Free NACVA CVA Exam Questions

Become NACVA Certified with updated CVA exam questions and correct answers

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Total 253 Questions | Updated On: Jun 15, 2026

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Question 1

Several factors influence __________________, particularly:

1. The proximity of the valuation date to the fiscal year-end

2. The quality of the interim statements

3. The importance of seasonality to the subject company

4. The extent to which information in interim statements is likely to affect the affect the conclusion

A : efulness of interim statements

B : nancial schedules

C : deral tax returns

D : dited statements

Answer: A

Question 2

There is a general consensus among appraisers that there is little or no difference in controlling interest market values between S corporations and C corporations under most circumstances, and that any difference depends on:

A : nding a seller that there may be differences in value at the shareholder level for noncontrolling interests.

B : nding a buyer that there may be differences in value at the shareholder level for noncontrolling interests.

C : nding a dealer that there may be differences in value at the shareholder level for non- controlling interests.

D : nding a broker that there may be differences in value at the shareholder level for non- controlling interests.

Answer: B

Question 3

The analyst should be curious about the proprietary products and services, especially:

A : nefits attributable to brand name, trademarks copyrights or patents

B : vorable supplier contracts

C : unique characteristics that generate a comparative advantage over their competition

D : tangible assets

Answer: C

Question 4

____________ is perhaps the most difficult task for the business appraiser.

A : tting two or more parties with different economic and business expectations to agree on projected future benefits and the risks associated with achieving those projections.

B : entification of partial interest.

C : lection of enterprise value premise.

D : timation of invested capital

Answer: A

Question 5

Which one of the following is/are example/s of normalizing adjustments?

A : equacy of allowance and reserve accounts

B : n-depreciation methods and schedules

C : licies regarding capitalization or expensing of various costs (adjust to industry norms)

D : anges in capital structure

Answer: A,C

Page: 1 / 51

Total 253 Questions | Updated On: Jun 15, 2026

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