CEPA
Cepa (Certified Exit Planning Advisor) Exam Prep 2026
Questions With 100% Correct Answers
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, CEPA (Certified Exit Planning Advisor) Exam Prep
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- with 100% verified solutions 2026-2027
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What is the calculation for Recasted EBITDA?
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q Addbacks + EBITDA = Recasted EBITDA
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What does EBITDA stand for?
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Earnings Before Interest, Taxes, Depreciation, & Amortization
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What are the three gaps within the Value Acceleration Methodology?
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q Wealth Gap, Value Gap, & Profit Gap
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What are the Five Stages of Value Maturity in order?
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q Identify, Protect, Build, Harvest, Manage
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In the Five Stages of Value Maturity, what occurs in the "Identify" stage?
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Identify and asses the business value. Understand how ready and
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qattractive the business is. What is the current value? What is it's potential
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qvalue? What are the gaps?
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What are considered the "Value Creation" stages within the Five Stages of
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qValue Maturity? q
Protect Value and Build Value
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In the Five Stages of Value Maturity, what occurs in the "Protect" stage?
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Protect what you have because "build" means more risk. Make sure the
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right systems are in place: the right financial advisor, right financial plan,
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documented standard operating procedures within the business,
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,insurance, etc. Protect always comes before Build. Non-strategic actions
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qare ALWAYS before strategic actions.
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In the Five Stages of Value Maturity, what occurs in the "Build" stage?
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qThis is made up of strategic actions including culture building,
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communication building, personnel changes, new products/improvements, q q q q q
etc.
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In the Five Stages of Value Maturity, what occurs in the "Harvest"
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q stage? This is when the owner exits the company and harvests its
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q value
Simply put, what is exit planning?
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q Good Business strategy
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What are the Four intangible Capitals or "Four C's"?
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Human Capital, Structural Capital, Customer Capital, & Social Capital
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How much of a business' value (in percentage) is trapped inside the four
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intangible capitals or "Four C's"?
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80%
What is Human Capital?
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It's the people in the business. Employee tenure, experience / talent level,
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qmanagement team succession plan, management team strength, etc. q q q q q q q
What is Structural Capital?
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The most robust of the "Four C's", this includes everything from the real
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qestate, intellectual property, equipment, process & documentation, IT,
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systems (including financial & accounting systems), etc.
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, What is Customer Captial?
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Depth of customer relationships, customer entanglement, customer
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qconcentration / diversification, contracts, etc. q q q q
What is Social Capital?
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Culture within & outside the company. How people relate outside of the
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company. This is developed over time after all other intangible capitals are
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established/improved.
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What are the three gates (in order) of the Value Acceleration
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Methodology?
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Discover, Prepare, & Decide q q q
What are the Three Legs of the Stool?
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q Business, Financial, & Personal q q q
What is the Wealth Gap?
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Understanding the owner's wealth goal (how much money they'll needq q q q q q q q q
to fulfill personal needs) and the current value of their assets (not
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including their business). The gap or difference between these two is
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usually filled by the business' value.
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What is the Value Gap?
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The difference between the owner's current business value and the
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Best-In-Class business value.
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What is the Profit Gap?
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The difference between the owner's current business profit (or recasted
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EBITDA) and the Best-In-Class business profit (or recasted EBITDA)
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Cepa (Certified Exit Planning Advisor) Exam Prep 2026
Questions With 100% Correct Answers
Gradegurus
➢
➢
➢
, CEPA (Certified Exit Planning Advisor) Exam Prep
q q q q q q
- with 100% verified solutions 2026-2027
q q q q q q
What is the calculation for Recasted EBITDA?
q q q q q q
q Addbacks + EBITDA = Recasted EBITDA
q q q q q
What does EBITDA stand for?
q q q q
Earnings Before Interest, Taxes, Depreciation, & Amortization
q q q q q q
What are the three gaps within the Value Acceleration Methodology?
q q q q q q q q q
q Wealth Gap, Value Gap, & Profit Gap
q q q q q q
What are the Five Stages of Value Maturity in order?
q q q q q q q q q
q Identify, Protect, Build, Harvest, Manage
q q q q
In the Five Stages of Value Maturity, what occurs in the "Identify" stage?
q q q q q q q q q q q q
Identify and asses the business value. Understand how ready and
q q q q q q q q q
qattractive the business is. What is the current value? What is it's potential
q q q q q q q q q q q q
qvalue? What are the gaps?
q q q q
What are considered the "Value Creation" stages within the Five Stages of
q q q q q q q q q q q
qValue Maturity? q
Protect Value and Build Value
q q q q
In the Five Stages of Value Maturity, what occurs in the "Protect" stage?
q q q q q q q q q q q q
Protect what you have because "build" means more risk. Make sure the
q q q q q q q q q q q
right systems are in place: the right financial advisor, right financial plan,
q q q q q q q q q q q q
documented standard operating procedures within the business,
q q q q q q q
,insurance, etc. Protect always comes before Build. Non-strategic actions
q q q q q q q q
qare ALWAYS before strategic actions.
q q q q
In the Five Stages of Value Maturity, what occurs in the "Build" stage?
q q q q q q q q q q q q
qThis is made up of strategic actions including culture building,
q q q q q q q q q
communication building, personnel changes, new products/improvements, q q q q q
etc.
q
In the Five Stages of Value Maturity, what occurs in the "Harvest"
q q q q q q q q q q q
q stage? This is when the owner exits the company and harvests its
q q q q q q q q q q q
q value
Simply put, what is exit planning?
q q q q q
q Good Business strategy
q q
What are the Four intangible Capitals or "Four C's"?
q q q q q q q q
Human Capital, Structural Capital, Customer Capital, & Social Capital
q q q q q q q q
How much of a business' value (in percentage) is trapped inside the four
q q q q q q q q q q q q
intangible capitals or "Four C's"?
q q q q q
80%
What is Human Capital?
q q q
It's the people in the business. Employee tenure, experience / talent level,
q q q q q q q q q q q
qmanagement team succession plan, management team strength, etc. q q q q q q q
What is Structural Capital?
q q q
The most robust of the "Four C's", this includes everything from the real
q q q q q q q q q q q q
qestate, intellectual property, equipment, process & documentation, IT,
q q q q q q q
systems (including financial & accounting systems), etc.
q q q q q q q
, What is Customer Captial?
q q q
Depth of customer relationships, customer entanglement, customer
q q q q q q
qconcentration / diversification, contracts, etc. q q q q
What is Social Capital?
q q q
Culture within & outside the company. How people relate outside of the
q q q q q q q q q q q
company. This is developed over time after all other intangible capitals are
q q q q q q q q q q q q
established/improved.
q
What are the three gates (in order) of the Value Acceleration
q q q q q q q q q q
Methodology?
q
Discover, Prepare, & Decide q q q
What are the Three Legs of the Stool?
q q q q q q q
q Business, Financial, & Personal q q q
What is the Wealth Gap?
q q q q
Understanding the owner's wealth goal (how much money they'll needq q q q q q q q q
to fulfill personal needs) and the current value of their assets (not
q q q q q q q q q q q q
including their business). The gap or difference between these two is
q q q q q q q q q q q
usually filled by the business' value.
q q q q q q
What is the Value Gap?
q q q q
The difference between the owner's current business value and the
q q q q q q q q q
Best-In-Class business value.
q q q
What is the Profit Gap?
q q q q
The difference between the owner's current business profit (or recasted
q q q q q q q q q
EBITDA) and the Best-In-Class business profit (or recasted EBITDA)
q q q q q q q q q
