15-Hour USPAP for Business Valuation

Note before registering: This course is geared towards Business Valuation (BV) appraisers only. 

General Information

This course provides students with convenient, self-paced online modules and knowledge checks available immediately after registration. Please note, the 2026-2027 USPAP cycle does not include a new USPAP edition. Students should reference the version utilized during the 2024 15-Hour or 2024-2025 7-Hour USPAP Update Course. If you do not have access to this edition, you must purchase a copy directly from the Appraisal Foundation here.

It is recommended that students finish the course and final exam within 90 days of purchase to prevent access issues. Students may request an additional 90-day extension for the course by contacting education@appraisers.org. However, please note that this extension incurs a non-refundable fee. 

Registration Includes

• 24-7 online access to course modules and quizzes
• Promo Codes for USPAP Materials will be provided within (3) business days in a separate email notification* 
  • Review USPAP Materials Access tab for more details

This course is non-refundable. Review the FAQs to ensure it’s the right course for you. If you’re still unsure, contact Member Services at asainfo@appraisers.org. By registering, you agree not to share any electronic course materials with third parties. *Note: You may experience a delay in receiving your promo code(s) during holidays.

Note before registering: This course is geared towards Business Valuation (BV) appraisers only, and does not meet requirements for new applicants who are required to take the 15-Hour BV USPAP Course. PP/GJ/MTS appraisers must take the Personal Property USPAP course(s).This course does not meet the Appraisal Foundation’s USPAP continuing education requirements for Real Property appraisers, and 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. Refer to the USPAP FAQ's for additional information.

Final Exam

Successful completion of the (1) hour USPAP exam is required after reviewing all of the online modules. It is the student's responsibility to allow enough time to secure a virtual seat at one of ASA's Online Exam Sessions or other options provided by the education staff. The final exam is multiple choice and securely administered online and remotely proctored. A certificate of completion will be issued within 5-7 business days, upon successful fulfillment of the examination requirement. Detailed guidance for the final exam will be available once all course modules are completed.

Continuing Education (CE) Information

14 ASA Continuing Education (CE) Credit Hours + 1 Exam Hour

This course does not provide CPE (NASBA's Continuing Professional Education) credit

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 15-Hour USPAP Course for Business Valuation? The 15-Hour USPAP Course for Business Valuation will familiarize users of USPAP Standards 9 and 10 with recent, significant revisions to USPAP that impact every practicing appraiser in the business valuation arena. In addition, the course confronts some of the regularly misunderstood concepts in USPAP and reviews their application through the use of other communications published by the Appraisal Standards Board. This course will meet current USPAP continuing education requirements established by the Appraisal Foundation for BV appraisers. 

Learning Outcomes

• Prepare appraisals in full compliance with the current Uniform Standards of Professional Appraisal Practice; 
• Utilize the new definitions in USPAP in appraisal preparation; 
• Recognize how the changes in USPAP will affect appraisal reporting; and  
• Identify many of the current problems faced by business valuation appraisers and how to use USPAP to solve and/or better handle them.

Learning Level

Fundamental

Course Audience

Individuals who must complete their USPAP requirement for the first time, or have not taken the update course within the required 5-years and must get back into compliance.

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.

USPAP Materials

The Appraisal Foundation has revised its policy regarding the distribution of USPAP course materials. Course participants will now receive promo codes to obtain the required materials at no cost directly from The Appraisal Foundation's online store. 

Within (3) business days of registration, ASA's education staff will send a separate email containing the necessary promo codes. Cancellations, refunds, or course transfers will no longer be permitted once the codes have been issued. *Note: You may experience a delay in receiving your promo code(s) during holidays.

Important: Promo codes are valid for electronic versions of the materials only. The Appraisal Foundation does not issue codes for printed copies.

For detailed instructions on how to redeem your promo code(s), please click on "How to Redeem Your Licensed Product" below.

Exam Policies 

Note these policies are specific for the Business Valuation USPAP exam only.

1. If you're unable to attend an upcoming scheduled exam proctoring session, please email education@appraisers.org to make alternate exam arrangements. You must take the course exam within 90 days following registration and completion of the course.
2. Scoring 72% on the exam is required to pass. 
3. Results are given as pass/fail only. We cannot provide a copy of your graded exam or advise which questions you answered correctly or incorrectly.
4. If you do not pass the USPAP exam, an ASA education staff member will contact you about your next steps within 5-7 business days via email notification.
5. You will have two additional opportunities to retake the exam if you do not successfully pass the first time.* You must retake the exam within one calendar year of the original exam.
6. If you do not pass after the third exam, you will need to retake the course.

*A $100 non-refundable fee is required for each retake, which must be paid before you can register for an exam proctoring session. Additionally, payment must be completed within 48 hours to secure your virtual seat for the selected exam proctoring session.

Online Exam Sessions

ASA online examination sessions provide an opportunity for students who need to take any of the following *course exams online with ASA:

• OnDemand course exams;
• Audio course exams;
• Challenge course exams and/or
• Re-take exams

Upcoming Exam Sessions  
All exams begin at 11 am EST and each monthly exam session is monitored by a virtual proctor. To register for an online exam session, you must have already completed the course for which you will be taking the exam. 

How Does It Work?

1. Complete the coursework.
2. Once you have registered for the open examination session of your choice, email education@appraisers.org and let us know which exam you will be taking. This is very important so we will have your exam ready for you. The staff person in charge will send more detailed information closer to the scheduled exam session.
3. Carefully review the Exam Session Procedures tab, above. 
4. To join the scheduled exam session, either refer to your reminder email sent prior to the examination session, or via the Zoom link provided, which will allow us to proctor your exam.
5. Your webcam must be turned ON and you must be muted.
6. Once you're checked in, exam proctor/administrator will send you the link to your specific online exam.
7. Once you click on the exam link, your exam will begin.

Tips for Online Exams

1. As connectivity issues do arise, we recommend you write down your answers on a separate sheet of paper as you go. If any technical issues were to disrupt your exam, you will have a record of your answers available.
2. Once you are finished, you will submit your exam via the online software 

Post-Exam:

Upon successfully finishing the final exam, login to your ASA account:

• Select the 2024-2025 BV 15-Hour USPAP Course page
• Navigate to the Next Steps section within your Course Modules & Content tab 
• Complete the "Required Action" component and allow 5-7 business days for processing 
• Once processed, you will be notified and your access to your certificate of completion will unlock
• It's strongly advised to download and save a copy of your certificate for your records
• If you encounter any issues, please contact us at education@appraisers.org