November adviser exam sees 57pc pass rate

Over half of candidates passed the November adviser exam, according to results released by ASIC.

There were 161 candidates who passed out of a total 282 that sat the exam for a pass rate of 57 per cent. Some 43 per cent of candidates were sitting for at least the second time.

To date 20,309 individual candidates have sat the exam. Over 92 per cent of candidates who have sat the exam have passed.

Of those who have passed:

• Over 15,850 are recorded as current financial advisers on ASIC’s Financial Adviser Register, representing 99 per cent of current advisers on the FAR;
• Over 2,700 are ceased advisers on the FAR and may be re-authorised in the future; and
• Over 800 passed while completing their professional year of work and training.

Unsuccessful candidates will receive general feedback from ACER to highlight the curriculum areas where they have underperformed.

The last exam, held in July and the final before the 30 September deadline, had a pass rate of 52 per cent.

ASIC announced the exam sitting dates for 2023 last month.