CEPA (CERTIFIED EXIT PLANNING ADVISOR)
EXAM PREP 2024 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?" -
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? -
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." - ANSWER:
Preparation
Four intangible capitals (The 4Cs) include Human, Structural, Social, and Customer
(True/False) - ANSWER: True
Four intangible capitals (The 4Cs) include _ _ _ _ _, Structural, Social, and Customer -
ANSWER: Human
Four intangible capitals (The 4Cs) include Human, _ _ _ _ _ _ _ _ _ _, Social, and
Customer - ANSWER: Structural
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) - ANSWER: True #$%^&*&^%
$#$%^&*(*&
Exit planning is a strategic business tool used to focus the company on maximizing
^%$#%^&*(*
business value (T/F) - ANSWER: True
&^%$%^&*(
The Baby Boomer generation doesn't needs to be thinking about exit planning (T/F) - *&^%$%^&*
ANSWER: True )*&^%$%^&
(*&^%$#$%^
The Value Acceleration Methodology provides a structure to the exit planning process &*(&^%$#$%
(T/F) - ANSWER: True ^&*(*&^%$#
%^&*(*&^%
%^&*(*&^%
%^&*(*&^%
#$%^&*&^%
$#$%^&*(*&
^%$#$%^&*
, CEPA (CERTIFIED EXIT PLANNING ADVISOR)
EXAM PREP 2024 QUESTIONS WITH 100%
CORRECT ANSWERS
A successful exit strategy balances the "____ Legs of the Stool." - ANSWER: Three
What is one of the main causes of "sellers' cold feet" during the sale of a business? -
ANSWER: Lack of Personal Planning
What is the first stage in the "Five Stages of Value Maturity?" - ANSWER: Identify
What is the second stage in the "Five Stages of Value Maturity?" - ANSWER: Protect
What is the third stage in the "Five Stages of Value Maturity?" - ANSWER: Build
What is the fourth stage in the "Five Stages of Value Maturity?" - ANSWER: Harvest
What is the fifth/final stage in the "Five Stages of Value Maturity?" - ANSWER:
Manage
When ranking a business's intangible capitals, what is the main purpose of using the
common sense scoring of 1 - 6 - ANSWER: Forced 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) - ANSWER: True
First gate in the Value Acceleration Methodology? - ANSWER: Discover
Second gate in the Value Acceleration Methodology? - ANSWER: Prepare
Third gate in the Value Acceleration Methodology? - ANSWER: Decide
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 $#$%^&*(*&
^%$#%^&*(*
The typical business owner has ____% of their net worth tied up within their business. -&^%$%^&*(
ANSWER: 80% *&^%$%^&*
)*&^%$%^&
What are benefit of prioritizing wealth management for a business owner? -
(*&^%$#$%^
ANSWER: a. Tax efficiency
b. Insurances in place (Risk Management) &*(&^%$#$%
c. Structured cash flow ^&*(*&^%$#
%^&*(*&^%
%^&*(*&^%
%^&*(*&^%
#$%^&*&^%
$#$%^&*(*&
^%$#$%^&*
EXAM PREP 2024 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?" -
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? -
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." - ANSWER:
Preparation
Four intangible capitals (The 4Cs) include Human, Structural, Social, and Customer
(True/False) - ANSWER: True
Four intangible capitals (The 4Cs) include _ _ _ _ _, Structural, Social, and Customer -
ANSWER: Human
Four intangible capitals (The 4Cs) include Human, _ _ _ _ _ _ _ _ _ _, Social, and
Customer - ANSWER: Structural
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) - ANSWER: True #$%^&*&^%
$#$%^&*(*&
Exit planning is a strategic business tool used to focus the company on maximizing
^%$#%^&*(*
business value (T/F) - ANSWER: True
&^%$%^&*(
The Baby Boomer generation doesn't needs to be thinking about exit planning (T/F) - *&^%$%^&*
ANSWER: True )*&^%$%^&
(*&^%$#$%^
The Value Acceleration Methodology provides a structure to the exit planning process &*(&^%$#$%
(T/F) - ANSWER: True ^&*(*&^%$#
%^&*(*&^%
%^&*(*&^%
%^&*(*&^%
#$%^&*&^%
$#$%^&*(*&
^%$#$%^&*
, CEPA (CERTIFIED EXIT PLANNING ADVISOR)
EXAM PREP 2024 QUESTIONS WITH 100%
CORRECT ANSWERS
A successful exit strategy balances the "____ Legs of the Stool." - ANSWER: Three
What is one of the main causes of "sellers' cold feet" during the sale of a business? -
ANSWER: Lack of Personal Planning
What is the first stage in the "Five Stages of Value Maturity?" - ANSWER: Identify
What is the second stage in the "Five Stages of Value Maturity?" - ANSWER: Protect
What is the third stage in the "Five Stages of Value Maturity?" - ANSWER: Build
What is the fourth stage in the "Five Stages of Value Maturity?" - ANSWER: Harvest
What is the fifth/final stage in the "Five Stages of Value Maturity?" - ANSWER:
Manage
When ranking a business's intangible capitals, what is the main purpose of using the
common sense scoring of 1 - 6 - ANSWER: Forced 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) - ANSWER: True
First gate in the Value Acceleration Methodology? - ANSWER: Discover
Second gate in the Value Acceleration Methodology? - ANSWER: Prepare
Third gate in the Value Acceleration Methodology? - ANSWER: Decide
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 $#$%^&*(*&
^%$#%^&*(*
The typical business owner has ____% of their net worth tied up within their business. -&^%$%^&*(
ANSWER: 80% *&^%$%^&*
)*&^%$%^&
What are benefit of prioritizing wealth management for a business owner? -
(*&^%$#$%^
ANSWER: a. Tax efficiency
b. Insurances in place (Risk Management) &*(&^%$#$%
c. Structured cash flow ^&*(*&^%$#
%^&*(*&^%
%^&*(*&^%
%^&*(*&^%
#$%^&*&^%
$#$%^&*(*&
^%$#$%^&*
