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Certified Valuation Analyst (CVA)
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The comparative sales method
A and C
Which of the following attribute should be there for an intangible asset to exist from an economic perspective?
It should be subject to legal existence and protection
It should be subject to specific identification and recognizable description
It should be subject to right of private ownership
All of these
Which of the following is NOT a common category of intangible assets?
Technology-related
Human-capital-related
Location-related
Data warehousing-related
is a specialized classification of intangible and its categories are creative
(e.g. copyrights) and innovative (e.g. patents).
Intellectual properties
Intellectual capital
Both A & B
Intellectual rights
The cost approach provides a systematic framework for estimating the value of an
intangible asset based on the economic principle of:
Substitution
Competition
Double counting
Asset-based approach
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:
A. The 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
B .The current costs of enhancing or modifying it (in terms of material, labor and time) exceed the expected future economic benefits of improving it
Cost encompasses all of the deficiencies
Reproduction cost exceeds the actual production cost
Analysts should consider each of the following measure when estimating the remaining useful life of intangible asset EXCEPT:
Remaining legal (or legal protection) life (e.g., remaining term of trademark protection)
Remaining contractual life (e.g., remaining term on a lease)
Remaining copyrighted life (e.g., time period for which copyrights are sold)
Remaining technological life (e.g., period until the current technology becomes
obsolete, for patents, proprietary processes, etc.)
Because of the advanced features (protected by the several patents), Seller management
estimates that:
Seller sells more widgets than it otherwise would
Seller has a greater market share than it otherwise would
Seller’s average selling price per unit is higher than its competitors’ prices
Seller has short-term supply contract supply contract with the key supplier
The analyst used
to quantify the value of intangible assets. The analyst
estimated the current cost required for the company to recreate its current level of
customer awareness, brand recognition and consumer loyalty.
Asset accumulation method
Income approach
Recreation cost method
Valuing intangibles method
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?
Trademark
Goodwill
Patents
Copyrights
Asset accumulation method can quickly quantify the effects on business value of many
common seller structural considerations, such as:
What if the seller retains the company’s cash on hand or accounts receivables?
What if seller does not retain (or leases back to the company) the operating real estate
facilities?
What if seller sells the title of the patents or to some other intangible asset owned by
the company?
What if seller does not legally retain any or all of the debt instruments?
Which of the following is the primary disadvantage of the asset accumulation method?
If taken to an extreme, it can be very expensive and time consuming
It may necessitate the involvement o appraisal specialists in several asset valuation
disciplines
The valuation requires the valuation of all the company assets
The value of all assets, properties, or business interests depends on their economic income-generating capacity
A general category of taxable events relates to the amount of recognition of income (if any) associated with economic benefits received by a business. Examples of this category of taxable events include all of the following EXCEPT:
The valuation of property received, such as rents
The valuation (or the solvency/insolvency test) related to the recognition (or non-
recognition)
A valuation that is needed when a business (whether the business is a proprietorship,
corporation or partnership)
A valuation when a tax payer claims a deduction
There are some allowable methods for determining the basis of property received in exchange for other property. Which of the following is/are out those methods?
Income basis of tax on the property
If a taxpayer receives property for services, then the original basis of the property when it is received is its original price
The basis is the fair market value of the property exchanged for it, increased by any payments made or decreased by any payments received, when the two properties are of
unequal value
The basis is the fair market value of the property when its is received
Various transactional and taxation events may occur that change the taxpayer’s original basis in the property. These events usually _the original basis.
Increase
Decrease
Increase or decrease
It depends
No deduction is allowed for any charitable contribution of or more unless the
taxpayer substantiates the contribution by a contemporaneous written acknowledge from the donee organization of the contribution.
A. $300 B. $400 C. $350
D. $250
The IRC limits an individual taxpayer’s charitable deduction each year to a percentage of
adjusted gross income, depending on:
The value of gift
The type of gift
The fair market price of gift
Valuation advisories
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