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AACE-International CCP: Certified Cost Professional (CCP) Exam Certification Path
Certified Cost Professional (CCP) Examination comprises solely of the AACE-International CCP: Certified Cost Professional Examination (CCP). Certified Cost Professional Examination (CCP). The candidates must meet the qualifying requirements for a minimum of eight years of industry experience or four years of industry experience and four years of associated academic degree. Those who have certification as a Certified Cost Professional (CCP) must recertification each Three years after the date on which they were first certified. Certification holders must have at least 15 recertification units during a 3-year period to be eligible for recertification. The studying guide, AACE's Suggested Approaches, AACE's Fundamentals & Understanding of Cost Engineering and AACE's Total Cost Managing Framework will be given in CCP exam dumps. You will also be provided with unique documents from our certified professionals.
The emphasis is on fundamental statistical, economic and financial understanding. In order to assess the differences between two or more alternative actions, you will be given with the necessary components to comprehend economic cost, such as inflation, depreciation, escalation, governmental cost effects, etc. You will also concentrate on systems engineering and get acquainted with methods that help solve major engineering issues. You will also learn how statistical data and probability may help you to examine data to make conclusions. The material of the course will be shown through practical examples. Several activities and tests are provided in order to put your newly learned information into practice straightaway. CCP exam dumps include all this preparation material.
Introduction to AACE-International CCP: Certified Cost Professional (CCP) Exam
Founded in 1956, AACE (international) is a prominent, non-profit professional company. AACE is the biggest company in the whole range of cost management. It is a member-driven association that serves the profession worldwide. Members have the resources to improve their performance throughout their careers. There are more than 9,000 members in over 100 countries across the globe. The AACE Global Salary Report shows that CCP's make higher than those without certification throughout their careers. You demonstrate that you have the highest professional level in the business today when you get your costs' certification. In different phases of the industrial project, the Certified Cost Professional (CCP) program teaches you estimation, planning and control methods. Your career will start with this information. The certification course complies with the worldwide standards established by the AACE, the global cost engineering organization. The course enables you to take the steps required to become a certified cost specialist (CCP). The CCP credentials are one of the world's best-known certifications for sustainable development and cost management. CCP exam dumps and CCP tests are also accessible online and the students are strongly urged to study these exam dumps as they are the best resources for the study. As usual, we suggest a mix of real world experience, instruction and consciousness in the areas outlined in the Test Outline part of this examination guideline as exam preparation.
The test is conducted through computer-based testing (CBT) and comprises numerous and test-like questions. This exam is a textbook closed. Pre-programmed calculations are also permitted. See CCP exam dumps for a paper format understanding. This examination establishes a structure for the official assessment of the person's knowledge and skills in a topic against widely accepted criteria. It honors individuals who have shown their planning and execution knowledge and competence.
NEW QUESTION 33 
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. Cost plus
- B. Lump sum
- C. Lump sum + incentive
- D. Unit Rate
Answer: C
NEW QUESTION 34
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 project scheduler left the company and has left unfinished work. You have been hired as the new project scheduler and must update the existing schedule. What will be your first task?
- A. Recalculate the critical path
- B. Update the remaining duration for each activity
- C. Recalculate the early finish for each activity
- D. Recalculate the early start for each activity
Answer: A
NEW QUESTION 35
Any combination of unique letters, numbers, or blanks, which describes and identifies any activity or task shown on the schedule, is:
- A. WBS Code
- B. Resource
- C. Activity ID
- D. Account number
Answer: C
NEW QUESTION 36
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.
Given a unit price contract between the owner and contractor, each assumes the following:
- A. Contractor can perform at or below bid unit rate, owner quantities are within estimate range
- B. Bid unit rate, owner quantities can exceed estimate range Contractor can perform above
- C. Bid unit rate, owner quantities are within estimate range
- D. Contractor can perform at or below bid unit rate, owner quantities can exceed estimate range
Answer: A
NEW QUESTION 37
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. Benefit/Cost ratio (B/C) method
- C. Life cycle costs method (LCC)
- D. Net present worth method
Answer: C
NEW QUESTION 38
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. Capital reduction
- C. Depreciation
- D. Net loss
Answer: A
NEW QUESTION 39
Budgeted cost of work scheduled is all of the following except:
- A. Includes portion of the budget for level-of-effort work
- B. Total costs incurred in accomplishing work in a given-time period
- C. Baseline for performance measurement
- D. Sum of the budgets for work scheduled
Answer: A
NEW QUESTION 40
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. Surety bond
- C. Bid bond
- D. Liability bond
Answer: C
NEW QUESTION 41 
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. 0.84
- B. 1.14
- C. 0.88
- D. 0.96
Answer: B
NEW QUESTION 42
Cost performance index (CPI) is defined by AACE International as: (assume no change in budgeted quantities)
- A. BCWP/ACWP
- B. ACWP/BCWP
- C. ACWP/BCWS
- D. BCWS/BCWP
Answer: A
NEW QUESTION 43
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.
Why is a +/- notation necessary when developing an estimate?
- A. Contingency cushion
- B. It is a government requirement
- C. There are unknowns that affect the final cost of a project
- D. It makes up for the lack of time to develop a real estimate
Answer: C
NEW QUESTION 44
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.
A cyclical process model was chosen as the basis for total cost management (TCM) because:
- A. Strategic assets and projects have inherent life cycles
- B. It facilitates development of budgets and schedules
- C. It is one of the basic tenets of quality improvement
- D. Refinement is needed to prepare the estimate at completion (EAC)
Answer: A
NEW QUESTION 45
Which of the following best describes the concept of total cost management:
- A. A method of quantifying construction damages where the total job costs are subtracted from the original bid or estimate to determine the total cost amount for a claim
- B. An integrating process that maps the fields of practice of cost engineering without linking it to project management, resource management, or accounting
- C. A job cost system for ensuring all aspects of a particular manufacturing process are accumulated completely
- D. The practices and processes utilized to manage the total life cycle cost investment in a portfolio of strategic assets
Answer: B
NEW QUESTION 46 
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. 12,000
- B. 16,215
- C. 10,526
- D. 14,201
Answer: C
NEW QUESTION 47
A work breakdown structure (WBS) is developed because:
- A. It can be illustrated by a simple bar, with important milestones represented by symbols at the planned time of occurrence
- B. It defines specific tasks within a project from which schedules can be developed; it aids in linking activities with resources; it facilitates communication; and it allows integration of project plans
- C. It can be illustrated by individual bars for major phases, such as permitting, funding, engineering, procurement construction, commission/startup
- D. It avoids omissions of key product activities through a systematic planning process; removes the complexity of the project by dividing it into manageable units; and provides a framework.
Answer: B
NEW QUESTION 48
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.
You have been asked to provide ETC information to management. Based on the following information, what is the ETC?
Original Budget = $9,000,000 Actuals to date = $3,513,000
Current estimate at completion = $10,613,000
Actuals for current month = $1,200,000
- A. $7,100,000
- B. $5,487,000
- C. $10,613,000
- D. $9,000,000
Answer: A
NEW QUESTION 49
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 would NOT be considered part of a project cost and schedule forecast?
- A. Current trends of time and money
- B. Usage of contingency
- C. Changes to the project execution plan
- D. Peripherals report
Answer: D
NEW QUESTION 50 
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 51
What is a basic element of work or a task that must be performed over a given period of time in order to complete a project called?
- A. Activity
- B. Resource
- C. WBS element
- D. Commodity
Answer: A
NEW QUESTION 52
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.
Which of the following percent complete measurement techniques is best suited for long-term non-production accounts (such as overhead accounts)?
- A. Start/finish
- B. Units completed
- C. Ratio/level of effort
- D. Incremental milestone
Answer: D
NEW QUESTION 53
____________is defined as the earned work hours or dollars for all accounts divided by the budgeted work hours or dollars for all accounts.
- A. Cost to complete
- B. Forecast
- C. Earned value
- D. Percent complete
Answer: D
NEW QUESTION 54
____________ is defined as covering work whose component activities are less defined and whose interrelationships are conditional.
- A. Deductive logic
- B. Soft logic
- C. Inductive logic
- D. Hard logic
Answer: B
NEW QUESTION 55
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.
Present worth calculations is represented by which of the following equations?
- A. Option D
- B. Option A
- C. Option C
- D. Option B
Answer: A
NEW QUESTION 56
......
What is the duration, language, and format of the AACE-International CCP: Certified Cost Professional (CCP) Exam
- Total number of questions: 20
- Exam format: Multiple choice, compound, scenario questions + 1 memo writing assignment
- Mandatory required score: 70%
- Exam duration: 5 hours
- Exam language: English
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