CVA Study Guide 2026
Everything you need to pass the CVA exam in one place: the exam format, every topic to study, real practice questions with explanations, flashcards, and full-length practice tests. Free, no sign-up needed.
📋 CVA Exam Format at a Glance
📚 CVA Topics to Study (22)
✍️ Sample CVA Questions & Answers
1. When writing a diminished value report, which three components must be separately quantified?
A complete diminished value report quantifies inherent DV (stigma), repair-related DV (imperfect repairs), and claim-related DV (administrative costs of the claim).
2. Which database do CVA appraisers most commonly use to check total loss and title brand history?
CARFAX and AutoCheck compile title brand history, odometer records, and reported accident data from state DMVs and insurance companies.
3. What federal law governs odometer disclosure requirements during vehicle title transfers, including total loss settlements?
The Federal Odometer Act requires accurate odometer disclosure at time of transfer, including total loss title transfers, to prevent odometer fraud.
4. Which vehicle type typically depreciates slower?
Trucks and SUVs typically depreciate slower than sedans or luxury cars due to their strong demand, versatility, and perceived utility. Their robust resale market and ability to serve various purposes often help them retain a higher percentage of their original value over time.
5. What is 'gap coverage' in the context of a total loss vehicle claim?
Gap coverage pays the difference between the vehicle's ACV (what the insurer pays) and the outstanding loan or lease balance if it exceeds ACV.
6. What is the primary reason CVA appraisers must document comparable sales when establishing ACV for a total loss?
Comparable sales documentation provides objective, market-based evidence for the ACV determination, which is essential if the settlement is disputed.