The Australian Securities and Investments Commission (ASIC) has released the dates for the upcoming financial adviser exam in 2022 as it prepares to take administrative control from 1 January.
Industry participants wanting to sit the sixteenth sitting of the exam, but the first exam conducted by the corporate regulator, which will run from 17 February until 21 February 2022, can enrol from 10 January to 28 January.
ASIC noted the details for sittings 17, 18 and 19 are yet to be finalised, but the majority of the exams have been scheduled to occur before 30 September 2022. Additionally, examinees have been given the opportunity to choose to sit the exam in person or remotely, but all exams after 1 October 2022 will only be conducted via remote proctoring.
The corporate regulator said it would soon release its exam guidance and resources – previously overseen by the Financial Adviser Standards and Ethics Authority (FASEA) – including its exam policy, the operation of remote proctoring works, exam preparation and practice questions.
“We will also release information on the eligibility of new financial advisers and foreign existing advisers to sit the exam. All of this information will be available on the ASIC website soon,” it said.
It said it planned to continue FASEA’s relationship with the Australian Council for Education Research (ACER) to administer the exam in 2022.
In addition, participants who sat the exam in November and failed have been given the chance to request a re-mark of their written responses. ASIC said request applications were due by 31 December, with no extensions permitted, and the results will be released by ACER in January.
ASIC has encouraged exam participants with inquiries to contact ACER or refer to its candidate information booklet accessible online.