Latest PDF of CVA: Certified Valuation Analyst (CVA)

Certified Valuation Analyst (CVA) Practice Test

CVA exam Format | Course Contents | Course Outline | exam Syllabus | exam Objectives

Certified Valuation Analyst® (CVA®) Determine, Defend, and Maximize Company Value™

Business valuation is the "Gold Rush" of the century. 10 million small businesses will change hands over the next 10 years. Could you confidently advise your clients if they came to you faced with these issues-
An opportunity arises to sell or merge the business.
They are faced with transitioning the business to family members or other partners.
They are looking to expand the business and need to secure capital.
They are taking on new partners and need to determine buy-in price.
They are reaching retirement and considering an exit strategy.
Business partners or shareholders are exiting, requiring the business to be divided or dissolved.
They are embroiled in financial litigation.
They want to focus energies to grow company value.

Establish your authority in matters of value! Bolster your reputation with your clients. Enhance your credibility within the business community. Demonstrate competency to the courts that you can articulate business value.

I. OVERVIEW 4.0%
A. Purpose for business valuation 0.5%
1. Financial accounting
2. Tax valuations
3. Litigation
4. Merger and acquisition
B. Standards of value 1.5%
1. Definitions of standards of value, including
a) Fair market value (U.S. based definition as starting point)
b) Statutory fair value
c) Financial reporting fair value
(1) IFRS
(2) U.S. GAAP
d) Investment (strategic) value
e) Intrinsic (fundamental) value
2. Relationship between purpose of the valuation and standard of value
C. Premise of value 0.5%
1. Going concern
2. Assemblage of assets
3. Liquidation (orderly or forced)
D. Principles of value 1.0%
1. Value is determined as of specific point in time
2. Value reflects prospective cash flow
3. Value reflects the level of risk into the rate of return
4. Value is influenced by liquidity
E. Levels of value 0.5%
1. Lack of control (minority vs. control)
2. Marketable vs. non-marketable
3. Strategic and investment value
II. PROFESSIONAL RESPONSIBILITIES AND STANDARDS 4.5%
A. NACVA Standards 1.5%
B. Ethical considerations 1.0%
C. Communicating and reporting analysis and results 1.0%
D. Roles of the valuation analyst in litigation services 1.0%
III. ENGAGEMENT ACCEPTANCE AND PLANNING 3.0%
A. Defining the engagement 1.0%
1. Valuation date and its importance
2. Structure of the entity
3. Interest being valued
4. Purpose and objective of valuation
5. Standard of value and premise of value
6. Conflict checks
B. Engagement Letters 1.0%
1. Purpose
2. Content
C. Acceptance 1.0%
1. Experience
2. Staffing
3. Expectations
IV. QUALITATIVE ANALYSIS 9.0%
A. International Sources of Data 1.5%
B. Economic Environment 1.5%
1. Macro-environment
2. Micro-environment
3. Relationship of economic activity to the valuation
C. Industry background 3.0%
1. Economic data
2. Structure, trends, and life cycle
3. Market and competitive analysis
D. Company background 3.0%
1. Company structure and ownership
2. Site visit and interviews with key personnel
3. History and nature
4. Economic data (cost structure, pricing power, marginal analysis)
5. SWOT analysis (Strengths, Weaknesses, Opportunities, and Threats)
V. QUANTITATIVE ANALYSIS 15.5%
A. Financial statements 4.5%
1. Source (audited/reviewed/compiled/tax returns/internal)
2. Number of years to obtain
3. Common size
4. Trend analysis
5. Ratios
6. Comparative analysis
a) Specific company
b) Industry averages
B. Adjustments to financial statements 4.5%
1. Normalizing
a) Control vs. non-control
b) Discretionary
c) Reasonable compensation analysis
d) Extraordinary/non-recurring
2. Operating vs. non-operating items
3. Off-balance sheet and unrecorded items
C. Statistical Analysis 3.0%
1. Measures of central tendency (arithmetic, harmonic, geometric means)
2. Measures of dispersion (including variance and standard deviation)
3. Statistical strengths of numerical relationships (including covariance, correlation, coefficient of determination, and coefficient of variation)
4. Linear regression
D. Types of benefit streams and selection 3.5%
1. Selection of appropriate time periods (including mid-year convention)
2. Selection of appropriate type of income/cash flow
3. Growth assumptions
a) Trend line projected
b) Constant
c) Erratic
d) Level
e) Declining growth approaches
E. Historical vs. projection based on considerations
F. Relating effects due to economic/industry events and trends
G. Pass-through entities – tax effecting of the benefit stream
VI. VALUATION APPROACHES 28%
A. Income approach 10%
1. General theory
2. Defining applicable income/cash flow
3. Sources of data
4. Capitalization vs. discount rates
5. Commonly used methods
a) Discounted economic income/cash flow method (DCF) (multi-stage model)
(1) The method is applied using cash flow available to invested capital
(2) The method is applied using cash flow available to equity
b) Capitalized economic income/cash flow method (CCF), including Gordon Growth
Model (constant growth model)
(1) The method is applied using cash flow available to invested capital
(2) The method is applied using cash flow available to equity
c) Excess earnings (cash flow) method
d) Dividend paying capacity
B. Market approach 8.0%
1. General theory
2. Commonly used methods
a) Transactions in subject companys stock
b) Transactions/sales of companies similar to subject
(1) Guideline public companies
(a) General theory
(b) Selecting guideline companies
i) Sources of data
ii) Size adjustments
(c) Equity vs. invested capital (including multiples)
(d) Selection of appropriate time periods
(e) Selection of appropriate multiples
i) Adjusting for growth, size, and company specific risk
(2) Guideline merged and acquired companies
(a) General theory
(b) Sources of data/relevant transactional databases
(c) Consideration of the selection of data points
C. Asset Approach 6.0%
1. General theory
2. Sources of data
3. Commonly used methods
a) Book value
b) Net tangible value
c) Adjusted net asset method (intangible and tangible assets)
d) Excess earnings method
e) Liquidation method (forced or orderly)
4. Identifying and valuing intangible assets
a) Approaches and methods
b) Estimated life
c) Impairment
5. Off-balance sheet and unrecorded items (including tax issues)
D. Sanity Checks 2.0%
1. General theory
2. Sources of data
3. Commonly used methods
a) Industry formulas (“Rules of Thumb”)
b) Justification of purchase
E. Reconciliation of indicated values 2.0%
VII. COST OF CAPITAL CONCEPTS AND METHODOLOGY, AND OTHER PRICING MODELS 17.5%
A. Capital asset pricing model (CAPM) 6.0%
1. Risk free rate
2. Equity risk premium
3. Beta (ß) including un-levered and re-levered
B. Build-up method and Modified CAPM 5.5%
1. Risk free rate
2. Equity risk premium
3. Beta (ß) including un-levered and re-levered
4. Size risk premium
5. Industry risk premium
6. Company specific risk
7. Long-term sustainable growth
8. Other
C. Weighted average cost of capital 4.0%
D. Converting after tax risk rates to pre-tax rates 1.0%
E. Other recognized methods (e.g. Gordon Growth, Arbitrage Pricing, Fama- French Three Factor, Market Multiples, Risk Rate Component Model) 1.0%
VIII. DISCOUNTS, PREMIUMS, AND OTHER ADJUSTMENTS 13%
A. Levels of value and effect on discounts and premiums 2.0%
1. Synergistic value
2. Control value
3. Non-controlling, marketable value
4. Non-controlling, non-marketable value
B. Adjustments for Control Issues 3.5%
1. General theory
2. Sources of data
3. Ownership characteristics
4. Magnitude
5. Relationship to how benefit stream is defined
C. Adjustments for Marketability Issues 3.5%
1. General theory
2. Sources of data
3. Ownership characteristics
4. Restrictions on transferability
5. Magnitude
6. Models
D. Discounts and premiums—understanding the empirical studies 2.0%
E. Subsequent events 1.0%
F. Other valuation discounts and adjustments (e.g. Key Person, Blockage, Restrictive Agreement, Lack of Voting, Lack of Liquidity, Contingent Liabilities) 1.0%
IX. SPECIAL PURPOSE VALUATION 5.5% %
A. Intangible assets 2.0%
B. Debt securities 0.5%
C. Convertible securities 0.5%
D. Preferred stock 0.5%
E. Stock options 0.5%
F. Voting vs. Non-voting stock 0.5%
G. Professional vs. practice goodwill 0.5%
H. Other special purpose valuations (e.g. Fair Value, Mergers and Acquisitions, Pension Benefits, Insurance policies) 0.5%
Total 100%

100% Money Back Pass Guarantee

CVA PDF trial Questions

CVA trial Questions

CVA Dumps CVA Braindumps
CVA practice questions CVA practice exam CVA real Questions
killexams.com Financial CVA
Certified Valuation Analyst (CVA)
https://killexams.com/pass4sure/exam-detail/CVA
1. The comparative sales method
2. A and C
Answer: D
QUESTION: 236
Which of the following attribute should be there for an intangible asset to exist from an economic perspective?
1. It should be subject to legal existence and protection
2. It should be subject to specific identification and recognizable description
3. It should be subject to right of private ownership
4. All of these
Answer: D
QUESTION: 237
Which of the following is NOT a common category of intangible assets?
1. Technology-related
2. Human-capital-related
3. Location-related
4. Data warehousing-related
Answer: D
QUESTION: 238
is a specialized classification of intangible and its categories are creative
(e.g. copyrights) and innovative (e.g. patents).
1. Intellectual properties
2. Intellectual capital
3. Both A & B
4. Intellectual rights
Answer: A
QUESTION: 239
The cost approach provides a systematic framework for estimating the value of an
intangible asset based on the economic principle of:
1. Substitution
2. Competition
3. Double counting
4. Asset-based approach
Answer: A
QUESTION: 240
An intangible�s deficiencies are considered curable when the prospective economic benefit of enhancing or modifying it exceeds the current cost (in terms of material, labor, and time) to change it. An intangible�s deficiencies are considered incurable when:
A. The current costs of enhancing or modifying it (in terms of material, labor and time) can not exceed the expected future economic benefits of improving it
B .The current costs of enhancing or modifying it (in terms of material, labor and time) exceed the expected future economic benefits of improving it
1. Cost encompasses all of the deficiencies
2. Reproduction cost exceeds the real production cost
Answer: B
QUESTION: 241
Analysts should consider each of the following measure when estimating the remaining useful life of intangible asset EXCEPT:
1. Remaining legal (or legal protection) life (e.g., remaining term of trademark protection)
2. Remaining contractual life (e.g., remaining term on a lease)
3. Remaining copyrighted life (e.g., time period for which copyrights are sold)
4. Remaining technological life (e.g., period until the current technology becomes
obsolete, for patents, proprietary processes, etc.)
Answer: C
QUESTION: 242
Because of the advanced features (protected by the several patents), Seller management
estimates that:
1. Seller sells more widgets than it otherwise would
2. Seller has a greater market share than it otherwise would
3. Seller�s average selling price per unit is higher than its competitors� prices
4. Seller has short-term supply contract supply contract with the key supplier
Answer: A, B, C
QUESTION: 243
The analyst used
to quantify the value of intangible assets. The analyst
estimated the current cost required for the company to recreate its current level of
customer awareness, brand recognition and consumer loyalty.
1. Asset accumulation method
2. Income approach
3. Recreation cost method
4. Valuing intangibles method
Answer: C
QUESTION: 244
This is sometimes considered the accumulation of all other elements of economic value of business enterprise not specifically with (or allocated to) individual tangible and intangible assts. Its analysis and qualification is an important component in the application of asset accumulation method to a company like Seller. What is this?
1. Trademark
2. Goodwill
3. Patents
4. Copyrights
Answer: B
QUESTION: 245
Asset accumulation method can quickly quantify the effects on business value of many
common seller structural considerations, such as:
1. What if the seller retains the company�s cash on hand or accounts receivables?
2. What if seller does not retain (or leases back to the company) the operating real estate
facilities?
3. What if seller sells the title of the patents or to some other intangible asset owned by
the company?
4. What if seller does not legally retain any or all of the debt instruments?
Answer: A
QUESTION: 246
Which of the following is the primary disadvantage of the asset accumulation method?
1. If taken to an extreme, it can be very expensive and time consuming
2. It may necessitate the involvement o appraisal specialists in several asset valuation
disciplines
3. The valuation requires the valuation of all the company assets
4. The value of all assets, properties, or business interests depends on their economic income-generating capacity
Answer: A
QUESTION: 247
A general category of taxable events relates to the amount of recognition of income (if any) associated with economic benefits received by a business. Examples of this category of taxable events include all of the following EXCEPT:
1. The valuation of property received, such as rents
2. The valuation (or the solvency/insolvency test) related to the recognition (or non-
recognition)
3. A valuation that is needed when a business (whether the business is a proprietorship,
corporation or partnership)
4. A valuation when a tax payer claims a deduction
Answer: C, D
QUESTION: 248
There are some allowable methods for determining the basis of property received in exchange for other property. Which of the following is/are out those methods?
1. Income basis of tax on the property
2. If a taxpayer receives property for services, then the original basis of the property when it is received is its original price
3. The basis is the fair market value of the property exchanged for it, increased by any payments made or decreased by any payments received, when the two properties are of
unequal value
4. The basis is the fair market value of the property when its is received
Answer: C, D
QUESTION: 249
Various transactional and taxation events may occur that change the taxpayer�s original basis in the property. These events usually _the original basis.
1. Increase
2. Decrease
3. Increase or decrease
4. It depends
Answer: C
QUESTION: 250
No deduction is allowed for any charitable contribution of or more unless the
taxpayer substantiates the contribution by a contemporaneous written acknowledge from the donee organization of the contribution.
A. $300 B. $400 C. $350
D. $250
Answer: D
QUESTION: 251
The IRC limits an individual taxpayer�s charitable deduction each year to a percentage of
adjusted gross income, depending on:
1. The value of gift
2. The type of gift
3. The fair market price of gift
4. Valuation advisories
Answer: B

Killexams VCE exam Simulator 3.0.9

Download Killexams-Exam-Simulator-3.0.9.rar

Killexams has introduced Online Test Engine (OTE) that supports iPhone, iPad, Android, Windows and Mac. CVA Online Testing system will helps you to study and practice using any device. Our OTE provide all features to help you memorize and practice exam Q&A while you are travelling or visiting somewhere. It is best to Practice CVA exam Questions so that you can answer all the questions asked in test center. Our Test Engine uses Questions and Answers from real Certified Valuation Analyst (CVA) exam.

Killexams Online Test Engine Test Screen

Killexams Online Test Engine Progress Chart

Killexams Online Test Engine Test History Graph

Killexams Online Test Engine Performance History

Killexams Online Test Engine Result Details

Online Test Engine maintains performance records, performance graphs, explanations and references (if provided). Automated test preparation makes much easy to cover complete pool of questions in fastest way possible. CVA Test Engine is updated on daily basis.

Anyone can pass CVA exam with our Premium Questions and Ans and practice questions

Killexams.com delivers the most current and 2025 updated Pass4sure CVA practice test software TestPrep, featuring real questions Q&A tailored to the latest subjects of the Financial CVA Exam. Engage with our CVA real questions practice exam Q&A to deepen your knowledge and achieve high marks. We ensure your triumph at the Exam Center by covering all exam references and building your confidence with the CVA test. Succeed with our CVA Exam Questions preparation tools.

Latest 2025 Updated CVA Real exam Questions

Seeking a dependable and current source for CVA Mock Questions Practice Tests? Avoid wasting time with outdated or invalid materials from other web providers. Trust killexams.com, where you can download 100% free CVA Pass Guides test questions to experience our superior quality firsthand. Then, register for a 3-month subscription to access the latest and most valid CVA Mock Questions, featuring authentic CVA test questions and answers. Enhance your preparation with our CVA VCE test system, designed for optimal exam readiness. At killexams.com, our expert team diligently collects and regularly updates genuine CVA test questions to ensure your success in the Financial CVA exam and help you secure a rewarding career. download the latest CVA test questions at no cost, guaranteed to be valid and up-to-date. Steer clear of unreliable free CVA Pass Guides found online, which may lack accuracy. Choose killexams.com for trusted, high-quality CVA test preparation.

Killexams Review | Reputation | Testimonials | Customer Feedback

High-quality training materials were key to my 98% score on the CVA exam. By memorizing their questions and answers, I confidently marked the correct answers during the test. Their resources made preparation seamless, and I highly recommend them to all candidates.
Martha nods [2025-4-6]

I am deeply grateful to the killexams.com team for their exceptional platform, which helped me achieve an 81% score on my CVA exam. Their practice questions and case studies were clear and aligned perfectly with the exam’s format, making complex subjects easy to understand. The detailed explanations provided invaluable insights, and I encourage anyone preparing for this certification to leverage killexams.com’s resources for a stress-free study experience. Their outstanding work truly sets them apart.
Lee [2025-4-14]

Exceptional testprep guide was a daily resource, helping me achieve a fantastic score in the CVA exam. Their expertise provided outstanding assistance, ensuring thorough preparation, and I am thankful for their reliable materials.
Martin Hoax [2025-4-23]

More CVA testimonials...

CVA Exam

User: Aria*****

Practice tests were crucial in helping me pass the cva exam on my first attempt. The exam simulator and question-answer format aligned perfectly with my professional experience, giving me a clear understanding of the exam content. I am grateful for their high-quality study materials and recommend them to all candidates.

User: Snezhana*****

Killexams.com was key to my success in passing the challenging cva exam. Their practice questions featured real, accurate questions that boosted my confidence going into the test. The ability to memorize and understand the material made the exam feel manageable, and I’m proud to now include this certification on my resume.

User: Mary*****

I passed my CVA exam last week and another exam this month, thanks to killexams.com’s effective practice tests. The questions were familiar, and I was thrilled to know all the answers. Their materials are ideal for both exam preparation and knowledge enhancement, and I highly recommend them.

User: Elena*****

I was recommended Killexams.com practice questions as a quick reference for my exam, and they did a terrific job. I was impressed with their performance and the way they presented the material. The short and concise answers were easy to remember, and I scored 80% marks by answering 98% of the questions. Although I did not devote much time to prepare for the CVA exam, I found it to be a noteworthy undertaking for my IT profession.

User: Renata*****

I am very glad that I passed the CVA exam with a top score, and I owe it all to killexams.com. I used their exam simulator as my primary source of preparation, and I consistently received a passing score. The content is very reliable, and I am truly happy that I trusted killexams.com. Everything was expertly crafted and dependable. Thumbs up from me!

CVA Exam

Question: Where should I register for CVA exam?
Answer: You can register at killexams.com by choosing the exam that you want to pass. You need not signup, just add the exam to the cart and go through the payment procedure. Your account will be automatically created and you will receive your login details by email. Killexams.com is the right place to download the latest and up-to-date CVA questions that work great in the real CVA test. These CVA questions are carefully collected and included in CVA question bank. You can register at killexams and download the complete question bank. Practice with CVA exam simulator and get Good Marks in the exam.

Question: Do you have real study questions updated CVA exam?
Answer: Yes, we have the latest real CVA study questions for you to pass the CVA exam. These real CVA questions are taken from real CVA exam question banks, that's why these CVA exam questions are sufficient to read and pass the exam. Although you can use other sources also for improvement of knowledge like textbooks and other aid material these CVA questions are sufficient to pass the exam.

Question: I have taken Instructor training, do I still need CVA test prep?
Answer: Killexams recommend these CVA questions to memorize before you go for the real exam because this CVA dumps collection contains an up-to-date and 100% valid CVA dumps collection with a new syllabus. Killexams has provided the shortest CVA questions for busy people to pass CVA exam without studying massive course books. If you go through these CVA questions, you are more than ready to take the test. We recommend taking your time to study and practice CVA practice exam until you are sure that you can answer all the questions that will be asked in the real CVA exam. For a full version of CVA test prep, visit killexams.com and register to download the complete dumps collection of CVA exam test prep. These CVA exam questions are taken from real exam sources, that's why these CVA exam questions are sufficient to read and pass the exam. Although you can use other sources also for improvement of knowledge like textbooks and other aid material these CVA questions are sufficient to pass the exam.

Question: If there is any issue in software installation, who should I contact?
Answer: You should first go through FAQ at https://killexams.com/faq for information about software installation. If you do not find the required assistance, you can contact support via live chat or email.

Question: How much effort I need to put in CVA exam preparation?
Answer: You do not need any special efforts. You just need practice questions to pass the CVA exam. Visit killexams.com and register to download the complete dumps collection of CVA exam test prep. These CVA exam questions are taken from real exam sources, that's why these CVA exam questions are sufficient to read and pass the exam. Although you can use other sources also for improvement of knowledge like textbooks and other aid material these CVA questions are sufficient to pass the exam.

References

Frequently Asked Questions about Killexams Practice Tests

Where to sign up for CVA exam?
You can signup or register at killexams.com by choosing the exam that you want to pass. You need not signup, just add the exam to the cart and go through the payment procedure. Your account will be automatically created and you will receive your login details by email. Killexams.com is the right place to download the latest and up-to-date CVA practice questions that work great in the real CVA test. These CVA questions are carefully collected and included in CVA question bank. You can register at killexams and download the complete question bank. Practice with CVA exam simulator and get Good Marks in the exam.

Where am I able to download CVA updated practice questions?
You can download up-to-date CVA practice questions at Killexams. Killexams recommend these CVA questions to memorize before you go for the real exam because this CVA dumps collection contains to date and 100% valid CVA dumps collection with the new syllabus. Killexams has provided the shortest CVA practice questions for busy people to pass CVA exam without studying massive course books. If you go through these CVA questions, you are more than ready to take the test. We recommend taking your time to study and practice CVA exam practice questions until you are sure that you can answer all the questions that will be asked in the real CVA exam. For a full version of CVA brainpractice questions, visit killexams.com and register to download the complete dumps collection of CVA exam brainpractice questions. These CVA exam questions are taken from real exam sources, that\'s why these CVA exam questions are sufficient to read and pass the exam. Although you can use other sources also for improvement of knowledge like textbooks and other aid material these CVA practice questions are sufficient to pass the exam.

What\\'s the simplest way to pass CVA exam?
The easiest, simplest, and fastest way to pass the CVA exam is to take CVA practice questions from killexams.com and practice over and over. Go to the killexams.com website, register, and download the full CVA exam version with a complete CVA question bank. Memorize all the questions and practice with the exam simulator again and again. You will be ready for the real CVA test within 24 hours.

Is Killexams.com Legit?

Without a doubt, Killexams is fully legit and also fully trusted. There are several benefits that makes killexams.com authentic and respectable. It provides up-to-date and totally valid quiz test made up of real exams questions and answers. Price is surprisingly low as compared to many of the services online. The Q&A are up to date on common basis together with most recent brain dumps. Killexams account structure and supplement delivery is extremely fast. Report downloading can be unlimited and intensely fast. Help support is available via Livechat and Electronic mail. These are the characteristics that makes killexams.com a strong website that supply quiz test with real exams questions.

Other Sources

Which is the best testprep site of 2025?

Discover the ultimate exam preparation solution with Killexams.com, the leading provider of premium practice exam questions designed to help you ace your exam on the first try! Unlike other platforms offering outdated or resold content, Killexams.com delivers reliable, up-to-date, and expertly validated exam Q&A that mirror the real test. Our comprehensive dumps collection is meticulously updated daily to ensure you study the latest course material, boosting both your confidence and knowledge. Get started instantly by downloading PDF exam questions from Killexams.com and prepare efficiently with content trusted by certified professionals. For an enhanced experience, register for our Premium Version and gain instant access to your account with a username and password delivered to your email within 5-10 minutes. Enjoy unlimited access to updated Q&A through your download Account. Elevate your prep with our VCE practice exam Software, which simulates real exam conditions, tracks your progress, and helps you achieve 100% readiness. Sign up today at Killexams.com, take unlimited practice tests, and step confidently into your exam success!

100% Money Back Pass Guarantee

Back to List

Social Profiles

Certified Valuation Analyst (CVA) Practice Test

CVA exam Format | Course Contents | Course Outline | exam Syllabus | exam Objectives

100% Money Back Pass Guarantee

CVA PDF trial Questions

CVA trial Questions

Killexams VCE exam Simulator 3.0.9

Anyone can pass CVA exam with our Premium Questions and Ans and practice questions

Latest 2025 Updated CVA Real exam Questions

Tags

Killexams Review | Reputation | Testimonials | Customer Feedback

CVA Exam

CVA Exam

References

Frequently Asked Questions about Killexams Practice Tests

Is Killexams.com Legit?

Other Sources

Which is the best testprep site of 2025?

Important Links for best testprep material

100% Money Back Pass Guarantee

Social Profiles