Financial Adviser Exam Guides

Plain-English guides to the ASIC financial adviser exam: the format, the 2026–2027 sittings, the pass mark and pass rates, the cost, who has to sit it and how to prepare. Every figure is dated and linked to ASIC, ACER or the legislation. Then try the free sample questions to see where you stand.

Adviser Exam Prep is an independent study aid for candidates sitting the financial adviser exam. It is not affiliated with, endorsed by or connected to the Australian Securities and Investments Commission (ASIC), the exam's administrator or any AFS licensee. "ASIC" is used only to describe the exam. All questions are original practice material, not past or live exam questions, and nothing on this site is financial advice.

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Financial Adviser Exam Format at a Glance (2026)The ASIC financial adviser exam: at least 70 multiple-choice questions, 3.5 hours with reading time, three equal areas, no calculator. Checked Oct 2026.
Financial Adviser Exam Syllabus: The Three Areas and the Reading ListWhat the ASIC financial adviser exam covers: the three areas, learning outcomes, and the reading list from ASIC's preparation guidance v6.0 (Sept 2026).
Who Must Sit the Financial Adviser Exam, and WhenEvery relevant provider must pass the ASIC financial adviser exam. New entrants must pass before the third quarter of their professional year. Oct 2026.
The FASEA Exam Is Now the ASIC Financial Adviser Exam: What ChangedThe FASEA exam became ASIC's financial adviser exam on 1 January 2022. What changed (written answers dropped, anyone can book) and what stayed.

Dates, cost and results

Financial Adviser Exam Dates 2026–2027: Sittings, Booking and ResultsNext ASIC financial adviser exam: Thursday 5 November 2026, booking closes 5pm AEDT 16 October. 2027 indicative dates, booking windows and results timing.
Financial Adviser Exam Cost: Fees, Resits and What Else to BudgetThe ASIC financial adviser exam costs A$1,500 per sitting, paid at booking, and the full fee again for each resit. Special consideration and other costs.
Financial Adviser Exam Pass Mark and Results, ExplainedASIC sets the financial adviser exam pass mark each sitting within a 65–74% credit grade. You get pass or fail only, 4–5 weeks later, with no appeals.
Financial Adviser Exam Pass Rate by Sitting (2025–2026)ASIC financial adviser exam pass rates by sitting, March 2025 to August 2026 (66% to 73.4%), first-time sitters, and what the 92.76% cumulative rate means.

Preparing and exam day

How to Prepare for the Financial Adviser Exam (and How Hard It Is)How hard the ASIC financial adviser exam is (66–73% pass each sitting), a 10-week study plan, scenario and true/false technique, and pacing tips.
Financial Adviser Exam Practice Questions: ASIC's PDF, ACER's Test and Past PapersASIC's free practice question PDF (64 questions, answers only), ACER's online practice test, why there are no past papers, and how to practise well.
Financial Adviser Exam Day: Remote Proctoring Rules and ChecklistSitting the ASIC financial adviser exam at home: ProctorU and the ACER test app, computer rules, ID, check-in, no calculator, A4 sheet or whiteboard.

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