I appreciate the opportunity to comment on the Commission’s consideration of an examination-based pathway to accredited investor status. I am a graduate accounting student at the University of Utah’s David Eccles School of Business and am currently pursuing CPA licensure. My experience preparing for a professional examination has made me particularly interested in how an examination can be used to demonstrate competency rather than relying on indirect measures of knowledge. I support the concept of allowing individuals to qualify as accredited investors by demonstrating investment knowledge through an examination. If the purpose of this pathway is to establish that an investor can understand and evaluate the risks of private investments, I believe the examination should emphasize practical understanding rather than memorization of securities terminology or regulations. In particular, the examination should assess an investor’s understanding of the characteristics that distinguish private investments from public securities, including limited liquidity, reduced disclosure, valuation uncertainty, conflicts of interest, fees, investment structures, and the potential for substantial loss. Questions based on realistic investment scenarios could provide a stronger indication of investor understanding than questions focused primarily on definitions. The Commission should also consider how frequently an individual would need to demonstrate continued competency. Private markets and financial products evolve over time, and an examination taken many years earlier may become a less meaningful indication of an investor’s current knowledge. At the same time, continuing requirements should not be so burdensome that they undermine the accessibility of an examination-based pathway. I believe a well-designed examination could provide individuals with a direct opportunity to demonstrate that they understand the investments and risks associated with accredited investor status. I encourage the Commission to focus on practical investor competency when developing the content and continuing requirements of such an examination. Thank you for considering my comments.