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AACE International CCP certification is an excellent indicator of an individual’s professional expertise and commitment to cost engineering. For professionals who are aspiring towards a career in cost management, earning AACE International CCP certification is a critical marker that increases employment opportunities, recognition, and pay scale. The CCP certification makes individuals part of a global group of certified professionals who work towards ensuring that clients' projects are cost-efficient, and cost overruns are minimized or avoided entirely.
The CCP Certification provides demonstrable proof of a cost engineer's or quantity surveyor's mastery of the discipline. Candidates who successfully pass this certification exam possess the skills needed to orchestrate the toughest cost engineering and quantity surveying challenges.
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AACE International Certified Cost Professional (CCP) Exam Sample Questions (Q90-Q95):
NEW QUESTION # 90
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?
Answer: A
NEW QUESTION # 91
If a project is said to be on a "fast track program/' the fast track method is:
Answer: C
NEW QUESTION # 92
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.
Answer: A
Explanation:
If the owner in scenario B has the primary goal of getting the project completed and operational as quickly as possible, a Cost Plus contract type is most likely to be used. This contract type allows for flexibility in managing costs, and the contractor is reimbursed for all costs plus a fee. It motivates the contractor to expedite the project since the costs are covered, and any additional effort is compensated. Therefore, the correct answer is A. Cost plus.
NEW QUESTION # 93
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 is considered a measure of profitability?
Answer: A
NEW QUESTION # 94
If two alternatives with different useful lives are to be compared considering all costs, which of the following methods is most appropriate?
Answer: A
Explanation:
When comparing two alternatives with different useful lives, the most appropriate method is to use the Equivalent Uniform Annual Value (EUAV). This method converts the net present worth (NPW) or the total cost of each alternative into an equivalent uniform annual cost or value over their respective lives. By converting the costs into a common annual value, it allows for a straightforward comparison between alternatives with differing lifespans, ensuring that all costs (including maintenance, operation, and initial costs) are considered over a consistent time period.
NEW QUESTION # 95
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