ASIC releases Feb exam results
The Australian Securities and Investments Commission (ASIC) has released the pass data for the February financial advice exam.
Some 192 candidates sat the exam and the pass rate was 67% with 128 candidates passing the exam.
ASIC said 60% of the February candidates were sitting the exam for the first time.
The mark was a significant upgrade from the previous sitting where 57% passed but was from a far smaller pool of candidates. In November, some 282 candidates sat the test compared to less than 200 in this sitting.
To date 20,425 individual candidates had sat the exam and 93% of them had passed.
Of those who have passed:
- Over 15,850 were recorded as current financial advisers on ASIC’s Financial Adviser Register (FAR), representing 99% of current advisers on the FAR.
- Over 2,840 were ceased advisers on the FAR and may be re-authorised in the future.
- Over 890 passed while completing their professional year of work and training.
However, ASIC issued the first banning in March against an adviser for falsifying his exam results. In December 2021, Karamian changed his financial adviser certificate from a fail result to a pass and sent the altered certificate to his licensee, Bluepoint Consulting.
The next sitting would be held on 11 May, 2023 and enrolments would open on 3 April.
AUTHOR
Laura Dew
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