The CVA (Certified Valuation Analyst) exam fee is $625, with total costs of $3,000–$8,000 including training. It requires a 5-hour proctored exam plus a case study, a business degree (or CPA), and relevant valuation experience — and as of 2023, NACVA membership is no longer required to obtain or maintain the CVA.
Last verified: 2026 | Source: NACVA.com — nacva.com/cva
| Fact | Detail |
| Issuing body | NACVA (National Association of Certified Valuators and Analysts) |
| Accreditation | Only valuation credential accredited by both NCCA + ANAB |
| Exam fee | $625 |
| Application fee | $100 |
| Total cost range | $3,000–$8,000 including optional training, materials, and fees |
| Exam format | 5-hour proctored exam + Case Study (take-home BV report) |
| CPA required | No — 4-year business degree accepted |
| NACVA membership | No longer required — policy changed 2023 to comply with NCCA/ANAB standards |
| References | 2 professional + 2 business references |
| Renewal | Tri-annual recertification — CE requirements every 3 years |
Business valuation is the foundation of every business sale. A broker who can produce credible, defensible valuations closes more listings, defends pricing to buyers more effectively, and earns additional income from standalone valuation engagements. The CVA is the most widely recognized and rigorously accredited business valuation credential in the world — the only one accredited by both NCCA and ANAB. Over 10 million US small businesses are expected to change hands in the next decade (per NACVA), making BV expertise a core career asset for any serious business broker.
| Credential | From | CPA required? | Exam fee | Best for |
| CVA | NACVA | No | $625 | Business brokers, M&A advisors, CPAs |
| ABV | AICPA | Yes | ~$400 | CPAs specializing in BV and litigation |
| AVA | NACVA | No | ~$625 | Non-CPAs without accounting background |
No — the CVA accepts a 4-year business degree (management, economics, finance, accounting, marketing, or MBA equivalent) in lieu of a CPA license. Non-CPAs must demonstrate valuation experience through a Case Study submission or a recent fair market value (FMV) report prepared within the last 12 months.
No — NACVA changed its policy in 2023 to comply with NCCA and ANAB accreditation standards. You can obtain and maintain the CVA without being a NACVA member. Non-member CVA holders pay separate annual designee renewal fees and tri-annual recertification fees.
The CVA proctored exam is 5 hours and consists of multiple-choice questions. Candidates must also complete a Case Study — a take-home business valuation report submission. Both must be completed within a 2-month credentialing window (with monthly extensions available for up to 10 months).
Total CVA costs range from $3,000–$8,000, including the $100 application fee, $625 exam fee, optional 5-day BVTC training program (~$2,000–$4,000), and study materials. Large firms (Alvarez & Marsal, Stout) often sponsor employee CVA costs.
Yes — the CVA is explicitly designed for non-CPAs. A broker with a CVA can provide in-house valuation services, charge for standalone valuation engagements, and present defensible pricing to sellers and buyers — directly addressing the most common deal-killing objection in business brokerage.
The CVA elevates your ability to price businesses accurately and defend valuations through a full transaction. Explore our business broker training pathway →