The Financial Adviser Standards and Ethics Authority has released the results from the financial adviser exam held in September, which 1697 financial advisers sat.
The exam was held in eight metropolitan and nine regional centres between 19 September and 23 September.
Overall, 88% of the advisers passed.
"FASEA is pleased with the implementation of the second exam and congratulates successful candidates on completing an important component of their education requirements under the Corporations Act," FASEA chief executive Stephen Glenfield said.
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"Unsuccessful candidates are able to re-sit the exam and these advisers will receive guidance on which knowledge areas they need to improve to enhance their ability to pass at a future sitting."
Registrations for the December exam closed 8 November 2019, with FASEA saying 3200 advisers are enrolled.
Registrations are open for the February exams and 190 advisers have already signed up.
The deadline for all financial advisers to pass the FASEA exam was extended in August to 1 January 2022.
Advisers that have to meet FASEA's qualification requirements have until 1 January 2026.