Challenging of Principles of Valuation Courses (POV) BV201-204
The Board of Examiners (BOE) of the American Society of Appraisers (ASA) accepts successful completion of the 8-Hour BV Principlies of Valuation (POV)
Challenge Exam in lieu of successful completion of the four individual POV courses (BV201-204).
Both ASA and the BOE recognize there are many experienced business valuation professionals,
many of whom have already mastered the competencies taught in the
POV courses. The Challenge Exam is geared toward these professionals - those
with more than 4,000 hours (2 years) of full-time business valuation engagement experience
and those who stay abreast of the ever-changing landscape of the
No study materials will be issued to candidates with which to prepare for the exam. It is the
expectation that the students' actual experience, expertise and knowledge
of the materials in his/her own business valuation library
are sufficient to prepare for and pass the exam.
The exam is given in two (2) parts each lasting four (4)
hours and must be taken on the same day. The content covered on the exam comes
directly from the content taught in the four (4) POV courses. You may download
an outline of the content of the four (4) POV courses and/or you may review each course’s learning objectives on the
After purchase of the 8-Hour
BV Challenge Exam, students will need to complete the Exam
Request and Proctor Confirmation Form (which will also be included as a download
after the exam has been purchased). Once a proctor has been selected,
students will need to submit the form to ASA and allow up to
fourteen (14) business days for ASA to contract with your chosen proctor
and ship them the exam materials. Once the proctor has received the exam materials, a
date for the exam may be set. Upon passing the exam, the student will recieve
a certificate of completion noting eight (8) hours of continuing education
The BV 8-Hour Challenge Exam does not qualify for continuing professional education (CPE) credit through
Important Information Prior to Purchase
- All challenge examinations must be proctored. It is the
student's responsibility to secure a proctor. See ASA's “Proctor Requirements”
on the course
policy page for eligibility information.
- The candidate will have four (4) hours to complete
each of the two (2) exam parts. Both parts must be taken on the same day.
- Students have one (1) year from the date of
purchase to complete the 8-hour proctored exam.
- Once a student has arranged for a proctor and
submitted their Exam
Request and Proctor Confirmation Form
, it may take up to fourteen (14) business days to
process. Please plan accordingly.
- In the event a student does not pass the BV 8-Hour
Challenge Exam on their first attempt, they have one (1) year from their
original exam date to purchase and complete a retake exam.
If a student does not successfully pass the BV 8-Hour
Challenge Exam upon their second attempt, they may not retake the exam a
third time. They will need to take the classroom or OnDemand POV courses individually.
Once the exam is purchased, students should logon to their ASA Profile and check the "Downloads"
tab within thirty (30) days to download the Exam
Request and Proctor Confirmation Form.
Questions?Contact ASA's Education Team.