Over half of candidates passed the May adviser exam, according to results released by ASIC on Friday morning.

There were 122 candidates who passed out of a total of 195. Seventy-four per cent of the candidates were sitting the exam for the first time.

Of those who have passed:

  • Over 15,810 are recorded as current financial advisers on ASIC’s Financial Adviser Register;
  • Over 2,990 are ceased advisers on the FAR and may be re-authorised in the future; and
  • Over 950 passed while completing their professional year of work and training.

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

The last exam, held in February, had a pass rate of 67 per cent.

The next exam will be held on 10 August 2023. Enrolments for the August sitting will open on Monday 3 July and close on Friday 21 July.