New exam format increases success rate for Financial Advisers

The Institute of Financial Services says financial advisers currently sitting their professional exams have a greater chance of passing now, thanks to a new exam format.

It says the pass rate for the Certificate for Financial Advisers has greatly improved since it introduced the new exams late last year.

CeFA is the threshold qualification for financial advisers, and until
recently, the exam has always been sat ‘unseen’.

Now candidates sitting the fourth and most challenging module ‘Assessment of Investment Advice and Knowledge’, can view case study material before the exam and research possible scenarios for their answers.

Mark Roberts, head of faculty financial regulation at the IFS, says: “Professional exams are always tough as candidates need to demonstrate their competency in a simulated environment.

“It makes sense to give students the case study material beforehand, that way they can research alternative answers and make the most of their exam time to show us what they can really do.”

The new exam format is available electronically and candidates who are
currently studying for CeFA exams should contact the IFS directly for more
information.