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”.
