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AACE International - CCP - High-quality Pass Certified Cost Professional (CCP) Exam Exam
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The exam solutions has three formats and one of them is AACE International CCP practice exam software (desktop and web-based). These AACE International CCP practice exams are specially built for the students so that they can evaluate what they have studied. These CCP Practice Tests are customizable which means that users can adjust the time and questions according to their needs which will teach them how to overcome mistakes so they can pass CCP exam.
The Certified Cost Professional (CCP) certification from AACE International is a prestigious and globally recognized credential for those who work in cost management, planning, and control. Certified Cost Professional (CCP) Exam certification is designed to identify professionals who possess the knowledge and skills necessary to effectively manage project costs and provide reliable project cost estimates.
AACE International Certified Cost Professional (CCP) Exam Sample Questions (Q103-Q108):
NEW QUESTION # 103
____________is defined as the earned work hours or dollars for all accounts divided by the budgeted work hours or dollars for all accounts.
- A. Percent complete
- B. Earned value
- C. Cost to complete
- D. Forecast
Answer: A
NEW QUESTION # 104
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.
After an individual's safety needs are met, what needs would the individual be motivated to fulfill next in Maslow's hierarchy of needs?
- A. Self-actualization
- B. Knowledge
- C. Belonging needs
- D. Pay and compensation
Answer: C
NEW QUESTION # 105
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. $378,750
- B. $375,658
- C. $328,810
- D. $370,710
Answer: A
Explanation:
Steel:
Year 1 inflation: 2.5%
Year 2 inflation: 2.5%
Year 3 inflation: 3.0%
Total cumulative inflation for Steel over 2.5 years: Cumulative Inflation=(1+0.025)×(1+0.025)×(1+0.03)=1.025×1.025×1.03=1.080625×1.03≈1.11304 ext{Cumulative Inflation} = (1 + 0.025) imes (1 + 0.025) imes (1 + 0.03) = 1.025 imes 1.025 imes 1.03 = 1.080625 imes 1.03 approx 1.11304Cumulative Inflation=(1+0.025)×(1+0.025)×(1+0.03)=1.025×1.025×1.03=1.080625×1.03≈1.11304 Steel cost component: 0.3 imes $350,000 = $105,000 Adjusted cost: $105,000 imes 1.11304 ≈ $116,869.20 Copper:
Year 1 inflation: 1.0%
Year 2 inflation: 1.5%
Year 3 inflation: 2.0%
Total cumulative inflation for Copper over 2.5 years: Cumulative Inflation=(1+0.01)×(1+0.015)×(1+0.02)=1.01×1.015×1.02≈1.04515×1.02≈1.0651 ext{Cumulative Inflation} = (1 + 0.01) imes (1 + 0.015) imes (1 + 0.02) = 1.01 imes 1.015 imes 1.02 ≈ 1.04515 imes 1.02 ≈ 1.0651Cumulative Inflation=(1+0.01)×(1+0.015)×(1+0.02)=1.01×1.015×1.02≈1.04515×1.02≈1.0651 Copper cost component: 0.3 imes $350,000 = $105,000 Adjusted cost: $105,000 imes 1.0651 ≈ $111,835.50 Manufacturing Labor:
Year 1 inflation: 2.5%
Year 2 inflation: 3.0%
Year 3 inflation: 3.5%
Total cumulative inflation for Manufacturing Labor over 2.5 years: Cumulative Inflation=(1+0.025)×(1+0.03)×(1+0.035)=1.025×1.03×1.035≈1.05625×1.035≈1.09138 ext{Cumulative Inflation} = (1 + 0.025) imes (1 + 0.03) imes (1 + 0.035) = 1.025 imes 1.03 imes 1.035 ≈ 1.05625 imes 1.035 ≈ 1.09138Cumulative Inflation=(1+0.025)×(1+0.03)×(1+0.035)=1.025×1.03×1.035≈1.05625×1.035≈1.09138 Labor cost component: 0.4 imes $350,000 = $140,000 Adjusted cost: $140,000 imes 1.09138 ≈ $152,793.20 Final Price:
Final Price=116,869.20+111,835.50+152,793.20≈381,497.90 ext{Final Price} = 116,869.20 + 111,835.50 + 152,793.20 ≈ 381,497.90Final Price=116,869.20+111,835.50+152,793.20≈381,497.90
The closest option: Answer: D. $378,750
NEW QUESTION # 106
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. To maximize the total long-term economic return
- B. To balance opportunities and risks
- C. Subject to a well-conceived quality control plan
- D. Dependent on the backlog projects and the availability of resources
Answer: A
NEW QUESTION # 107
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. 1.14
- B. 0.96
- C. 0.84
- D. 0.88
Answer: C
Explanation:
The Cost Performance Index (CPI) is calculated using the formula:
CPI=Earned Value (EV)Actual Cost (AC) ext{CPI} = rac{ ext{Earned Value (EV)}}{ ext{Actual Cost (AC)}}CPI=Actual Cost (AC)Earned Value (EV) Where:
EV (Earned Value) is the percentage of completion multiplied by the total budgeted hours.
AC (Actual Cost) is the total hours expended.
Given:
Total Budgeted Hours = 12,000 hours
Percent Complete = 66%
Actual Hours Expended (AC) = 9,375 hours
EV=12,000×0.66=7,920 hours ext{EV} = 12,000 imes 0.66 = 7,920 ext{ hours}EV=12,000×0.66=7,920 hours CPI=7,9209,375≈0.84 ext{CPI} = rac{7,920}{9,375} approx 0.84CPI=9,3757,920≈0.84 So, the correct answer is B. 0.84.
NEW QUESTION # 108
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The CCP certification verifies that you are a skilled professional. BraindumpQuiz product is designed by keeping all the rules and regulations in focus that AACE International publishes. Our main goal is that you can memorize the actual AACE International CCP Exam Question to complete the Certified Cost Professional (CCP) Exam (CCP) test in time with extraordinary grades.
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