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Financial Adviser Exam Legislative Instrument

The legislative instrument was informed through consultation received in 26 submissions during the legislative instrument final consultation process for this standard in December 2018 and January 2019.

Under the final standard, FASEA has reduced the reading time for the exam to 15 minutes within a total 3.5 hour sitting period. FASEA has also clarified that exam content under the topic of Financial Adviser Regulatory and Legal Requirements will cover the Tax Agents Services Act (TASA) only and not broader requirements of the Tax Practitioners Board.

Additionally, FASEA has noted that it will consider the addition of further exam centres in 2019 and 2020 for relevant providers sitting the exam in regional areas depending on adviser interest and availability of facilities.

Legislative Instrument

Policy Statement