• The July 2022 Financial Adviser Exam, Cycle 18, is the last chance for financial advisers who are eligible for the extension until 1 October 2022 to sit and pass the exam.
• If those advisers do not pass the July sitting, they will need to stop providing personal advice to retail clients on relevant financial products from 1 October 2022.
• Enrolments for this cycle close at 11.59pm on Tuesday 12 July 2022. For more details on how to enrol, please visit the Book to sit the exam

ASIC would like to remind financial advisers who are eligible for the extension to pass the Financial Adviser exam, that Cycle 18 of the Financial Adviser exam is the last opportunity to do so.

Sittings for Cycle 18 will be held in late July and bookings close at 11.59pm on Tuesday 12 July 2022.

If those advisers who are eligible for the extension do not pass the July 2022 sitting, they will need to stop providing personal advice from 1 October 2022 and their Australian financial services licensee will need to revoke their authorisation to provide personal advice on or before 30 September 2022 for the adviser to retain their status as an existing provider.

Financial advisers who lose their status as an existing provider will be treated as a new financial adviser. New financial advisers must meet additional education requirements, including completing the professional year, before they can be re-authorised to provide personal advice.

For more details on how to enrol, please visit the Book to sit the exam webpage. Note, advisers who are eligible for the extension until 1 October 2022 do not have to apply to ASIC for an Exam Eligibility Number, instead they can enrol directly with the Australian Council for Educational Research using their Financial Advisers Register number.

The exam will be held from Thursday 28 July to Monday 1 August 2022.

ASIC has published a Quick Reference Guide which explains the actions an adviser needs to take depending on their circumstances.

ASIC is Australia’s corporate, markets and financial services regulator.