“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,” FASEA Chief Executive Officer Stephen Glenfield said.

The exam will be available to new entrants and existing advisers between June 20, 2019 and June 24, 2019. The exam will be held across Australia in nine locations: Sydney, Canberra, Brisbane, Townsville, Melbourne, Adelaide, Perth, Darwin and Hobart.

Subsequent exam sittings in 2019 will be in September and December. Further subsequent exam sittings will be held in 2020 during February, April, June, August, October and December.

FASEA has released guidance to help prepare for the exam, which includes detail on the curriculum, reading list and practice questions

About the Exam

The exam is a key requirement of legislative reforms introduced in 2017 to raise the education, training and ethical standards of financial advisers. Existing advisers are required to pass the exam by 1 January 2021. New entrants are required to pass the exam before they commence Quarter 3 of their Professional Year.

The exam will test the practical application of knowledge in the following competency areas:

• Financial Advice Regulatory and Legal requirements (including Corporations Act, Chapter7, 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
• Applied ethical and professional reasoning and communication – incorporating FASEA Code of Ethics and Code Monitoring Bodies.

The FASEA website provides information on how to register for the exam

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