In the archive you will find two MAX files:
MAX2014_VRayNext (Vray_Next – BRDF Microfaset GTR (GGX))
MAX2010_Vray2.5 (Vray2.5 – for those who work in early versions of VRay)

The EXPORT Folder contains FBX and OBJ files.
Who works in the V-Ray version lower than SP1 be careful in the materials in the BRDF section there is Microfaset GTR (GGX) if your version is older than SP1 then the BRDF field will be empty. In this case select a file for VRay2.5

Export saved in VRay 2.5
Curve indices in materials Blend materials as well as composite maps are not exported to FBX.