Practice CVA Exam Online

Question 1

The most frequently encountered reasons for needing to value debt securities are the following EXCEPT:

A : Purchase or sale for cash

B : Exchange of equity for debt, or vice versa

C : Allocating total enterprise value among classes of securities in a leverages buyout, recapitalization (including)

D : Adjusting an equity statement owned or owed

Answer: D

Question 2

The discount rate is a market-driven rate. It represents the expected yield rate-or rate of return-necessary to induce:

A : Investors to commit available funds to the subject investment, given its level of risk

B : Yield rate

C : Dividends

D : Investment yield

Answer: A

Question 3

Discounts for contingent liabilities can cover a wide range of spectrum, such as:

A : Environmental liabilities

B : Pending lawsuits

C : Liability for controlling ownership interest

D : Both A and B

Answer: D

Question 4

A series of small stock premium studies have been developed by Roger Grabowski and David King. They use eight different measures of size for two major groups (Equity size and Company size). Which of the following is/are measure/s of company size?

A : Market value of common equity

B : Book value of common equity

C : Market value of invested capital

D : Number of employees

Answer: C,D

Question 5

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 : Usefulness of interim statements

B : Financial schedules

C : Federal tax returns

D : Audited statements

Answer: A

Name:	Certified Valuation Analyst (CVA)
Exam Code:	CVA
Certification:	Certified Valuation Analysts
Vendor:	NACVA
Total Questions:	253
Last Updated:	Sep 03, 2026

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