Preparation

Practice materials and guidance are available to help you familiarise yourself with the FA Exam format, question types, and test‑taking strategies. These resources are indicative only and do not guarantee exam outcomes.

Preparation materialTest-taking strategy

The online practice questions can be attempted multiple times.

Practice test

An online practice test is available to test takers who have completed their registration for the FA exam.

The practice test can be accessed in the 'Purchases' section of your ACER candidate account.

Once the practice test is completed, the final ‘Test review’ page identifies which multiple-choice questions have been answered correctly or incorrectly. By clicking on the page numbers on the ‘Practice Unit’ bar, specific question(s) can be reviewed.

To reset the questions and remove the responses, click the ‘Restart test’ button in the bottom left of the ‘Test review’ page.

ACER does not provide guidance or feedback regarding practice questions or answers.

Common questions

Is there any additional exam preparation guidance material?

ASIC publishes an official exam preparation guide covering what to expect on test day, how questions are structured, and strategies for working through the material. It's one of the most useful resources available before sitting the exam.

If I pass the practice test, will I pass the actual test?

The practice questions are designed to provide guidance on what you can expect, in terms of question structure and answer formats. They will also provide some guidance to the content of each question in the exam; however, the exam will cover broader knowledge areas. The practice questions do not necessarily reflect the full range of questions or their difficulty.

It is important to understand that success in answering the practice questions does not guarantee or imply success in the actual exam.

How to access the free practice test

ASIC publishes a free practice question guidance PDF that's available to anyone, no registration required. It provides example questions with detailed explanations of how to approach them, making it a great starting point before sitting the exam.

Test-taking strategy

Total test time is 3 hours, with an additional 15 minutes of reading time at the start of your test. You should not answer any questions during this time, as any answers entered during reading time will not be saved. You will need to manage your time for each question and do what works for you.

It is recommended that you work steadily through the test. It is advisable that you do not spend too much time on any one question.

Ensure you read the questions carefully. You will need to use your judgement and select the best answer based on the question asked, especially when you feel there may be more than one correct answer.

If you think you know the answer to a question, answer it, even if you are not certain. Marks are not deducted for incorrect responses. Make a note of the question number and return to it later if you have time.

If you do not answer a question, the question number will not be shaded in the navigation bar at the top of the page. By using the navigation bar, you can easily find and return to the question later if you have time.

ACER acknowledges the Traditional Custodians of Country throughout Australia and their connections to land, sea and community. We pay our respect to elders past and present and extend that respect to all Aboriginal and Torres Strait Islander peoples today.