ASIC has released the results of the latest financial adviser exam, held in November 2025.

The November exam was sat by 308 people and had a pass mark of 67.5 per cent, representing 208 people. 

This is largely unchanged from the past two sittings which had a pass mark of 68 per cent in August and 66 per cent in June.

Three-quarters of candidates were sitting the exam for the first time, ASIC said.

Sitting 

Pass rate

August 2025

68%

June 2025

66%

March 2025

73%

November 2024

77%

August 2024

62%

Source: ASIC, September 2025

To date, 22,386 individual candidates have sat the exam. Of these, 20,754 (92 per cent) candidates have passed the exam, demonstrating they have the skills to apply their knowledge of advice construction, ethics and legal requirements to the practical scenarios tested in the exam.

The next exam will be held on 5 March 2026. The booking period for this exam opens 23 January 2026 and closes 13 February 2026.

At the start of 2024, ASIC announced changes to the exam structure which saw the removal of the short-answer questions in the exam and increased the number of multiple-choice questions. It also removed the requirement limiting exam participation to new financial advisers who have completed an approved degree and existing providers.