CVA study guide
CVA · Work through your exam, one topic at a time.
The Certified Valuation Analyst (CVA) is a professional credential offered by the National Association of Certified Valuators and Analysts (NACVA). NACVA describes the CVA as one of only two valuation and financial forensic credentials accredited by the National Commission for Certifying Agencies (NCCA), the accreditation body of the Institute for Credentialing Excellence (ICE); the CVA is also accredited by the ANSI National Accreditation Board (ANAB). The designation is aimed at financial professionals who perform business valuation work and who want to demonstrate competency to clients, the business community, and the courts. NACVA frames its professional education as drawn from real-world application with judicial, legislative, and financial regulatory precedence, delivering ready-to-use tools and techniques. The CVA study guide has 4 sections and about 1,705 words.
01Business Valuation
The Business Valuation domain tests whether you can choose among the income, market, and asset approaches, apply the correct standard of value on a stated valuation date, and bridge the result from enterprise value to equity value. Expect questions on normalization, discount and capitalization rates, and the level of value.
471 words, about 2 min02Financial Litigation
The Financial Litigation domain tests your ability to quantify economic damages, apply admissibility standards for expert testimony, and connect a defendant's conduct to a plaintiff's loss. Questions often require you to choose between lost profits and lost business value, and to defend every assumption.
420 words, about 2 min03Forensic Accounting
The Forensic Accounting domain tests how you detect, document, and quantify financial fraud and misstatement. Expect questions on asset misappropriation schemes, financial statement fraud, analytical procedures, and the net worth method for proving unreported income.
394 words, about 2 min04Financial Consulting
The Financial Consulting domain tests advisory work rather than formal appraisal: mergers and acquisitions, due diligence, buy-sell agreements, fairness and solvency opinions, and value enhancement. The key distinction is that consulting conclusions may use buyer-specific standards, while a fair market value appraisal may not.
420 words, about 2 min