ASIC releases February 2023 financial adviser exam results

ASIC has released exam results from the 20th Financial Advisers Exam cycle, held in February 2023.

The exam has been continuously conducted by the Australian Council for Educational Research (ACER) since its inception and follows a rigorous process to ensure all candidates in all cycles are held to the same standard.

In this exam cycle:
192 candidates sat the February exam
128 (67%) of candidates passed the February exam
60% of the February candidates were sitting the exam for the first time.
Overall results:
To date, 20,425 individual candidates have sat the exam. Over 18,890 (93%) of candidates who have sat the exam have passed, demonstrating they have the skills to apply their knowledge of advice construction, ethics, and legal requirements to the practical scenarios tested in the exam.

Of those who have passed:

Over 15,850 are recorded as current financial advisers on ASIC’s Financial Adviser Register (FAR), representing 99% of current advisers on the FAR.
Over 2,840 are ceased advisers on the FAR and may be re-authorized in the future.
Over 890 passed while completing their professional year of work and training.
For this exam cycle, as has been the practice for past exams, unsuccessful candidates will receive general feedback from ACER to highlight the curriculum areas where they have underperformed.

Candidates can contact ACER at [email protected] to request a re-mark of the written response questions. Requests for a re-mark must be submitted by Thursday 30 March 2023.

Financial adviser exam sittings in 2023
The next exam sitting will be held on 11 May 2023.

Enrolments for the May sitting will open on Monday 3 April and close on Friday 21 April.

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