Certified Valuation Analyst (CVA) Exam 2025 – 400 Free Practice Questions to Pass the Exam

An opinion can be expressed on both Conclusion of Value detailed and summary reports because these documents encapsulate the findings and analyses conducted during the valuation process. They are designed to convey a definitive conclusion about the value of an asset or business. The Conclusion of Value reports present the valuation professional's considered judgment, informed by their methodologies and the data assessed.

Detailed reports typically provide an in-depth analysis, presenting the assumptions, methodologies, and factors that led to the final value conclusion. Summary reports, while less comprehensive, still contain enough information to support the expressed opinion. In both cases, the valuation expert articulates their rationale, which is essential for the user of the valuation to understand the basis for the value conclusion provided.

In contrast, documents like Calculated Value documents or executive summaries may not present an opinion in the same formalized way. Calculated value documents often focus more on presenting a numerical figure without extensive explanation or the rationale behind that figure. Executive summaries may also lack the detailed analysis necessary to substantiate an opinion, thus more generally summarizing the content rather than providing a definitive valuation opinion.