Membership Entrance Exam
The Membership Entrance Examination (MEE) is the final step in the process of becoming a CICBV Member and obtaining the CBV/EEE designation.
Note that concurrent writing of course examinations and the Membership Entrance Examination (MEE) is not permitted.
The MEE tests student competence and understanding of all aspects of business valuation. The exam, administered once a year (usually mid-late September, see below for 2010 date) is four hours long and consists of multi-subject questions and one comprehensive case study. A passing mark for the MEE is 60% of the total marks.
An appeal process is in place for candidates who wish to challenge the results obtained in the Membership Entrance Examination (MEE).
Areas of Technical Knowledge Tested
The seven general areas of technical knowledge on which students (including those granted course exemptions) are tested are:
1. Value Terms and Principles
2. Business Valuation Methods
3. The Business Valuation Assignment
4. Professional Conduct
5. Specific Issues Encountered in Business Valuations
6. The Law Relevant to Business Valuation
7. Taxation Issues Relevant to Business Valuation
Requirements for MEE Applicants
1. Must successfully complete the Institute’s Programme of Studies.
2. Must have a minimum of 1,500 hours of suitable practical experience. Obtained by the combination of the following:
A) A minimum of 750 hours of work in business valuation, litigation support and corporate finance where a conclusion of value or damages is reached or rendered (which we consider to be core valuation experience). This includes:
(i) Activities which are involved in the provision of value conclusions;
(ii) Activities in connection with financial litigation support and the quantification of economic damages;
(iii) Activities in an investment capacity including, but not limited to, underwriting and preparation of analysts' reports and studies and investment analysis;
(iv) Acting as a business broker to the extent that it involves activities such as pricing, negotiating, and reviewing bids and proposals;
(v) Significant responsibility for mergers and acquisitions, and divestitures to the extent that time is spent in the process of pricing or negotiation;
(vi) Significant responsibility for corporate finance advisory activities, to the extent that time is spent in the process of pricing, negotiation or structuring.
B) A maximum of 750 hours of related activities consistent with business valuation i.e. due diligence, transfer pricing, litigation, where the activities do not lead to the expression of value or damages conclusions or involve the application of business valuation principles (which we consider to be Non-Core Valuation Experience). This includes:
(i) Due diligence;
(ii) Transfer pricing for intangible assets;
(iii) Forensic accounting;
(iv) Post-acquisition integration;
(v) Teaching and research in the field of business and security valuation.
The required practical experience should be attained within five years of applying to write the Membership Entrance Examination and should be attested by a sponsor. Please see Business Valuation Experience requirement Policy and Sponsorship Policy.
3. Must have a degree from a post-secondary academic institution or university in Canada or another country. The requirement for a degree from a post-secondary academic institution or university will be waived for an individual who holds a Canadian designation of Certified Management Accountant (CMA), Chartered Financial Analyst (CFA), Certified General Accountant (CGA) or Chartered Accountant (CA). Please see Education Requirement Policy.
4. A letter from a Member of the CICBV that sponsors and confirms the applicant's character, experience and the CICBV's requirements related thereto.
Date and Documentation - 2010 MEE
On Monday, September 20, 2010, from 1:00pm - 5:00pm, The Canadian Institute of Chartered Business Valuators will be holding its Membership Entrance Examination (“MEE”) at numerous centres within and outside Canada.
Interested applicants who believe that they have now met the qualifications for membership, including the required academic and practical experience, or will have done so by September 1, 2010, can now apply to write the 2010 MEE. This group includes those CICBV students who wrote their last course exams in March 2010.
The documents required for application to the 2010 MEE exam are as follows:
The deadline date for submission of the MEE Application Package is May 5, 2010. Applications received after May 1, 2010, from BC & ON residents will be subject to HST.
If you have any questions regarding the MEE application process, please contact Deborah Pelle at 416-977-1117 ext. 222.
Future Membership Entrance Examination Dates
September 20, 2010
September 19, 2011
September 10, 2012
September 16, 2013
Appeal Process - Policy
1. Appeals will be accepted ONLY in relation to a request for review of a FAILING GRADE.
2. Appeals will be dealt with by the Accreditation Committee
3. Appeals must be made in writing and sent with appropriate fees to the Intitute no later than the closing date for all exam appeals. This date will be indicated in the letter issued to the candidate regarding his/her failling grade.
4. The Examination Paper or Solutions will not be made available.
5. THE APPEAL PROCESS
Fee: $350.00
The Appeal will:
a. ensure that all written books submitted by the candidate were received for marking;
b. ensure that all questions were marked;
c. re-mark and confirm the marks awarded and the final tally;
d. give broad indicators of where marks were lost.
6. Candidate will be advised if they passed or failed.
7. The fee for Appeals is to be paid by cheque payable to The Canadian Institute of Chartered Business Valuators. The full fee will be refunded if a pass is awarded after the Appeal.
8. The decisions of the Appeals Review are final.