CEPA (Certified Exit Planning Advisor) Exam
Preparation Version 2 Newest 2026-2027 With
Complete Questions And Correct Detailed Answers|
Brand New Version!
Which of the following are examples of a typical estate planning
conversation that should be had with a business owner?
Creditor protection
Disability trustee planning
Preserving the deceased spouse's coupon
What are the first two major deliverables within Gate 1 of the Value
Acceleration Methodology™?
A Business Valuation
Personal, Financial, Business Assessment
In what gate would you utilize a business valuation?
Gate 1
1|Page
,What are common exit readiness issues?
No personal goals and objectives
Shareholders/family members aren't on the same page
Credibility of financial information
Year-over-year growth in sales and profit would benefit a company's:
Attractiveness
A business attractiveness score of 67% is considered:
Above average
There are two numbers in every business. The tax number and the ____
number.
real
Strong customer loyalty, staff longevity, and organized financials are all
examples of ____.
2|Page
,Business attractiveness strengths
Homes, cars, and travel charged through the business are all examples
of ____.
Discretionary expenses
The Triggering Event promotes owner action ___% of the time.
70%
A business's Range of Value (ROV) multiple is determined by _____.
The private capital market
Why would an owner want to have a business valuation performed on
their company?
Divorce
Ownership transfer to family
Installing an ESOP
3|Page
, What is NOT a standard of value when it comes to business valuation?
Hypothetical value
What are the three broad approaches to determining value?
Income
Market
Asset
In the income approach to business valuation, which method is
predicated on a specific future look at economic benefits?
Discounted cash flow method
What are the two most common types of transactions during a business
sale?
Asset Sale and Stock Sale
Which Standard of Value can lead to unrealistic seller expectations?
4|Page
Preparation Version 2 Newest 2026-2027 With
Complete Questions And Correct Detailed Answers|
Brand New Version!
Which of the following are examples of a typical estate planning
conversation that should be had with a business owner?
Creditor protection
Disability trustee planning
Preserving the deceased spouse's coupon
What are the first two major deliverables within Gate 1 of the Value
Acceleration Methodology™?
A Business Valuation
Personal, Financial, Business Assessment
In what gate would you utilize a business valuation?
Gate 1
1|Page
,What are common exit readiness issues?
No personal goals and objectives
Shareholders/family members aren't on the same page
Credibility of financial information
Year-over-year growth in sales and profit would benefit a company's:
Attractiveness
A business attractiveness score of 67% is considered:
Above average
There are two numbers in every business. The tax number and the ____
number.
real
Strong customer loyalty, staff longevity, and organized financials are all
examples of ____.
2|Page
,Business attractiveness strengths
Homes, cars, and travel charged through the business are all examples
of ____.
Discretionary expenses
The Triggering Event promotes owner action ___% of the time.
70%
A business's Range of Value (ROV) multiple is determined by _____.
The private capital market
Why would an owner want to have a business valuation performed on
their company?
Divorce
Ownership transfer to family
Installing an ESOP
3|Page
, What is NOT a standard of value when it comes to business valuation?
Hypothetical value
What are the three broad approaches to determining value?
Income
Market
Asset
In the income approach to business valuation, which method is
predicated on a specific future look at economic benefits?
Discounted cash flow method
What are the two most common types of transactions during a business
sale?
Asset Sale and Stock Sale
Which Standard of Value can lead to unrealistic seller expectations?
4|Page
