CEPA QUESTION & TERMS BANK PRACTICE EXAM 2026
|ALL QUESTIONS AND TERMS | VERIFIE ANSWERS |
RATED A+ | REVISED
1. 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
2. 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?
3. Complete this sentence: A successful exit strategy balances the " Legs
of the Stool.": Three
4. What is the cause of "sellers' cold feet" during the sale of a business?: Lack
of personal planning
5. What is the first stage in the "Five Stages of Value Maturity?": Identify
6. 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"
7. Which style of business is more likely to generate better income and sell at
a premium?: Value Creator
8. The four intangible capitals (The 4 Cs) include Human, Structural, Social, and
capitals.: Customer
9. An independent personal, financial, and business assessment correlated to
business range of value is referred to as:: The Triggering Event
10. 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?
11. What is the second stage in the "Five Stages of Value Maturity?": Protect
12. Value Acceleration is grounded in:: Action
13. Complete the following equation: R/EBITDA x Market Multiple = : Value
14. "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
15. What is the third stage in the "Five Stages of Value Maturity?": Build
,16. What are the 3 gates in the Value Acceleration Methodology?:
Prepare Discover
Decide
17. The typical business owner has % of their net worth tied up within
their business.: 80%
18. What are benefits of prioritizing wealth management for a business owner?-
: Tax eflciency
Insurances in place (Risk Management)
Structured cash flow
19. Life insurance, health insurance, and product liability insurance all fall
under which section of the financial planning process?: Risk Management
20. What best describes the components of integrated wealth management for
individuals?: Retirement planning, risk management, estate planning, portfolio management
21. The distance between your client's current net worth and their financial
goal for post-business retirement life is referred to as the:: Wealth Gap
22. What are areas of wealth management that can be controlled by the busi-
ness owner?: Cash Flow
Risk Management
Investments
23. What are examples of questions that financial planning can answer for a
business owner?: How much money do I need to sell my business for?
What rate of return do I need on my investments?
What is the current volatility of the stock market?
24. A provides for the stability and continuity of a closely held
business and is a crucial part of a business owner's overall succession and
estate plan.-
: buy-sell agreement
25. What are examples of information that is typically found on an
, owner's balance sheet?: Cash Reserve's Structure
Asset Protection
Interest Deductibility
|ALL QUESTIONS AND TERMS | VERIFIE ANSWERS |
RATED A+ | REVISED
1. 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
2. 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?
3. Complete this sentence: A successful exit strategy balances the " Legs
of the Stool.": Three
4. What is the cause of "sellers' cold feet" during the sale of a business?: Lack
of personal planning
5. What is the first stage in the "Five Stages of Value Maturity?": Identify
6. 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"
7. Which style of business is more likely to generate better income and sell at
a premium?: Value Creator
8. The four intangible capitals (The 4 Cs) include Human, Structural, Social, and
capitals.: Customer
9. An independent personal, financial, and business assessment correlated to
business range of value is referred to as:: The Triggering Event
10. 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?
11. What is the second stage in the "Five Stages of Value Maturity?": Protect
12. Value Acceleration is grounded in:: Action
13. Complete the following equation: R/EBITDA x Market Multiple = : Value
14. "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
15. What is the third stage in the "Five Stages of Value Maturity?": Build
,16. What are the 3 gates in the Value Acceleration Methodology?:
Prepare Discover
Decide
17. The typical business owner has % of their net worth tied up within
their business.: 80%
18. What are benefits of prioritizing wealth management for a business owner?-
: Tax eflciency
Insurances in place (Risk Management)
Structured cash flow
19. Life insurance, health insurance, and product liability insurance all fall
under which section of the financial planning process?: Risk Management
20. What best describes the components of integrated wealth management for
individuals?: Retirement planning, risk management, estate planning, portfolio management
21. The distance between your client's current net worth and their financial
goal for post-business retirement life is referred to as the:: Wealth Gap
22. What are areas of wealth management that can be controlled by the busi-
ness owner?: Cash Flow
Risk Management
Investments
23. What are examples of questions that financial planning can answer for a
business owner?: How much money do I need to sell my business for?
What rate of return do I need on my investments?
What is the current volatility of the stock market?
24. A provides for the stability and continuity of a closely held
business and is a crucial part of a business owner's overall succession and
estate plan.-
: buy-sell agreement
25. What are examples of information that is typically found on an
, owner's balance sheet?: Cash Reserve's Structure
Asset Protection
Interest Deductibility
