CEPA (CERTIFIED EXIT PLANNING ADVISOR)
EXAM QUESTIONS WITH VERIFIED ANSWERS
2026 | Complete Review Pack | A+
• According to the Family Firm Institute, what percentage of family transitions survive
into the second generation ? -✓✓30%
• What are the 5 d's ? -✓✓Divorce, Death, Distress
• Business owners are leaving dollars on the table by not focusing on what? -
✓✓Enterprise value
• The advisor of the future needs to get owners and advisors to make several paradigm
shifts for exit planning and value acceleration to work to the benefit of owners and their
families. What is the first paradigm shift that needs to be made? -✓✓Exit planning is
good business strategy
• What is exit planning planning according to Richard Jackim -✓✓Exit planning asks
and answers all the business, personal financial, legal, and tax questions involved in
transitioning a privately-owned business. It includes contingencies for illness, burnout,
divorce and death. The purpose is to maximize value of the business at the time of exit,
minimize taxes, and ensure the owner is able to accomplish all his personal and
financial goals in the process
• What is exit planning according to Chris Snider? -✓✓Exit planning combines the plan,
concept, effort and process into clear, simple strategy to build a business that is
transferable through strong human, structural, customer and social capital. The future of
you, your family and your business are addressed by exit planning through creating
value today.
• True/False Exit Planning is Simply good business strategy. -✓✓True.
• After a year, of selling the business how many business owners regret the decision? -
✓✓3 out of 4
• How many businesses in the market do not sell? -✓✓70-80%
• How many family owned businesses survive into the 2nd generation? -✓✓30%
• According to 2013 EPi State of owners Readiness Survey, how many owners are not
familiar to their exit options? -✓✓66% are not familiar with exit options
, • According to the EPI State of Owner Readiness Survet, how many owners do not have
a formal advisory team? -✓✓78% have no formal transition advisory teams
• According to the EPI State of Owner Readiness Survey, how many owners have no
written transition plan -✓✓83%
• According to EPI State of Owner Readiness Survey, how many owners have done no
planning at all -✓✓49%
• According to EPI State of Owner Readiness Survey, how many owner have no formal
plan? -✓✓93%
• What amount represents the value of wealth that transfers of approximately 4.5 million
businesses? -✓✓10 trillion dollars
• How many baby boomers plan to transition over the next 10 years? -✓✓76%
• The mission of EPI and CEPAS to change the outcome. CEPAS do this by: -
✓✓Creating Awareness
Fostering Team-play
Adopting a process
• What challenges do owners have to overcome? -✓✓-Baby boomers do not want to
exit
-50% of exits are due to one of the 5 D's (death, disability, divorce, distress,
disagreement)
-Owners are leaving money on the table because they are focused on income
generation, not enterprise value.
• What are the 3 legs of Successful Exit Strategy and why are they important? -
✓✓1:Maximizes transferable value
2: Ensures that the business owner is financially prepared
3:Ensures there is a plan for "What's next"
All three legs need to be equally addressed to have a successful exit. Often the
personal is neglected the most. Having a personal plan can be a powerful motivator.
• What is the Value Maturity Index and what are the 5 Stages? -✓✓There are 5 stages
to create a valuable business: Identify, Protect, Build , Harvest, and Manage.
Progression through these phases using value acceleration increases the value and is
called value maturity. Where you are in these phases is referred to as the value maturity
index.
• What are the 4 c's and why are they important? -✓✓The C refers to Capital the
intangible assets of a company or the company's intellectual capital. They are Human
EXAM QUESTIONS WITH VERIFIED ANSWERS
2026 | Complete Review Pack | A+
• According to the Family Firm Institute, what percentage of family transitions survive
into the second generation ? -✓✓30%
• What are the 5 d's ? -✓✓Divorce, Death, Distress
• Business owners are leaving dollars on the table by not focusing on what? -
✓✓Enterprise value
• The advisor of the future needs to get owners and advisors to make several paradigm
shifts for exit planning and value acceleration to work to the benefit of owners and their
families. What is the first paradigm shift that needs to be made? -✓✓Exit planning is
good business strategy
• What is exit planning planning according to Richard Jackim -✓✓Exit planning asks
and answers all the business, personal financial, legal, and tax questions involved in
transitioning a privately-owned business. It includes contingencies for illness, burnout,
divorce and death. The purpose is to maximize value of the business at the time of exit,
minimize taxes, and ensure the owner is able to accomplish all his personal and
financial goals in the process
• What is exit planning according to Chris Snider? -✓✓Exit planning combines the plan,
concept, effort and process into clear, simple strategy to build a business that is
transferable through strong human, structural, customer and social capital. The future of
you, your family and your business are addressed by exit planning through creating
value today.
• True/False Exit Planning is Simply good business strategy. -✓✓True.
• After a year, of selling the business how many business owners regret the decision? -
✓✓3 out of 4
• How many businesses in the market do not sell? -✓✓70-80%
• How many family owned businesses survive into the 2nd generation? -✓✓30%
• According to 2013 EPi State of owners Readiness Survey, how many owners are not
familiar to their exit options? -✓✓66% are not familiar with exit options
, • According to the EPI State of Owner Readiness Survet, how many owners do not have
a formal advisory team? -✓✓78% have no formal transition advisory teams
• According to the EPI State of Owner Readiness Survey, how many owners have no
written transition plan -✓✓83%
• According to EPI State of Owner Readiness Survey, how many owners have done no
planning at all -✓✓49%
• According to EPI State of Owner Readiness Survey, how many owner have no formal
plan? -✓✓93%
• What amount represents the value of wealth that transfers of approximately 4.5 million
businesses? -✓✓10 trillion dollars
• How many baby boomers plan to transition over the next 10 years? -✓✓76%
• The mission of EPI and CEPAS to change the outcome. CEPAS do this by: -
✓✓Creating Awareness
Fostering Team-play
Adopting a process
• What challenges do owners have to overcome? -✓✓-Baby boomers do not want to
exit
-50% of exits are due to one of the 5 D's (death, disability, divorce, distress,
disagreement)
-Owners are leaving money on the table because they are focused on income
generation, not enterprise value.
• What are the 3 legs of Successful Exit Strategy and why are they important? -
✓✓1:Maximizes transferable value
2: Ensures that the business owner is financially prepared
3:Ensures there is a plan for "What's next"
All three legs need to be equally addressed to have a successful exit. Often the
personal is neglected the most. Having a personal plan can be a powerful motivator.
• What is the Value Maturity Index and what are the 5 Stages? -✓✓There are 5 stages
to create a valuable business: Identify, Protect, Build , Harvest, and Manage.
Progression through these phases using value acceleration increases the value and is
called value maturity. Where you are in these phases is referred to as the value maturity
index.
• What are the 4 c's and why are they important? -✓✓The C refers to Capital the
intangible assets of a company or the company's intellectual capital. They are Human
