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Who should take the AACE-International CCP: Certified Cost Professional (CCP) Exam
Candidate must have at least 6-8 years of work experience to become a Certified Cost Professional (CCP). 4 years of suitable college/academic education are considered acceptable practical experiences of those 8 years. You must make an application for scientific article and comply with the AACE Code of Ethics and the profession of the cost professional. You must also meet the ongoing criteria for certification. If you don't have the experience you need, you may get the Certified Cost Technician (CCT) designation first. CCP exam dumps is the best start towards the preparation of the CCP examination. The CCP training is appropriate for all those who are part of a group that carries out industrial initiatives. The strategy is designed at price managers, project engineers, cost estimators, consultants, project costs engineers, contractual control systems, administrations, purchasing departmental heads, contracting members of staff, work preparedness teams, and all those involved in technical projects.
The training is provided via CCP exam dumps of the AACE certification program and people of the organization variants, followed by the development of the cost engineering framework and overall cost administration. In order to support the significance of the function of cost engineering in projects, the evaluation cycle, methods, classifications and cost management approaches are addressed. In addition, an overview of the whole cost framework covering issues such as planned financial services, financial reporting, process improvement, etc. is provided.
NEW QUESTION # 39 
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 B has as his primary goal to get the project completed and on line as fast as possible, then he would most likely use the ______________type of contract.
- A. Lump sum
- B. Lump sum + incentive
- C. Unit Rate
- D. Cost plus
Answer: B
NEW QUESTION # 40
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. $15,937
- B. $13,168
- C. $15,397
- D. $16,380
Answer: D
NEW QUESTION # 41
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 you buy a lot for $3,000 and sell it for $6,000 at the end of 8 years, what is your annual rate of return?
- A. 8.3%
- B. 9.9%
- C. 10.4%
- D. 9.1%
Answer: D
NEW QUESTION # 42
______________can be defined as the determination of that course of action or combination of alternatives that yields either the lowest cost or the highest profit.
- A. Linear programming
- B. Economic optimization
- C. Dynamic programming
- D. Simulation
Answer: C
NEW QUESTION # 43
What is a basic element of work or a task that must be performed over a given period of time in order to complete a project called?
- A. Commodity
- B. WBS element
- C. Resource
- D. Activity
Answer: D
NEW QUESTION # 44 
The following question requires your selection of CCC/CCE Scenario 2 (2.3.50.1.2) from the right side of your split screen, using the drop down menu, to reference during your response/choice of responses.
9,375 hours have been expended to date. Planned completion at this time is 75%. The project is determined to be 66% complete. What is the current cost performance index (CPI)?
- A. 0.84
- B. 1.14
- C. 0.88
- D. 0.96
Answer: B
NEW QUESTION # 45
In a fixed price contract the:
- A. Contractor has no risk in the project
- B. Owner has all the risk
- C. Contractor is paid for actual costs
- D. Contactor assumes all the performance risk
Answer: D
NEW QUESTION # 46
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.
Which statement best describes the type of information available for a design phase estimate?
- A. Detailed construction drawings, quantity takeoffs, detailed labor hours and material costs applied, quotes from all major subcontractors
- B. Square footage of buildings, factored indirects, types of rides and exhibits identified, utility requirements, conceptual layouts
- C. Utility requirements, detailed building plans and (- specifications, types of rides and exhibits identified, all vendor quotes or estimates received from subcontractors
- D. Home office detail, specific vendor quotes, preliminary quantities with labor and material factors applied
Answer: C
NEW QUESTION # 47
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. Capital reduction
- B. Net loss
- C. Depletion
- D. Depreciation
Answer: C
NEW QUESTION # 48
____________ is the application of total resources ($-workers-supports) and activity durations of the logic diagram.
- A. Forecasting
- B. Modeling
- C. Scheduling
- D. Planning
Answer: C
NEW QUESTION # 49
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 in 12.8 more weeks
- B. Project will be completed in 20 more weeks
- C. Project will be completed in 4 more weeks
- D. Project will be completed this week - on schedule
Answer: C
NEW QUESTION # 50
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 5 - order of magnitude estimate with +50% / -30% accuracy
- B. Class 4 - budget estimate with +30% / -15% accuracy
- C. Class 1 - order of magnitude with +30% / -30% accuracy
- D. Class 2 - definitive estimate with +15%/-5% accuracy
Answer: A
NEW QUESTION # 51
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. $82,000
- B. $70,000
- C. $78,000
- D. $75,000
Answer: D
NEW QUESTION # 52
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. $318,740
- C. $289,370
- D. $265,798
Answer: B
NEW QUESTION # 53
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. Soil data, detailed construction drawings, quantity takeoffs, minimum contingency detailed indirect costs, detailed engineering estimates
- B. Square footage of facilities, factored indirects and home office costs
- C. Preliminary quantities with labor, material, and factors applied, square footage of facilities, minimum contingency detailed indirect costs
- D. Vendor quotes, home office detailed estimate, preliminary quantities with labor, material, and factors applied
Answer: A
NEW QUESTION # 54
Productivity increases with time. This improvement is commonly associated with improvements in efficiency brought about by increased experience and skill levels. What does this scenario describe?
- A. Value engineering
- B. The learning curve
- C. Productivity efficiency factor
- D. Cash flow
Answer: B
NEW QUESTION # 55 
The following question requires your selection of CCC/CCE Scenario 2 (2.3.50.1.2) from the right side of your split screen, using the drop down menu, to reference during your response/choice of responses.
9,375 hours have been expended to date. Planned completion at this time is 75%. The project is determined to be 66% complete. What is the current schedule performance index (SPI)?
- A. 0.84
- B. 1.14
- C. 0.88
- D. 0.96
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.
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 critical path
- C. Recalculate the early start for each activity
- D. Recalculate the early finish for each activity
Answer: B
NEW QUESTION # 57
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AACE International CCP (Certified Cost Professional) Exam is a prestigious certification program designed to recognize the skills and knowledge of cost management professionals. It is administered by AACE International, a non-profit organization that aims to promote excellence in cost engineering, project management, and planning and scheduling disciplines. The CCP certification is recognized worldwide and serves as a benchmark for employers seeking highly skilled professionals in the field of cost management.
AACE International CCP Exam is a rigorous and comprehensive test that covers a wide range of topics related to cost engineering and project management. CCP exam consists of two parts: a multiple-choice test and a written examination. The multiple-choice portion of the exam covers cost estimating, project planning, scheduling, cost control, and financial analysis, while the written test covers project management and leadership.
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