CBB Study Guide 2026
Everything you need to pass the CBB exam in one place: the exam format, every topic to study, real practice questions with explanations, flashcards, and full-length practice tests. Free, no sign-up needed.
📋 CBB Exam Format at a Glance
📚 CBB Topics to Study (22)
✍️ Sample CBB Questions & Answers
1. What is a 'data room' in the context of a business sale?
A data room—often virtual—provides qualified buyers controlled access to sensitive business documents during due diligence.
2. What is the purpose of a 'training and consultation agreement' often included in a business sale?
This agreement defines the scope, duration, and compensation (if any) for the seller's support of the new owner during the transition period.
3. What is 'deal fatigue' and how can a broker help prevent it?
Deal fatigue occurs when prolonged negotiations erode commitment; brokers prevent it by setting deadlines and maintaining regular communication.
4. Which action BEST improves a business's transferability and value before a sale?
Documented SOPs and training manuals create a transferable, scalable business that reduces buyer risk and signals the business can operate without the current owner.
5. What does normalizing a business's financials help a broker accomplish?
Normalization adjusts the financials to reflect what a new owner would realistically earn, making the business more accurately comparable to others.
6. Which document formally requests financing from an SBA lender for a business acquisition?
An SBA loan application requires detailed business financials, personal financial statements, business plan, and acquisition documents.