FASEA March exam sees 69% pass rate

The March sitting of the Financial Adviser Standards and Ethics Authority (FASEA) exam has a seen a 69% pass rate, up 2% from the January/February exam which was the lowest pass rate. 

Over 13,500 advisers had passed the exam, which now represented 655 of advisers on the Australian Securities and Investment Commission’s (ASIC’s) Financial Adviser Register (FAR). 

Overall, 89% of advisers who had sat the exam had passed, with 1,182 unsuccessful candidates who had re-sat the exam having a 65% pass rate. 

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The March exam had 2,234 advisers sitting, compared with an average of 1,399 across all exams. 

Stephen Glenfield, FASEA chief executive said over 15,200 advisers had sat the exam with nine-in-10 demonstrating they had the skills to apply their knowledge of advice construction, ethics and legal requirements to the practical scenarios tested in the exam. 

“In recognition of their achievement, passing candidates who give consent, will have their names added to the successful candidates list on the FASEA website,” Glenfield said. 

“Candidates who were unsuccessful in this exam will receive additional individual feedback to highlight the curriculum areas where they have underperformed. 

“They will also receive an invitation to a FASEA led webinar to help them understand their results and provide guidance on how to prepare for their next sitting.” 

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Approx 1,500 advisers on the FAR have sat but not yet passed. They have two more sitting opportunities, and you'd have to assume most of them will ultimately pass.
However approx 5,500 have not yet sat. If they haven't done so by now I suspect most never will.
Therefore FAR to be about 15,000 come Jan 2022.
Most of the attrition will actually be due to not sitting the exam, rather than failing it.

- 8,000 have ceased on the FAR since end of 2018. Now 20,000 there
- 5,000 of the current 20,000 have not yet sat any sitting.
- Four more sittings remain
So your theory is close but probably NQR

A brave to be congratulated lot signing up for the next compliance MIND FUCK of enhanced FDS and trustee consent forms transitioning in existing clients and chasing all clients annually in perpetuity to be paid for our services. Thanks Jane. We thought Kelly O'cluless was bad. You have taken being shit at your job to a new level. All this from a Liberal government if you can believe it. Meanwhile, the milchcow Industry super funds, benefactor to your arch political rivals continue on their merry way. It's a good thing there is no IQ test to be a politician.

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