[Dec-2023] AACE Certification CCP Exam Practice Dumps
2023 CCP Premium Files Test pdf - Free Dumps Collection
NEW QUESTION # 15 
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. Cost plus
- C. Unit Rate
- D. Lump sum + incentive
Answer: D
NEW QUESTION # 16
A contract clause that provides the owner with the right to terminate the contract irrespective of the general contractor's liability is:
- A. Termination of contract - convenience
- B. Termination of contract - default
- C. Substantial completion
- D. Breach of contract
Answer: A
NEW QUESTION # 17
Meetings require:
- A. Goals, an agenda, preparation, control, good listening skills and relevant discussions
- 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, relevant discussions, support for your actions and to consider the total physical and human setting of the meeting
Answer: B
NEW QUESTION # 18 
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.
At the end of Year 3, steel prices will have increased by what percentage over today's price? (round to 1 decimal)
- A. 8.0%
- B. 8.2%
- C. 4.6%
- D. 8.7%
Answer: A
NEW QUESTION # 19
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. Adjust known data from existing rides
- B. Use historical data from past projects
- C. Break down the technology into components
- D. Call vendors for quotes
Answer: A
NEW QUESTION # 20
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. The learning curve
- B. Cash flow
- C. Value engineering
- D. Productivity efficiency factor
Answer: A
NEW QUESTION # 21
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. Project Manager
- B. Engineer
- C. Agent
- D. Alternate
Answer: C
NEW QUESTION # 22
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. Minimum attractive rate of return
- B. Continuous compounding rate
- C. Simple interest rate
- D. Nominal interest rate
Answer: D
NEW QUESTION # 23
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 2 - definitive estimate with +15%/-5% accuracy
- B. Class 1 - order of magnitude with +30% / -30% accuracy
- C. Class 4 - budget estimate with +30% / -15% accuracy
- D. Class 5 - order of magnitude estimate with +50% / -30% accuracy
Answer: D
NEW QUESTION # 24 
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. $140,000
- C. $210,000
- D. $875,000
Answer: B
NEW QUESTION # 25
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. Marginal profits
- D. Incurred profits
Answer: B
NEW QUESTION # 26
The four steps to writing are:
- A. Introduction, paragraph, conclusion, works cited
- B. Plan, write, cool, revise
- C. Abstract, body conclusion, bibliography
- D. Start, write, complete, revise
Answer: B
NEW QUESTION # 27
____________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 # 28
A bond that guarantees the bidder will enter into a contract on the basis of his/her bid is referred to as:
- A. Performance bond
- B. Bid bond
- C. Surety bond
- D. Liability bond
Answer: B
NEW QUESTION # 29 
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 from Atlanta, GA?
- A. 33.33%
- B. 0
- C. $40.59
- D. $48.33
Answer: A
NEW QUESTION # 30 
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. Based on current trends, how many hours will be expended at project completion?
- A. 14,201
- B. 12,000
- C. 16,215
- D. 10,526
Answer: D
NEW QUESTION # 31 
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.
At the end of 30 months, the final price for the piece of equipment will be:
- A. $328,810
- B. $375,658
- C. $378,750
- D. $370,710
Answer: B
NEW QUESTION # 32
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. Capacity factor, end product units, physical dimensions
- B. Factory expenses, distribution expenses, mark-up
- C. Construction cost, operating cost, maintenance cost
- D. Resources, work activities, final cost objects
Answer: C
NEW QUESTION # 33
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. Subject to a well-conceived quality control plan
- C. To maximize the total long-term economic return
- D. To balance opportunities and risks
Answer: C
NEW QUESTION # 34
Two of the most important things to know when planning a speech or lecture are the ______________and______________ of your audience.
- A. Culture, understanding
- B. Background, attitude
- C. Motivation, professionalism
- D. Political preference, sense of humor
Answer: A
NEW QUESTION # 35
Which of the following is NOT a type of float?
- A. Total
- B. Negative
- C. Free
- D. Open end
Answer: D
NEW QUESTION # 36
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. Esteem needs
- D. Belongingness needs
Answer: D
NEW QUESTION # 37
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