Posts tagged Exam
Keep holding on: FASEA's delay and deferment

Smarter compliance. If you were registered on the adviser register prior to 1 January 2019, and preparing for the exam or the qualification, you’ve been given a temporary reprieve. The Assistant Minister for Financial Services, Superannuation and Financial Technology, Jane Hume, has thrown you a lifeline by announcing a 2-year extension for the FASEA qualification to 1 January 2026, and a 1-year extension for the FASEA approved exam to 1 January 2022. This article explores the deferment and its practical impact. It even offers practical solutions for those advisers hanging on by their fingertips and wondering how to move forward.

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Hang on: Reacting to FASEA exam results

Smarter Compliance. After months of apprehension and uncertainty, almost 600 advisers sat the inaugural FASEA exam and over 90% passed. This result would normally be interpreted as a positive one, but many people have simply seized on the result and dismissed the exam entirely. The high pass rate may be reassuring, disappointing, both or neither but there’s a high chance that it can be misleading. This article explains why most advisers should continue to prepare for a challenging examination of their knowledge and capability.

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No "bad moon rising": The FASEA Exam

Smarter Compliance. Some advisers seem to fear the FASEA exam even more than the inevitable Zombie apocalypse. Their apprehension is understandable but only legitimate if they ignore their deep, practical understanding of the the financial services laws and the challenges of dealing with retail clients. Any adviser currently authorised by a responsible Licensee should have the the knowledge and the practical wisdom they need to satisfy FASEA. This article addresses advisers’ apprehension and provides some tips for managing it.

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FASEA's proposed exam: Looking for a complication

The popular view of acceptable 'training and education' for financial advice professionals seems to increase with each new licensee failure and public scandal. While most advisers admit the initial base was quite low,  expectations have increased dramatically. Now, with new education standards looming on the horizon, the landscape of financial advice looks to change forever. This is a great outcome for the emerging advice profession but FASEA’s proposed examination requires careful consideration.

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