Money & Life contributors draw on their diverse range of experience to present you with insights and guidance that will help you manage your financial wellbeing, achieve your lifestyle goals and plan for your financial future.
1 January 2022 is the deadline for all existing financial planners to pass the FASEA exam. Find out when you can sit the exam in the coming year and how to make sure you’re well prepared.
In December 2020, FASEA announced the latest results from the November exam sittings. All in all, 12,753 financial planners have sat the exam and 11,241 have passed. According to FASEA, this means 48% of financial planners on the Financial Advice Register have yet to pass their exam.
When can I sit the exam?
If you are one of these financial planners, FASEA recommends that you book in for the next exam sitting in March. This will give you up to three opportunities to sit the exam in 2021 to maximise your chances of achieving a pass mark before the 1 January 2022 deadlines.
FASEA is offering 5 more sittings in 2021 both online and in physical locations (subject to COVID protocols). These are in March, May, July, September and November.
In December FASEA reported that, overall, 83% of financial planners sitting the exam have passed. 85.8% of candidates taking the exam for the first time have passed, with 59% passing the exam on their second attempt. These are the pass rates across all exams taken up until the end of 2020.
FASEA provide practice questions from previous exams to help you prepare. They are also introducing a series of webinars to be held before and after each exam sitting in 2021 to help financial planners get ready for their exam and better understand any exam questions they have had difficulty answering.