Where should I prefer pass-by-reference or pass-by-value?

As others already have replied to your question sufficiently well, I would like to add an important point:

If the class does not have public copy-constructor, then you don't have choice to pass by value; you have to pass by reference (or you can pass pointer).

The following program would not compile:

class A
{
public:
     A(){}
private:
     A(const A&) {}
};

//source of error : pass by value
void f(A ) {}

int main() {
        A a;
        f(a);
    return 0;
}

Error:

prog.cpp: In function ‘int main()’:
prog.cpp:10: error: ‘A::A(const A&)’ is private
prog.cpp:18: error: within this context
prog.cpp:18: error: initializing argument 1 of ‘void f(A)’

See yourself at ideone : http://www.ideone.com/b2WLi

But once you make function f pass by reference, then it compiles fine : http://www.ideone.com/i6XXB

There are four main cases where you should use pass-by-reference over pass-by-value:

1. If you are calling a function that needs to modify its arguments, use pass-by-reference or pass-by-pointer. Otherwise, you’ll get a copy of the argument.
2. If you're calling a function that needs to take a large object as a parameter, pass it by const reference to avoid making an unnecessary copy of that object and taking a large efficiency hit.
3. If you're writing a copy or move constructor which by definition must take a reference, use pass by reference.
4. If you're writing a function that wants to operate on a polymorphic class, use pass by reference or pass by pointer to avoid slicing.

There are several considerations, including:

Performance

Passing by value copies the data, so passing large data structures by value can inhibit performance. Passing by reference passes only a reference (basically the address) to the data. For large data structures, this can greatly improve performance. For smaller data structures (like an int), passing by reference can inhibit performance.

Modifications

Passing by value copies the data so if the target code modifies that copy, it will not affect the original. Passing by reference passes only the address of the data, so modifications made against that reference will be "visible" to the calling code.

Yes.

Pass by value for things like native types that are small enough that passing them directly is efficient. Otherwise use pass by (const) reference.

The hard part is writing a template that could apply to either (in which case, you usually want to use pass by reference -- the potential penalty for passing a large object by value is much worse than the potential penalty for passing by reference when passing by value would have been preferred).

Edit: this, of course, is assuming a situation where the required semantics would allow either one -- obviously if you're working with something like polymorphic objects, there's no real "preference" involved, because you must use a pointer or reference to get correct behavior.