Your Path to The CBI®
Your Path to Becoming a CBI While there is no “right” order in which to fulfill the requirements to become a Certified Business Intermediary (CBI) the IBBA® recommends taking the following steps once you meet the necessary experience requirements and decide to pursue your CBI designation.
Step 1.
Join the IBBA (or make sure your membership is up-to-date).
Step 2.
Enroll in IBBA University online courses. Course #101, #104 and #100 are all offered online and are part of the required CBI educational courses. You can also complete additional online courses towards the elective CBI course requirements. You can complete the online courses anytime, twenty-four hours a day, seven days a week! These courses can be purchased separately or through the CBI Bundle (Part 1).
(4 CREDIT HOURS)
(4 CREDIT HOURS)
Step 3.
Attend a live Recasting & Pricing Summit to complete Courses #210, #220 and #221. These courses can be offered live onsite or virtually, and several are held throughout the year, so make sure you know when the next Educational Summits are being offered by checking the Summit Calendar. These courses are not available at Conferences. Also, remember that Course #210 has a prerequisite! You must pass the free Course 210 Pretest with an 80% to enroll in the Summit. It is also strongly suggested that you take Course 102: Finance Fundamentals for Business Brokers, which is an online course available through IBBA University. Course 102 is not a requirement. Courses 210, 220, and 221 are only available as part of the Recasting & Pricing Summit (Part 2) on IBBA University.
Step 4.
Attend an IBBA Conference.
At the conference, you may also register and complete courses to fulfill any of the 16 elective credit hours that you have yet to complete.
Step 5.
Once all elective and required coursework is complete, submit your CBI Exam Application, and pay the required fee. Your exam application must be submitted and approved before you can sit for the CBI exam!
Step 6.
Take the CBI Exam. Once your application is approved, you will schedule to take your CBI exam through online proctoring. You must pass the CBI exam with a 70% or higher.
Step 7.
Submit 3 deals for approval as the lead seller broker on 3 going concern business transactions using the Initial CBI Transaction Submittal Form.
Step 8.
Once all requirements are met, submit your CBI application.
Additional Key Information
- You have three years to complete all CBI requirements. Your 3 years begins when you complete your first CBI requirement. Most CBI applicants can complete these requirements within one year, assuming they have met the transaction requirements; if you really focus and can travel, you can get the coursework completed within several months.
- All IBBA courses (other than the required courses) and M&A Source courses count as elective courses.
- Once your CBI exam is scheduled, a basic review webinar will be added to your IBBA University account. A live virtual CBI Exam Refresher session is offered twice a year to anyone approved to sit for the exam.
- The CBI exam ascertains competency in concepts deemed to be general business brokerage knowledge, and not exclusively the content contained within the CBI required courses.
- CBI related purchases can be purchased at a discounted rate on IBBA University through a 2 part bundle. The IBBA Member CBI Bundle (Part 1) includes 3 online required courses and 16 elective credits, plus the cost of an IBBA Conference Pass and the CBI Exam Application. The Nonmember CBI Bundle (Part 1) includes the same, as well as 1 year of IBBA membership. The Recasting & Pricing Summit (Part 2) includes required Courses 210, 220, and 221.
Any questions? Just send an email to [email protected] and we will assist you in any way we can.