NACVA Exam CVA Topic 4 Question 81 Discussion

Actual exam question for NACVA's CVA exam

Question #: 81
Topic #: 4

[All CVA Questions]

When specifying, who is to provide the valuation services, the important distinction is whether the client is retaining the appraisal firm itself or the individual appraiser employed by the firm. The common practice is:

ATo retain the individual appraiser rather than the firm

BTo retain the firm rather than individual appraiser, even though the expert witnesses testify based upon their individual expertise and opinions

CTo retain the individual since the firm is responsible for completing the assignment regardless of impairment the individual's capability to perform the work

DTo retain firm as such practice also tends to provide discontinuity in retention of working papers and related records, marking them accessible if they are needed months or even yearslater as they frequently are

Show Suggested Answer

Suggested Answer: B

by Rikki at Mar 10, 2024, 08:29 AM

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Johnna

2 days ago

But retaining the individual ensures continuity in retention of working papers and related records.

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Yolando

2 days ago

I think B is the correct answer, as it's common practice to retain the firm rather than the individual appraiser. The firm is responsible for the work, even though the experts testify based on their individual expertise.

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Yolande

3 days ago

I disagree, I believe it's better to retain the firm rather than the individual appraiser.

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Johnna

5 days ago

I think the common practice is to retain the individual appraiser rather than the firm.

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