FASEA Study Guide 2026
Everything you need to pass the FASEA exam in one place: the exam format, every topic to study, real practice questions with explanations, flashcards, and full-length practice tests. Free, no sign-up needed.
FASEA exam key facts
- The financial adviser exam has at least 70 multiple-choice questions, split equally across the examined areas, with no marks deducted for wrong answers. Source
- The financial adviser exam is graded pass or fail on a scaled score, with the pass mark set each cycle by an expert panel starting from a university credit grade of 65–74%. Source
- The ASIC financial adviser exam costs A$1,500 for each sitting, payable when booking, with no GST component. Source
- Candidates who fail the financial adviser exam can book the next sitting and re-sit as many times as needed, but must re-sit the entire exam. Source
- A pass in the financial adviser exam does not expire, so it never has to be sat again. Source
📋 FASEA Exam Format at a Glance
📚 FASEA Topics to Study (25)
✍️ Sample FASEA Questions & Answers
1. When a financial adviser identifies that a client may need advice outside their area of expertise, what is the FASEA-compliant action?
Advisers must refer clients to appropriately qualified specialists when advice is needed outside their own area of competence, consistent with competence and best interests obligations.
2. Under FASEA standards, what is the requirement regarding confidentiality?
Under FASEA standards, confidentiality is a critical ethical duty that requires financial advisers to protect sensitive client information. Storing client information securely, whether digitally or physically, is essential to prevent unauthorized access, disclosure, or misuse. This practice upholds client privacy, maintains trust, and complies with legal and ethical obligations to safeguard personal and financial data.
3. Which of the following conditions must be met for a person to satisfy the 'retirement' condition of release for their superannuation benefits before age 60?
Before age 60, a member must reach their preservation age AND satisfy the fund trustee that they have permanently retired from the workforce.
4. Which of the following is an example of ethical professional behavior?
Providing objective advice is a cornerstone of ethical professional behavior, especially in fields like financial advising. It means offering recommendations based solely on the client's best interests and factual analysis, free from personal biases, conflicts of interest, or incentives for specific products. This ensures that the advice is trustworthy, impartial, and genuinely aimed at benefiting the client.
5. A client's goals include paying off debt and building retirement savings. Under the best interests duty, the adviser should:
Advisers must consider all of a client's stated goals and structure advice that comprehensively and appropriately addresses their overall financial situation.
6. When assessing whether advice satisfies the best interests duty, which factor is most important?
Suitability of advice to the client's individual needs, objectives, and financial situation is the core test for meeting the best interests duty.
🎯 Free FASEA Practice Tests
📖 FASEA Guides & Articles
What Practice Test Geeks adds beyond an AI chat for FASEA
An AI chatbot can quiz you, but it can't reproduce the exam conditions or keep your record. Here you get:
- A timed, full-length FASEA mock exam — 70 questions in 210 minutes with a 70% pass mark, modeled on the official exam's question count and time limit, followed by a score report broken down by exam domain.
- A fixed FASEA question bank: the same test every attempt, so your score is comparable from one try to the next instead of changing with every regenerated quiz.
- Progress saved on your device: completed tests, scores and missed questions stay in My Progress, so you can retake only what you got wrong.
- A printable FASEA cheat sheet you can print or save as a PDF.
- FASEA flashcards built from the same question bank.
- Free FASEA practice tests with the correct answer shown after each question.
How this page was made: written with AI tools and published by Nathan Beja, founder of Practice Test Geeks, who is responsible for its content. Exam facts are checked against the official sources listed below. Not reviewed by a subject-matter expert. Editorial policy
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
- download.asic.gov.au — Exam format, exam information · verified Nov 2026
- asic.gov.au — Test delivery, passing score, retake fee, retake policy, score release, score validity, eligibility, fees, late registration · verified Oct 2026