CEPA (Certified Exit Planning Advisor) UPDATED Exam Questions and CORRECT Answers

CEPA (Certified Exit Planning Advisor) UPDATED Exam Questions and CORRECT Answers What survey indicated that 99% of business owners at least in some way agreed that "having a transition strategy is important for my future and the future of my business?" - CORRECT ANSWER - State of Owner Readiness It's important to not just tell an owner the right answer, but to ask them the right question. What are examples of the "right question" to ask a business owner client? - CORRECT ANSWER - a. What is the strength of your intangible capital? b. What is your biggest pain point and biggest desire? c. What deal structure are you looking for when selling? Complete the following quote: "Luck is ___ meeting opportunity." - CORRECT ANSWER - Preparation Four intangible capitals (The 4Cs) include Human, Structural, Social, and Customer (True/False) - CORRECT ANSWER - True Four intangible capitals (The 4Cs) include _ _ _ _ _, Structural, Social, and Customer - CORRECT ANSWER - Human Four intangible capitals (The 4Cs) include Human, _ _ _ _ _ _ _ _ _ _, Social, and Customer - CORRECT ANSWER - Structural Four intangible capitals (The 4Cs) include Human, Structural, _ _ _ _ _ _, and Customer - CORRECT ANSWER - Social Four intangible capitals (The 4Cs) include Human, Structural, Social, and _ _ _ _ _ _ _ _ - CORRECT ANSWER - Customer Business is personal for most owners (T/F) - CORRECT ANSWER - True Exit planning is a strategic business tool used to focus the company on maximizing business value (T/F) - CORRECT ANSWER - True The Baby Boomer generation doesn't needs to be thinking about exit planning (T/F) - CORRECT ANSWER - True The Value Acceleration Methodology provides a structure to the exit planning process (T/F) - CORRECT ANSWER - True A successful exit strategy balances the "____ Legs of the Stool." - CORRECT ANSWER - Three What is one of the main causes of "sellers' cold feet" during the sale of a business? - CORRECT ANSWER - Lack of Personal Planning What is the first stage in the "Five Stages of Value Maturity?" - CORRECT ANSWER - Identify What is the second stage in the "Five Stages of Value Maturity?" - CORRECT ANSWER - Protect What is the third stage in the "Five Stages of Value Maturity?" - CORRECT ANSWER - Build What is the fourth stage in the "Five Stages of Value Maturity?" - CORRECT ANSWER - Harvest What is the fifth/final stage in the "Five Stages of Value Maturity?" - CORRECT ANSWER - Manage