Get globally recognized Chartered Investment Banking Professional (CIBP™) certification. The ultimate investment banking certification to become a top Investment Banker.

1.  myIBCA ☰
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.

2. REGISTRATIONS ARE CURRENTLY OPEN
FOR CIBP™
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.
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.
Register Now
Learn More +
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.

3. 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.
Exam-Study Handbooks +
Secondary Learning Resources +
Anywhere Exam Facility +
Printed Certi몭cates & Lapel Pin +
Digital Badges +
Shipping +
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

4. 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.

5. 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.
Exam Structure
CIBP™ Exam

6. 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/
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

7. 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

8. 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

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

10. 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

11. 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.

13. REGISTRATIONS ARE CURRENTLY
OPEN FOR CIBP™
REGISTER NOW
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.
CIBP™ PROFESSIONAL QUALIFICATION
STANDARDS
PARTNER IBCA
RESOURCES
EXAMINATION
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