Course Exemptions

To be granted an exemption an individual must be first a Registered Student in the CICBV Program of Studies.



Individuals who have passed the Level I, Level II and Level III exams of the Chartered Financial Analyst Program are exempt from the requirement to complete two elective courses.


                    McGill sig_red_cmyk_CONT STUD_vert_bil_out

Upon successful completion of the McGill courses noted below, students of McGill University’s School of Continuing Studies are eligible for exemption from the courses that form the Canadian Institute of Chartered Business Valuators’ Program of Studies.  Such exemptions may be granted on a course-by-course basis upon their completion, or when McGill students have completed all six McGill courses and are applying to write the CICBV’s Membership Qualification Exam.

The McGill courses which are eligible for exemption, and the equivalent CICBV courses, are as follows:


McGill  Course – completed McGill – Courses Code CICBV Courses  – exempt
Introductory Business Valuation  CBUS 230 Level  1 – Introductory Business Valuation
Intermediate Business Valuation CBUS 231 Level  2 – Intermediate Business Valuation
Advance Business Valuation CBUS 232 Level  3 – Advanced Business Valuation
Special Topics in Business Valuation  CBUS 233 Level  4 – Special Topics in Business Valuation
Litigation Support in Business Valuation CBUS 234 Litigation Support in Business Valuation
Private Company Finance  CBUS 235 Corporate Finance
Introduction to Valuation for Financial Reporting CBUS 236 Valuation For Financial Reporting 







Students in the Master of Accounting program at University of Waterloo School of Accounting and Finance who have successfully completed the ACC 606 – Business Valuations course can write the Level II Intermediate Business Valuation exam at a lower fee and in passing it, are exempt from Level I – Introductory Business Valuation.



Students in the Strategic Business Valuation (SBV) specialization who successfully complete V700 (Strategic Business Valuation) and V704 (Advanced Strategic Business Valuation) may challenge CICBV exams for Levels I (Introductory Business Valuation) and II (Intermediate Business Valuation). If such students are successful, they will be exempt from Levels I and II. Students must successfully challenge these exams before the end of the third calendar year after completing V700 and V704



Individuals who have passed IIBV 101 – Introduction to Business Valuations and IIBV 102 – International Cost of Capital are exempt from Level I – Introductory Business Valuation.

Individuals who have passed IIBV 101 – Introduction to Business Valuations, IIBV 102 – International Cost of Capital and IIBV 103 – Business Valuation Comprehensive Case Study are exempt from Level I – Introductory Business Valuation and Level II – Intermediate Business Valuation.


ASA-BV designation holders are exempt from:

  • Level I – Introductory Business Valuation;
  • Level II – Intermediate Business Valuation; and
  • Level III – Advanced Business Valuation.

Contact the CICBV, Isabel Natale ( for details on how to apply for these exemptions.