CEPA Exam Questions – Certified Exit Planning Advisor Practice Test & Answers

CEPA (CERTIFIED EXIT PLANNING
ADVISOR) EXAM QUESTIONS AND
CORRECT ANSWERS (VERIFIED ANSWERS)
A GRADE


A _____ gift is one in which the person who received the
gift has the unrestricted right to the immediate
possession and use of it. - correct answer-
Present Interest Gift


A "deliverable" includes which characteristics? -
correct answer- a. Represents the conclusion of
an assignment, task, or action


b. Displays what the client is paying for


c. Provides recommendations on the next set of actions
the client should take


A business attractiveness score of 67% is considered: -
correct answer- Above Average

, A business owner only needs one advisor to complete
their exit planning (T/F) - correct answer- False


A descendant's unused federal estate tax exemption may
be used by the surviving spouse (T/F) - correct
answer- True


A descendant's unused federal estate tax exemption may
not be used by the surviving spouse (T/F) - correct
answer- False


A gift received by a person is not taxable income -
correct answer- True


A key difference between lifestyle businesses and value
creator businesses is that value creator businesses usually
generate better income (T/F) - correct answer-
True