Only 61% of advisers passed the September Financial Adviser Standards and Ethics Authority (FASEA) exam, as advisers have until Friday to register for the last exam for 2021.
Overall, 88.5% of advisers who have sat the exam have passed and 2,226 unsuccessful candidates had re-sat the exam with 66% passing at a re-sit.
Some 65% of candidates sitting the exam for the first time passed the September exam, compared with an average of 78% across all exams.
There were 1,312 advisers that sat the September exam compared with an average of 1,683 across all exams
Some 32% of candidates resat the exam compared to an average of 29% in recent exams.
Overall, 88.5% of advisers who have sat the exam have passed and 2,226 unsuccessful candidates had re-sat the exam with 66% passing at a re-sit.There were 60% that passed the July FASEA exam and over 16,850 advisers have passed the adviser exams held to date.
Over 14,630 were recorded as active financial advisers on the Australian Securities and Investments Commission (ASIC) Financial Adviser Register (FAR), representing 76% of active advisers on the FAR.
Booking for the November exam – which was open to September exam takers – was currently open and would close on 29 October, 2021.