[UPDATED Dec-2023] Best Value Available Preparation Guide for CCP Exam
1 Full CCP Practice Test and 115 Unique Questions, Get it Now!
The CCP certification exam covers a range of topics including cost estimating, budgeting, cost control, productivity analysis, project risk management, and contract administration. CCP examination also tests a candidate's ability to apply these skills to various industries and scenarios.
NEW QUESTION # 62
Any combination of unique letters, numbers, or blanks, which describes and identifies any activity or task shown on the schedule, is:
- A. Activity ID
- B. Resource
- C. Account number
- D. WBS Code
Answer: A
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.
Fred Fiedler's contingency model suggests that:
- A. between the style of the leader and the demands of the situation
- B. Successful leadership can always be imposed by experienced supervision
- C. Successful leadership depends upon a good match
- D. Leadership styles are just the opposite of the managerial grid model
- E. A relationship oriented leader described the least preferred worker in an unfavorable light
Answer: A
NEW QUESTION # 64
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. Net loss
- C. Capital reduction
- D. Depreciation
Answer: A
NEW QUESTION # 65
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 many years will it take to earn $400 in interest on $800 at 4% compounded annually?
- A. 10 years
- B. 12 years
- C. 13 years
- D. 11 years
Answer: A
NEW QUESTION # 66
What do you call a person authorized to represent another (the principal) in some capacity? He/she can only act within this capacity or "scope of authority" to bind the principal.
- A. Engineer
- B. Project Manager
- C. Agent
- D. Alternate
Answer: C
NEW QUESTION # 67
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. Performance bond
- B. Bid bond
- C. Liability insurance
- D. Surety bond
Answer: A
NEW QUESTION # 68
Which of the following is NOT a type of float?
- A. Total
- B. Negative
- C. Open end
- D. Free
Answer: C
NEW QUESTION # 69
Two of the most important things to know when planning a speech or lecture are the ______________and______________ of your audience.
- A. Background, attitude
- B. Political preference, sense of humor
- C. Culture, understanding
- D. Motivation, professionalism
Answer: C
NEW QUESTION # 70
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. Belongingness needs
- C. Self-actualization needs
- D. Esteem needs
Answer: B
NEW QUESTION # 71 
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. Cost plus
- D. Unit Rate
Answer: B
NEW QUESTION # 72
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 is NOT an advantage of the critical path method:
- A. The ability to identify activities that cannot have their schedules slip if the desired project end date is to be achieved
- B. The ability to determine cost overruns of critical path activities
- C. Reveals activities that additional resources need to be dedicated toward
- D. The ability to show slippage in the progress of key activities
Answer: B
NEW QUESTION # 73
____________ is the application of total resources ($-workers-supports) and activity durations of the logic diagram.
- A. Scheduling
- B. Forecasting
- C. Planning
- D. Modeling
Answer: A
NEW QUESTION # 74 
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 relative frequency of unit costs amounting to $55.00/unit?
- A. 0
- B. 338.5
- C. $55.00
- D. 22.22%
Answer: D
NEW QUESTION # 75 
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.
10,278 hours have been expended to date. The CPI at this point in time is 0.93. SPI is
1.03. How many hours have been earned?
- A. 9,559
- B. 9,979
- C. 10,586
- D. 11,052
Answer: A
NEW QUESTION # 76
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.
According to Maslow's hierarchy of needs, giving the employees an award that acknowledges their achievements is most likely to satisfy which level of need?
- A. Self-actualization
- B. Power needs
- C. Safety needs
- D. Belonging needs
Answer: A
NEW QUESTION # 77
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.
Assuming a 53% tax rate, how much cumulative depreciation will have been claimed at the end of the grain elevator's life span?
- A. None
- B. $37,600
- C. $80,000
- D. $42,400
Answer: C
NEW QUESTION # 78
The goal of listening is to:
- A. Improve communication
- B. Analyze what the speaker is saying
- C. Find out what is going on
- D. Have time to formulate your thoughts on the subject
Answer: A
NEW QUESTION # 79
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. Life cycle costs method (LCC)
- C. Net present worth method
- D. Benefit/Cost ratio (B/C) method
Answer: B
NEW QUESTION # 80
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. Self-actualizations
- B. Need satisfaction
- C. Esteem
- D. Belonging needs
Answer: A
NEW QUESTION # 81
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. $16,380
- C. $16,578
- D. $15,937
Answer: A
NEW QUESTION # 82
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. $78,000
- B. $75,000
- C. $82,000
- D. $70,000
Answer: B
NEW QUESTION # 83
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 should be included in the life-cycle cost analysis of a power plant?
- A. Resources, work activities, final cost objects
- B. Factory expenses, distribution expenses, mark-up
- C. Capacity factor, end product units, physical dimensions
- D. Construction cost, operating cost, maintenance cost
Answer: D
NEW QUESTION # 84
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The CCP certification is a mark of distinction for professionals working in cost engineering. It demonstrates that professionals have the knowledge and skills needed to manage cost engineering projects effectively. Certified Cost Professional (CCP) Exam certification is recognized globally and is considered by many employers to be a necessary qualification for project management and cost engineering positions. With a CCP certification, professionals can expect to see an increase in their earning potential and job opportunities.
The Certified Cost Professional (CCP) certification is an industry-standard that demonstrates proficiency in the fields of project and cost management. It is offered by AACE International, which is the largest professional association for cost engineers, estimators, schedulers, and project managers. The CCP certification is recognized globally as a benchmark of excellence and commitment to the profession.
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