May adviser exam results revealed

The corporate regulator on Friday confirmed that of the 195 candidates that sat the May exam, 63 per cent or 122 candidates passed.

ASIC disclosed 74 per cent of the May candidates were sitting the exam for the first time.

To date, 20,570 individual candidates have sat the exam, of which over 19,020 (92 per cent) have passed, demonstrating that 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 15,810 are recorded as current financial advisers on ASIC’s Financial Adviser Register (FAR).
• Over 2,990 are ceased advisers on the FAR and may be re-authorised in the future.
• Over 950 passed while completing their professional year of work and training.

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

The next exam sitting will be held on Thursday, 10 August 2023.

Enrolments for the August sitting will open on Monday, 3 July and close on Friday, 21 July.