Applications for May exam eligibility numbers to close next week

Enrolment for the May sitting open today, 4 April and closes on Tuesday, 26 April, with the exams to go ahead between Thursday, 12 May and Monday, 16 May.

Meanwhile, new advisers and foreign advisers will have until Tuesday, 12 April to apply for an exam eligibility number which they must have before they can book for the exam.

ASIC said that any application received after that date will not be processed in time for the May sitting.

It comes after it was revealed late last month that just over 30 per cent of candidates passed the February exam, with 73 per cent resitting the exam for at least the second time.

Last year, ASIC confirmed that during 2022, examinees sitting the first three exams could choose to sit the exam in an exam centre or through remote proctoring. From 1 October 2022, exams will only be available via remote proctoring.

In January, BT revealed that completing the exam was identified as the top priority for advisers in 2022.

“The implication, based on current law, is that these advisers will have been removed from the Financial Adviser Register as at 1 January 2022, and will no longer be able to provide personal advice to a retail client,” BT’s head of financial literacy and advocacy Bryan Ashenden said.

Neil Griffiths

Neil is the Deputy Editor of the wealth titles, including ifa and InvestorDaily.

Neil is also the host of the ifa show podcast.