The Financial Adviser Standards and Ethics Authority stated the exam will have a choice of a remote online or face-to-face exam option, subject to meeting COVID-19 requirements.
“Each exam will be offered over multiple days with sittings proposed in both metropolitan and regional venues. In-person sittings will only occur if COVID-19 requirements allow,” it said.
“Advisers who do not wish to attend a physical venue can sit the exam remotely online at any time across those sitting days.”
The August exam is open for registration until 24 July, with over 2,200 advisers registered to date. There will be five sitting days from 13 to 18 August across eight metro and 14 regional physical locations.
In October, there will be five sitting days from 8 to 13 October, across seven metro and eight regional locations.
Five sitting days will also be offered from 5 to 10 November across seven metro and seven regional locations.
To date, approximately 10,250 advisers have sat the exam, FASEA said. In total, approximately 55 per cent of the advisers registered on ASIC’s FAR have either sat the exam or have registered to sit it at future 2020 sittings.
FASEA will offer further exams with multiple sitting days in 2021.
FASEA chief executive Stephen Glenfield said that nearly 8,000 advisers have sat the exam and received results to date, with a majority of 86 per cent successfully passing.
An additional 2,250 advisers sat the exam over five days commencing 11 June 2020 and will receive their results in July. In excess of 2,200 advisers have registered to sit the upcoming August exam. Registration for the August exam remains open until 24 July 2020.
Mr Glenfield said it was also encouraging that there are many advisers who have commenced their education requirements, with nearly 3,000 advisers enrolled in bridging courses and over 6,500 individual bachelor or higher degree subjects being undertaken by existing advisers.
“These are encouraging signs for both consumers and the industry,” he said.
