CEPA TEST PAPER QUESTIONS AND
SOLUTIONS GRADED A+
●● What does an exit plan address?
Answer: All business, personal, financial, legal, and tax questions
involved in transitioning a privately-owned business.
●● What contingencies should be included in an exit plan?
Answer: Contingencies for illness, burnout, divorce, and death.
●● Who created the CEPA Program?
Answer: The Exit Planning Institute (EPI) in 2007.
●● What is the Value Acceleration Methodology™?
Answer: A process that integrates exit strategy into business, personal,
and financial goals of the business owner.
●● What are the three major components of the Value Acceleration
Methodology?
Answer: Maximizing business value, personal financial planning, and
life-after business planning.
,●● What percentage of the CEPA Exam questions focus on the Value
Acceleration Methodology?
Answer: 50%.
●● What is the format of the CEPA Exam?
Answer: 150 multiple-choice questions, including situational stories
followed by related questions.
●● What is required to pass the CEPA Exam?
Answer: A score of 70% or better.
●● What percentage of businesses put on the market do not sell?
Answer: 70%-80%.
●● What is a common regret among business owners after selling their
business?
Answer: Three out of four owners surveyed "profoundly regretted" the
decision one year after selling.
●● What is the survival rate of family-owned businesses into the second
generation?
Answer: Only 30% survive.
,●● What is the significance of the Faculty Meetup in the CEPA
program?
Answer: It is a forum for CEPA Candidates to discuss critical topics and
ask questions.
●● What should CEPA Candidates do after each day in the program?
Answer: Review the program manual and answer the study guide
questions.
●● What are the three sections of the CEPA Exam?
Answer: Value Acceleration Methodology, Value Acceleration
Methodology Case Studies, and Technical Modules.
●● What is the focus of the Technical Modules in the CEPA Exam?
Answer: Topics such as Financial Planning, Estate Planning, Private
Equity, and Business Valuation.
●● What is the recommended study approach for the CEPA Exam?
Answer: Actively participate in the classroom, self-study, and review all
required readings.
●● What is the role of the Exit Planning Institute (EPI)?
Answer: To provide resources and education for professionals in the
field of exit planning.
, ●● What does exit planning combine according to Christopher Snider?
Answer: The plan, concept, effort, and process into a clear strategy to
build a transferable business.
●● What is a key outcome of effective exit planning?
Answer: Creating value today for the future of the owner, family, and
business.
●● What is the significance of understanding key concepts in the CEPA
program?
Answer: It is critical for passing the CEPA Exam and succeeding in the
marketplace.
●● What should CEPA Candidates focus on in the Practice Test
Questions & Study Topics section?
Answer: Key elements within each module that are critical for passing
the exam.
●● What is the recommended method for utilizing the study guide?
Answer: To navigate the CEPA program body of knowledge and
understand critical elements for the exam.
●● What is the importance of the CEPA Exam's closed book format?
SOLUTIONS GRADED A+
●● What does an exit plan address?
Answer: All business, personal, financial, legal, and tax questions
involved in transitioning a privately-owned business.
●● What contingencies should be included in an exit plan?
Answer: Contingencies for illness, burnout, divorce, and death.
●● Who created the CEPA Program?
Answer: The Exit Planning Institute (EPI) in 2007.
●● What is the Value Acceleration Methodology™?
Answer: A process that integrates exit strategy into business, personal,
and financial goals of the business owner.
●● What are the three major components of the Value Acceleration
Methodology?
Answer: Maximizing business value, personal financial planning, and
life-after business planning.
,●● What percentage of the CEPA Exam questions focus on the Value
Acceleration Methodology?
Answer: 50%.
●● What is the format of the CEPA Exam?
Answer: 150 multiple-choice questions, including situational stories
followed by related questions.
●● What is required to pass the CEPA Exam?
Answer: A score of 70% or better.
●● What percentage of businesses put on the market do not sell?
Answer: 70%-80%.
●● What is a common regret among business owners after selling their
business?
Answer: Three out of four owners surveyed "profoundly regretted" the
decision one year after selling.
●● What is the survival rate of family-owned businesses into the second
generation?
Answer: Only 30% survive.
,●● What is the significance of the Faculty Meetup in the CEPA
program?
Answer: It is a forum for CEPA Candidates to discuss critical topics and
ask questions.
●● What should CEPA Candidates do after each day in the program?
Answer: Review the program manual and answer the study guide
questions.
●● What are the three sections of the CEPA Exam?
Answer: Value Acceleration Methodology, Value Acceleration
Methodology Case Studies, and Technical Modules.
●● What is the focus of the Technical Modules in the CEPA Exam?
Answer: Topics such as Financial Planning, Estate Planning, Private
Equity, and Business Valuation.
●● What is the recommended study approach for the CEPA Exam?
Answer: Actively participate in the classroom, self-study, and review all
required readings.
●● What is the role of the Exit Planning Institute (EPI)?
Answer: To provide resources and education for professionals in the
field of exit planning.
, ●● What does exit planning combine according to Christopher Snider?
Answer: The plan, concept, effort, and process into a clear strategy to
build a transferable business.
●● What is a key outcome of effective exit planning?
Answer: Creating value today for the future of the owner, family, and
business.
●● What is the significance of understanding key concepts in the CEPA
program?
Answer: It is critical for passing the CEPA Exam and succeeding in the
marketplace.
●● What should CEPA Candidates focus on in the Practice Test
Questions & Study Topics section?
Answer: Key elements within each module that are critical for passing
the exam.
●● What is the recommended method for utilizing the study guide?
Answer: To navigate the CEPA program body of knowledge and
understand critical elements for the exam.
●● What is the importance of the CEPA Exam's closed book format?
