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 Format at a Glance
📚 FASEA Topics to Study (69)
✍️ Sample FASEA Questions & Answers
1. What distinguishes 'financial product advice' from 'general advice' in the context of FASEA communication obligations?
Personal advice takes into account the client's specific situation and triggers higher disclosure and duty obligations, while general advice must be clearly labeled as not considering personal circumstances.
2. A client becomes hostile during a meeting after receiving advice they dislike. The adviser's best response is to:
De-escalation through empathetic and clear communication reflects professionalism and supports the adviser's duty to act in the client's best interests.
3. 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.
4. Under FASEA, what obligation does an adviser have when they realise a previous recommendation was incorrect or no longer suitable?
Advisers have an ongoing obligation to act in the client's interest, which includes proactively correcting errors or unsuitable advice.
5. Which of the following scenarios would NOT qualify as CPD under FASEA standards?
Social functions where industry topics arise informally do not constitute CPD as they lack defined learning outcomes and professional development intent.
6. A financial adviser teaches a university course on financial planning. Under FASEA's CPD framework, this activity:
Teaching or presenting can qualify as CPD if it requires the adviser to develop or update their own professional knowledge.