Updated: Jul 24, 2026
No. of Questions: 251 Questions & Answers with Testing Engine
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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.
Reference: http://www.nacva.com/content.asp?contentid=145
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| Certification Vendor: | National Association of Certified Valuators and Analysts (NACVA) |
| Exam Name: | CVA Certification Examination (Certified Valuation Analyst Exam) |
| Exam Number: | CVA |
| Exam Duration: | 300 minutes |
| Exam Price: | Varies by membership status and training package (typically USD $1,500–$3,000 range including coursework/exam bundle) |
| Real Exam Qty: | Varies (includes multiple-choice and case study components) |
| Certificate Validity Period: | 3 years (renewal required via Continuing Professional Education - CPE) |
| Available Languages: | English |
| Related Certifications: | Accredited in Business Valuation (ABV) Accredited Senior Appraiser (ASA) |
| Passing Score: | Varies (typically competency-based / ~70% threshold depending on exam section) |
| Exam Format: | Multiple-choice questions, Case study / written valuation analysis, Open-book (reference materials permitted under NACVA rules), Proctored exam (online or onsite depending on session) |
| 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 |
| Section | Objectives |
|---|---|
| Topic 1: Valuation Reporting | - Business valuation report writing - Documentation and support for valuation conclusions |
| Topic 2: Valuation Fundamentals | - Financial statement analysis - Time value of money and financial mathematics - Economic and industry analysis |
| Topic 3: Professional Standards and Ethics | - NACVA professional standards compliance - Ethical valuation practices |
| Topic 4: Valuation Approaches and Methods | - Market approach (guideline public company, precedent transactions) - Income approach (DCF, capitalization of earnings) - Asset-based approach (adjusted net asset method) |
| Topic 5: Valuation Adjustments | - Discounts and premiums (DLOM, control premiums) - Normalization adjustments |
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