CEPA (CERTIFIED EXIT PLANNING ADVISOR) EXAM PREP 2024/2025
QUESTIONS WITH 100% 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?" -
AnswerState 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? -
Answera. 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." -
AnswerPreparation
Four intangible capitals (The 4Cs) include Human, Structural, Social, and Customer
(True/False) -
AnswerTrue
Four intangible capitals (The 4Cs) include ________ , Structural, Social, and Customer -
Answer)Human
Four intangible capitals (The 4Cs) include Human, _________________ , Social, and
Customer -
AnswerStructural
Four intangible capitals (The 4Cs) include Human, Structural, __________ , and Customer
- Answer)Social
Four intangible capitals (The 4Cs) include Human, Structural, Social, and _ _ _ _ _ _ _ _
- Answer)Customer
Business is personal for most owners (T/F) -
AnswerTrue
Exit planning is a strategic business tool used to focus the company on maximizing
business value (T/F) -
AnswerTrue
The Baby Boomer generation doesn't needs to be thinking about exit planning (T/F) -
AnswerTrue
The Value Acceleration Methodology provides a structure to the exit planning process
(T/F) -
AnswerTrue
A successful exit strategy balances the " Legs of the Stool." -
AnswerThree
, What is one of the main causes of "sellers' cold feet" during the sale of a business? -
AnswerLack of Personal Planning
What is the first stage in the "Five Stages of Value Maturity?" -
AnswerIdentify
What is the second stage in the "Five Stages of Value Maturity?" -
AnswerProtect
What is the third stage in the "Five Stages of Value Maturity?" -
AnswerBuild
What is the fourth stage in the "Five Stages of Value Maturity?" -
AnswerHarvest
What is the fifth/final stage in the "Five Stages of Value Maturity?" -
AnswerManage
When ranking a business's intangible capitals, what is the main purpose of using the
common sense scoring of 1 - 6 -
AnswerForced to not chose average
A key difference between lifestyle businesses and value creator businesses is that value
creator businesses usually generate better income (T/F) -
AnswerTrue
First gate in the Value Acceleration Methodology? -
AnswerDiscover
Second gate in the Value Acceleration Methodology? -
AnswerPrepare
Third gate in the Value Acceleration Methodology? -
AnswerDecide
If the potential value for a business is 16 million, and it's currently valued at 9 million,
what is the value gap of the business? -
Answer$7 Million
The typical business owner has % of their net worth tied up within their business. -
Answer80%
What are benefit of prioritizing wealth management for a business owner? -
Answera.
Tax efficiency
QUESTIONS WITH 100% 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?" -
AnswerState 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? -
Answera. 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." -
AnswerPreparation
Four intangible capitals (The 4Cs) include Human, Structural, Social, and Customer
(True/False) -
AnswerTrue
Four intangible capitals (The 4Cs) include ________ , Structural, Social, and Customer -
Answer)Human
Four intangible capitals (The 4Cs) include Human, _________________ , Social, and
Customer -
AnswerStructural
Four intangible capitals (The 4Cs) include Human, Structural, __________ , and Customer
- Answer)Social
Four intangible capitals (The 4Cs) include Human, Structural, Social, and _ _ _ _ _ _ _ _
- Answer)Customer
Business is personal for most owners (T/F) -
AnswerTrue
Exit planning is a strategic business tool used to focus the company on maximizing
business value (T/F) -
AnswerTrue
The Baby Boomer generation doesn't needs to be thinking about exit planning (T/F) -
AnswerTrue
The Value Acceleration Methodology provides a structure to the exit planning process
(T/F) -
AnswerTrue
A successful exit strategy balances the " Legs of the Stool." -
AnswerThree
, What is one of the main causes of "sellers' cold feet" during the sale of a business? -
AnswerLack of Personal Planning
What is the first stage in the "Five Stages of Value Maturity?" -
AnswerIdentify
What is the second stage in the "Five Stages of Value Maturity?" -
AnswerProtect
What is the third stage in the "Five Stages of Value Maturity?" -
AnswerBuild
What is the fourth stage in the "Five Stages of Value Maturity?" -
AnswerHarvest
What is the fifth/final stage in the "Five Stages of Value Maturity?" -
AnswerManage
When ranking a business's intangible capitals, what is the main purpose of using the
common sense scoring of 1 - 6 -
AnswerForced to not chose average
A key difference between lifestyle businesses and value creator businesses is that value
creator businesses usually generate better income (T/F) -
AnswerTrue
First gate in the Value Acceleration Methodology? -
AnswerDiscover
Second gate in the Value Acceleration Methodology? -
AnswerPrepare
Third gate in the Value Acceleration Methodology? -
AnswerDecide
If the potential value for a business is 16 million, and it's currently valued at 9 million,
what is the value gap of the business? -
Answer$7 Million
The typical business owner has % of their net worth tied up within their business. -
Answer80%
What are benefit of prioritizing wealth management for a business owner? -
Answera.
Tax efficiency
