NACVA AVA Exam
NACVA Accredited Valuation Analyst Exam (Page 9 )

Updated On: 7-Feb-2026

The same general processes and decision criteria apply to both (1) deciding on whether or not to rely on any particular valuation multiple at all and (2) deciding on the relative weight to be accorded each valuation multiple ultimately used in reaching the opinion of value. A study of the transactional data may lead to greater of lesser reliance on certain valuation multiples than one might have expected prior to compiling the data. All of the following are considered in impact of guideline transactional data evaluation EXCEPT:

  1. Number of data points available
  2. Comparability of data measurement
  3. Comparability of data patterns
  4. Apparent business reliance

Answer(s): D



Control shares are normally more valuable than minority shares because they contain a bundle of rights that minority shares do not enjoy. Below is a list of some of the rights. Which of the following is NOT out of such rights?

  1. Appoint or change operational management
  2. Determine management compensation and prerequisites
  3. Set operational and strategic policy and change the course of business
  4. Negotiate and consummate goodwill

Answer(s): D



Below is a partial listing of possible scenarios in___________.
-100 % control
- More than a majority or supermajority, but less than 100%
- More than 50% but less than a supermajority, where state statutes or articles of incorporation require a supermajority
- 50 %
- Less than 50 % but “effective control”
-Minority shares that control by voting block

  1. Control spectrum
  2. Control or lack of control spectrum
  3. Discount for lack of control or minority discounts
  4. B & C both are the same

Answer(s): D



Which of the following best suits in replacement to question marks from left to right respectively?

  1. Control value, strategic control value
  2. Enterprise value, control value
  3. Strategic value, Enterprise value
  4. Tangible value, Intangible value

Answer(s): A



___________ 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.

  1. Marketable value
  2. Control Value
  3. Investment value
  4. Strategic Control value

Answer(s): C






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