Certified Valuation Analyst (CVA)

Benefits of CVA

Navigate the comprehensive process of business valuation with precision, encompassing every crucial step from initiation to conclusion.

Select a fitting valuation method from a range of approaches, aligning with the designated purpose and standard of value for each unique valuation assignment.

Perform a meticulous financial analysis tailored to the subject company, ensuring relevance and appropriateness for the specific nuances of the valuation engagement.

Discern the foundational elements of the business valuation analysis, illuminating the key value drivers that underpin the assessed value of a subject company.

Demonstrate proficiency in distinguishing between diverse standards of value for businesses, and adeptly apply their nuanced intricacies in the context of a business valuation engagement.

Participants develop professionally strong communication skills necessary for effectively conveying complex valuation concepts and findings to clients, stakeholders, and other relevant parties, facilitating clearer understanding and informed decision-making throughout the valuation process.

CVA Handbook

The CVA Handbook is a concise guide that provides essential information for candidates seeking the Certified Valuation Analyst designation.

Know More

Core Body of Knowledge

The Core Body of Knowledge for the Certified Valuation Analyst (CVA) credentialing program outlines the essential concepts, principles, and methodologies that candidates must master to prepare for their certification examination in business valuation. It covers key areas such as valuation approaches and methods, financial analysis, valuation theory, standards and guidelines, legal and regulatory environment, and ethics and professional conduct.

Know More

FAQ’s

Where are the questions for the proctored exam taken from?
The bulk of the questions come from the general membership. Periodically, NACVA contracts experienced valuers to generate questions from specific resources. Questions also come from ‘The Value Examiner’ authors. Once NACVA receives the questions, three contracted exam Q&A consultants and a team of 20+ subject matter experts review them thoroughly. The questions are then sent to the Valuation Credentialing Board (VCB) for approval and potential inclusion into the exam database.
Who decides the questions in the proctored exam?
The Valuation Credentialing Board makes that decision with psychometric input on question validity.
Is everything that is asked in the exam taught by the instructors during the live classroom session?
The examination tests the candidate’s knowledge of the general field of valuation and the Body of Knowledge. It is impossible for the instructors to address every nuance of valuation theory and practice in class. This is why NACVA’s texts provide recommended reading and the appendices a valuer needs to be familiar with.
What is the significance of NACVA’s Body of Knowledge?
NACVA’s Body of Knowledge had its beginnings in 1998. Over the years, the resource has evolved through consistent modification and additions. By 2003, the document contained an outline of concepts as well as the time to be spent on each topic. The Valuation Credentialing Board also decided on what percentage of the proctored exam should be given to a topic. In September 2004, after a lot of deliberation, the VCB finalized the document as NACVA’s Body of Knowledge. Since then, it is updated every five years.
Why is it mandatory to meet the experiential threshold? Isn’t it enough to pass the exam?
The proctored exam tests the candidate’s theoretical knowledge on the various aspects of valuation. However, it takes both knowledge and its application to become a successful valuator. This is why it is important to meet the experience threshold.
Why does NACVA use a standard case study for the experiential threshold requirement?
When all candidates perform a valuation using the same set of facts, the peer review team can easily judge whether or not the candidate can apply the Book of Knowledge. However, NACVA also allows experienced valuers to submit an actual valuation report prepared for a client.
Will the experience/exam requirement change in the near future?
The next major review of the proctored exam will be in 2022, and every five years thereafter.
What is the process the VCB uses to modify the proctored exam?
Psychometric option analysis is performed periodically using historical data. This analysis, which identifies answer patterns in the examination, is used by the VCB to review each question and make further decisions.
What is the passing score and who decides it?
To decide on the passing score, the VCB uses a psychometric analysis based on expert judgments about the questions called a cut score study. The passing score is placed within three standard errors of measurement of the mean. This allows the VCB a degree of latitude in setting its passing score within that range. The cut score analysis is done periodically to update the passing score.
Who is an SME?
SME is a Subject Matter Expert. NACVA currently identifies its SMEs as credentialed practitioners with five or more years of active experience in valuing closely held businesses. ‘Active’ equates to about 10-15 valuations per year.
Why does NACVA charge me another fee when I want specific information on how I performed on the case study?
The fee is used to offset copy costs, shipping costs, etc., to forward your case to a mentor for peer review. The bulk of the fee is mainly to compensate the mentor for his/her time spent with you.
What is Tri-Annual Recertification?
The recertification program ensures that CVA holders continue to keep enhancing their knowledge and stay updated on the progress of the industry. The program consists of a 60-points continuing Professional Education (CPE) system whereby candidates must obtain 60 points in 3 years to get recertified. One hour of Continuing Professional Education (CPE) equals one point.

CVA holders can get additional points by attending online/live classroom programs that NACVA and ACVA consider as important in staying well-rounded and updated. The member is awarded points for contributions to industry knowledge and for meeting certain criteria.

Applicable CPE

CPE earned from programs in your reporting cycle including business valuation, financial litigation/financial forensics, forensic accounting, financial statement analysis, gift, and estate planning, professional standards, exit planning, accounting, economics, tax, audit, M&A, fraud, transaction advisory services, healthcare valuation, and ethics qualify towards recertification.

Reporting Cycle

All CVA holders must comply with tri-annual recertification by December 31 of their reporting cycle. For example, if the designee was certified in July 2017, the recertification cycle begins on January 1, 2018, with compliance due by December 31, 2020. CPE must be earned in 2018, 2019, and/or 2020.

CPE Attestation

CVA credential holders only need to attest to having completed 60 hours of “Applicable” CPE credits to comply with tri-annual recertification and pay the applicable recertification fee.

Who provides the CVA certification?
NACVA, being the authorized and core body, provides the certification to all its international chapters.
Will a member of ACVA be considered a member of NACVA too? Will the ACVA member enjoy the same privileges as a NACVA member?
ACVA members will have access to similar benefits as NACVA members. The CVA credential is issued through NACVA. GACVA members also receive discounts to many of our webinars, courses, and other events.
How long does it usually take to get the CVA exam and the case study results? If a candidate passes the exam as well as the case study, when can he expect to receive the certificate from NACVA?
The results of the proctored exam are shared within two weeks. The candidate gets 60 days to complete and submit the case study, starting from the date of appearing for the proctored exam. The results of the case study are shared within two to four months. Upon clearing both the proctored exam and the case study, the CVA certificate is generated and shipped to the chapter as soon as possible.
How are the study materials provided to the members?
The study material is provided to its members through the Learning Management System (LMS).