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Topics
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ABV Exam Information
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2012 Exam Dates:
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Spring 2012 exam window: June 1 - June 30, 2012
Fall 2012 exam window: November 5 – December 8, 2012
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Registration:
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REGISTER NOW!
Registration for the 2012 spring and fall exam windows is now available.
Registration for the Spring 2012 exam window closes on May 25, 2012 and registration for the Fall 2012 exam window closes on October 29, 2012 |
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Exam Registrant Catergories and Costs:
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First time registrants have never registered or taken the ABV exam.
Current FVS Section members $300
Current AICPA members $400
Non-AICPA members $500
Exam Retake registrants have previously taken the ABV exam and did not pass the exam. The re-take fee is $100.
Deferral registrants have previously registered for a ABV exam but did not schedule or take the exam in the year in which they registered. Deferral candidates must pay a $100 fee to take the exam.
Volume Pricing: A special price of $200 per exam is available when registering two or more candidates from the same firm for either ABV exam window. For further details and to submit request to obtain this discount, an email must be sent to abv@aicpa.org.
2012 BV School/ABV Exam Review/ABV Exam Bundle: When you register for one of the 2012 Business Valuation Schools and purchase the self-study Exam Review course at the same time, you’ll receive a 10% discount on the self-study course as well as a coupon for 50% off the ABV Exam registration fee. Coupon will be given out onsite at the BV School, and it can be applied to Fall 2012, Spring 2013 or Fall 2013 ABV Exam registration.
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Registration & Scheduling Process:
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Registration for the ABV Examination is available on a year-round basis. You must read the REGISTRATION & SCHEDULING TERMS AND CONDITIONS prior to registering for the exam. This document contains vital information related to scheduling, re-scheduling, exam deferral, and much more. Exam candidates should also refer to the ABV Exam Scheduling Process to seek guidance surrounding the steps involved with scheduling an exam at a Kryterion HOST (High-Stakes Online Secured Testing) facility.
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Test Center Locations:
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At this time, the ABV exam is offered in the United States and Canada. There are almost 300 locations nationwide. Find the closest one. |
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Test Center Regulations:
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Be prepared. Know what to expect. Download a PDF of the regulations.
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List of approved calculators:
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The following are the calculators that approved to be admitted into the examination room:
Hewlett Packard 12C , Hewlett Packard 10B, Hewlett Packard 10b II, Hewlett Packard 17bII+, and the Texas Instruments TI BAII Plus
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Exam Format:
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The ABV Examination is a non-disclosed 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 Exam is a computer-based examination that lasts a total of 6 hours and 45 minutes in length, including a 45-minute break. Please note that there is not a particular point in the exam where this break is required but candidates are allowed to take up to 45 minutes for a break at one point or during multiple points of the exam. The ABV examination contains two areas of questioning: discrete multiple-choice questions and case studies with accompanying multiple-choice questions. There are a total of 180 questions, 155 of which are discrete multiple choice and 25 of which are case study related multiple choice questions. During the examination, candidates will be able access to the International Glossary of Business Valuation Terms as well as Formulas & Variable Definitions via computer. These items are included as displays that can be accessed in the same manner as the information provided for the case studies.
If you’d like to view a demonstration of a mock exam session, then watch our AICPA Specialty Exam Online Tutorial.
NOTE: The questions and exhibits utilized in this mock exam session are merely for demonstrative purposes only and do not reflect actual exam content.
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Multiple Choice Questions:
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A discrete multiple choice question consists of a stem that includes factual data and provides four answer options. See example below:
The weights used in the Weighted Average Cost of Capital (WACC) should be:
- Based on book value
- At the optimal capital structure when valuing a minority interest
- Based on market values
- At the current capital structure when valuing a controlling interest
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| Case Study Questions: |
The case studies vary in length and the number of multiple-choice questions associated with each one. 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.
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Content Specification Outline (CSO):
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The CSO has been developed through various sources to provide an overview of the knowledge that business valuation practitioners should possess. It is the comprehensive body of knowledge that will be tested on the ABV Exam. There are now three major topical areas that provide a framework, or “blueprint”, for knowledge and skill tested on the ABV examination. Two of the previous areas (Defining the Engagement and Professional and Regulatory Standards) are now included in the Related Topics portion of the CSO. The three major areas include:
- Qualitative and Quantitative analysis (25 to 30% of the exam content)
- Valuation Analysis (50 to 60% of the exam content)
- Related Topics (15 to 20% of the exam content)
Download the CSO
It is important to note that candidates will most likely be better-prepared for the exam if they use the resources contained within the CSO and not just rely upon their individual experience. Please take this into consideration when preparing for the ABV Exam. Go to ABV Exam Content Specification Outline References to see those references provided by the AICPA.
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Exam Candidate Preparation (ABV Pathway):
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The key to passing the examination is a combination of utilizing the body of knowledge referenced in the CSO coupled with applying this body of knowledge by obtaining relevant work experience in business valuation. 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 or 150 hours of business valuation related work.
To assist in exam preparation, the AICPA offers the ABV Assessment Tool as a preliminary means to identify candidates' strengths and weaknesses of their familiarity with the BV body of knowledge. The AICPA also offers their nationally recognized BV School and the self-study version of the ABV Exam Review Course as additional means of preparation.
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ABV Exam Item Development
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Interested in serving as an exam writer that contributes to question development? Learn more about the responsibilities of being an exam writer as well as the style guidelines exam writers must adhere to when developing exam questions. Also, if you are interested and have additional questions, please feel free to contact Morris Harris at mharris@aicpa.org.
ABV Exam Item Development Overview
ABV Exam Item Writing Style Guidelines |