Those financial advisers who have sat the Financial Adviser Standards and Ethics Authority (FASEA) exam may have been sworn to secrecy about its nature and contents, but the bottom line appears to be that it is challenging but do-able.
The first two sittings of the exam were conducted last Thursday and yesterday (Monday) with feedback from those who sat it suggesting that it represented a tough but fair test of their knowledge.
A consistent theme appeared to be that the exam was not overly technical and demanded a broad rather than niche knowledge of advice.
Advisers sitting the exam have been obliged to enter into confidentiality arrangements around its content.
