Chartered Investment Banking Professional Certification | CIBP™

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Chartered Investment Banking Professional (CIBP™)

The Overview CIBP™ prepares you best for quick, impressive launch into investment banking, and faster growths in your career as well.

The CIBP™ is a quali몭cation for aspiring investment bankers, respected around the world. It tops-up your business degree really well for easing your entry into the challenging, but lucrative career of investment banking. As the most authoritative rati몭cation of the potential and promise of investment banking professionals, the CIBP™ is just the quali몭cation leading investment banks may be looking for in applicants for the top jobs they have on o몭er. You can register for CIBP™ from anywhere in the world, and take your CIBP™ exam right from the convenience of your home, or o몭ce and on your personal system.

REGISTRATIONS ARE CURRENTLY OPEN FOR CIBP™ Register Now CIBP™ Program Package Fee: US$

775

This is a one-time fee, which covers the IBCA exam, o몭cial exam-study handbook, credential kit containing CIBP™ certi몭cate and designation pin, and all material shipping costs. The CIBP™ program package fee does not include special local taxes, duties, and levies etc., which may be applicable in the receiver’s/ consignee’s/ applicant’s country.

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Notes : 1. This fee may change without notice and does not include the training fee charged by training companies, universities, or institutions who o몭er exam-preparation training for IBCA exams.

2. Independent content providers may o몭er additional online content and reading resources, which are not a part of the CIBP™ program package. Such content has no connection with IBCA, or with preparation for CIBP™ exam, and IBCA does not prescribe them as mandatory reading for any CIBP™ candidate. IBCA has no control on the fee charged by these independent providers, and is not responsible for their quality.

3. IBCA is a standards and credentialing body and is not responsible for training delivery, and neither controls, nor is concerned with any aspect of training/ education. IBCA does not govern, mandate, or control the training/ program fee charged for the CIBP™ Program by any training company or education provider.

All-Inclusive Package Latest handbooks, anywhere exam-taking facility, digital badge, printed certi몭cate, lapel pin and shipping of all material - everything is included in the registration package of the CIBP™ program.

Exam-Study Handbooks

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Secondary Learning Resources

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Anywhere Exam Facility

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Printed Certi몭cates & Lapel Pin

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Digital Badges

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Shipping

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Important: 1. The books, learning kit, certi몭cates etc., shown here in the image are only for illustration, and their design, colors etc., may change without notice. The certi몭cate and the designation pin are awarded only after the passing of the exam. 3rd-party additional content are NOT part of the standard CIBP™ program registration package.

Candidacy Tracks CIBP™ adds the advantage of a global program to the knowledge, experience and other quali몭cations you may already have. A basic awareness of portfolio management, asset management, corporate 몭nance, investment analysis, capital markets, accounting and business environment is desirable.

Apply for CIBP™ if you are into investment banking or a related industry - or if you are preparing for an investment banking career after completing your MBA or Master’s in accounting, investment management, 몭nancial analysis or related disciplines. Student of globally accredited business schools or institutions are also eligible for CIBP™.

Please check out more on the candidacy norms and prerequisites or write to

Please check out more on the candidacy norms and prerequisites or write to us at info@ibca.us.org for a more speci몭c advise that you may desire.

Track 1: MBA/ Master’s quali몭cation in accounting, investment management, portfolio management, private equity, 몭nancial analysis or related disciplines, with at least two years of professional experience in investment banking, M&A, private equity, 몭nancial engineering, or a related space

Track 2 Bachelor’s in accounting, investment management, portfolio management, private equity, 몭nancial analysis or related disciplines, with at least three years of professional experience in investment banking, M&A, private equity, 몭nancial engineering, or a related space.

Track 3: Students of MBA/ Master’s programs in business schools and institutions recognized by IBCA or by any of the other global accreditation bodies like the AACSB, AMBA and EQUIS.

Track 4: Currently working in any of the 몭nance sub-functions with a bachelor's degree and an active credential by CFA, or any other global certi몭cation body recognized by IBCA.

How to Apply There are 몭ve distinct stages of your journey toward becoming a CIBP™. Here is what these stages look like. Of course, we have just tried to take you through a quick tour, so many of the details may be missing. You may Contact Us for more information.

Check Eligibility Requirements IBCA mandates you to meet certain educational and work experience requirements to become eligible. Before proceeding, check if you satisfy the minimum eligibility requirements for the CIBP™. It is recommended that you keep this information handy as it will be required while 몭lling up your online application.

application.

Fill Online Application Once you have satis몭ed the CIBP™ eligibility requirements, it is time to apply.

Start the application process by creating your myIBCA account. Once you have submitted the online application and made a successful payment of the fee, you will immediately receive an acknowledgement response email with instructions for the next step in the process.

Validation An internal check is conducted to validate your credentials against the prescribed candidacy prerequisites for earning the CIBP™.

Learning Resources Post your payment con몭rmation, you will receive your unit of the learning resources containing reading and learning material at the address you have registered with us. Normal delivery timeframe is three-four weeks. Access to online learning material will be shared within 몭ve to six weeks once you receive the learning resources.

Award If you qualify the CIBP™ exam and meet other conditions, you are awarded the CIBP™ credential and the Digital Badge is immediately issued to you. You can expect the shipment of the physical credential pack to reach you within three to four weeks from the date of the credential - award.

CIBP™ Exam Exam Structure

CIBP™ Exam – The Coverage The questions appearing in the exam aim to check and validate participants' awareness and knowledge about all important concepts, processes, techniques and methodologies used in analyzing and decision-making in typical roles and jobs in Investment Banking. CIBP™ exams steer away from basic 몭nance and accounting, and focus entirely on the mechanics and analytics of Investment Banking. Participants are expected to be exposed to business fundamentals and also the bare basics of accounting and 몭nance for a faster and more in-depth learning of Investment Banking.

The exam features questions drawn from a wide selection of investment banking areas, a knowledge in which the body of knowledge de몭nes as essential to have for individuals intending to be Investment Bankers. The framework and coverage of the exam is accurately 몭eshed out in the IBCA Handbook of Investment Banking, provided to every CIBP™ participant. The following topics have been speci몭cally assigned in which the knowledge of participants are tested:

Knowledge Areas & Topics PART A: Valuation and Comparable Companies Analysis A. Selection of the Universe of Comparable Companies; studying the target; identifying Key Characteristics of the Target for Comparison Purposes; and screening target for Comparable Companies B. Locating the Necessary Financial Information; SEC Filings: 10-K, 10-Q, 8-K, and proxy Statements; Equity Research; Press Release and News Runs; Financial Information Services; Summarizing Financial Data primary Sources C. Spreading Key Statistics, Ratios, and Trading Multiples; Calculation of Key Financial Statistics and ratios; Supplemental Financial Concepts and Calculations, and Calculation of Key Trading Multiples D. Benchmarking the Comparable Companies; Benchmarking the Financial Statistics and Ratios; benchmark the Trading Multiples E. Determine Valuation of the target company using a variety of methods PV/EBITDA/

E. Determine Valuation of the target company using a variety of methods PV/EBITDA/ P/E and arriving at the most logical Valuation after assessing the pros and cons of each method.

PART B: Precedent Transactions Analysis A. Selecting the Universe of Comparable Acquisitions; Screening potential targets for Comparable Acquisitions and Examining Other Considerations B. Locating the Necessary Deal-Related and Financial Information; listing out potential Public Targets and Private Targets and Summarizing Primary SEC Filings in M&A Transactions C. Spreading Key Statistics, Ratios, and Transaction Multiples; Calculation of Key Financial Statistics and Ratios and Calculation of Key Transaction Multiples D. Benchmark the Comparable Acquisitions; Determining Valuation and discussing the Key Pros and Cons

PART C: Discounted Cash Flow Analysis A. Studying the Target and Determining Key Performance Drivers B. Considerations for Projecting Free Cash Flow; Projection of Sales, EBITDA, and EBIT; and Projection of Free Cash Flow C. Calculating Weighted Average Cost of Capital by Determining Target Capital Structure, the Estimated Cost of Debt (rd) and the Estimated Cost of Equity (re).

D. Determining terminal Value using Exit Multiple Method and the Perpetuity Growth Method E. Calculating Present Value of the acquisition; Determining Valuation of the target; Performing Sensitivity Analysis

PART D: Leveraged Buyouts - Mechanism & Market A. Understanding Key participants including Financial Sponsors, investment banks, Bank and Institutional Lenders and Bond Investors B. LBO Target management: Analyzing Characteristics of a Strong LBO Candidate; Strong Cash Flow Generation; Leading and Defensible Market Positions; Growth Opportunities; E몭ciency Enhancement Opportunities; Low Capex Requirements; Strong Asset Base; Proven management team C. Economics of LBOs: Returns Analysis using Internal Rate of return; Return Analysis using Cash Return; How LBOs Generate Returns; understanding how Leverage is used to enhance Returns D. Primary Exit/monetization Strategies: Sale of Business; Initial Public O몭ering ; Dividend Recapitalization; Below Par Debt Repurchase E. LBO Financing: Structure; Primary Sources like Bank Debt, High Yield Bonds, Mezzanine Debt and Equity Contribution F. LBO Financing: Selected Key Terms like Security, Seniority, Maturity, Coupon, Call Protection, Covenants, term Sheets

PART E: LBO Analysis for Decision-Making A. Locating and Analyzing the Necessary Information to determine Financing Structure and Valuation

B. Building the Pre-LBO Model using Historical and Projected Financial and Cash Flow Statements C. Working on Deal Transaction Structure using Purchase price Assumptions; Financing Structure information, Sources of Finance, etc.

D. Completing the Post-LBO Model by Building the Debt Schedule; 몭nalizing the Pro Forma Income Statement From EBIT to Net Income, Pro Forma Balance Sheet, and Pro Forma Cash Flow Statement

PART F: Sell-Side Mergers & Acquisitions A. Mechanism of Auctions; Auction Structure B. Organization and Preparation for a Sell-Side M&A deal: Identifying Seller Objectives and Determine Appropriate Sale Process; Performing Sell-Side Advisor Due Diligence and Preliminary Valuation Analysis; Selecting Buyer Universe; Preparing Marketing Materials; Preparing Con몭dentiality Agreement C. First Round M&A Activities: Contacting Prospective buyers; Negotiating and Executing Con몭dentiality Agreement with Interested parties; Distributing Con몭dential information Memorandum and Initial Bid Procedures Letter; Preparing Management Presentation; Setting up Data Room; Preparing Stapled Financing Package; Receiving Initial Bids and Selecting Buyers to Proceed to Second Round; Understanding the Valuation Perspectives-Strategic Buyers vs. Financial Sponsors D. Second Round M&A Activities: Conducting Management Presentations; Facilitating Site Visits; Providing Data Room Access; Distributing Final Bid Procedures Letter and Drafting De몭nitive Agreement; Finalizing Bids from buyers E. Evaluation of Final Bids; Negotiating with Preferred Buyer(s); Selecting Winning Bidder; Rendering Fairness Opinion; Receiving Board Approval and Executing De몭nitive Agreement F. Closing the deal by Obtaining Necessary Approvals from Shareholders; Financing and Closing the Negotiated Sale

PART G: Buy-Side Mergers & Acquisitions A. Buyer Motivation and Synergies; Cost synergies; Revenue Synergies; Acquisition Strategies; Horizontal Integration; Vertical integration; Conglomeration B. Forms of Financing: Cash on Hand; Debt Financing; Equity Financing; Debt vs. Equity Financing; Acquirer Perspective C. Deal Structuring; Stock Sale; Asset Sale; Stock Sales Treated as Asset Sales for Tax Purposes D. Buy-Side Valuation; Football Field Analysis at various prices; Contribution Analysis; Merger Consequences Analysis; Purchase Price Assumptions; Balance Sheet E몭ects; Accretion/ Dilution Analysis; Acquisition Scenarios (50% Stock / 50% Cash; or 100% Cash; or 100% Stock) E. First Round M&A Activities: Contacting Prospective sellers; Negotiating and Executing Con몭dentiality Agreement with Interested parties; Distributing Con몭dential information Memorandum and Initial Bid Procedures Letter; Preparing Management Presentation; Setting up Data Room; Preparing Stapled Financing Package; Receiving Initial Bids and Selecting Sellers to Proceed to Second Round; Understanding the Valuation Perspectives-Strategic Sellers vs. Financial Sponsors F. Second Round M&A Activities: Conducting Management Presentations; Facilitating Site Visits; Providing Data Room Access; Distributing Final Bid Procedures Letter and

Site Visits; Providing Data Room Access; Distributing Final Bid Procedures Letter and Drafting De몭nitive Agreement; Finalizing Bids from Sellers

Structure & Nature of a Typical CIBP™ Exam The CIBP™ exam is timed for 90 minutes, featuring 50 multiple choice questions. Participants can take their exam online anytime on their own system after verifying their computer machines.

A typical CIBP™ exam generally includes a mix of Type A and Type B questions for a total of 50 questions, though some exams may feature only one type of questions. Also, the number of questions may change without notice.

TYPE A - GENERAL UNDERSTANDING OF CONCEPTS

Questions directly test the participants' ability to correctly and precisely recollect concepts, principles, techniques, and generally accepted practices in contemporary Investment Banking. The answers to TYPE A questions will re몭ect participants' awareness and comprehension of critical concepts and issues as covered in the IBCA body of knowledge. TYPE A Questions are facts based with the answer options being clear statements either clearly correct, or incorrect. There is only one CORRECT answer to TYPE A questions, and participants are scored only if the correct options are selected.

TYPE B - ABILITY TO APPLY UNDERSTANDING & KNOWLEDGE

Questions directly test the examinees' ability to apply and execute their awareness and understanding of the concepts and principles in the practice of Investment banking. The answers to TYPE B questions will re몭ect participants' capacities for critical analysis and judgement in gauging decision challenges. Questions will test examinees' abilities to devise approaches, plans and methods to resolve challenges with accountability and a high degree of e몭ectiveness. TYPE B questions have four answer choices and multiple answers can be correct. Participants are scored only if all correct answers have been marked.

The Objectives and Principles Underlying the Design of CIBP™ Exam The exam aims at validating the participants' potential and capacity to e몭ectively perform an array of tasks across the entire spectrum of investment banking sub-domains. The exam system validates this potential through assessing participants' knowledge about investment banking theory and practice and their ability to apply this knowledge to achieve excellence in

and practice and their ability to apply this knowledge to achieve excellence in their performance. These exams are designed on standards from the Standardized Knowledge Architecture for Practice Excellence. The IBCA Body of Knowledge has been engineered to rede몭ne the profession of investment banking in the 21st century.

CIBP™ exams test participants on their knowledge of the state of the art principles, theories and generally accepted analysis and decision-making techniques, approaches, methods and practices. These exams expect that individuals being assessed for their CIBP™ program read the material contained in the IBCA Investment Banking Handbook and maintain familiarity with the latest in Investment Banking theory and practice by reading journals and books, listening to podcasts of experts and participating in professional development programs and events.

Qualifying the CIBP™ Exam Usually, a cumulative score of 65%-70% in the exam can be deemed quali몭cation worthy. However, an examinee's real, individual scores do not decide the recommendation for the award. Instead, a complex algorithm is used to make award decisions which nullify geographic and other environmental factors with potential to skew performance. As such, the certifying benchmark should not be expected to stay pegged at an exact number for pass/fail.

Preparing for the CIBP™ Exam CIBP™ is for young professionals aspiring to break into and grow their careers in the Investment banking space. It is critical that all CIBP™ participants focus on widening their perspective of Investment banking.

While the learning resources contains books and guidelines on how to study for the exam, additional research should be done to properly prepare for the exam. Investment banking is an evolving discipline and will perhaps never

exam. Investment banking is an evolving discipline and will perhaps never become an exact science, making-containing the entire practice of Investment banking into a single textbook impossible. IBCA has evolved its essential knowledge model in what is the world’s largest project on de몭ning knowledge essentials for excellence in Investment banking. As a program in Investment banking, IBCA has done its part to cover the extensive breadth of Investment banking to assure that the CIBP™ program makes an impact on the professional capabilities of quali몭cation holders.

While CIBP™ participants are clearly advised to use The IBCA Handbook on Investment banking as the master reference for preparing for their exams, the handbook is one piece in preparation for the exam. Although questions in a typical exam are drawn from content, which is available in the Handbook, it is also possible that a few questions may arrive from sources other than the text book provided to participants. IBCA therefore strongly advises all examinees to research other online and o몭ine resources to brush up their concepts and awareness about how Investment banking impacts business.

To ensure that all CIBP™ participants develop themselves into the best young international professionals, IBCA advises they read extensively on the subject from as many sources as possible.

CIBP™ Continuation Policy – 2021 Business, environment and technology change faster today. Hence, your CIBP™ quali몭cation requires refreshing every three years to stay in sync with the latest professional knowledge and practices in the Investment Banking discipline. Your myIBCA dashboard will have all information on what to read and the other steps you have to take to keep your knowledge and skills current and continue your quali몭cation.

The Digitally Badged CIBP™ The CIBP™ is digitally badged by CredBadge, using its secure, proprietary badging technology.

The CIBP™ not only maximizes your pro몭le visibility through social sharing, but it also adds distinction to your pro몭le, being individually veri몭able by a prospective employer or client.

REGISTRATIONS ARE CURRENTLY OPEN FOR CIBP™ REGISTER NOW

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