Financial advisers currently sitting their professional exams now have a greater chance of passing because of the new exam format. The pass rate for the Certificate for Financial Advisers (CeFA) has greatly improved since the introduction of the 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 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, said: "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."
