NACVA CVA Exam Questions - Real Practice Questions for Guaranteed Success

Question 1

____________ is a specialized classification of intangible and its categories are creative (e.g. copyrights) and innovative (e.g. patents).

AIntellectual properties

BIntellectual capital

CBoth A & B

DIntellectual rights

Correct : A

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AIntellectual properties

BIntellectual capital

CBoth A & B

DIntellectual rights

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Question 2

The cost approach provides a systematic framework for estimating the value of an intangible asset based on the economic principle of:

ASubstitution

BCompetition

CDouble counting

DAsset-based approach

Correct : A

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ASubstitution

BCompetition

CDouble counting

DAsset-based approach

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Question 3

An intangible's deficiencies are considered curable when the prospective economic benefit of enhancing or modifying it exceeds the current cost (in terms of material, labor, and time) to change it. An intangible's deficiencies are considered incurable when:

AThe current costs of enhancing or modifying it (in terms of material, labor and time) can not exceed the expected future economic benefits of improving it

BThe current costs of enhancing or modifying it (in terms of material, labor and time) exceed the expected future economic benefits of improving it

CCost encompasses all of the deficiencies

DReproduction cost exceeds the actual production cost

Correct : B

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AThe current costs of enhancing or modifying it (in terms of material, labor and time) can not exceed the expected future economic benefits of improving it

BThe current costs of enhancing or modifying it (in terms of material, labor and time) exceed the expected future economic benefits of improving it

CCost encompasses all of the deficiencies

DReproduction cost exceeds the actual production cost

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Question 4

Analysts should consider each of the following measure when estimating the remaining useful life of intangible asset EXCEPT:

ARemaining legal (or legal protection) life (e.g., remaining term of trademark protection)

BRemaining contractual life (e.g., remaining term on a lease)

CRemaining copyrighted life (e.g., time period for which copyrights are sold)

DRemaining technological life (e.g., period until the current technology becomes obsolete, for patents, proprietary processes, etc.)

Correct : C

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ARemaining legal (or legal protection) life (e.g., remaining term of trademark protection)

BRemaining contractual life (e.g., remaining term on a lease)

CRemaining copyrighted life (e.g., time period for which copyrights are sold)

DRemaining technological life (e.g., period until the current technology becomes obsolete, for patents, proprietary processes, etc.)

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Question 5

This is sometimes considered the accumulation of all other elements of economic value of business enterprise not specifically with (or allocated to) individual tangible and intangible assts. Its analysis and qualification is an important component in the application of asset accumulation method to a company like Seller. What is this?

ATrademark

BGoodwill

CPatents

DCopyrights

Correct : B

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ATrademark

BGoodwill

CPatents

DCopyrights

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Master NACVA CVA Exam with Reliable Practice Questions

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