[Nov-2023] CCP exam torrent AACE International study guide
Use Valid New CCP Test Notes & CCP Valid Exam Guide
How to book the AACE-International CCP: Certified Cost Professional (CCP) Exam
Follow the steps mentioned below to book the AACE-International CCP: Certified Cost Professional (CCP) Exam:
- Step 1: Visit the AACE's website by clicking here
- Step 2: Create a new account or log in to an existing account
- Step 3: Select your professional exam
- Step 4: Complete the required course and take CCP practice test
- Step 5: Fill the application and submit all required documents
- Step 6: Schedule your exam by following the instructions on the website
The Certified Cost Professional (CCP) is a respected certification in the field of project cost management. Certified Cost Professional (CCP) Exam certification is offered by AACE International – a professional association for cost professionals in various industries, including engineering and construction. The CCP certification exam is an essential step for candidates who want to validate their knowledge, skills, and expertise in cost management.
NEW QUESTION # 34
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. Benefit/Cost ratio (B/C) method
- B. Life cycle costs method (LCC)
- C. Risk analysis
- D. Net present worth method
Answer: B
NEW QUESTION # 35
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 "book value (BV) of the asset at the end of 5 years?
- A. $60,000
- B. $64,000
- C. $3,200
- D. $16,000
Answer: B
NEW QUESTION # 36 
The following question requires your selection of CCC/CCE Scenario 6 (2.7.50.1.3) from the right side of your split screen, using the drop down menu, to reference during your response/choice of responses.
What is the range of estimated quantities?
- A. $48.22
- B. $26.78 to $75.00
- C. $45 to $530
- D. $485
Answer: C
NEW QUESTION # 37
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 assure 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 the company needs to repay a loan of $100,000 in 10 uniform annual payments, how much will each payment be?
- A. $16,273
- B. $16,578
- C. $15,937
- D. $16,380
Answer: A
NEW QUESTION # 38
Budgeted cost of work scheduled is all of the following except:
- A. Includes portion of the budget for level-of-effort work
- B. Total costs incurred in accomplishing work in a given-time period
- C. Sum of the budgets for work scheduled
- D. Baseline for performance measurement
Answer: A
NEW QUESTION # 39
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.
Which of the following is least likely to improve a large earthmoving contractor's productivity?
- A. Using apprentice operators to save labor costs
- B. Replacing old excavators with new, larger excavators
- C. Remove underground hazards prior to excavation work
- D. Starting summer work in the early morning hours to minimize work during peak heat periods of the day
Answer: D
NEW QUESTION # 40
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.
Which of the following would NOT be considered part of a project cost and schedule forecast?
- A. Usage of contingency
- B. Current trends of time and money
- C. Peripherals report
- D. Changes to the project execution plan
Answer: C
NEW QUESTION # 41
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 # 42
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.
Profits that could not be formally recognized during a specific financial accounting period because the goods and services did not satisfy all the customer's requirements are:
- A. Lost profits
- B. Postponed profits
- C. Incurred profits
- D. Marginal profits
Answer: B
NEW QUESTION # 43 
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.
Given a unit price contract between the owner and contractor, each assumes the following:
- A. Bid unit rate, owner quantities can exceed estimate range Contractor can perform above
- B. Contractor can perform at or below bid unit rate, owner quantities are within estimate range
- C. Bid unit rate, owner quantities are within estimate range
- D. Contractor can perform at or below bid unit rate, owner quantities can exceed estimate range
Answer: B
NEW QUESTION # 44
____________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. Earned value
- D. Percent complete
Answer: D
NEW QUESTION # 45
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 project scheduler left the company and has left unfinished work. You have been hired as the new project scheduler and must update the existing schedule. What will be your first task?
- A. Update the remaining duration for each activity
- B. Recalculate the early finish for each activity
- C. Recalculate the critical path
- D. Recalculate the early start for each activity
Answer: C
NEW QUESTION # 46
The goal of listening is to:
- A. Have time to formulate your thoughts on the subject
- B. Analyze what the speaker is saying
- C. Find out what is going on
- D. Improve communication
Answer: D
NEW QUESTION # 47
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 assure 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 $20,000 is invested at the end of each fiscal year for the next 10 years, how much would our total investment be worth assuming the interest is at 10%?
- A. $420,236
- B. $289,370
- C. $318,740
- D. $265,798
Answer: C
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.
Which of the following methods a used for creating critical path schedules:
- A. Precedence and arrow diagram methods only
- B. Arrow diagram method
- C. Precedence diagram method
- D. Gantt chart (bar chart) method
Answer: A
NEW QUESTION # 49
A contract clause that provides the owner with the right to terminate the contract irrespective of the general contractor's liability is:
- A. Substantial completion
- B. Termination of contract - convenience
- C. Breach of contract
- D. Termination of contract - default
Answer: B
NEW QUESTION # 50
The four steps to writing are:
- A. Abstract, body conclusion, bibliography
- B. Plan, write, cool, revise
- C. Start, write, complete, revise
- D. Introduction, paragraph, conclusion, works cited
Answer: B
NEW QUESTION # 51
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 - cost plus, contractor fixed price
- B. Engineer - fixed price, contractor fixed price
- C. Engineer - cost plus, contractor cost plus
- D. Engineer fixed price, contactor cost plus
Answer: B
NEW QUESTION # 52 
The following question requires your selection of CCC/CCE Scenario 4 (2.7.50.1.1) from the right side of your split screen, using the drop down menu, to reference during your response/choice of responses.
What is the cost index value of copper at the end of Year 2? (rounded to 2 decimal positions)
- A. 4.24
- B. 4.62
- C. 4.10
- D. 4.31
Answer: D
NEW QUESTION # 53
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The Certified Cost Professional (CCP) Certification Exam is a globally recognized credential offered by the American Association of Cost Engineers (AACE) International. Certified Cost Professional (CCP) Exam certification is designed to measure an individual's knowledge of cost management and project controls, as well as the ability to apply that knowledge in practice. CCP exam is suitable for those who have worked in the cost management field for a minimum of five years.
CCP Exam questions and answers: https://www.itexamreview.com/CCP-exam-dumps.html
CCP Actual Questions Answers PDF 100% Cover Real Exam Questions: https://drive.google.com/open?id=1HrgFEstedqYeqarFnxk8bgDvGyVi4DoQ
