PDF Version DemoIFPUG ABV Exam Overview:
| Certification Vendor: | AICPA |
|---|---|
| Exam Name: | ABV Examination |
| Exam Number: | ABV |
| Certificate Validity Period: | 3 years (requires continuing professional development for renewal) |
| Exam Format: | Case study-based questions, Multiple-choice questions, Two separate modules |
| Exam Duration: | 390 (6 hours 30 minutes total, 195 minutes per module) |
| Real Exam Qty: | 180 (90 per module) |
| Exam Price: | $175–$275 per module (varies by AICPA membership status) |
| Related Certifications: | CBV ASA CFA |
| Available Languages: | English |
| Passing Score: | Pass/Fail (no numerical score disclosed; scaled passing standard) |
| Recommended Training: | AICPA ABV Exam Prep & Learning Resources |
| Exam Registration: | AICPA ABV Certification & Exam Registration |
| Sample Questions: | IFPUG ABV Sample Questions |
| Exam Way: | Computer-based testing (online proctored or onsite at Prometric test centers) |
| Pre Condition: | Valid CPA license OR 4,500 hours of business valuation experience (non-CPA); 75 hours of valuation-related CPD within 5 years; exam waiver available for ASA, CFA Level III, or CBV holders |
| Official Syllabus URL: | https://www.aicpa.org/cpe-learning/abv-certification.html |
IFPUG ABV Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Valuation Approaches and Methods | 30–35% | - Income approach
|
| Valuation Applications and Reporting | 15–20% | - Valuation report preparation and content - Business ownership transactions - Valuation for financial reporting - Litigation and dispute support |
| Valuation Adjustments and Special Topics | 15–20% | - Tax considerations - Valuation of debt and equity securities - Valuation of intangible assets - Discounts and premiums |
| Professional Responsibilities and Valuation Standards | 15–20% | - Professional ethics and conduct - Valuation standards and guidelines - Legal and regulatory considerations |
| Quantitative Analysis and Financial Statement Analysis | 20–25% | - Industry and economic analysis - Financial statement adjustment and analysis - Risk and return analysis - Statistical and quantitative methods |
IFPUG Accredited in Business Valuation (ABV) Sample Questions:
Question #1
The Build-Up model divides the risk premium into its subcomponents and estimates the cost of capital as the sum of the following:
1.A risk-free
2.A risk premium, including one or all of following subcomponents EXCEPT:
A. An equity risk premium
B. A company-specific risk premium
C. Investment-specific risk
D. A size premium
Question #2
Which model simply estimates a time horizon at which the interest will be liquidated, a liquidating price based on annual percentage growth in value from the valuation date, and interim cash flows to the holder?
A. Qualitative Marketability Discount Model
B. Quantitative Liquidity Discount Model
C. Quantitative Marketability Discount Model
D. Qualitative Liquidity Discount Model
Question #3
Many cost items fall into a "_________", in which the decision to expense or to capitalize the expenditures is subjective. One such decision is the dividing line between maintenance expenditures, which are expenses and capital improvements,
which are capitalized.
A. White and gray area
B. Red area
C. White area
D. Gary area
Question #4
It is highly unlikely, in formula approaches for setting the price in a buy-sell agreement, that the price established by a formula at the time of signing will be even close to the value of the interest at the time of triggering event, which could be many years later. For these reason analysts:
A. Do not allow flexibility in approach
B. Allow flexibility in approach
C. Highly encourage the use of formulas in high-sell agreements
D. Highly discourage the use of formulas in high-sell agreements
Question #5
Which approach
provides a systematic framework for
estimating the
value of an intangible asset based on an analysis of actual sale and/or license transactions of intangibles that are comparable to the object?
A. Sales approach
B. Income approach
C. Administrative approach
D. Market approach
Solutions:
| Question #1 Answer: C | Question #2 Answer: C | Question #3 Answer: D | Question #4 Answer: D | Question #5 Answer: D |
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