How to become a Registered Valuer under Insolvency and Bankruptcy Board of India (IBBI)?
Becoming a Registered Valuer is becoming tough day by day as the Examination questions were getting tough tougher and toughest. Unless and until we are conceptually strong, it is difficult to crack the Exam.
The good thing about this Valuation Course is we only need to cross a Single hurdle, i.e., one and only one exam. And some more are…you can write any number of attempts and at any time( based on the availability of Slots)
Approximate Cost: Rs.40,000 to 50,000 [from start till getting your Certificate of Practice] (for me it was around 50k)
Approximate Time takes to Complete: Minimum 1.5 months. (for me it took around 2 months)
Approximate Time takes for Preparation: Dedicated 15 to 20 days (based on my personal experience)
Eligibility and Qualification:
|Eligibility Qualification and Experience for Registration as Valuer|
|Asset Class||Qualification||Experience in specified discipline.|
|Plant and Machinery||(i) Graduate in
c) Electronic and Communication,
d) Electronic and Instrumentation, e) Production,
i) Metallurgy, or
j) Aeronautical Engineering or
k) Graduate in Valuation of Plant and Machinery or equivalent.
|(i) Five years|
|(ii) Post Graduate on the above courses.||(ii) Three years|
|Land and Building||(i) Graduate in
a) Civil Engineering,
b) Architecture or
c) Town Planning or equivalent;
|(i) Five years|
|(ii) Post Graduate on the above courses and also in the valuation of land and building or Real Estate Valuation (a two-year full-time post-graduation course).||(ii) Three years.|
|Securities or Financial Assets||(i) a)Member of Institute of Chartered Accountants of India,
b) Member of Institute of Company Secretaries of India,
c) Member of the Institute of Cost Accountants of India,
d) Master of Business Administration, or
e) Post-Graduate Diploma in Business Management (specialization in finance).
|(ii) Post Graduate in Finance|
As per the above, one can become a Registered Valuer in all the Classes or for any one class based on eligibility and qualification.
I am a Registered Valuer for the asset class, Securities or Financial Assets…as I am a Chartered Accountant, I am eligible for only this Class of Assets.
Once you satisfy the Eligibility and Qualification Criteria we can start our journey towards becoming a Registered Valuer, by following these steps:
We need to attend the mandatory 50 hours of training from any of the below Registered Valuer Organisations* (RVO) as mentiopned on IBBI Website:
They will charge around Rs.20,000 to 25,000. Due to Covid, all RVOs are conducting online classes, the important thing is we need to switch on our webcam throughout the sessions, unlike any other classes. You are free to choose any RVO, each RVO is like a separate Private Institute under IBBI.
Once the 50hrs training is completed then, your RVO will issue a Certificate of Completion of 50 hrs Training.
After receiving the Certificate from your RVO, we can straight away start writing the Exam.
Details Relating to Exam:
Location: NISM Examination Centers
Website for Registration: https://certifications.nism.ac.in/nismaol/
Exam Fee: Rs.1,500 per attempt
Exam Schedule: Daily 4 Slots
Number of attempts: No Limit (we can write any number of times)
Marks: 100 Marks
Negative Marks: 1/4th marks of the wrong question[ if it is 1 mark question the negative will be 0.25 mark]
Pass Marks: 60 Marks
Every time we apply, we need to upload our Certificate issued by our RVO.
After passing the Registered Valuer Exam, we can apply for registration in Form-A with the provisional marks sheet(received at the exam center) without waiting for an official Passing certificate from IBBI.
Registration and Certificate of Practice (COP) need to be applied with the same RVO from where we had completed 50 hrs training. If we want to shift to another RVO, then we need to follow the prescribed procedure. We can shift at any time even after receiving COP.
Our association with IBBI is through an RVO, so we need to choose the best RVO for taking Membership and COP.
You can start Practicing after receiving COP from your RVO.
After passing we need to apply for COP within 3 years. This means if you are in Employment you must quit the Job within 3 years and then only you are eligible for applying COP.
If you have any queries, feel free to mail me: [email protected]