CEPA (Certified Exit
Planning Advisor) Exam
Prep
2026-2027
Master Exam Prep Bundle
(Verified Questions & Answers)
A+ Grade Guaranteed
,What is the calculation for Recasted EBITDA? Addbacks + EBITDA = Recasted EBITDA
What does EBITDA stand for? Earnings Before Interest, Taxes, Depreciation, & Amortization
What are the three gaps within the Value Acceleration Wealth Gap, Value Gap, & Profit Gap
Methodology?
What are the Five Stages of Value Maturity in order? Identify, Protect, Build, Harvest, Manage
In the Five Stages of Value Maturity, what occurs in the Identify and asses the business value. Understand how ready and attractive the
"Identify" stage? business is. What is the current value? What is it's potential value? What are the
gaps?
What are considered the "Value Creation" stages within Protect Value and Build Value
the Five Stages of Value Maturity?
In the Five Stages of Value Maturity, what occurs in the Protect what you have because "build" means more risk. Make sure the right
"Protect" stage? systems are in place: the right financial advisor, right financial plan, documented
standard operating procedures within the business, insurance, etc. Protect always
comes before Build. Non-strategic actions are ALWAYS before strategic actions.
In the Five Stages of Value Maturity, what occurs in the This is made up of strategic actions including culture building, communication
"Build" stage? building, personnel changes, new products/improvements, etc.
In the Five Stages of Value Maturity, what occurs in the This is when the owner exits the company and harvests its value
"Harvest" stage?
Simply put, what is exit planning? Good Business strategy
What are the Four intangible Capitals or "Four C's"? Human Capital, Structural Capital, Customer Capital, & Social Capital
How much of a business' value (in percentage) is trapped 80%
inside the four intangible capitals or "Four C's"?
What is Human Capital? It's the people in the business. Employee tenure, experience / talent level,
management team succession plan, management team strength, etc.
What is Structural Capital? The most robust of the "Four C's", this includes everything from the real estate,
intellectual property, equipment, process & documentation, IT, systems (including
financial & accounting systems), etc.
What is Customer Captial? Depth of customer relationships, customer entanglement, customer concentration /
diversification, contracts, etc.
, What is Social Capital? Culture within & outside the company. How people relate outside of the company.
This is developed over time after all other intangible capitals are
established/improved.
What are the three gates (in order) of the Value Discover, Prepare, & Decide
Acceleration Methodology?
What are the Three Legs of the Stool? Business, Financial, & Personal
What is the Wealth Gap? Understanding the owner's wealth goal (how much money they'll need to fulfill
personal needs) and the current value of their assets (not including their business).
The gap or difference between these two is usually filled by the business' value.
What is the Value Gap? The difference between the owner's current business value and the Best-In-Class
business value.
What is the Profit Gap? The difference between the owner's current business profit (or recasted EBITDA)
and the Best-In-Class business profit (or recasted EBITDA)
The two concurrent paths are in which gate within the The Prepare Gate
Value Acceleration Methodology?
What are the two concurrent paths within the Prepare The risk mitigation (De-risk) / business improvement path
Gate?
AND
The personal/financial ("Vision") path
What is the ONE goal of the Value Acceleration To drive value across all three legs of the stool (business, financial & personal)
Methodology?
How much of an owner's wealth (in percentage) is locked 80-90%
in their business?
What's the difference between a Lifestyle Business and Lifestyle business = good income; not transferrable
Value Creator Business?
Value creator business = good income; transferable (owners treat their business like
an asset)
Most owners don't address what kind of planning? personal planning
What kind of planning could be the key to making an exit personal planning
successful?
What is the number one reason deals fail? seller's cold feet
Planning Advisor) Exam
Prep
2026-2027
Master Exam Prep Bundle
(Verified Questions & Answers)
A+ Grade Guaranteed
,What is the calculation for Recasted EBITDA? Addbacks + EBITDA = Recasted EBITDA
What does EBITDA stand for? Earnings Before Interest, Taxes, Depreciation, & Amortization
What are the three gaps within the Value Acceleration Wealth Gap, Value Gap, & Profit Gap
Methodology?
What are the Five Stages of Value Maturity in order? Identify, Protect, Build, Harvest, Manage
In the Five Stages of Value Maturity, what occurs in the Identify and asses the business value. Understand how ready and attractive the
"Identify" stage? business is. What is the current value? What is it's potential value? What are the
gaps?
What are considered the "Value Creation" stages within Protect Value and Build Value
the Five Stages of Value Maturity?
In the Five Stages of Value Maturity, what occurs in the Protect what you have because "build" means more risk. Make sure the right
"Protect" stage? systems are in place: the right financial advisor, right financial plan, documented
standard operating procedures within the business, insurance, etc. Protect always
comes before Build. Non-strategic actions are ALWAYS before strategic actions.
In the Five Stages of Value Maturity, what occurs in the This is made up of strategic actions including culture building, communication
"Build" stage? building, personnel changes, new products/improvements, etc.
In the Five Stages of Value Maturity, what occurs in the This is when the owner exits the company and harvests its value
"Harvest" stage?
Simply put, what is exit planning? Good Business strategy
What are the Four intangible Capitals or "Four C's"? Human Capital, Structural Capital, Customer Capital, & Social Capital
How much of a business' value (in percentage) is trapped 80%
inside the four intangible capitals or "Four C's"?
What is Human Capital? It's the people in the business. Employee tenure, experience / talent level,
management team succession plan, management team strength, etc.
What is Structural Capital? The most robust of the "Four C's", this includes everything from the real estate,
intellectual property, equipment, process & documentation, IT, systems (including
financial & accounting systems), etc.
What is Customer Captial? Depth of customer relationships, customer entanglement, customer concentration /
diversification, contracts, etc.
, What is Social Capital? Culture within & outside the company. How people relate outside of the company.
This is developed over time after all other intangible capitals are
established/improved.
What are the three gates (in order) of the Value Discover, Prepare, & Decide
Acceleration Methodology?
What are the Three Legs of the Stool? Business, Financial, & Personal
What is the Wealth Gap? Understanding the owner's wealth goal (how much money they'll need to fulfill
personal needs) and the current value of their assets (not including their business).
The gap or difference between these two is usually filled by the business' value.
What is the Value Gap? The difference between the owner's current business value and the Best-In-Class
business value.
What is the Profit Gap? The difference between the owner's current business profit (or recasted EBITDA)
and the Best-In-Class business profit (or recasted EBITDA)
The two concurrent paths are in which gate within the The Prepare Gate
Value Acceleration Methodology?
What are the two concurrent paths within the Prepare The risk mitigation (De-risk) / business improvement path
Gate?
AND
The personal/financial ("Vision") path
What is the ONE goal of the Value Acceleration To drive value across all three legs of the stool (business, financial & personal)
Methodology?
How much of an owner's wealth (in percentage) is locked 80-90%
in their business?
What's the difference between a Lifestyle Business and Lifestyle business = good income; not transferrable
Value Creator Business?
Value creator business = good income; transferable (owners treat their business like
an asset)
Most owners don't address what kind of planning? personal planning
What kind of planning could be the key to making an exit personal planning
successful?
What is the number one reason deals fail? seller's cold feet
