BV 8-Hour POV Curriculum Challenge Exam

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 profession.

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 following pages:

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 (CE).


The BV 8-Hour Challenge Exam does not qualify for continuing professional education (CPE) credit through NASBA.

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.


Contact ASA's Education Team.

Pricing $2,500.00
ASA-Member $2,000.00
Non-Member $2,500.00
Available Yes

Purchasing BV 8-Hour POV Curriculum Challenge Exam includes the following items below:
BV201 Challenge Exam BV201 - Individual Challenge Exam 1
BV202 Challenge Exam BV202 - Individual Challenge Exam 1
BV203 Challenge Exam BV203 - Individual Challenge Exam 1
BV204 Challenge Exam BV204 Individual Challenge Exam 1