CBV MQE study plan

Map the CBV MQE body of knowledge into a personal outline covering valuation fundamentals, engagement mechanics, and reporting, and rate your current confidence on each area from 1 to 5.

Define and correctly distinguish fair market value, fair value, investment value, and intrinsic value, and explain in writing when each standard applies.

Build a one-page formula sheet for the income, market, and asset-based approaches, including the variables each formula requires.

Complete 25 practice calculations on present value, capitalization rates, and terminal value, and log every error with its root cause.

Explain the valuation engagement life cycle from scope definition through report delivery, listing the decisions made at each stage.

Identify the information a valuator must request from management and describe how missing or unreliable data changes the analysis.

Apply the three approaches to a single hypothetical company and justify in writing which approach deserves the most weight.

Draft a standard scope-of-work and assumptions section for a sample engagement.

Build a normalized income statement from a raw historical dataset by adjusting owner compensation, non-recurring items, and related-party transactions.

Select and defend an appropriate discount rate by comparing build-up and CAPM methods and reconciling the difference.

Calculate a capitalization rate from the discount rate and a defensible long-term growth assumption, and explain the sensitivity of value to that assumption.

Produce a discounted cash flow model with an explicit terminal value and a sensitivity table for the discount rate and growth rate.

Select guideline public companies using documented screening criteria and defend the peer set.

Calculate and apply valuation multiples on a consistent basis, matching enterprise-value numerators with enterprise-level denominators.

Apply control premiums and marketability discounts, and justify each adjustment with a defensible rationale rather than a rule of thumb.

Reconcile the income and market approach results into a single concluded value range.

Prepare an adjusted balance sheet and identify which assets and liabilities require remeasurement to fair market value.

Distinguish asset-based value from going-concern value and explain when the asset-based approach is the primary method.

Value identifiable intangible assets using at least two methods and explain why the results differ.

Reconcile the asset-based result with the income approach and document the reason for the final weighting.

Draft a full valuation report section by section, covering the standard of value, scope, company analysis, and conclusion of value.

Write the assumptions and limiting conditions section so that it accurately bounds the valuator's responsibility.

Identify the most common report deficiencies and audit a sample report against that checklist.

Produce a peer-review memo on another candidate's practice report, identifying at least five substantive issues.

Complete a timed 60-question mixed-topic practice set under exam conditions and record accuracy by topic area.

Diagnose the three weakest topic areas from the practice set and rebuild each from first principles.

Re-solve every missed question without looking at the explanation, then compare your reasoning to the correct method.

Memorize and reproduce the key formulas and standards from memory without reference materials.

Complete two full-length timed mock exams and compare scores to identify any remaining gaps.

Review the error logs from weeks 1 through 7 and confirm each root cause has been resolved.

Rehearse the formula sheet and key definitions until they can be reproduced from memory in under 15 minutes.

Finalize an exam-day plan covering time allocation per question, when to skip and return, and how to handle ambiguous wording.