The Financial Adviser Standards and Ethics Authority has made a late change to the parameters around its exam schedule, lifting the three-month wait time between exam attempts advisers have had to adhere to in an effort to get more authorised representatives across the line.
All financial advisers who have not passed the exam will have the option to sit the November exam regardless of the time of their last sitting.
In effect, all of these advisers will now get the opportunity for two more sittings before then end of the current transition period; July and November sittings or September and November sittings.
The November exam will be offered via remote proctoring and at exam venues, subject to Covid protocols.
FASEA says it will consult with stakeholders on the proposed amendment to the legislative instrument commencing 14 July 2021.
The news comes after the Minister for Superannuation, Financial Services and the Digital Economy, Jane Hume, announced a 9-month extension to the exam cut-off date for advisers who’ve had at least two attempts at the exam.
The extension is aimed at giving advisers affected by pandemic-induced disruption the chance at a ‘clearer run’ on the exam, Hume told Professional Planner.