CERTIFIED EXIT PLANNING ADVISOR
COMPREHENSIVE EXAM STUDY GUIDE
COMPLETE QUESTIONS AND SOLUTIONS
●● According to the Family Firm Institute, what percentage of family
transitions survive into the second generation?
A) 20%
B) 30%
C) 50%
D) 70%
Answer: B) 30%
●● According to EPI's first national State of Owner Readiness Survey,
what percentage of business owners have done no exit planning
at all?
A) 99%
B) 40%
C) 83%
D) 49%
Answer: D) 49%
●● Which of the following is not one of the five Ds?
,A) Distress
B) Decide
C) Divorce
D) Death
Answer: B) Decide
●● Business owners are leaving dollars on the table because they are not
focusing on what?
A) Family unity
B) Sales and income
C) Enterprise value
D) Creating an Exit Plan
Answer: C) Enterprise value
●● The Advisor of the Future needs to get owners and advisors to make
several paradigm shifts for exit planning and value acceleration
to work to the benefit of owners and their families. What is the first
paradigm shift that needs to be made?
A) Focus on enterprise value
B) Adopt a process and work from a common framework
C) Exit planning is good business strategy
D) All of the above
Answer: C) Exit planning is good business strategy
,●● The Value Acceleration Methodology™ is based on a management
philosophy called what?
A) Cognitive theory
B) Master planning
C) Business enterprise
D) Business canvas
Answer: B) Master planning
●● Which of the following is not a gate in the Value Acceleration
Methodology?
A) Prepare
B) Plan
C) Discover
D) Decide
Answer: B) Plan
●● Which of the following is a benefit of focusing on value?
A) Very predictable results
B) Gets employees thinking like owners
C) Mitigates risk
D) All of the above
Answer: D) All of the above
, ●● The "Triggering Event" is delivered in what gate of the Value
Acceleration Methodology?
A) Discover
B) Prepare
C) Decide
D) All of the above
Answer: A) Discover
●● What is the total timeframe it typically takes to move a business
owner through the full Value Acceleration Methodology process?
A) Six months to one year
B) Minimum of one year
C) One to three years
D) 3.5 years or more
Answer: D) 3.5 years or more
●● Personal liability insurance is a supplementary insurance that is not
imperative for business owners to own since most homeowners
and car insurance policies are comprehensive and cover similar
liabilities.
A) True
B) False
COMPREHENSIVE EXAM STUDY GUIDE
COMPLETE QUESTIONS AND SOLUTIONS
●● According to the Family Firm Institute, what percentage of family
transitions survive into the second generation?
A) 20%
B) 30%
C) 50%
D) 70%
Answer: B) 30%
●● According to EPI's first national State of Owner Readiness Survey,
what percentage of business owners have done no exit planning
at all?
A) 99%
B) 40%
C) 83%
D) 49%
Answer: D) 49%
●● Which of the following is not one of the five Ds?
,A) Distress
B) Decide
C) Divorce
D) Death
Answer: B) Decide
●● Business owners are leaving dollars on the table because they are not
focusing on what?
A) Family unity
B) Sales and income
C) Enterprise value
D) Creating an Exit Plan
Answer: C) Enterprise value
●● The Advisor of the Future needs to get owners and advisors to make
several paradigm shifts for exit planning and value acceleration
to work to the benefit of owners and their families. What is the first
paradigm shift that needs to be made?
A) Focus on enterprise value
B) Adopt a process and work from a common framework
C) Exit planning is good business strategy
D) All of the above
Answer: C) Exit planning is good business strategy
,●● The Value Acceleration Methodology™ is based on a management
philosophy called what?
A) Cognitive theory
B) Master planning
C) Business enterprise
D) Business canvas
Answer: B) Master planning
●● Which of the following is not a gate in the Value Acceleration
Methodology?
A) Prepare
B) Plan
C) Discover
D) Decide
Answer: B) Plan
●● Which of the following is a benefit of focusing on value?
A) Very predictable results
B) Gets employees thinking like owners
C) Mitigates risk
D) All of the above
Answer: D) All of the above
, ●● The "Triggering Event" is delivered in what gate of the Value
Acceleration Methodology?
A) Discover
B) Prepare
C) Decide
D) All of the above
Answer: A) Discover
●● What is the total timeframe it typically takes to move a business
owner through the full Value Acceleration Methodology process?
A) Six months to one year
B) Minimum of one year
C) One to three years
D) 3.5 years or more
Answer: D) 3.5 years or more
●● Personal liability insurance is a supplementary insurance that is not
imperative for business owners to own since most homeowners
and car insurance policies are comprehensive and cover similar
liabilities.
A) True
B) False
