Epi Exam Prep Guide for Cepa Exam Questions with Correct Answers 2025

Epi Exam Prep Guide for Cepa Exam
Questions with Correct Answers 2025
WhatFpercentageFofFprivatelyFheldFbusinessesFofferedFforFsaleFeachFyearFdoFNOTFsell?F-
FCORRECTFANSWERF-80%




BusinessFSurvivalFRateFacrossFgenerations?F-FCORRECTFANSWERF-SecondFgenF=F30%F

ThirdFgenF=F12%F

FourthFgenF=F3%



WhatFpercentageFofFownersFhaveFdoneFnoFexitFplanningFatFall?F-FCORRECTFANSWERF-49%



WhatFareFtheFfiveFD's?F-FCORRECTFANSWERF-Death,FDivorce,FDistress,FDisabled,FDisagreement



AdvisorsFofFtheFFutureFchangeFowner/peerFparadigmsFaboutFwhatFexitFplanningFactuallyFisFbyF-
FCORRECTFANSWERF-a.FExitFplanningFisFbusinessFstrategy



b.FValueFisFallFaboutFtransferability

c.FTheyFworkFfromFaFcommonFframeworkFthatFfocusesFonFvalueFgrowthFandFaligningFbusiness,Fpersonal,Fan
d

financialFgoals



ExitFplanningFecosystemFdefinedF-FCORRECTFANSWERF-
AFsystem,ForFgroupFofFinterconnectedFdisciplines,FformedFbyFtheFinteractionFofFaFcollaborative,Flike-
mindedFcommunityFofFprofessionalFadvisors,FwithFaFcommonFgoalFtoFgrow,Fpreserve,FandFtransitionFwealt
hFforFbusinessFowners



AdvisorFofFtheFfutureF-FCORRECTFANSWERF-a.FFocusesFonFvalueFcreation.

b.FActsFasFtheFquarterbackFofFtheFteam.

c.FOverseesFaFmasterFplan.

d.FHelpsFotherFadvisorsFgetFengagedFandFresolvesFissues

,BusinessFownersFleaveFmoneyFonFtheFtableFbecauseFtheyFdoFnotFfocusFonFwhatFtypeFofFvalue?F-
FCORRECTFANSWERF-EnterpriseFvalue




WhatFisFexitFplanning?F(RichardFJackim)F-FCORRECTFANSWERF-
a.FAnFexitFplanFasksFandFanswersFallFtheFbusiness,Fpersonal,Ffinancial,Flegal,FandFtaxFquestionsFinvolvedFin

transitioningFaFprivately-ownedFbusiness

b.FItFincludesFcontingenciesFforFillness,Fburnout,Fdivorce,FandFdeath

c.FItsFpurposeFisFtoFmaximizeFtheFvalueFofFtheFbusinessFatFtheFtimeFofFexit,FminimizeFtaxes,FandFensureFthe

ownerFisFableFtoFaccomplishFallFhisForFherFpersonalFandFfinancialFgoalsFinFtheFprocess



ChrisFSniderFdefinitionFofFexitFplanning?F-FCORRECTFANSWERF-
ExitFPlanningFcombinesFtheFplan,Fconcept,FeffortFandFprocessFintoFaFclear,FsimpleFstrategyFtoFbuildFaFbusine
ssFthatFisFtransferableFthroughFstrongFhuman,Fstructural,Fcustomer,FandFsocialFcapital.FTheFfutureFofFyou,Fy
ourFfamily,FandFyourFbusinessFareFaddressedFbyFexitFplanningFthroughFcreatingFvalueFtoday



BlueFoceansFandFvalueFinnovationF-FCORRECTFANSWERF-
.FAFBlueFOceanFdenotesFanFindustryFnotFinFexistenceFtoday

b.FValueFinnovationFisFaFnewFwayFofFthinkingFaboutFandFexecutingFstrategyFthatFresultsFinFaFblueFoceanFandF
a

breakFfromFtheFcompetition

c.FFocusFisFonFmakingFcompetitionFirrelevantFbyFcreatingFaFleapFinFvalue



HistoricalFdataFonFexitsF-FCORRECTFANSWERF-
A.FOneFyearFafterFselling,FthreeFoutFofFfourFbusinessFownersFsurveyedF"profoundlyFregretted"FtheFdecisionF

b.F70%-80%FofFbusinessesFputFonFtheFmarketFdon'tFsell

c.FOnlyF30%FofFallFfamily-ownedFbusinessesFsurviveFintoFtheFsecondFgeneration



StatsFfromFEPIFownershipFreadinessFsurveyF-FCORRECTFANSWERF-
a.F66%FareFnotFfamiliarFwithFallFexitFoptions

b.F78%FhaveFnoFformalFtransitionFadvisoryFteam

c.F83%FhaveFnoFwrittenFtransitionFplan

d.F49%FhaveFdoneFnoFplanningFatFallFe.F93%FhaveFnoFformalFlifeFafterFplan

, OpportunitiesFinFexitFplanningF-FCORRECTFANSWERF-
a.FBabyFboomersFownF63%FofFtheFprivateFbusinessesFinFtheFUS

b.F76%FofFthemFplanFtoFtransitionFoverFtheFnextF10Fyears

c.FRepresentsFaFtransferFofFapproximatelyF4.5FmillionFbusinessesFandFoverF$10FtrillionFofFwealth



ChallengesFtoFexitFplanningF-FCORRECTFANSWERF-a.FBoomersFdon'tFwantFtoFexit

b.F50%FofFexitsFareFcausedFbyFoneFofFtheFfiveFDsF(Death,FDisability,FDivorce,FDistress,FDisagreement)

c.FOwnersFareFleavingFmoneyFonFtheFtableFbecauseFtheyFareFfocusedFonFincomeFgeneration,FnotFenterprise

value



ValueFaccelerationFisFbasedFonFwhatFmanagementFphilosophyF-FCORRECTFANSWERF-MasterFPlanning



ThreeFgatesFofFValueFAccelerationFMethodologyF-FCORRECTFANSWERF-DiscoverF-FPrepareF-FDecide



BenefitsFofFfocusingFonFvalue?F-FCORRECTFANSWERF-PredictableFresults

EmployeesFstartFthinkingFlikeFowners

MitigatesFrisk



WhenFisFTriggeringFeventFcompleted?F-FCORRECTFANSWERF-DiscoverFgate



FullFvalueFaccelerationFusuallyFtakes?F-FCORRECTFANSWERF-3-5FYR



54321F-FCORRECTFANSWERF-a.FFiveFStages

b.FFourFCapitals

c.FThreeFGates

d.FTwoFPaths

e.FOneFGoal