The first exam sitting of 2022 will be held from 17 February until 21 February 2022, the corporate regulator announced on Monday (20 December).
ASIC is poised to take over the administration of the financial adviser exam from the Financial Adviser Standards and Ethics Authority (FASEA) from 1 January 2022 following the commencement of the Financial Sector Reform (Hayne Royal Commission Response – Better Advice) Act 2021.
Enrolments for the first sitting, ASIC confirmed, will be open from 10 January 2022 and close on 28 January 2022. The regulator is expected to publish further details about the process for enrolments soon.
To facilitate the administration of the exam, ASIC has entered into a contract with the Australian Council for Educational Research (ACER), which had earlier assisted FASEA with the administration.
“We are working with ACER to finalise Sitting 17, Sitting 18, and Sitting 19 of the financial adviser exam for the remainder of 2022. Including the February sitting, there will be three financial adviser exam sittings taking place before 30 September 2022,” ASIC said.
ASIC confirmed that during 2022, examinees sitting the first three exams could choose to sit the exam in an exam centre or through remote proctoring. From 1 October 2022, exams will only be available via remote proctoring.
The corporate regulator has also released additional information for candidates who sat the exam in November 2021 and want to have it re-marked. According to the statement, candidates can make this request by 31 December 2021. There are no extensions available for this deadline.
Results from the re-mark are expected to be released by ACER in January 2022.
apparently they’re going to water it down for financial planners. what a joke of an industry.
no exam is needed !
should be part of cpd each year
Agree but then the conflicted educators wouldn’t get paid.
No way! We have to have formalised consistent credible exams that are consistent across ALL advisers. CPD is far too easy too get points – in so many cases you could sleep through the session and automatically pass or just copy from the person next to you.
The cost to sit the exam is now up over $1K? Another ASIC Levy??
Please tell us if they are going to look at the format and methodology? in its current form its laughable.
here we go again, studying for weeks, and still getting told the same thing, with no changes at all. its a money spinning exercise , and hurting so many mentally out here
totally agree
What an absolute joke , no relationship to what an adviser does in their business on a day to day basis, absolutely pathetic.
The format changed in the November exam. Less true false questions, much less multiple-choice questions. Instead there were weird and wonderful scenarios that would never happen in real life, to which are attached a list of five of the seven Fasea values. The candidate had to choose which of those values (not the standards) was most appropriate to the scenario. All in two minutes per question thank you very much. Fasea proclaims that the code is all about causing advisers to reflect and contemplate the situation they find themselves in. Two minutes doesn’t cut it, Mr Glenfield. As to ACER, the treatment of candidates as 15-year-olds, if one chooses remote proctoring, is appalling