This is really important for anyone planning to sit the ASIC Financial Adviser Exam.
The ambiguous short answer questions have been removed (I can almost hear the huge sigh of relief through my computer!), in favour of only MCQs and T/F questions.
The updatedย Exam Preparation Guidance 4.0ย document states: โThe exam will include multiple choice or true/false selected-response questions, requiring you to respond in the following way:
* ๐ ๐๐น๐๐ถ๐ฝ๐น๐ฒ ๐ฐ๐ต๐ผ๐ถ๐ฐ๐ฒ ๐พ๐๐ฒ๐๐๐ถ๐ผ๐ป๐ โ these questions require you to select the correct answer from a selection of four โ (a), (b), (c) or (d). You will receive one mark for each correct answer.
* ๐ง๐ฟ๐๐ฒ/๐ณ๐ฎ๐น๐๐ฒ ๐พ๐๐ฒ๐๐๐ถ๐ผ๐ป๐ โ these questions will ask you to determine whether the statement is true or false. You will need to answer all components correctly to receive one mark.
** Important Note**
In my time as the ย โFASEA Guy”, during which I have helped almost 2,000 prepare for and pass the exam, the T/F questions posed their own perils.
A lot of advisers struggled with answering these questions because of the way they were worded, and the fact each T/F question had at least 2 parts and you had to get both parts correct to get 1 mark.
But do not fear – there is a technique to answering MCQ and T/F questions that advisers should practice before sitting the exam, and structured preparation is the key to successfully completing the Adviser Exam.
As the FASEA Guy, I developed the signature โ๐ฏ ๐ฃ๐ถ๐น๐น๐ฎ๐ฟ๐ ๐ผ๐ณ ๐ฃ๐ฟ๐ฒ๐ฝ๐ฎ๐ฟ๐ฎ๐๐ถ๐ผ๐ปโ approach to sitting the exam which includes:
*** Knowledge โ know the core content and be prepared to learn; not as an expert who is forever reading, but enough to be able to apply the knowledge in practice.
*** Practice โ daily practice of reflection to reinforce the knowledge learned. This includes continually questioning the information, examining it, seeing how it applies to hypothetical scenarios, and what it prompts you to think.ย The idea is to not simply passively accept information, but rather interrogate it so it becomes learned knowledge.
***Mindset โ control, persistence, & focus; know what is within your control & what is not.ย Research to discover insights and be mentally prepared for any obstacles or hurdles that may unexpectedly arise
Good luck to those who are sitting the exam and please feel free to DM Joel Ronchi or reach out if you have any questions.
Joel Ronchi
Principal Consultant, myIntegrity in Practice
joel@myintegrity.com.auย ย |ย 0408 056 679
Level 2, 420 Collins Street, Melbourne 3000