The Financial Adviser Standards and Ethics Authority has named the provider that will develop and deliver the national adviser exam.
It has appointed the Australian Council for Educational Research to deliver the exam, which will cover topics including financial advice regulatory and legal obligations, applied ethical and professional reasoning, and financial advice construction.
The exam will be conducted in a range of capital and regional centres. It will attract a fee of $540 excluding GST per student.
Under FASEA’s legislative instrument for the relevant provider examination, relevant providers and provisional relevant providers will undertake a 3.5-hour (including reading time) invigilated examination comprising at least 70 questions with a mix of selected response and written response question types.
The exam will be open book for statutory materials.
Further, FASEA has released an explanatory statement to the legislative instrument that contains additional guidance for stakeholders in the operation and structure of the exam.
“We welcome stakeholder feedback for the final phase of development of FASEA’s relevant provider examination standard and it will be reviewed prior to release of the final standard,” said FASEA chief executive Stephen Glenfield.
The legislative instrument was informed from consultation received through 67 formal submissions during FASEA’s consultation process for this standard from March to June 2018. Feedback and submissions on the legislative instrument are due by 4 January 2019.
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