CEPA (Certified Exit Planning Advisor) Prep Exam Questions
and Answers |Fall 2025/2026 Update | 100% Correct Latest
Question 1
What is the Common Sense Scoring Scale used for?
Correct Answer
To analyze a company's attractiveness & readiness
Question 2
What is Structural Capital?
Correct Answer
The most robust of the "Four C's", this includes everything from the real estate, intellectual property, equipment, process
& documentation, IT, systems (including financial & accounting systems), etc.
Page 1 of 99
,Question 3
A father owns his business 100%. He has been married 35 years to the mother of his three children. The oldest child works
in the business. When working with this family enterprise, who is the most important person to keep happy?
a. Dad
b. Mom
c. Children
d. The whole family
Correct Answer
d. The whole family
Question 4
Which of the following is not considered an advantage of Family Limited Partnership?
a) Consolidates the ownership of multiple assets into one entity
b) Can be used as a vehicle to transfer wealth and ownership to younger family members
c) Assets are contributed at Fair Market Value
d) Give away value of company and future appreciation without giving away control
Correct Answer
c) Assets are contributed at Fair Market Value
Question 5
The Triggering Event is delivered in what gate of the Value Acceleration Methodology?
Correct Answer
Discover
Page 2 of 99
,Question 6
Creating action plans is associated with which activity of Relentless Execution?
a) Vision
b) Alignment
c) Accountability
d) All of the above
Correct Answer
b) Alignment
Question 7
What are the pros and cons of Intergenerational Transfer (a.k.a. family succession or family business transfer)?
Correct Answer
Pros:
- business legacy preservation
- planned
- lower cost
- more control
- less disruption
- higher buyer / seller motivation
Cons:
- family dynamics
- lack of funds/illiquid buyers
- lower sale price
- key employee flight risk
- tradition may outstrip good strategy
- path of least resistance - but not always a path to growth or success
Page 3 of 99
, Question 8
What is Human Capital?
Correct Answer
It's the people in the business. Employee tenure, experience / talent level, management team succession plan,
management team strength, etc.
Question 9
What are the two most highly valued gifts made to foundations/trusts/charitable organizations?
a) Mineral rights and farmland
b) Marketable securities and cash
c) Cash and insurance policies
d) Business or business stock and real estate
Correct Answer
d) Business or business stock and real estate
Question 10
In 2016 charitable gifts exceeded what dollar amount?
a) $400 million
b) $350 million
c) $350 billion
d) $500 billion
Correct Answer
c) $350 billion
Page 4 of 99
and Answers |Fall 2025/2026 Update | 100% Correct Latest
Question 1
What is the Common Sense Scoring Scale used for?
Correct Answer
To analyze a company's attractiveness & readiness
Question 2
What is Structural Capital?
Correct Answer
The most robust of the "Four C's", this includes everything from the real estate, intellectual property, equipment, process
& documentation, IT, systems (including financial & accounting systems), etc.
Page 1 of 99
,Question 3
A father owns his business 100%. He has been married 35 years to the mother of his three children. The oldest child works
in the business. When working with this family enterprise, who is the most important person to keep happy?
a. Dad
b. Mom
c. Children
d. The whole family
Correct Answer
d. The whole family
Question 4
Which of the following is not considered an advantage of Family Limited Partnership?
a) Consolidates the ownership of multiple assets into one entity
b) Can be used as a vehicle to transfer wealth and ownership to younger family members
c) Assets are contributed at Fair Market Value
d) Give away value of company and future appreciation without giving away control
Correct Answer
c) Assets are contributed at Fair Market Value
Question 5
The Triggering Event is delivered in what gate of the Value Acceleration Methodology?
Correct Answer
Discover
Page 2 of 99
,Question 6
Creating action plans is associated with which activity of Relentless Execution?
a) Vision
b) Alignment
c) Accountability
d) All of the above
Correct Answer
b) Alignment
Question 7
What are the pros and cons of Intergenerational Transfer (a.k.a. family succession or family business transfer)?
Correct Answer
Pros:
- business legacy preservation
- planned
- lower cost
- more control
- less disruption
- higher buyer / seller motivation
Cons:
- family dynamics
- lack of funds/illiquid buyers
- lower sale price
- key employee flight risk
- tradition may outstrip good strategy
- path of least resistance - but not always a path to growth or success
Page 3 of 99
, Question 8
What is Human Capital?
Correct Answer
It's the people in the business. Employee tenure, experience / talent level, management team succession plan,
management team strength, etc.
Question 9
What are the two most highly valued gifts made to foundations/trusts/charitable organizations?
a) Mineral rights and farmland
b) Marketable securities and cash
c) Cash and insurance policies
d) Business or business stock and real estate
Correct Answer
d) Business or business stock and real estate
Question 10
In 2016 charitable gifts exceeded what dollar amount?
a) $400 million
b) $350 million
c) $350 billion
d) $500 billion
Correct Answer
c) $350 billion
Page 4 of 99
