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AACE International CCP Exam is an internationally-recognized certification that evaluates a candidate’s knowledge, skills, and experience in cost management, estimating, planning, and scheduling. CCP exam consists of multiple-choice questions, problem-solving scenarios, and case-studies intended to test the candidate’s ability to address complex cost management issues. CCP Exam is designed to be comprehensive in scope, covering everything from basic cost engineering concepts to advanced project management techniques.

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AACE International Certified Cost Professional (CCP) Exam Sample Questions (Q63-Q68):

NEW QUESTION # 63
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.
When analyzing a precedence diagram schedule, the "backward pass"

A. Determines the duration of each activity
B. Allows activities to finish as soon as all their 'predecessor' relationships are satisfied
C. Calculates the earliest allowable start and finish times for the activities in the schedule
D. Allows total float to be calculated

Answer: C

NEW QUESTION # 64
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. 8.7%
B. 8.2%
C. 4.6%
D. 8.0%

Answer: B

Explanation:
To calculate the total percentage increase in steel prices over three years, we compound the inflation rates for each year:
Year 1: 2.5%
Year 2: 2.5%
Year 3: 3.0%
The formula to calculate the total percentage increase is:
Total Increase=(1+Rate Year 1)×(1+Rate Year 2)×(1+Rate Year 3)-1 ext{Total Increase} = (1 + ext{Rate Year 1}) imes (1 + ext{Rate Year 2}) imes (1 + ext{Rate Year 3}) - 1Total Increase=(1+Rate Year 1)×(1+Rate Year 2)×(1+Rate Year 3)-1 Total Increase=(1+0.025)×(1+0.025)×(1+0.03)-1 ext{Total Increase} = (1 + 0.025) imes (1 + 0.025) imes (1 + 0.03) - 1Total Increase=(1+0.025)×(1+0.025)×(1+0.03)-1 ext{Total Increase} = 1.025 imes 1.025 imes 1.03 - 1 approx 1.082 - 1 = 0.082 ext{ or 8.2%} So, the correct answer is B. 8.2%.

NEW QUESTION # 65
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.
Assuming a 53% tax rate, how much cumulative depreciation will have been claimed at the end of the grain elevator's life span?

A. $80,000
B. $42,400
C. None
D. $37,600

Answer: A

NEW QUESTION # 66
A used concrete pumping truck can be purchased for $125,000. The operation costs are expected to be $65,000 the first year and increase 5% each year thereafter. As a result of the purchase, the company will see an increase in income of $100,000 the first year and 5% more each subsequent year. The company uses straight-line depreciation. The truck will have a useful life of five (5) years and no salvage value. Management would like to see a 10% return on any investment. The company's tax rate is 28%.
Assuming the average life span of a lithium battery is two years and is normally distributed with a standard deviation of two months, what is the probability the battery will last between 20 months and 26 months?

A. 90%
B. 84%
C. 82%
D. 75%

Answer: B

Explanation:
Given that the average life span of the lithium battery is 24 months with a standard deviation of 2 months, we need to calculate the probability that the battery will last between 20 and 26 months.
Using the Z-score formula:
Z=X-μσZ = rac{X - mu}{sigma}Z=σX-μ
For 20 months: Z=20-242=-2Z = rac{20 - 24}{2} = -2Z=220-24=-2
For 26 months: Z=26-242=1Z = rac{26 - 24}{2} = 1Z=226-24=1
Looking up these Z-scores in the standard normal distribution table:
Z = -2 corresponds to approximately 2.28%
Z = 1 corresponds to approximately 84.13%
The probability that the battery will last between 20 and 26 months is approximately 84%.

NEW QUESTION # 67
Some of the principles of good communication are:

A. Seek to clarify your ideas before communicating; examine the true purpose of each communication; consider the total physical and human setting whenever you communicate; be mindful, while you communicate, of the overtones as well as the basic content of the message
B. The social process by which people in a specific situation construct meaning using symbolic behavior
C. Tell the other person what to do; give insincere praise; psychoanalyze the other person; make light of a serious problem; do not gain the trust of anyone; always have a hidden agenda
D. Use short words; avoid jargon; avoid acronyms and abbreviations; use complete sentences; have a beginning, middle and end; be accurate; be interested in what topic is being communicated

Answer: D

NEW QUESTION # 68
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