The American Society of Appraisers (ASA), an international organization devoted to the appraisal profession, announced the re-launch of its Business Valuation Challenge Exam (Challenge Exam) for accreditation this month.
One of the requirements for advancement to Accredited Member (AM) and Accredited Senior Appraiser (ASA) is completion of four 27-hour Principles of Valuation (POV) courses, which include a three-hour exam at the conclusion of each. The Business Valuation Committee and the Board of Examiners of ASA recognize that there are many experienced business valuation professionals that already have mastered the competencies taught in the POV courses.
The Challenge Exam is geared toward those professionals who have more than 10,000 hours (5 years) of business valuation engagement experience and who stay abreast of the ever-changing landscape of the profession. The Challenge Exam is intended to test a wealth of knowledge based on the topics covered in the POV courses. The POV courses are:
- BV201: Introduction to Business Valuation & the Market Approach;
- BV202: The Income Approach;
- BV203: The Asset Approach, Reconciliation of Values, Valuation Discounts and Premiums, Report Writing; and
- BV204: Advanced Topics-Pass Through Entities, Intangible Assets, Complex Capital Structures, Debt and Preferred Stock.
With 260 total questions, the exam is administered in two 4-hour modules to be taken on the same day. The Challenge Exam is for those who already have mastered the competencies taught in the POV courses and for those who would satisfy all other requirements for advancement to AM or ASA, but who have not yet completed the coursework.
For more information on the Challenge Exam or to register, visit the ASA’s website.