[2022] Use Valid New CCP Test Notes & CCP Valid Exam Guide
CCP Actual Questions Answers PDF 100% Cover Real Exam Questions
The benefit of obtaining the AACE-International CCP: Certified Cost Professional (CCP) Exam Certification
For over thirty years, certifications provided by the Association for Cost Engineering Advancement (AACE) have been a hallmark of distinction and more and more companies need this certification as a requirement for employment. CCP is one of the widely recognized AACE certifications covering topics relating to project planning and planning. A qualification from AACE also leads to better acceptance by pairs and improves the chances of employment and income.
While a licensed professional engineer is generally considered to be “certified” in any field in which he or she works, it's a national mood for both licensed and non-licensed engineers to require certification of specialty disciplines. A positive reaction to the increasing strength of our software tools in teaching, theory, and practice and qualification governed by our professional organizations, including AACE and the CCP examination mentioned above.
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.
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 information is needed to develop a Class 2 definitive estimate?
- A. Vendor quotes, home office detailed estimate, preliminary quantities with labor, material, and factors applied
- B. Soil data, detailed construction drawings, quantity takeoffs, minimum contingency detailed indirect costs, detailed engineering estimates
- C. Square footage of facilities, factored indirects and home office costs
- D. Preliminary quantities with labor, material, and factors applied, square footage of facilities, minimum contingency detailed indirect costs
Answer: B
NEW QUESTION 56
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. Incurred profits
- C. Marginal profits
- D. Postponed profits
Answer: D
NEW QUESTION 57
What is executed in connection with a contract and secures the performance and fulfillment of all the undertakings, covenants, terms, conditions and agreements contained in the contract?
- A. Liability insurance
- B. Performance bond
- C. Bid bond
- D. Surety bond
Answer: B
NEW QUESTION 58 
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 of manufacturing labor for the piece of equipment today?
- A. $105,000
- B. $875,000
- C. $210,000
- D. $140,000
Answer: D
NEW QUESTION 59
Which of the following is NOT a type of float?
- A. Open end
- B. Free
- C. Negative
- D. Total
Answer: A
NEW QUESTION 60
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 interest rates disregards the effects of compounding periods that occur more frequent than annually?
- A. Nominal interest rate
- B. Minimum attractive rate of return
- C. Continuous compounding rate
- D. Simple interest rate
Answer: A
NEW QUESTION 61
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.
If $100,000 is needed to purchase a piece of equipment 3 years from now, how much money needs to be invested today assuming a 10% rate of return (rounded to the nearest thousand)?
- A. $75,000
- B. $82,000
- C. $78,000
- D. $70,000
Answer: A
NEW QUESTION 62
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.
Why is a +/- notation necessary when developing an estimate?
- A. It makes up for the lack of time to develop a real estimate
- B. Contingency cushion
- C. There are unknowns that affect the final cost of a project
- D. It is a government requirement
Answer: C
NEW QUESTION 63
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.
You are reporting on a roadway project, which was estimated to be 10 miles of road. It was scheduled to be completed in 16 weeks, which is this week. According to your calculations, the project has a schedule performance index of 0.80. What would you advise the management about the scheduled completion date?
- A. Project will be completed this week - on schedule
- B. Project will be completed in 12.8 more weeks
- C. Project will be completed in 20 more weeks
- D. Project will be completed in 4 more weeks
Answer: D
NEW QUESTION 64
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.
Five years from now it is required the company have $100,000. How much money should be invested at the end of each year to reach this?
- A. $16,380
- B. $13,168
- C. $15,397
- D. $15,937
Answer: A
NEW QUESTION 65
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.
Resource planning must take all of the following into account except:
- A. Types of materials, equipment and labor skills required to complete the project
- B. Earned value techniques established for the project
- C. Time available to complete the project
- D. Cash flow (expenditures) limitations for completing work on the project
Answer: B
NEW QUESTION 66 
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. 4.31
- B. 4.24
- C. 4.10
- D. 4.62
Answer: A
NEW QUESTION 67
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.
How much money should be set aside today to have $20,000 available eight (8) years from now if the interest rate is 6% compounded annually?
- A. $13,515
- B. $12,550
- C. $29,600
- D. $31,875
Answer: B
NEW QUESTION 68
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.
Fred Fiedler's contingency model suggests that:
- A. Successful leadership can always be imposed by experienced supervision
- B. between the style of the leader and the demands of the situation
- C. Leadership styles are just the opposite of the managerial grid model
- D. Successful leadership depends upon a good match
- E. A relationship oriented leader described the least preferred worker in an unfavorable light
Answer: B
NEW QUESTION 69
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. Self-actualization needs
- C. Belongingness needs
- D. Esteem needs
Answer: C
NEW QUESTION 70
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. $16,380
- B. $16,273
- C. $16,578
- D. $15,937
Answer: B
NEW QUESTION 71
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.
Select the statement that best describes the method to estimate the cost of the new rides:
- A. Break down the technology into components
- B. Use historical data from past projects
- C. Call vendors for quotes
- D. Adjust known data from existing rides
Answer: D
NEW QUESTION 72
A systematic coding structure for organizing and managing scope, assets, cost, resources, work and schedule activity information is a______________.
- A. Cost breakdown structure
- B. Code of accounts
- C. Cost estimate classification
- D. Schedule identification number
Answer: B
NEW QUESTION 73 
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. Contractor working directly for engineer (plan A or B)
- B. Subcontractor working for contractor (Plan A or B)
- C. Engineer/contractor working for the owner (Plan B)
- D. Engineer working for the owner (Plan A)
Answer: C
NEW QUESTION 74
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 main financial objective of many enterprises is:
- A. Dependent on the backlog projects and the availability of resources
- B. To maximize the total long-term economic return
- C. To balance opportunities and risks
- D. Subject to a well-conceived quality control plan
Answer: B
NEW QUESTION 75
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