CVA Certified Valuation Analyst (NACVA) Practice Test
Build your confidence for CVA Certified Valuation Analyst (NACVA). Practice the concepts, understand the answers, and strengthen your knowledge one question at a time.
Try a sample questionExam overview and details
NACVA business valuation certification for CPAs covering business enterprise valuation, equity valuation, and intangible asset assessment methodology. Administered by National Association of Certified Valuators and Analysts. Key domains include VALUATION APPROACHES, COST OF CAPITAL CONCEPTS AND METHODOLOGY, AND OTHER PRICING MODELS, QUANTITATIVE ANALYSIS and DISCOUNTS, PREMIUMS, AND OTHER ADJUSTMENTS.
Sample Questions
Choose an answer and explore the explanation to see how practice works.
A debt instrument carries a below-market coupon and deteriorated credit. How should fair value be estimated?
A company reports above-market rent paid to an entity owned by the controlling shareholder. For valuation, what is the best normalization adjustment?
A distributor's normalized after-tax cash flow is $1.2 million. Long-term growth is supportable at 3% and the discount rate is 18%. In a capitalization of earnings method, what value indication is most appropriate before nonoperating assets?
A 5% shareholder has the decisive vote between two 47.5% blocks. What valuation adjustment might be warranted?
A minority owner can block a sale under the operating agreement. How should that affect the analysis?
Exam insights and study advice
In the real world, business valuations are critical for transactions (M&A, sales), litigation support (divorce, shareholder disputes), tax compliance (estate and gift taxes), and strategic planning. An inaccurate or poorly supported valuation can lead to failed deals, costly legal challenges, or regulatory penalties. The CVA exam ensures practitioners possess the rigorous, standardized knowledge required to produce valuations that withstand scrutiny from courts, the IRS, investors, and other stakeholders, directly impacting financial outcomes and professional reputation.
What this exam covers
Use the published domain weights to plan your study. Practice results do not predict your certification exam score.
01VALUATION APPROACHES
This domain covers asset-based, market, and income valuation approaches and analytical methods which constitute the largest weighted portion of the entire certification examination content for all participating candidates.
02COST OF CAPITAL CONCEPTS AND METHODOLOGY, AND OTHER PRICING MODELS
This domain explores complex cost of capital concepts, computational methodologies, and alternative pricing models required to determine appropriate discount rates for business valuation assignments and financial calculations accurately.
03QUANTITATIVE ANALYSIS
This domain strongly emphasizes quantitative analysis methods, complex financial statement adjustments, and earning capacity evaluations vital for reliable business valuation determinations across diverse operational environments and business structures.
04DISCOUNTS, PREMIUMS, AND OTHER ADJUSTMENTS
This specific domain examines discounts, premiums, and other necessary adjustments for non-controlling ownership interests and lack of marketability within private company valuation reports prepared for various financial advisory clients.
05QUALITATIVE ANALYSIS
This domain deals with qualitative analysis techniques used to accurately assess business history, competitive industry environments, and broader economic outlook conditions impacting subject companies during all stages of valuations.
06SPECIAL PURPOSE VALUATION
This domain addresses unique special purpose valuation topics and alternative applications that fall outside standard ongoing business valuation operating engagements and standard reporting formats currently utilized by practitioners.
07PROFESSIONAL RESPONSIBILITIES AND STANDARDS
This specific domain focuses heavily on professional responsibilities, strict ethics, and various regulatory standards governing valuation practitioners throughout all phases of their daily business engagements and reporting duties as outlined by the organization.
08OVERVIEW
This domain carefully covers overview principles and introductory framework concepts that are fundamentally required for valuation analysts entering the profession and beginning their practice within the financial industry environment successfully.
09ENGAGEMENT ACCEPTANCE AND PLANNING
This domain carefully addresses engagement acceptance procedures, detailed scoping requirements, and effective planning processes necessary for managing client projects successfully from initial initiation through final delivery of reports.