ASIC Financial Adviser Exam Practice Updates and Feedback

Current practice

Finance Prep offers 1,014 original practice questions: 343 on regulatory and legal obligations, 336 on ethical and professional reasoning, and 335 on advice construction. The bank includes 864 single-answer questions, 150 Select TWO exercises and 113 diagrams. See the coverage map and free practice diagnostic .

Our scope follows ASIC’s exam policy and preparation resources . Select TWO is additional learning practice; it does not reproduce ASIC’s grouped true/false interface. Mastery Exam Prep and Finance Prep are independent of ASIC and ACER.

September 24, 2026 — 114 new questions, diagrams and corrected explanations

We added 114 reviewed questions to the existing 900-question bank, bringing the total to 1,014. The additions use actor relationships, process dependencies and event sequences; 113 include diagrams, with text descriptions and explanations.

The expansion review also corrected ten earlier questions, including distinctions between individual advisers and corporate licensees under the Code of Ethics, consent requirements, and the timing of insurance cash payments. Earlier on the same date, we published 52 question corrections addressing confirmed factual, reasoning and option-quality issues. The later review built on those repairs; these figures describe two separate passes rather than a count of distinct questions across both.

The bank retains its existing identity and useful earlier practice. No questions were removed in this expansion. The public 70-question set now includes three diagram examples and current versions of the previously affected licensee-capacity, informed-consent and changed-needs questions.

All 114 additions and their 113 diagrams received content and visual review; 60 related earlier questions were also checked for the issues found. This is editorial quality assurance, not official endorsement or statistical validation of exam readiness.

September 17, 2026 — Clearer practice guidance

We checked the current question inventory and clarified the website’s coverage figures, practice formats and score interpretation. The study plan now explains how to review close alternatives and use official format examples. The scenario guide adds worked comparisons involving replacement benefits and changed client needs.

A selected-question review also identified an answer-clarity issue for further review. This website update does not replace or certify every question in the bank. The feedback form below provides a direct route for specific concerns.

September 7, 2026 — Rebuilt applied-practice bank

The rebuilt bank introduced 900 questions across short cases, knowledge checks, detailed scenarios, exhibits, changed circumstances and Select TWO practice. Release reviews addressed selected regulatory distinctions, timing conditions and explanation clarity. Supporting glossary cards were subsequently published for term lookup during study.

What a practice score can tell you

Use an unfamiliar set to identify gaps in knowledge, interpretation and advice reasoning. Review explanations and compare performance across the three areas. Repeating a familiar form can improve recall without demonstrating transfer to a new case.

Question count, scenario length and editorial review do not establish equivalence to the official exam or predict a pass. We have not published a validated relationship between Finance Prep scores and ASIC results.

Share ASIC Financial Adviser feedback

Tell us which question or explanation needs attention and what makes another answer seem plausible. Include a question reference or short excerpt when available. Your message is private unless you separately permit quotation. For access or billing help, use support .

Feedback about ASIC Financial Adviser Exam in Finance Prep goes privately to our team. Tell us about a question, a coverage gap, or an app improvement. Email is optional. For account or billing help, contact support.