Sept FASEA exam takers will know fate before Nov deadline
Advisers will receive their September Financial Adviser Standards and Ethics Authority (FASEA) exam results in time to register for the November exam, if they do not pass.
FASEA announced last Thursday there would be no three-month restriction for sitting the November exam, which meant it was possible to sit both the September and November exams, the last two of 2021.
As with other exam sittings, the results were expected to be released within the same six-to-eight-week timeline, from when after the exam had been sat.
However, FASEA said it would ensure that advisers had sufficient time to register for the November exam sitting.
“Once the legislative instrument is finalised, the booking information and FAQs will be updated on our website,” a spokesperson for FASEA said.
“November exam information will be updated to ensure that September candidates are able to register for the November exam.”
As with all other exam bookings, payment would be required to be made upon registration for the exam.
“A refund is not required, as September candidates will receive their results in time to register for the November sitting,” the spokesperson said.
Currently, there was no plan to update the locations of the November exam, but any update would be listed on the FASEA website should it happen.
The current sites for the November exam were Sydney, Canberra, Melbourne, Brisbane, Adelaide, Perth, Darwin, Sunshine Coast, Rockhampton, Toowoomba, Gosford, Bathurst/Orange, Geelong and Launceston, as well as remote proctoring.
Existing advisers had until the end of 2021 to pass the exam, although advisers who failed twice could re-sit up until September 2022.
Over 2,700 advisers had booked for the July exam while over 230 had booked for the September exam.
No 2022 exam dates had been announced yet and FASEA would not be responsible for the exam in 2022 as this would be transferred to the Australian Securities and Investments Commission (ASIC).
The remaining 2021 FASEA exam dates
|
Sitting |
Exam Date |
Exam Registration |
|
2021 – Sitting 13 |
15 July 2021 to 20 July 2021 |
Closed |
|
2021 – Sitting 14 |
9 September 2021 to 14 September 2021 |
31 May 2021 to 20 August 2021 |
|
2021 – Sitting 15 |
4 November 2021 to 9 November 2021 |
26 July 2021 to 15 October 2021* |
Source: FASEA. *November exam registration closing date subject to change.
AUTHOR
Chris Dastoor
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
