Practice Test Geeks(FASEA) Financial Adviser Standards and Ethics Authority Practice Test
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FASEA Financial Planning and Advice Standards Flashcards

6 cards from real FASEA practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

Read the first 6 FASEA Financial Planning and Advice Standards flashcards as text

  1. Under FASEA education requirements, what minimum qualification level must new financial advisers obtain?

    Answer: Bachelor's degree or equivalent in an approved field

    FASEA requires new financial advisers to hold at least a bachelor's degree or equivalent qualification in an approved field of study.

  2. The FASEA Financial Adviser Exam (FAE) is a requirement for which group of advisers?

    Answer: All financial advisers regardless of experience

    All financial advisers, including existing practitioners, were required to pass the FASEA Financial Adviser Exam as part of the professionalism reforms.

  3. What is the primary purpose of the FASEA Code of Ethics for financial advisers?

    Answer: To establish professional and ethical standards that protect client interests and build public trust

    The FASEA Code of Ethics establishes the ethical and professional standards that financial advisers must meet to protect clients and restore public confidence in the industry.

  4. How many standards are contained in the FASEA Code of Ethics?

    Answer: 12

    The FASEA Code of Ethics contains 12 standards that govern the professional and ethical conduct of financial advisers.

  5. Under FASEA standards, what does the term 'personal advice' refer to?

    Answer: Advice that takes into account a client's personal circumstances and objectives

    Personal advice is financial advice that takes into account the client's specific circumstances, objectives, and financial situation, as opposed to general advice.

  6. What distinguishes 'general advice' from 'personal advice' under FASEA and Corporations Act standards?

    Answer: General advice does not take into account personal circumstances; personal advice does

    General advice is not tailored to any individual's circumstances, while personal advice specifically considers the client's financial situation, needs, and objectives.

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Sources & references

Exam facts on this page (fees, format, dates, passing scores) are checked against these official sources; the date is our last check. Editorial policy

  1. download.asic.gov.au — Exam format, exam information · verified Nov 2026
  2. asic.gov.au — Test delivery, passing score, retake fee, retake policy, score release, score validity, eligibility, fees, late registration · verified Oct 2026