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CCP Practice Test

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Ccp practice test

Pass CCP Certified Cost Professional exam in just 24HOURS!

100% REAL EXAM QUESTIONSANSWERS

CCP Certified CostProfessional

Buy Complete Questions Answers Filefrom

http://www.exams4sure.com/AACE-International/CCP-practice-exam-dumps.html

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SampleQuestions


Ccp practice test

Question No1:

A bond that guarantees the bidder will enter into a contract on the basis of his/her bid is referred toas?

Suretybond

Performancebond

Bidbond

Liabilitybond

Answer:C

Question No2:

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% interestrate.

Which of the following interest rates disregards the effects of compounding periods that occur more frequent thanannually?

Continuous compoundingrate

Simple interestrate

Minimum attractive rate ofreturn

Nominal interestrate

Answer: D Question No3:

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 theprincipal.

Engineer

Alternate

ProjectManager

Agent

Answer:D


Ccp practice test

Question No4:

A concrete slab measuring 10 feet wide by 13.5 feet long by 6 inches deep is to be installed. How many cubic yards of concrete will berequired?

3.0 cubicyards

2.0 cubicyards

3.5 cubicyards

2.5 cubicyards

Answer:D

Question No5:

The process of stating goals and determining the most effective way of reaching them is the definitionfor:

Implementing

MissionStatement

Managing

Planning

Answer: D Question No6:

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 ncome 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 nearestthousand)?

A. $78,000 B. $70,000 C. $75,000 D. $82,000

Answer:C


Ccp practice test

Question No7:

The goal of listening isto:

Analyze what the speaker issaying

Find out what is goingon

Have time to formulate your thoughts on thesubject

Improvecommunication

Answer: D Question No8:

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 historicaldata.

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 completiondate?

Project will be completed in 20 moreweeks

Project will be completed this week - onschedule

Project will be completed in 4 moreweeks

Project will be completed in 12.8 moreweeks

Answer: C Question No9:

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 historicaldata.

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 anestimate?


Ccp practice test

Contingencycushion

It makes up for the lack of time to develop a realestimate

It is a governmentrequirement

There are unknowns that affect the final cost of aproject

Answer: D Question No10:

An effort by a prime contractor to reduce the price quoted by a vendor, by providing the bid price to other vendors in an attempt to get the other vendors to underbid the original price quoted is referred toas:

Costing

Cost-priceanalysis

Bidshopping

Negotiating a best and finaloffer

Answer:C

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