NACVA Certified Valuation Analyst (CVA) : CVA exam

CVA
  • Exam Code: CVA
  • Exam Name: Certified Valuation Analyst (CVA)
  • Updated: May 28, 2026
  • Q & A: 251 Questions and Answers

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About NACVA Certified Valuation Analyst (CVA) : CVA Exam Questions

NACVA CVA Exam Syllabus Topics:

TopicDetails
Topic 1
  • Valuation Approaches: This section of the exam measures the skills of a Valuation Consultant and covers the major valuation methodologies, including the income, market, and asset approaches. Candidates must understand how to apply these methods, use appropriate data sources, and reconcile different valuation results to form a final opinion of value.
Topic 2
  • Special Purposes and Circumstances: This section of the exam measures the skills of a Valuation Analyst and explores unique valuation scenarios involving intangible assets, securities, and business elements like stock options and goodwill. It highlights special considerations for transactions, tax compliance, and legal disputes requiring tailored valuation methods.
Topic 3
  • Engagement Acceptance, and Planning: This section of the exam measures the skills of a Business Appraiser and covers the definition and formal acceptance of valuation assignments. It includes evaluating the engagement terms, understanding the entity and interest being valued, handling potential conflicts, and formalizing agreements through engagement letters.
Topic 4
  • Overview: This section of the exam measures skills of a Valuation Analyst and covers the core purposes of business valuation, including financial reporting, tax matters, disputes, and transactions. It also includes understanding different standards and premises of value, such as fair market value or liquidation value, and explains principles like time-based estimation and the impact of risk and control.
Topic 5
  • Cost of Capital Concepts and Methodology, and Other Pricing Models: This section of the exam measures the skills of a Financial Consultant and explains how to determine discount and capitalization rates using models like CAPM, build-up methods, and WACC. It also includes risk-related concepts and techniques such as leveraging and unlevering beta and adjusting risk rates for tax considerations.

Reference: http://www.nacva.com/content.asp?contentid=145

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CVA Certification Path

  • Have a four-year university degree, that is, at least a bachelor's degree, a bachelor's degree or a similar diploma
  • Victoriously express that the applicant satisfies the NACVA experience threshold by completing a unit case study or presenting a real and disinfected fair market value (FMV) assessment address (as defined by decision) 59-60) prepared in the last 12 months for peer review (see alternative experience)
  • Send three personal and three commercial references
  • Currently engaged by a national or state government agency
  • Have the combined equivalent of two years of full-time business valuation (BV) experience. The BV experience requirements must be approved by the applicant's immediate supervisor or the government-funded BV committee
  • Have a minimum of comparable GS-12 score (exceptions will be considered at the written request of a supervisor certifying the qualifications and skills of the candidate to achieve certification)
  • Take a full five-hour multiple-choice exam.
  • Participate in a five-day “optional” training program;

Introduction to CVA Exam

CVA is an expert qualification given by the NACVA to business appraisal professionals with a business degree, with sufficient work experience in business appraisal, presenting references and commercial and personal recommendations. Full members of the NACVA and pass the five-hour multiple-choice CVA exam.

Selected applicants have the right to use the CVA designation with their name, which can improve job opportunities, professional reputation and/or salary. CVA professionals must undergo continuous professional training for 36 to 60 hours every three years.

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