Financial Adviser Exam Pass Mark and Results, Explained

5 min read · facts checked 12 Oct 2026

As at 12 October 2026, ASIC publishes no fixed pass mark for the financial adviser exam: under the Determination (s 2-55(10)) the exam is marked to an overall credit grade of 65% to 74%, ASIC sets the final passing mark for each exam, and you are told only whether you passed or failed.

How the pass mark is set

• ASIC uses standard setting. Its FAQs say the starting point is aligned to a typical university credit grade, 65–74%.
• ACER says the pass mark is reviewed for each exam cycle and may be adjusted for differences in exam difficulty, to keep the standard the same.
• Results are worked out on scaled scores so that different versions of the exam can be compared. No scaled pass score is published.

What your result looks like

• Pass or fail only. ASIC's FAQs say you cannot get a numerical mark.
• Timing: results arrive four to five weeks after the exam.
• Feedback: if you don't pass, ACER gives general feedback on the areas where you underperformed.
• No appeals: there are no appeals against exam results. The review of written responses ended when written questions were removed in 2024.
• No expiry: a pass does not expire, and you only need to pass once.

Our 70% practice line

If you don't pass

You can book the next sitting straight away: there is no limit on attempts and no waiting period, but you pay the full A$1,500 each time. ASIC's exam policy says the questions are changed regularly, so a resit is a different set of questions. Use ACER's feedback to pick your weakest area, then follow the preparation guide. The pass rate guide shows how many candidates pass each sitting.