AUTHOR
Chris Dastoor
Recommended for you
Money Management examines the share price of financial advice licensees over one year to 31 March, with M&A actions in the final quarter having a positive effect for two licensees.
A $3.5 million settlement for victims of Melissa Caddick has been approved by the Federal Court following an initial agreement last December.
The Reserve Bank of Australia has delivered its first rate decision since the introduction of a new board structure last month.
Digital advice provider Otivo has launched an interactive tool, powered by artificial intelligence and Otivo’s own advice engine, to help answer client questions.
