In the March exam, held on 6 March, some 241 candidates sat the exam and 73 per cent of them passed.
There was also a high proportion of first-time candidates with 175 sitting the exam for the first time.
This period’s pass mark is less than 77 per cent achieved in November, which was the highest pass mark in two years, but substantially better than 62 per cent in August.
| Sitting | Pass rate |
| March 2025 | 73% |
| November 2024 | 77% |
| August 2024 | 62% |
| June 2024 | 70% |
| March 2024 | 70% |
Source: ASIC, April 2025
The next exam, which test advice construction, ethics and legal requirements via practical scenarios, will be held on 5 June.
To date, 21,812 individual candidates have sat the exam and 92 per cent of them have passed successfully, ASIC said.
At the start of 2024, ASIC announced changes to the exam structure which saw the removal of the short-answer questions from the exam and increased the number of multiple-choice questions. It also removed the requirement limiting exam participation to new financial advisers who have completed an approved degree and existing providers.
