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The ABV Examination

The 2008 exam will be administered from November 10th through December 13th, 2008. Online registration will be available beginning in July 2008.

Effective as of June 1^st, registrants can take advantage of an early bird discount of $75 ONLY for an ABV Exam fee of $475. The BV School and ABV Exam Review course discounts are no longer effective as of July 4^th. To receive the early bird discount, register online between July 1^st and August 15^th.

NOTE: YOU MUST READ THE REGISTRATION & SCHEDULING TERMS & CONDITIONS PRIOR TO REGISTERING FOR THE EXAM! (See link below.) This document contains vital information relating to scheduling, re-scheduling, the exam deferral policy, and much more.

Subsequent to registering for the exam, candidates will receive a Notification to Schedule (NTS) letter. Upon receipt of this letter, candidates will then have the ability to schedule their exam session through Prometric via the web at ww.prometric.com/abv or by calling 1-800-864-8080.

Once again, to learn more about the registration and scheduling process, please visit ABV Exam Registration & Scheduling Terms & Conditions.

We wish you much success on the completion of your exam and obtaining the ABV Credential.

ABV Exam Registration and Scheduling Terms and Conditions_2008

Three Types of Exam Candidates

Preparing for the Exam

Content Specification Outline

ABV Exam Terminology

Forumulas & Variable Definitions

Calculators

Exam Format

Multiple Choice Questions

Case Study Questions

Three Types of Exam Candidates

1. A candidate that is a new entrant (not certified by any other recognized business valuation credentialing organization) must successfully pass the full day ABV examination (ABV I & II) to meet the ABV credential examination requirement.

2. Individuals possessing certification from the following specified credentialing organizations can satisfy the examination requirements by passing the half-day (ABV I) examination.

· Certified Valuation Analyst (CVA) from the National Association of Certified Valuation Analysts

· Certified Business Appraiser (CBA) from the Institute of Business Appraisers

· Chartered Financial Analyst (CFA) from the CFA Institute (formerly the Association for Investment Management and Research (AIMR))

3. CPAs that hold the Accredited Senior Appraiser (ASA) credential from the American Society of Appraisers in Business Valuation are deemed to have satisfied the examination requirement.

Preparing for the Exam

The key to passing the examination is a combination of broad working experience in business valuation combined with the ability to apply this knowledge in a practical fashion. The exam emphasizes practical application and general business knowledge as opposed to book theory. Accordingly, although it is not a strict requirement, it is our recommendation that candidates choose to sit for the exam only after they have completed the required six (6) business valuation engagements. For additional convenience, the AICPA works in conjunction with state societies to provide ABV Exam Review courses. Click here to find out more about a course that may be offered in your area.

Content Specification Outline

The ABV Examination tests a comprehensive range of business valuation topics. It has been developed through various sources to reflect a broad body of knowledge that business valuation practitioners should possess. There are five major topical areas that provide a framework or “blueprint” for knowledge and skill tested on the ABV examination. The areas include: the engagement, professional and regulatory standards, qualitative and quantitative analysis, valuation analysis and other related topics. The subject matter of the examination is summarized in the ABV Exam Content Specification Outline. To help the ABV candidate prepare for the examination, the outline specifies the scope of the examination and the weight each section will be given.

Calculators

The following is a list of approved calculators that you may bring with you into the examination room. They are:

· Hewlett Packard 12C

· Hewlett Packard 10B

· Hewlett Packard 10b II

· Hewlett Packard 17bII+

· Texas Instruments TI BAII Plus

Exam Format

The ABV Examination is a nondisclosed examination. This means the questions and answers are not published nor are candidates permitted to remove any examination materials from the testing site. Each examination is carefully graded by our team of psychometricians to ensure that the questions are statistically valid. The ABV examination is computerized and consists of two parts, Section I and Section II. The ABV Examination (Section I and II) will provide coverage of the entire BV body of knowledge. Both sections are four hours long and both sections contain two areas of questioning, Multiple-Choice and Case Studies with multiple-choice answers.

Multiple Choice Questions

A multiple choice question consists of a stem that includes factual data, or describes a situation and four options the correct answer and three incorrect choices. The following illustrates a multiple choice question:

The weights used in the Weighted Average Cost of Capital (WACC) should be:

a. Based on book value
b. At the optimal capital structure when valuing a minority interest
c. Based on market values
d. At the current capital structure when valuing a controlling interest

Case Study Questions

Both Sections I & II of the ABV Examination will include a mix of multiple-choice questions, together with a variety of problem solving case studies that vary in length and number of multiple-choice questions associated with each. The fact pattern for each case study will contain sufficient information to enable the candidate to answer each question. This part of the examination is designed to test the candidate's analytical reasoning skills and ability to apply valuation theory and methodology.