Private Markets Cert exam-day guide
Private Markets Cert · Prepare for the day ahead.
Your checklist
Government-issued photo ID
Bring the exact ID form named in your admission ticket (often a passport or driver's license). The name must match your registration exactly; if it does not, contact the provider before test day rather than assuming a correction is possible at the desk. Confirm with the provider which ID types are accepted for your test center or remote-proctored session.
Admission ticket or confirmation email
Print or save offline a copy of your appointment confirmation showing test name, date, time, and test-center address or remote-session link. You may not be admitted without proof of appointment, and cell reception at test centers can be poor.
Know your candidate ID number
Some providers assign a candidate or eligibility number that appears on your ticket. Write it down and keep it with your ID. If you cannot find it, confirm with the provider where it is located in your account.
Approved calculator (if permitted)
Private-markets exams often involve IRR, MOIC, and fee calculations. Check the provider's calculator policy: some allow only an on-screen calculator, some allow a specific handheld model, and some prohibit all calculators. Do not bring a prohibited model to the desk; it may be confiscated or trigger a conduct issue. Confirm with the provider.
Test-center logistics confirmed
For an in-person test, confirm the address, parking or transit options, and arrival time (often 15–30 minutes before the appointment). For a remote-proctored test, confirm the platform, system check, room requirements, and whether a webcam and microphone are required. Confirm with the provider.
Remote-proctoring environment check (if applicable)
Run the provider's system test at least 24 hours ahead: camera, microphone, browser lock, and internet stability. Clear your desk of notes, phones, and second screens. Know the check-in process and what ID you will show on camera. Confirm with the provider.
Breaks policy reviewed
Know in advance whether scheduled breaks exist, whether unscheduled breaks are allowed, and whether the clock stops. For in-person tests, know the rules for leaving the room; for remote tests, know whether leaving the camera view is permitted. Confirm with the provider.
Permitted items list reviewed
Check what you may bring into the testing room: tissues, water, medication, a sweater, earplugs. Many centers prohibit notes, phones, smart watches, and outside food. Items not on the permitted list usually must be stored in a locker or left outside.
Scratch paper and writing instrument policy
Some providers supply laminated scratch paper and a marker; others prohibit all writing materials. Do not assume you can bring your own. Confirm with the provider so you can practice calculations under the same constraints.
Scoring and result-timing expectations
Know whether results are immediate or delayed, what the passing score is, and whether a diagnostic score report is provided. This affects how you plan the days after the test. Confirm with the provider.
Rest, food, and medication plan
Plan a normal night's sleep, a light meal before the test, and any medication you may need. Avoid new caffeine doses on test day. If you have a documented accommodation, confirm it is approved and noted on your appointment.
Backup plan for disruptions
Save the provider's contact number and know the policy for technical failures, late arrival, or illness. For remote tests, have a phone hotspot or backup connection ready. Confirm with the provider how incidents are documented and whether rescheduling is possible.
Plan the day
Stop learning new topics. Review your own summary sheets for private-markets core areas: fund structures (LP/GP, closed-end vs open-end), fee mechanics (management fee, carried interest, hurdle rates, catch-up), IRR and MOIC calculations, J-curve and cash-flow timing, valuation approaches, and LP/GP governance. Do one timed mixed set of questions under exam conditions and review every wrong answer for the underlying concept, not just the correct option.
Confirm logistics in writing: test-center address or remote-session link, arrival time, ID requirements, calculator policy, and break rules. If anything is ambiguous, contact the provider now rather than the morning of the test.
Run a full system check if testing remotely. Update the browser, test camera and microphone, and verify that your room meets the provider's requirements (closed door, clear desk, no unauthorized materials).
Do a light review only: formulas you tend to forget (IRR assumptions, fee waterfall order, MOIC vs IRR differences), and a handful of practice questions to stay sharp. Do not cram new material; it raises anxiety without improving recall.
Prepare your ID, admission ticket, candidate number, approved calculator, and any permitted items in one place. Charge devices and, for remote tests, confirm the link works. Set two alarms.
Eat a normal dinner, avoid alcohol, and go to bed at your usual time. If you are traveling to a test center, confirm the route and leave buffer time for traffic or transit delays.
Eat a light breakfast and hydrate normally. Avoid a large new caffeine dose. Re-check your ID, ticket, and calculator. Arrive at the test center 15–30 minutes early, or log in for a remote session at the provider's stated check-in time.
Do not review heavy material in the waiting area. If you review at all, read only a one-page formula sheet. Keep conversation with other candidates minimal; last-minute comparisons tend to increase doubt.
Read the instructions and interface tutorial carefully, then start. Answer easier questions first if the platform allows navigation and flagging; return to calculation-heavy items later. For IRR and MOIC questions, write down cash flows and timing before computing. Watch units and percentages.
Manage the clock: note the total time and question count, and set a rough per-question pace. If a question takes far longer than your pace, flag it and move on. Leave time at the end to review flagged items and confirm no unanswered questions.
If a technical failure occurs, note the time and error, follow the proctor's instructions, and document the incident. Do not attempt to fix the platform yourself in ways the provider prohibits.
Note any questions you found ambiguous while they are fresh, and record your result timeline. If results are delayed, check the provider's stated window before contacting support.
Rules to check
Bring the exact government-issued photo ID named in your admission materials; the name must match your registration. If your ID name differs from your registration, resolve it with the provider before test day, not at the desk.
Arrive by the provider's stated check-in time. Late arrival may result in forfeiture of your appointment or a shortened test; the exact grace period is set by the provider, so confirm it in advance.
Follow the permitted-items list strictly. Phones, smart watches, notes, and unauthorized calculators are typically prohibited in the testing room; store them as instructed. Bringing a prohibited item can be treated as a conduct violation.
Breaks are governed by the provider's policy. Unless the provider states otherwise, the clock generally continues during unscheduled breaks, and leaving the camera view during a remote test may end the session. Confirm the break rules before test day.
Do not communicate with other candidates during the test, and do not share, photograph, or reproduce exam content afterward. Exam materials are confidential and such conduct can lead to score cancellation.
Scoring and passing standards are set by the provider. Do not assume a specific passing score or immediate result; check the provider's published scoring and result-timing policy.
If you experience a technical or personal emergency during the test, notify the proctor immediately and follow their instructions. Document the incident; the provider's policy governs whether rescheduling or a remedy is available.
Request any accommodation (extra time, separate room, medical needs) well before test day and confirm it is approved and noted on your appointment. Accommodations are generally not arranged on the day of the test.