National Course Policies and Procedures

The option to challenge a course is available for Business Valuation (BV) and Machinery and Technical Specialties (ME/ MTS) courses. Additionally, you must be a “Candidate” in ASA.

The price for challenging a course is $1195 and includes all the course materials. To "challenge" or test out of an MTS or BV course means that you studied the course materials on your own (without attending the course) and that you passed the course examination. Once you successfully challenge a course, you will be eligible to enroll or challenge the next course in the POV series.

Students have one (1) year from the date of their registration to review the materials and complete the proctored exam. All challenge examinations must be proctored. See “Proctor Requirements” below for eligibility information. Courses may ONLY be challenged in sequential order. Retake/challenge applications and Proctor/ Exam requests may take up to ten (10) business days to process so please plan accordingly.

To set up an MTS Course Challenge or Retake Exam please complete and submit the Retake / Challenge Application.

To sign up for a BV Course Challenge online, use the links below.

• BV201
• BV202
• BV203
• BV204
• BV301
• BV302

8 Hour BV POV Curriculum Challenge Exam

ASA now accepts successful completion of the BV 8 Hour Curriculum Challenge Exam in lieu of successful completion of the four BV POV courses. This Challenge Exam is geared toward experienced business valuation professionals that already have mastered the competencies taught in the POV courses. More Details

Please do not purchase nonrefundable airline tickets until you receive your official course confirmation from ASA.

ASA agrees to make a good-faith effort to ensure that its course sites comply with the requirements of the Americans with Disabilities Act and its regulations and guidelines. If you need special assistance at one of our course sites, please contact ASA's Education Department at least two weeks in advance of the course to allow us enough time to make any necessary arrangements. Your request will be held in confidence.

Class attendance is an essential part of the educational process. To successfully complete and receive course credit, you are expected to attend the educational event (on time) for which you are registered, and to remain in class for its complete duration.

Course absences are noted by Instructors via an attendance sheet.

Attendance for webinars and/or other internet-based courses is monitored through your login and your documentable participation (Interacting with the instructor, other enrolled students, and/or submitting course assignments).

You are expected to use a calculator in class. Real Property courses require a six-function calculator (HP12C recommended). Machinery and Equipment courses require a calculator capable of doing exponential calculations. Business Valuation courses require a financial calculator able to perform annuity, compound interest and present value calculations.

Classroom Courses (taught in-person/ face-to-face):

• There is no charge for cancellations received more than 30 calendar days before the first day of a course.
• Cancellations within 30 days will be charged a $100 cancellation fee.
• If ASA is not notified in advance of the start date of the course, you will be considered a "NO SHOW" and will not be eligible for a refund.
• Once course materials have been provided, the course is no longer refundable.

eLearning (webinars, OnDemand, audio recording self study):

• Webinar registration is non-refundable.
• OnDemand courses are non-refundable once the course materials have been made available and the online course has been accessed.
• Audio Course Recordings are non-refundable once the course materials have been made available.
• If you are unable to attend the LIVE offering of a webinar, you may request further information on how you can access and view a recording of the webinar. If a recording is unavailable (due to an unforeseen technical issue or the presenter not permitting the webinar to be recorded) a refund will be authorized.
• In the event ASA must cancel a webinar (due to unforeseen circumstances) you will be notified and provided a full refund.

Upon successful completion (i.e. a passing score) of a course, you will receive an electronic Certificate of Completion. Sample Certificate of Completion

Most classes are limited in size. Enrollees are registered on a first-come, first-served basis. If the number of registrants for a class reaches the limit, additional registrants will be placed on a wait list. Courses may be cancelled at the discretion of ASA. 

The onsite course administrator will do their best to ensure that you enjoy ample lighting, space, ventilation and freedom from distractions. Prohibited activities include smoking, tape recording and using cellular telephones or personal pagers. Classroom use of laptop computers is at the instructor's discretion. Voice amplification for instructors is provided when necessary. Meals and refreshment breaks are provided; stretch breaks are encouraged.

NEW! ASA now offers "hybrid" courses. This blended format provides virtual attendees the opportunity to share the same educational experience with in-person classroom students. The virtual classroom is a little different than attending in-person, and this short video demonstrates how this alternative format works. We encourage you to explore this new opportunity.

If you have any issues with a course please send an email to education@appraisers.org in order to generate a ticket. Your concerns will be examined by your Discipline Education Chair and the specific course lead. After a full review of the complaint, you will be notified of the result.

ASA is approved as a course provider on the National Registry of CPE Sponsors. All courses for which CPE credit is available are properly noted. 

Courses are updated within various disciplines at regular intervals and as regulations and laws change.

Dress is business casual.

Substitutions are permissible if ASA has been notified prior to the first day of class. It is your responsibility to transfer to the substitute registrant all course-related information, materials, schedules and pre-class assignments. Any prerequisite education and experience is applicable to the substitute registrant.

ASA course exams are multiple choice exams that contain 100 questions. You must answer a minimum of 75/100 questions correctly to pass an exam. If you do not pass an exam, you are allowed to retake an exam once within one calendar year of the original exam date. If a passing grade is still not received, you will need to retake the course.

The only authorized examination period at an ASA course site is on the scheduled exam day for that particular offering. A passing score is 75% and above. Grades are provided as “Pass/Fail” only and the course examinations are not returned to students after grading. The Discipline Education Chairs serving on ASA’s International Education Committee (IEC) are the only individuals to whom student grades are released for review. ASA does not provide instructors with grades or pass rates. All “Pass/Fail” notifications are e-mailed to students within two weeks of the conclusion of the course or after the Discipline Education Chair has released the grades. Exam results are not provided by telephone. If you owe any course-related fees to ASA or you have not met the course prerequisites, you will have your results withheld until such accounts/prerequisites are settled in full. All requests for further exam information and/or guidance will be referred to the appropriate Discipline Education Chair.

Each ASA discipline works independently to vet and choose instructors for ASA (national) courses. If you are interested in teaching, please contact your discipline’s Education Chair for more information.

At the instructors' request (and to allow you to concentrate on your learning objectives) ASA does not provide for wireless internet in the classrooms. Wireless internet is available in your sleeping room and often in the "common" or lobby areas of many of the course venues.

You are responsible for making your own lodging reservations and for costs associated with your lodging, meals and transportation. At most locations, special group lodging rates have been negotiated and a reserved block of rooms will be held for up to 21 days before the course start date. At the three-week point, hotels usually release the room block for sale to the general public. Hotel reservations generally may be cancelled without penalty up to 48 hours before your arrival date but check with each course site hotel as to their cancellation policy.

Most courses require preparation prior to arrival at the course site and the first class meeting. Pre-reading assignments (if any) will be emailed to you upon registration. 

Individuals / locations qualified to proctor an ASA exam include:

• A designated ASA member
• Unrelated to the examinee
• Who does not work for the same organization as the examinee
• An official testing center
• A university – library or testing center
• A public library
• ASA national course site (must be prearranged)

Proctors are required to be present with the examinee throughout the exam.

ASA course instructors are experienced members of ASA who are and have earned an ASA designation. Courses are developed by industry experts who have hands on experience in the areas they instruct.

Records for all students who attended and successfully complete ASA (national) courses are retained electronically in ASA’s database for five years. The retained records include: proof of participation, date and location of course, instructor information; number of CE/CPE hours earned; and course evaluation feedback.

If you do not pass a course examination, or have an "incomplete" status for a course, you have one year from the conclusion of the course to retake the relevant examination. Please see "Proctor Requirements" above for information on obtaining a proctor for a retake exam.

To request a Retake Exam please complete and submit the Retake / Challenge Application.

ASA courses usually run from 8:00 a.m. to 5:30 p.m. on regular classroom days and from 8:00 a.m.to noon on exam days. Please see the individual course descriptions for information on which days are scheduled for classroom lecture and which are designated as exam administration days.

Your classroom will be secured during the lunch break; however, please be aware that the venue staff will enter the room from the "back of the house" to bus tables, etc. If you have any personal valuables, you should make arrangements to store them during the time you'll be out of the room. When rooms are locked for lunch, they will not be unlocked until after lunch is over.  At the end of the day, please take all your belongings, table tents, name badges, etc. with you. The venues frequently use the rooms in the evening for other events. ASA is not responsible for lost or stolen items.

Required textbooks and their prices are listed on the ASA website. Most textbooks can be ordered from ASA during the course registration process. Textbooks which are not available through ASA are generally available through online and retail bookstores.

Tuition rates and fees are listed with the course descriptions.

ASA reserves the right to limit enrollments, cancel courses, change faculty assignments or reschedule individual courses/groups of courses. Should changes or cancellations occur, registered students will be notified immediately.