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
As the year draws to a close, a new report has explored the key trends and areas of focus for financial advisers over the last 12 months.
Assured Support explores five tips to help financial advisers embed compliance into the heart of their business, with 2025 set to see further regulatory change.
David Sipina has been sentenced to three years under an intensive correction order for his role in the unlicensed Courtenay House financial services.
As AFSLs endeavour to meet their breach reporting obligations, a legal expert has emphasised why robust documentation will prove fruitful, particularly in the face of potential regulatory investigations.
