In an upcoming episode of The ifa Show podcast, Australian Unity Advice executive general manager Matt Brown said the group had advised its employed planners not to attempt the remote exam sitting using the ProctorU software, and was advising its self-employed planners to “take care”, due to concerns around the susceptibility of the platform to hacking.
“Because of the platform they’re using, from an IT and security perspective, we are counselling our self employed advisers to take care in doing it,” Mr Brown said.
“They’ve got to make that decision because the platform can, from what we’ve been told – and I’m not an IT expert by any stretch – be quite easily hacked from third parties and once they’re into the system, god knows where in your PC they can go.”
ProctorU, which has been a popular choice with major Australian universities as they set up remote exam capabilities for students amid the COVID-19 crisis, requires exam candidates to input photo identification as well as allowing remote proctors access to their computer’s camera, microphone and screen through the computer’s firewall.
It has faced privacy concerns within other educational institutions that are using the software, with the University of Queensland’s student union garnering almost 4,000 signatures from students demanding the university drop the requirement for students in self-isolation to use the platform when taking their exams.
The platform’s privacy policy allows data accessed through its software to be on-sold to third parties in the event of a merger, acquisition, reorganisation, bankruptcy or asset sale.
Mr Brown said while he applauded FASEA’s “innovation” in offering a remote exam option, advisers would need to weigh up for themselves whether the potential security risks were worth attempting a remote sitting.
“I would encourage advisers to take care around that remote setting from a practical standpoint, and just sit the exam when you’re ready,” he said.
AFA general manager of policy and professionalism Phil Anderson also conceded advisers working for larger institutions could face problems sitting the exam remotely due to the security protocols of their employer or dealer group.
“The FASEA advice is that it is only going to be an issue of substance for those groups that have tight IT security controls – the use [the proctors] need is very limited but it may cause a problem with some of the larger institutions that have tighter controls,” Mr Anderson said.
However, he added it was a problem the industry would need to work out a long-term solution for, given the necessity of advisers in remote locations in particular to rely on online proctoring even when the COVID-19 crisis had abated.
Anyone that called for a national exam that everyone must pass to give a bench mark for everyone but then don’t give exam results and have told us they are changed the pass mark every exam is at odds with me and everyone I have told about this.
FASEA only care about one thing – making themselves look good. They couldn’t give a stuff about our profession or our clients. Evidence? Every single standards and every one of their so-called ‘consultations’. FASEA is a parody of what it was supposed to be.
Yes – with “thought leadership” like this – we are all doomed.
Agree. He is ex ANZ – the Millenium3 bucket shop out of the loss making ADG Group. No actual advice experience I can see. Whilst on the FAR, let’s see if he does the exam or quietly slips off it as ‘ceased” next year. I’ll give you odds.
The issue is that we are all running out of time, so exam dates are limited, and the deadline is looming. What other choice is there?
So, the whole of Australian Unity, with their huge IT spend and can’t even set up a room at their Corporate Head Office in Melbourne to host a few of their licensed Advisers in an online exam there? IT can easily isolate the room from the network. They might just have to buy a couple of new laptops and plug them in.
His advice – don’t sit it. Too many scary hackers. The Matrix – oh no! That’s great. What a genius.
Can we find anymore excuses? Meanwhile back at Centrelink desperate Australians called for help and lined up in their hundreds as the financial planning industry was bogged down in FASEA exam, levies, paperwork, red tape looking for PI Cover, and compliance….drowning in compliance red tape unable to help the plea of their struggling Australians during the Corona Cases. There evil puppet masters (product owned licensee’s and the FPA) distracted them from this over bearing compliance regime with trivial matters. In the background Accounting firms forged relationships and won the hearts of Legislators, as they busily had their 20 year old Graduates charge their cilents $300 for a 5 minute “I’ll tell/help you with the process to take money out of super”, appointment.
Step 1 – Buy a cheap laptop for around $350; Step 2 – get around $135 back on tax; Step 3 – save money on transport, parking, lunch, coffee etc as there is no need to attend a central exam location (so we are talking about a net cost of roughly around $150 to $200). Step 4 – don’t load personal information onto this laptop, it is strictly for the exam. Step 5 – Do the bloody exam and stop making excuses!!!!
and how do you buy a reliable internet connection if you dont have one?
Perhaps you could use the same internet connection that gave you access to this website?
Just to assist you a little more, reliable means does not drop out and perform slowly. Obviously you are a bright spark with all of the answers! God help your clients if you are actually an adviser!
so do the FASEA exam on an iphone. Great work champ!
Not as difficult as you may think. “Personal Hotspot” your iPhone to your PC champ. Ask your kids to help you.
Can the whole FASEA issue become more confusing, convoluted and compromised ?
The history of FASEA, the Code of Ethics, the compromised FASEA Board members and the concerns regarding the exam structure is a very clear indication it has not been a successful process in any way.
It is now time Minister Hume and the Govt stepped up immediately and provided the extension to the completion of the FASEA exam and the degree qualification requirements through regulation without delay.
It is unacceptable this issue continues to deliver massive levels of anxiety and stress to advisers who are already under enormous pressures on so many levels including professional, financial and personal.
This is not about avoiding the requirements, but about being realistic and fair in what has been an unprecedented time in all our lives.