CEPA EXAM|COMPLETE STUDY GUIDE WITH HIGH YIELD QUESTIONS AND 100% RIGHT/AUTHENTIC ANSWERS|LATEST 2025,GET A PASS.

__% of owners have no WRITTEN transition plan. - CORRECT ANSWERS️️79 __% have done no planning at all. - CORRECT ANSWERS️️48 __% have no written personal THIRD ACT plan. - CORRECT ANSWERS️️94 __% of owners plan to transition over the next 10 years (representing ____ million businesses and over $___ trillion in wealth). - CORRECT ANSWERS️️76%, 4.5 million, $10 trillion ___ of business owners have no transition plan. - CORRECT ANSWERS️️49% More than __% of businesses that are put on the market do not sell. - CORRECT ANSWERS️️70 Only __% of family-owned businesses transition to the second generation, and only __% survive to the third. - CORRECT ANSWERS️️30%, 12% A Successful Exit Strategy Has Three Legs: - CORRECT ANSWERS️️Maximizes Transferrable Business Value, Ensures Owner is Financially Prepared, and Ensures there is a plan for "What Next?" 5 Stages of the Value Maturity Index - CORRECT ANSWERS️️Identify, Protect, Build, Harvest, and Manage Value The 4 C's - CORRECT ANSWERS️️Human, Structural, Customer, Social Strategic Value factors you control - CORRECT ANSWERS️️Predictable Cash Flow, Clean Balance Sheet, Size Matters! Strategic Value factors you control some of - CORRECT ANSWERS️️Private capital market conditions, Terms/Exit Option, Tangibles (value factors) Traditional accounting systems are setup to provided regular feedback on _____________________, yet your ________________________ are the direct drivers of business attractiveness. - CORRECT ANSWERS️️tangible assets, intangible assets Value Acceleration measures the value of your ________________________. - CORRECT ANSWERS️️intangible assets Value Acceleration is a proven process that focuses on value growth and aligning __________________, __________________, and __________________ goals. - CORRECT ANSWERS️️business, personal, and financial Value Acceleration is a proven process that focuses on ____________________ and aligning business, personal, and financial goals. - CORRECT ANSWERS️️value growth An exit plan asks and answers all the ________________, _______________, _______________, _______________, and ___________ questions involved in transitioning a privately owned business. - CORRECT ANSWERS️️business, personal, financial, legal, and tax Exit Planning combines the __________, ______________, _______________, and _______________ into a clear, simple strategy to build a business that is transferable through strong __________, ______________, _______________, and _______________ capital. - CORRECT ANSWERS️️plan, concept, effort, and process, human, structural, customer, and social ______________________ protects future you from present you; and, vise versa! - CORRECT ANSWERS️️Proper planning Where you will be 5 years from now is determined by ______________________________________ and ___________________________________. - CORRECT ANSWERS️️the books you read and the people you associate with today. The "quarterback" is the ____________________________________________. - CORRECT ANSWERS️️personal financial planning team ___% of business owners do not have a written FINANCIAL plan. - CORRECT ANSWERS️️75 Proper financial planning answers a huge question - What is the ___________________? - CORRECT ANSWERS️️Wealth Gap A first step in financial planning: gather the personal ______________________ data. - CORRECT ANSWERS️️balance sheet 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. - CORRECT ANSWERS️️buy-sell agreement Triggering events may include: - CORRECT ANSWERS️️Death of an owner, Disability of an owner, An offer by an outside party to purchase the owner's interest, Termination of an owner's employment, Divorce of an owner There are many acceptable ways to execute investment plans post-exit. The key is to manage the ______________________ within a framework focused on ________________. - CORRECT ANSWERS️️family expectations, goals. Families without advisors often decide to ___________________. - CORRECT ANSWERS️️do nothing The ______ is one of the greatest wealth building tools if used correctly. - CORRECT ANSWERS️️IRC Systems don't solve problems, ___________ do. - CORRECT ANSWERS️️people You don't have to choose between today and the future. Doing the right things today ensures ________________________________. - CORRECT ANSWERS️️a successful exit in the future When you consider your net worth, your business is the most significant line item on paper; in fact, according to most financial planners, it's like __ to __% of your net worth. - CORRECT ANSWERS️️80 to 90% Business value is not _____________. - CORRECT ANSWERS️️liquid The Value Acceleration Methodology can increase your net worth by a factor of _____________. - CORRECT ANSWERS️️five