2022-2023 7 Hour USPAP for Business Valuation (BV)

Important Note:

As an official Appraisal Foundation sponsor, ASA will no longer be authorized to provide education credit or a USPAP certificate once the 2022-2023 USPAP expires on January 1, 2024. Extensions, exceptions, credit or refunds will not be accepted, so we encourage you to complete the course as soon as possible to avoid any issues. Registrants must complete this course no later than December 30, 2023 in order to be eligible for CE credit and to obtain a certificate of completion. 

General Information

This OnDemand course provides students with convenient online access to pre-recorded lecture modules and downloadable course materials. Students receive access to course instructions and materials immediately following registration via email.

This course consists of modules and various module quiz assessments that students must complete in sequential order. Only after successful review and completion of each module and quiz are students able to proceed to the next module in the sequence. Students may repeat and review of each module and quiz assessment an unlimited number of times. A certificate of completion is provided only upon successful completion of all the course modules and quiz assessments within one week. The course should be completed within 90 days of purchase. Currently, there is no final exam associated with this course.

*Note before registering: PP/GJ/MTS appraisers must take the PP USPAP courses (not this course). BV appraisers and ARM appraisers may take any USPAP course; however, it would certainly be more beneficial for a BV appraiser to take this BV geared USPAP course.

Registration Includes

• 24-7, on-demand access to class modules.
• Most recent USPAP eBook (secured electronic version); and
• Downloadable Student Handout Materials (course instructions and a PDF of the individual module PowerPoints

These required texts are PDF Download Only items made available to students immediately following registration. By registering for this course you agree to a one-time download only and not to share the electronic documents with anyone else. The print version of the most recent USPAP Book is currently available for purchase directly from the Appraisal Foundation.

This course consists of:

• Narrated instructional modules;
• Downloadable course handout materials (PDF);
• Class assignments and exercises; and
• Practice tests.

Printed or hard copies are not provided to ASA OnDemand course registrants. Once the course OnDemand course and downloadable materials have been accessed, the course is no longer refundable.

The course must be completed within 90 days of purchase. The option to request an additional 90 day extension at education@appraisers.org is available (non-refundable fee is applicable). At any point throughout the duration of this OnDemand course, the student has the option to go back and log in to repeat and/or review any of the modules and/or practice tests. 

Learning Outcomes

Identify the structure, purpose, and flow of USPAP and recognize the relationship between USPAP and the appraisal process. (USPAP Intro and Preamble)
Identify key terms defined in USPAP and recognize how these terms are key to understanding USPAP concepts and principles. (Definitions)
Recognize the intent of the five Rules and how they set the environment for application of the Standards. (The Rules Part I and II)
Apply Standards 9 and 10 for business and intangible asset appraisal. (Standard 9 and 10)
Apply Standards 3 and 4 for appraisal review in the context of business valuation. (Standard 3 and 4)
Identify the major differences between Standards 9 and 10 and the other Standards. (Standards and Advisory Opinions)
Identify specific Advisory Opinions and how they relate to business and intangible asset appraisal. (Standards and Advisory Opinions)
Describe the changes made to the 2016-2017 and 2018-2019 Editions of USPAP and how they affect business valuation. (Changes in USPAP)

Course Information

USPAP stands for "The Uniform Standards of Professional Appraisal Practice" and is published by The Appraisal Foundation (TAF) headquartered in Washington, DC. In 1989, Congress enacted the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA), which authorized TAF as "THE" source of appraisal standards and appraiser qualifications. "USPAP is the generally recognized ethical and performance standards for the appraisal profession in the United States" and was adopted by Congress in 1989.  USPAP contains standards for all types of appraisal services, including real estate, personal property, business and mass appraisal. USPAP is updated every two years providing appraisers with the information they need to deliver unbiased and thoughtful opinions of value.

What is the 7-Hour USPAP Update Course for Business Valuation?
This 7-hour USPAP Update course is designed for business valuation professionals who have completed the 15-hour USPAP course and only require updated information. This course focuses primarily on recent changes in the current edition of USPAP that relate specifically to business valuation.  

Continuing Education and Contact Hours

7 ASA CE Instructional Hours | CPE hours are not awarded for this offering.

Important Note: This course does not meet the Appraisal Foundation’s USPAP continuing education requirements for Real Property appraisers. This course will not be accepted by state real property licensing boards or for CE credit for state licensing of real property appraisers. This course may be used to meet qualifying USPAP requirements for beginning Real Property students who are seeking state certification, however, it is the responsibility of the student to verify acceptance of this course with his/her state prior to registering.