Exam (elaborations)
CEPA Study Set – Questions & Detailed Answers
- Course
- Institution
CEPA Study Set – Questions & Detailed Answers
[Show more]
Seller
Follow
LeCrae
Reviews received
Content preview
CEPA Study Set – Questions & Detailed AnswersValue Accerelation Methodology 3 Gates Right Ans - 1. Discover
2. Prepare
3. Decide
Hint: The DePutY accelerated after he saw me
Discover Gate Items Right Ans - 1. Conduct an Annual Business Valuation
2. Assess Personal, Financial, and Business
Prepare Gate Items Right Ans - 1. Personal and Financial Planning
2. Business Improvements
Both of these factor into (i) Assembling Proof and (ii) Prepare Master Plan
Decide Gate Items Right Ans - 1. Keep (continue to grow)
2. Sell (think exit options, increasing earnings, decreasing debt)
Triggering Event Right Ans - A Personal, Financial, and Business
assessment correlated to the business Range of Value
Goals should be S.M.A.R.T. Describe letters Right Ans - o Specific: Want
business go to go from $1MM to $2MM by doing X.
o Measurable: Want to have $100K/yr.
o Aspirational: Want to retire to spend more time with spouse
o Realistic: Can't triple in 5 months.
o Time-Based: Want to transfer business in 10 years.
One personal theme should be S.T.E.P Right Ans - Spiritual
Things
Experiences
People
Four words to test owners vision Right Ans - Belief
Passion
Opportunity
Focus
, Hint: Many FOBs (FOCUS, OPPORTUNITY, BELIEF) have VISION and PASSION
Four Cornerstones of Relentless Execution Right Ans - 1. Vision
2. Alignment
3. Accountability
4. Rhythm
Hint: VAAR (value at risk) is decreased with relentless execution
What is Workshop and benefits (don't need to know all 7 but have general
idea) Right Ans -
3 Legs of Stool Right Ans - 1. Maximize Business Value
2. Personal Financial Planning
3. Life after Business planning
ESOP Right Ans -
What percentage of privately held businesses that are offered for sale each
year ultimately do not sell? Right Ans - 80%
According to the Family Firm Institute, what percentage of family transitions
survive into the second generation? Right Ans - 30%
According to EPI's first national State of Owner Readiness Survey, what
percentage of business owners have done no exit planning at all? Right Ans
- 49%
5 D's Right Ans - Death.
Disability.
Divorce.
Disagreement.
Distress.
Business owners are leaving dollars on the table because they are not focusing
on what? Right Ans - C
Enterprise value
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller LeCrae. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for CA$14.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
78252 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now