Relevant Providers Exam Draft Legislative Instrument
This consultation process has now been completed
Under the standard, Relevant Providers and Provisional Relevant Providers will undertake a 3.5 hour (including reading time) invigilated examination comprising at least 70 questions with a mix of selected response and written response question types. The examination will be open book for statutory materials.
The exam will cover Financial Advice Regulatory and Legal Obligations, Applied Ethical and Professional Reasoning and Financial Advice Construction and will be conducted in a range of capital and regional centres. It will attract a fee of $540 excluding GST per student.
FASEA has appointed The Australian Council for Educational Research Ltd, a service provider with comprehensive experience in large scale national exams, to develop and deliver the exam.
The Explanatory Statement to the Legislative Instrument contains additional guidance for stakeholders in the operation and structure of the exam.
FASEA released Consultation Paper 3: Financial Adviser Exam on 11 July 2018 inviting submissions by 31 July 2018 on the guidance contained in the paper.
During the submission period FASEA consulted with key stakeholders representing Industry Associations, individual financial advisers, financial advice licensees, education providers and consumer representatives including facilitating consultation forums with representatives from key stakeholder groups.
A total of 67 formal submissions were received for this standard. All feedback and submissions received due consideration by FASEA in finalising the standard.
MAKE YOUR SUBMISSION
FASEA invites submissions and/or comments on the draft Legislative Instrument through our dedicated consultations email (firstname.lastname@example.org) or via our Contact Us page.
Due date for submission: 5pm 4 January 2019