VI study materials
VI study resources

VI case studies

VI · Put your knowledge to work in context.

The VI (Valuation Analyst) credential is aimed at professionals who assess the worth of businesses, intangible assets, and tangible or financial holdings, and who need to defend those conclusions in reports, transactions, and review settings. Candidates typically come from corporate finance, audit and assurance, investment research, private practice advisory, or in-house strategy teams. The exam is multiple choice and is organized around five weighted domains: valuation principles and professional standards (20%), financial reporting and accounting concepts (20%), valuation approaches and methods (25%), valuation of businesses and intangible assets (20%), and valuation of tangible and financial assets (15%). The weighting signals where to spend effort: methods and standards together carry nearly half the marks, so mechanics alone will not carry a candidate who is shaky on ethics, scope, and reporting. The VI case studies are 5 cases and about 2,690 words.

1

The Contaminated Comparable Set

A valuation analyst is preparing a fair value measurement of a minority (10%) non-controlling equity interest in a privately held specialty-chemicals manufacturer. Management has supplied a list of 8 'comparable' acquisitions from the last four years.

533 words, about 3 min
2

Revenue Recognized Too Soon

A software company signs a three-year contract for 1,200,000, billed annually in advance at 400,000. The contract bundles a perpetual license, two years of unspecified upgrades, and a hosted support service.

589 words, about 3 min
3

The DCF That Cannot Be Reconciled

An analyst builds a five-year DCF for a manufacturer. Free cash flow to the firm is discounted at a WACC of 11.0%.

549 words, about 3 min
4

Customer Relationship or Goodwill?

An acquirer buys a services firm for 50M. Identifiable net assets at fair value (working capital, PP&E, assembled workforce excluded) total 20M.

514 words, about 3 min
5

The Bond That Doesn't Trade

A fund holds a $10M face-value corporate bond, 6% coupon, 4 years remaining, rated BBB. It last traded 14 months ago at 98.

505 words, about 3 min