Document ID: chunk:federal_register_of_legislation:F2024C00618:front:0:p4
Version: federal_register_of_legislation:F2024C00618
Segment Type: other
Provision Reference: 
Character Range: 8408–10962

must contain only multiple-choice type questions.

2‑45  Principle 3: duration of exams
 (1) This section specifies a principle relating to the duration of an exam.
 (2) A person taking an exam must have 3.5 hours to complete the exam, of which at least 15 minutes must be set aside as reading time.

2‑50  Principle 4: marking or scoring of exams
 (1) This section specifies a principle relating to the marking or scoring of an exam.
 (2) An exam must show the maximum marks that may be awarded for each question.
 (3) The questions in an exam, and the maximum marks that may be awarded for each question, must be approved by persons with appropriate expertise, as determined by ASIC.

2‑55  Principle 5: processes and procedures for the taking of exams
 (1) This section specifies principles relating to processes and procedures relating to the taking of exams.

Who may sit an exam?
 (2) A person may only take an exam if:
 (b) the person has applied to ASIC to take the exam (in the manner and form approved by ASIC), and has been subsequently enrolled by ASIC to take the exam at a particular date and time; and
 (c) the person has paid ASIC the prescribed fee to take the exam; and
 (d) the person has not been excluded from taking the exam under subsection (9).
Note: The amount of the fee is prescribed in the Corporations (Fees) Regulations 2001.

Methods for taking an exam
 (3) An exam must be taken by one the following methods, as determined by ASIC for a person:
 (a) by attending a location at which an exam is to be held (an exam location);
 (b) by way of the internet or other technology that allows the person to take the exam without being physically present at an exam location;
 (c) by way of alternate arrangements in accordance with subsection (13).
 (4) A person is not to be admitted to an exam location for an exam unless the person:
 (a) meets the requirements of subsection (2), and has been advised by ASIC that the person is registered to attend the location to take the exam; or
 (b) is staff member or agent of ASIC; or
 (c) is present because of alternate arrangements made by ASIC under subsection (13).
 (5) ASIC may impose identification requirements for persons to be admitted to an exam location.
Note: For example, requirements for photo ID may be imposed.
 (6) A person may only take an exam using the equipment and materials permitted by ASIC to be used, and ASIC may impose reasonable and appropriate restrictions on the person to ensure only permitted equipment and materials are used.

Conduct of the exam
 (7)