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: Apr 19, 2022

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Question 1

A major issue in many fair value cases is:

A : ether or not discounts and/or premiums are applicable

B : ck of control

C : ck of marketability

D : ck of ownership control premiums under certain specific circumstances.

Answer: A

Question 2

_________ is the value to some particular owner or potential owner, is found often in the context of mergers and acquisitions and in family law disputes

A : rketable value

B : ntrol Value

C : vestment value

D : rategic Control value

Answer: C

Question 3

The FASB says that, for ''unobservable inputs,'' the valuation should include market participant assumptions about risk, even if this adjustment is different to determine. Interestingly, it breaks risk into following categories EXCEPT:

A : risk inherent in a particular valuation technique

B : risk inherent in inputs of the valuation technique

C : explicit risk related to a particular valuation technique

D : implicit risk related to a particular valuation technique

Answer: C,D

Question 4

Any Buy-Sell agreement, restrictions, or other similar factor relating to the right to use or sell the property will be ignored for estate gift, and generation skipping tax purposes unless the agreement meets any of the following test EXCLUDING:

A : is a bona fide business arrangement

B : must be a device to transfer the property to the natural objects of the transferor's bounty (such as family members) for less than adequate and full consideration in money or money's worth

C : terms must be comparable to similar arrangements entered into by persons in an arm's length transaction

D : is a key player in Buy-Sell arrangements

Answer: D

Question 5

The sales comparison approach is based on the economic principles of:

A : ficient markets

B : ecial financing and other terms regarding each sales transactions

C : of each property

D : pply and demand

Answer: A,D

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Total 253 Questions | Updated On: Apr 19, 2022

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