CVA (Mile2 Cybersecurity Certifications) study guide
CVA · Work through your exam, one topic at a time.
The Certified Valuation Analyst (CVA) is a business valuation credential offered by the National Association of Certified Valuators and Analysts (NACVA), an association that trains and certifies financial professionals in business valuation and financial litigation services. NACVA states that its CVA and MAFF designations are the only valuation and financial forensic credentials accredited by the NCCA, and that the CVA is also accredited by ANSI/ANAB. The credential is aimed at professionals who value private businesses and who need to demonstrate valuation competency to clients, the business community, and the courts. NACVA reports over 7,000 members and certificants across business valuation, financial litigation, forensic accounting, and related fields. Topics on this exam: Business Valuation, Financial Forensics and Litigation, and Forensic Accounting. The CVA study guide has 3 sections and about 1,028 words.
01Business Valuation
Business Valuation tests whether you can choose a defensible standard and premise of value, apply the income, market, and asset approaches, normalize financial statements, and support discounts. It is applied economics, but the exam rewards consistency and documentation more than exotic models. Define the standard of value first: fair market value assumes a hypothetical willing buyer and seller, both informed and not compelled; fair value and investment value depend on the legal or client context. Match the premise (going concern vs liquidation) to the purpose.
379 words, about 2 min02Financial Forensics and Litigation
Financial Forensics and Litigation tests the use of financial analysis in disputes: quantifying economic damages, establishing causation, and presenting expert evidence that survives admissibility challenges. The focus is the but-for world, not merely historical losses. Damages must be tied to a legal claim and measured with reasonable certainty; speculative or unsupported projections are excluded. Lost profits equal lost incremental revenue minus avoided costs, adjusted for mitigation and discounted to present value.
329 words, about 2 min03Forensic Accounting
Forensic Accounting tests fraud examination and investigative accounting: recognizing schemes, preserving evidence, tracing transactions, and converting accounting records into defensible findings. It overlaps with auditing but is retrospective and often adversarial. The fraud triangle explains incentive or pressure, opportunity, and rationalization; it is a risk model, not proof of fraud. The ACFE fraud tree groups schemes into asset misappropriation, corruption, and financial statement fraud.
320 words, about 2 min