FASEA exam registrations open to advisers
The Financial Adviser Standards and Ethics Authority has opened up registrations for both new and existing advisers to notify their intention to sit the professional exam.
Registrations are open from today until 31 May, with the exam available to new entrants and existing advisers between 20 June and 24 June.
The exam will be held across Australia in Sydney, Canberra, Brisbane, Townsville, Melbourne, Adelaide, Perth, Darwin and Hobart.
Subsequent exam sittings in 2019 will be in September and December. Further exam sittings will be held in 2020 during February, April, June, August, October and December.
Existing advisers are required to pass the exam by 1 January 2021, while new entrants are required to pass the exam before they commence quarter three of their Professional Year.
FASEA said the exam will test the practical application of knowledge in competency areas including:
- Financial advice regulatory and legal requirements (including Corporations Act, Chapter 7, AML, Privacy and Tax Agents Services Act (TASA) 2009);
- Financial advice construction – suitability of advice aligned to different consumer groups, incorporating consumer behaviour and decision making; and
- Applied ethical and professional reasoning and communication – incorporating FASEA Code of Ethics and Code Monitoring Bodies.
“The opening of registrations for the exam is a significant milestone for FASEA and the industry, and I encourage advisers to register as early as possible,” said FASEA chief executive Stephen Glenfield.
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