NACVA CVA Exam Information and Actual Questions

  • Exam Code/Number: CVA
  • Exam Name/Title: Certified Valuation Analyst (CVA)
  • Certification Provider: NACVA
  • Corresponding Certification: NACVA Certification
  • Exam Questions: 251
  • Updated On: Oct 15, 2026

CVA
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NACVA
CVA Exam
Certified Valuation Analyst (CVA)

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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.

NACVA CVA Exam Overview:

Certification Vendor:National Association of Certified Valuators and Analysts (NACVA)
Exam Name:CVA Certification Examination (Certified Valuation Analyst Exam)
Exam Number:CVA
Passing Score:Varies (typically competency-based / ~70% threshold depending on exam section)
Certificate Validity Period:3 years (renewal required via Continuing Professional Education - CPE)
Real Exam Qty:Varies (includes multiple-choice and case study components)
Exam Format:Open-book (reference materials permitted under NACVA rules), Multiple-choice questions, Case study / written valuation analysis, Proctored exam (online or onsite depending on session)
Exam Price:Varies by membership status and training package (typically USD $1,500–$3,000 range including coursework/exam bundle)
Related Certifications:Accredited in Business Valuation (ABV)
Accredited Senior Appraiser (ASA)
Exam Duration:300 minutes
Available Languages:English
Recommended Training:NACVA CVA Training & Certification Program
Exam Registration:NACVA CVA Program Registration
Sample Questions:NACVA CVA Sample Questions
Exam Way:Proctored exam (online or in-person depending on session availability)
Pre Condition:NACVA membership required; completion of NACVA CVA training program (Fundamentals of Valuation and Case Study Courses) recommended/required before exam eligibility
Official Syllabus URL:https://www.nacva.com

NACVA CVA Exam Syllabus Topics:

TopicDetails
Topic 1
  • 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.
Topic 2
  • Qualitative Analysis: This section of the exam measures skills of a Valuation Analyst and focuses on gathering and evaluating non-quantitative information such as industry data, economic context, company history, and SWOT factors. It covers how qualitative insights shape the understanding of a business’s performance and potential.
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
  • 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 5
  • 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 6
  • Discounts, Premiums, and Other Adjustments: This section of the exam measures the skills of a Business Appraiser and covers how different levels of control and marketability affect value. It includes adjustments for control, transfer restrictions, ownership structure, and empirical studies related to discounts and premiums. Consideration of post-valuation events is also included.

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

CVA Certified Professional Salary

  • India:₹888046
  • United States: $125,000
  • Europe:€11270
  • England: £96039


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