Page 1 of 26
CEPA EXAM AND STUDY GUIDE NEWEST 2025 TEST
BANK| COMPLETE 600 REAL EXAM QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED ANSWERS)
GRADED A+| CERTIFIED EXIT PLANNING ADVISOR
(CEPA) EXAM PREP 2025 (BRAND NEW!!)
Fair Market Value .....ANSWER..... valuation that assumes
hypothetical buyers and sellers
buy-sell agreement .....ANSWER..... This document 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
Intermediated Installment Sale Trust .....ANSWER..... This is used
when you sell an asset to a trust and receive the payments for it
over time. This trust can defer capital gains taxes on the sale of
almost any type of highly appreciated asset.
,Page 2 of 26
When they have high-basis assets and are looking to transfer
those assets outside their estate .....ANSWER..... When should a
client use an Intentionally Defective Grantor Trust?
Intentionally Defective Grantor Trust (IDGT) .....ANSWER..... an
estate planning tool designed to help individuals manage the tax
treatment of certain assets. It allows assets to be excluded from
the grantor's estate for estate tax purposes, but it keeps the
income tax responsibilities with the grantor.
Gifts, Passions, Values .....ANSWER..... A business owner's purpose
should be made up of...
organizing and creating your Action Plans .....ANSWER..... your
first 90-day sprint will most likely be dedicated to...
3-10 years out .....ANSWER..... Vision should be...
90 days and annual .....ANSWER..... themes should be this often...
90 days .....ANSWER..... actions are scoped to what time frame?
, Page 3 of 26
< 90 days .....ANSWER..... tasks are scoped to what time frame?
30 days or less .....ANSWER..... milestones are scoped to what
time frame?
Business Planning Pyramid or the 4Cs .....ANSWER..... what can
be used as a guide to organize your business themes?
no more than 5 personal and 5 business actions to implement in
90-day sprints. these should be prioritized correctly. de-risk first
.....ANSWER..... when creating your action plan, the goal is to
start by...
De-risking, Strategy, efficiency, growth, culture .....ANSWER.....
Order of Priorities for Action Plan
completed two 90-day sprints successfully (probably 9-12
months in) .....ANSWER..... the book recommend deferring
efficiency and growth initiatives until you have...
CEPA EXAM AND STUDY GUIDE NEWEST 2025 TEST
BANK| COMPLETE 600 REAL EXAM QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED ANSWERS)
GRADED A+| CERTIFIED EXIT PLANNING ADVISOR
(CEPA) EXAM PREP 2025 (BRAND NEW!!)
Fair Market Value .....ANSWER..... valuation that assumes
hypothetical buyers and sellers
buy-sell agreement .....ANSWER..... This document 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
Intermediated Installment Sale Trust .....ANSWER..... This is used
when you sell an asset to a trust and receive the payments for it
over time. This trust can defer capital gains taxes on the sale of
almost any type of highly appreciated asset.
,Page 2 of 26
When they have high-basis assets and are looking to transfer
those assets outside their estate .....ANSWER..... When should a
client use an Intentionally Defective Grantor Trust?
Intentionally Defective Grantor Trust (IDGT) .....ANSWER..... an
estate planning tool designed to help individuals manage the tax
treatment of certain assets. It allows assets to be excluded from
the grantor's estate for estate tax purposes, but it keeps the
income tax responsibilities with the grantor.
Gifts, Passions, Values .....ANSWER..... A business owner's purpose
should be made up of...
organizing and creating your Action Plans .....ANSWER..... your
first 90-day sprint will most likely be dedicated to...
3-10 years out .....ANSWER..... Vision should be...
90 days and annual .....ANSWER..... themes should be this often...
90 days .....ANSWER..... actions are scoped to what time frame?
, Page 3 of 26
< 90 days .....ANSWER..... tasks are scoped to what time frame?
30 days or less .....ANSWER..... milestones are scoped to what
time frame?
Business Planning Pyramid or the 4Cs .....ANSWER..... what can
be used as a guide to organize your business themes?
no more than 5 personal and 5 business actions to implement in
90-day sprints. these should be prioritized correctly. de-risk first
.....ANSWER..... when creating your action plan, the goal is to
start by...
De-risking, Strategy, efficiency, growth, culture .....ANSWER.....
Order of Priorities for Action Plan
completed two 90-day sprints successfully (probably 9-12
months in) .....ANSWER..... the book recommend deferring
efficiency and growth initiatives until you have...
