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Reference: http://www.nacva.com/content.asp?contentid=145
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NACVA CVA Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Professional Standards, Ethics, and Reporting | 7% | - NACVA Code of Ethics and professional standards - Valuation report requirements and compliance |
| Topic 2: Adjustments, Discounts, and Premiums | 8% | - Marketability and liquidity discounts - Control premiums and minority interest discounts |
| Topic 3: Income Approach to Valuation | 30% | - Capitalization and discounting methods - Cash flow estimation and risk assessment - Terminal value and growth assumptions |
| Topic 4: Market Approach to Valuation | 25% | - Valuation multiples and comparability adjustments - Merger and acquisition transaction method - Guideline public company method |
| Topic 5: Asset-Based / Cost Approach | 15% | - Net asset value calculation - Excess earnings method - Tangible and intangible asset valuation |
| Topic 6: Foundations of Business Valuation | 15% | - Financial statement analysis and normalization - Economic and industry analysis - Valuation standards, definitions, and premises of value |
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