CEPA CE EXAM PREP 2026 | ALL QUESTIONS AND CORRECT DETAILED ANSWERS | RATED A+ | NEW AND REVISED

1 | Page



CEPA CE EXAM PREP 2026 | ALL QUESTIONS AND
CORRECT DETAILED ANSWERS | RATED A+ | NEW AND
REVISED



1. CEPA Module 5 Question 1: What are the first two major deliverables within Gate 1
of the Value Acceleration Methodology™?: A Business Valuation and Personal, Financial, Business
Assessment
2. CEPA Module 5 Question 2: In what gate would you utilize a business valua- tion?:
Gate 1
3. CEPA Module 5 Question 3: What is a common exit readiness issue?: No personal goals and
objectives
Shareholders/family members aren't on the same page
Credibility of financial information
4. CEPA Module 5 Question 4: Year over year growth in sales and profit would benefit
a company's:: Attractiveness
5. CEPA Module 5 Question 5: A business attractiveness score of 67% is consid- ered::
Above average
6. CEPA Module 5 Question 7: Strong customer loyalty, staff longevity, and
organized financials are all examples of .: Business attractiveness strengths
7. CEPA Module 5 Question 8: Homes, cars, and travel charged through the
business are all examples of .: Discretionary expenses
8. CEPA Module 5 Question 9: The Triggering Event promotes owner action %
of the time.: 70%
9. CEPA Module 5 Question 10: A business's Range of Value (ROV) multiple is
determined by .: The private capital market
10. CEPA Module 6 Question 1: Why would an owner want to have a business
valuation performed on their company?: Divorce
Ownership transfer to family Installing
an ESOP



,2 | Page


11. CEPA Module 6 Question 2: Which of the following is NOT a standard of value when
it comes to business valuation?: Hypothetical value

Investment value
Fair market value
Fair value






,3 | Page




12. CEPA Module 6 Question 3: Which of the following is not one of the three broad
approaches to determining value?: Liquidity

Income
Market
Asset
13. CEPA Module 6 Question 4: In the income approach to business valuation, which
method is predicated on a specific future look at economic benefits?: Dis- counted cash flow
method
14. CEPA Module 6 Question 5: What are the two most common types of trans- actions
during a business sale?: Asset Sale and Stock Sale
15. CEPA Module 6 Question 6: Which Standard of Value can lead to unrealistic seller
expectations?: Emotional Value
16. CEPA Module 6 Question 7: There are three broad approaches to determin- ing
value. The income approach, the market approach, and the approach.-
: Asset approach
17. CEPA Module 6 Question 8: A buyer may consider purchasing a company in
order to enter a new market or obtain new intellectual property.: Strategic buyer
18. CEPA Module 6 Question 9: The complexity of Value Acceleration should be
during the Discovery Gate.: Low
19. CEPA Module 6 Question 10: is the value to a particular investor based on
individual investment requirements and expectations.: Investment Value
20. CEPA Module 7 Question 1: What are some categories to evaluate and compare
to other companies in the marketplace?: Market growth
Equipment condition
Products and sales
21. CEPA Module 7 Question 2: What is the timeframe most private companies can
increase their value and should begin their value growth?: Three to five years
22. CEPA Module 7 Question 3: Which of the following is NOT considered a
strategy for increasing enterprise value?: Conduct a Triggering Event

Increase earnings