CCP Practice Test Questions Updated 115 Questions
AACE International CCP Dumps - Secret To Pass in First Attempt
The CCP exam covers a broad range of topics such as cost estimating, budgeting, planning, scheduling, risk management, and value engineering. It requires a comprehensive understanding of the cost management processes and tools used in various industries including construction, engineering, government, and manufacturing. CCP exam consists of two parts, a multiple-choice test and a workshop that tests the practical application of cost management principles.
NEW QUESTION # 43
An agricultural corporation that paid 53% in income tax wanted to build a grain elevator designed to last twenty-five (25) years at a cost of $80,000 with no salvage value. Annual income generated would be $22,500 and annual expenditures were to be $12,000.
Answer the question using a straight line depreciation and a 10% interest rate.
The following question requires your selection of CCC/CCE Scenario 17 (4.2.50.1.1) from the right side of your split screen, using the drop down menu, to reference during your response/choice of responses.
What is the 25 year after tax present worth of this project?
- A. $22,533
- B. $(22,533)
- C. $13,738
- D. $137,466
Answer: A
NEW QUESTION # 44
Meetings require:
- A. Goals, an agenda, preparation, relevant discussions, support for your actions and to consider the total physical and human setting of the meeting
- B. Goals, an agenda, preparation, conclusions, control and conversations that are relevant
- C. Goals, an agenda, flipchart, computer projector, laser pointer and consulting with others where appropriate
- D. Goals, an agenda, preparation, control, good listening skills and relevant discussions
Answer: B
NEW QUESTION # 45
Which of the following best describes the concept of total cost management:
- A. An integrating process that maps the fields of practice of cost engineering without linking it to project management, resource management, or accounting
- B. A job cost system for ensuring all aspects of a particular manufacturing process are accumulated completely
- C. The practices and processes utilized to manage the total life cycle cost investment in a portfolio of strategic assets
- D. A method of quantifying construction damages where the total job costs are subtracted from the original bid or estimate to determine the total cost amount for a claim
Answer: A
NEW QUESTION # 46 
The following question requires your selection of CCC/CCE Scenario 28 (3.7.50.1.7) from the right side of your split screen, using the drop down menu, to reference during your response/choice of responses.
If the owner in A has a primary goal of completion within budget, the following contract types with the engineer/contractor would be best:
- A. Engineer - fixed price, contractor fixed price
- B. Engineer fixed price, contactor cost plus
- C. Engineer - cost plus, contractor cost plus
- D. Engineer - cost plus, contractor fixed price
Answer: A
NEW QUESTION # 47
An agricultural corporation that paid 53% in income tax wanted to build a grain elevator designed to last twenty-five (25) years at a cost of $80,000 with no salvage value. Annual income generated would be $22,500 and annual expenditures were to be $12,000.
Answer the question using a straight line depreciation and a 10% interest rate.
The following question requires your selection of CCC/CCE Scenario 17 (4.2.50.1.1) from the right side of your split screen, using the drop down menu, to reference during your response/choice of responses.
Present worth calculations is represented by which of the following equations?
- A. Option C
- B. Option D
- C. Option A
- D. Option B
Answer: B
NEW QUESTION # 48
A major theme park is expanding the existing facility over a five-year period. The design phase will be completed one year after the contract is awarded. Major engineering drawings will be finalized two years after the design contract is awarded and construction will begin three years after the award of the design contract. New, unique ride technology will be used and an estimate will need to be developed to identify these costs that have no historical data.
The recognition of loss of value of a natural resource used in the production process is referred to as:
- A. Depletion
- B. Depreciation
- C. Capital reduction
- D. Net loss
Answer: A
NEW QUESTION # 49
If a project is said to be on a "fast track program/' the fast track method is:
- A. Analyzing the project and specifying the basic approach to be used in its execution; segmenting the project into reasonable number of activities; estimating the time required to perform each activity; placing the activities in time order, considering both sequential and parallel performance
- B. Revising the schedule logic to make it possible to identify constraints of faulty logic; revising the durations in the n p schedule that have been based on assumptions regarding the \hay the work would be performed; revise the resources to work multiple shifts; evaluate the use of overtime
- C. First completing engineering and procurement, then executing construction
- D. Simultaneous working engineering, procurement, and construction, with appropriate overlap from each phase of work so that delays are eliminated and all the work is streamlined into a correct plan of logic/sequence and duration for all of the work
Answer: D
NEW QUESTION # 50
Cost performance index (CPI) is defined by AACE International as: (assume no change in budgeted quantities)
- A. ACWP/BCWS
- B. BCWP/ACWP
- C. BCWS/BCWP
- D. ACWP/BCWP
Answer: B
NEW QUESTION # 51
Money is value. Having money when you need it is very important. Money can also be valuable when used wisely by knowing when to spend and when to conserve. Also, planning now for future expenses can be a plus to the company rather than a debit.
There are several ways to capitalize money and spending. Basically there is the single payment method that has a compound amount factor and a present worth factor. There is the uniform annual series that has a sinking fund factor, capital recovery factor and also the compound amount factor and present worth factor. At this point, we can assume money is worth 10%.
The following question requires your selection of CCC/CCE Scenario 7 (4.8.50.1.1) from the right side of your split screen, using the drop down menu, to reference during your response/choice of responses.
If $10,000 is invested now at 10% compounded annually, what will the investments be worth 10 years from now?
- A. $21,345
- B. $16,180
- C. $29,450
- D. $25,940
Answer: D
NEW QUESTION # 52
____________is defined as the earned work hours or dollars for all accounts divided by the budgeted work hours or dollars for all accounts.
- A. Forecast
- B. Cost to complete
- C. Percent complete
- D. Earned value
Answer: C
NEW QUESTION # 53
The following question requires your selection of CCC/CCE Scenario 28 (3.7.50.1.7) from the right side of your split screen, using the drop down menu, to reference during your response/choice of responses.
An unbalanced bid methodology can best be used by:
- A. Engineer/contractor working for the owner (Plan B)
- B. Subcontractor working for contractor (Plan A or B)
- C. Contractor working directly for engineer (plan A or B)
- D. Engineer working for the owner (Plan A)
Answer: A
NEW QUESTION # 54
____________ is the application of total resources ($-workers-supports) and activity durations of the logic diagram.
- A. Modeling
- B. Forecasting
- C. Scheduling
- D. Planning
Answer: C
NEW QUESTION # 55
A major theme park is expanding the existing facility over a five-year period. The design phase will be completed one year after the contract is awarded. Major engineering drawings will be finalized two years after the design contract is awarded and construction will begin three years after the award of the design contract. New, unique ride technology will be used and an estimate will need to be developed to identify these costs that have no historical data.
Cost engineers who feel completely satisfied and fulfilled by their work as part of a project team are said to have reached the ______________ stage of Maslow's hierarchy of needs.
- A. Need satisfaction
- B. Belonging needs
- C. Self-actualizations
- D. Esteem
Answer: C
NEW QUESTION # 56
AACE International defines _____________as a technique of economic evaluation that sums over a given study period, the costs of initial investment, replacements, operations, and maintenance/repair; expressed in either present or annual value terms.
- A. Risk analysis
- B. Benefit/Cost ratio (B/C) method
- C. Life cycle costs method (LCC)
- D. Net present worth method
Answer: C
NEW QUESTION # 57
A major theme park is expanding the existing facility over a five-year period. The design phase will be completed one year after the contract is awarded. Major engineering drawings will be finalized two years after the design contract is awarded and construction will begin three years after the award of the design contract. New, unique ride technology will be used and an estimate will need to be developed to identify these costs that have no historical data.
In an exit interview, an employee comments that the reason he is leaving the organization is lack of teamwork and cohesion among his co-workers. Which need of Maslow's hierarchy of needs is unmet?
- A. Primary needs
- B. Esteem needs
- C. Belongingness needs
- D. Self-actualization needs
Answer: C
NEW QUESTION # 58
A major theme park is expanding the existing facility over a five-year period. The design phase will be completed one year after the contract is awarded. Major engineering drawings will be finalized two years after the design contract is awarded and construction will begin three years after the award of the design contract. New, unique ride technology will be used and an estimate will need to be developed to identify these costs that have no historical data.
The following question requires your selection of CCC/CCE Scenario 26 (2.5.50.1.2) from the right side of your split screen, using the drop down menu, to reference during your response/choice of responses.
What class of estimate is used for the preliminary design phase of a project?
- A. Class 4 - budget estimate with +30% / -15% accuracy
- B. Class 2 - definitive estimate with +15%/-5% accuracy
- C. Class 5 - order of magnitude estimate with +50% / -30% accuracy
- D. Class 1 - order of magnitude with +30% / -30% accuracy
Answer: C
NEW QUESTION # 59
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