The pass rate in the most recent FASEA exam fell away sharply, with only three in five candidates passing the mandatory test.

FASEA has dropped the requirement for advisers to wait three months before sitting the November exam, giving all practitioners two more opportunities to pass.

The Financial Adviser Standards and Ethics Authority (FASEA) has released the results from the May exam with almost 70 per cent of candidates passing.

Advisers who have failed to pass the FASEA exam on two occasions will be given one last opportunity to do so next year under a new exemption.

Accountants unfamiliar with material covered by the FASEA exam are being offered specialised help to prepare for the remaining exams of 2021.

The list of approved courses continue to grow as Financial Adviser Standards and Ethics Authority adds two qualifications.