K
C
LO
YC
CEPA PRACTICE EXAM
QUESTIONS & TERMS BANK
D
WITH CORRECT ANSWERS
U
ALL VERIFIED BY AN EXPERT
ST
A+ GRADED (LATEST UPDATE)
,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?"
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?
What is the strength of your intangible capital?
What is your biggest pain point and biggest desire?
What deal structure are you looking for when selling?
K
Complete this sentence: A successful exit strategy balances the "____ Legs of the Stool."
C
Three
LO
What is the cause of "sellers' cold feet" during the sale of a business?
Lack of personal planning
What is the first stage in the "Five Stages of Value Maturity?"
YC
Identify
When ranking a business's intangible capitals, what is the main purpose of using the common
sense scoring of 1-6?
It forces you to not choose "average"
D
Which style of business is more likely to generate better income and sell at a premium?
U
Value Creator
ST
The four intangible capitals (The 4 Cs) include Human, Structural, Social, and __ capitals.
Customer
An independent personal, financial, and business assessment correlated to business range of
value is referred to as:
The Triggering Event
What are questions owners should be asking themselves every 90 days?
Do you want to keep growing or do you want to shift focus to exiting?
, Is your business ready to transition?
Which exit options or hybrid options should we consider?
What is the second stage in the "Five Stages of Value Maturity?"
Protect
Value Acceleration is grounded in:
Action
K
Complete the following equation: R/EBITDA x Market Multiple = ______
C
Value
LO
"Do you want to keep growing or do you want to shift focus to exiting?" is an example of a
question owners should ask themselves every ____.
90 Days
YC
What is the third stage in the "Five Stages of Value Maturity?"
Build
What are the 3 gates in the Value Acceleration Methodology?
Prepare
D
Discover
Decide
U
The typical business owner has ____% of their net worth tied up within their business.
80%
ST
What are benefits of prioritizing wealth management for a business owner?
Tax efficiency
Insurances in place (Risk Management)
Structured cash flow
Life insurance, health insurance, and product liability insurance all fall under which section of
the financial planning process?
Risk Management
C
LO
YC
CEPA PRACTICE EXAM
QUESTIONS & TERMS BANK
D
WITH CORRECT ANSWERS
U
ALL VERIFIED BY AN EXPERT
ST
A+ GRADED (LATEST UPDATE)
,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?"
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?
What is the strength of your intangible capital?
What is your biggest pain point and biggest desire?
What deal structure are you looking for when selling?
K
Complete this sentence: A successful exit strategy balances the "____ Legs of the Stool."
C
Three
LO
What is the cause of "sellers' cold feet" during the sale of a business?
Lack of personal planning
What is the first stage in the "Five Stages of Value Maturity?"
YC
Identify
When ranking a business's intangible capitals, what is the main purpose of using the common
sense scoring of 1-6?
It forces you to not choose "average"
D
Which style of business is more likely to generate better income and sell at a premium?
U
Value Creator
ST
The four intangible capitals (The 4 Cs) include Human, Structural, Social, and __ capitals.
Customer
An independent personal, financial, and business assessment correlated to business range of
value is referred to as:
The Triggering Event
What are questions owners should be asking themselves every 90 days?
Do you want to keep growing or do you want to shift focus to exiting?
, Is your business ready to transition?
Which exit options or hybrid options should we consider?
What is the second stage in the "Five Stages of Value Maturity?"
Protect
Value Acceleration is grounded in:
Action
K
Complete the following equation: R/EBITDA x Market Multiple = ______
C
Value
LO
"Do you want to keep growing or do you want to shift focus to exiting?" is an example of a
question owners should ask themselves every ____.
90 Days
YC
What is the third stage in the "Five Stages of Value Maturity?"
Build
What are the 3 gates in the Value Acceleration Methodology?
Prepare
D
Discover
Decide
U
The typical business owner has ____% of their net worth tied up within their business.
80%
ST
What are benefits of prioritizing wealth management for a business owner?
Tax efficiency
Insurances in place (Risk Management)
Structured cash flow
Life insurance, health insurance, and product liability insurance all fall under which section of
the financial planning process?
Risk Management
