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AACE International CCP (Certified Cost Professional) Certification Exam is one of the most recognised certifications in the field of cost management. Certified Cost Professional (CCP) Exam certification is offered by the Association for the Advancement of Cost Engineering International, which is a professional organisation dedicated to advancing the field of cost engineering. Certified Cost Professional (CCP) Exam certification exam is designed to validate a candidate's knowledge and expertise in cost engineering, from fundamental cost management principles to advanced strategic decision-making.

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The Certified Cost Professional (CCP) Certification Exam is a globally recognized credential offered by the American Association of Cost Engineers (AACE) International. Certified Cost Professional (CCP) Exam certification is designed to measure an individual's knowledge of cost management and project controls, as well as the ability to apply that knowledge in practice. CCP Exam is suitable for those who have worked in the cost management field for a minimum of five years.

AACE International Certified Cost Professional (CCP) Exam Sample Questions (Q185-Q190):

NEW QUESTION # 185
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.
6,573 hours have been expended to date. Planned completion at this time is 60%. The project is determined to be 55% complete. How many hours have been earned?

A. 6,600
B. 6,573
C. 6,960
D. 7,200

Answer: A

Explanation:
To calculate the earned hours, you use the formula:
Earned Hours=Total Budgeted Hours×Percent Complete ext{Earned Hours} = ext{Total Budgeted Hours} imes ext{Percent Complete}Earned Hours=Total Budgeted Hours×Percent Complete Given:
Total Budgeted Hours = 12,000 hours
Percent Complete = 55%
Earned Hours=12,000×0.55=6,600 hours ext{Earned Hours} = 12,000 imes 0.55 = 6,600 ext{ hours}Earned Hours=12,000×0.55=6,600 hours So, the correct answer is A. 6,600 hours.

NEW QUESTION # 186
A bond that guarantees the bidder will enter into a contract on the basis of his/her bid is referred to as:

A. Liability bond
B. Surety bond
C. Bid bond
D. Performance bond

Answer: C

NEW QUESTION # 187
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. 10,526
B. 14,201
C. 16,215
D. 12,000

Answer: B

Explanation:
To estimate the total hours to be expended at project completion, you can use the formula:
Estimate at Completion (EAC)=Total Budgeted HoursCPI ext{Estimate at Completion (EAC)} = rac{ ext{Total Budgeted Hours}}{ ext{CPI}}Estimate at Completion (EAC)=CPITotal Budgeted Hours Using the CPI calculated in Question 39:
EAC=12,0000.84≈14,201 hours ext{EAC} = rac{12,000}{0.84} approx 14,201 ext{ hours}EAC=0.8412,000≈14,201 hours So, the correct answer is B. 14,201 hours.

NEW QUESTION # 188

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.
A reason for using a Construction Manager type agreement is:

A. To better coordinate subcontractors
B. Coordinate the owner and engineer as in Type A
C. To better coordinate contractors and subcontractors as in Type B
D. To better coordinate contractors

Answer: B

NEW QUESTION # 189
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. $37,600
B. $42,400
C. $80,000
D. None

Answer: C

Explanation:
Straight-line depreciation means that the cost of the asset is evenly spread over its useful life. Given that the grain elevator has a cost of $80,000 and a lifespan of 25 years, the cumulative depreciation at the end of its life span would be the entire initial cost of the asset. Since there is no salvage value, the full $80,000 will be depreciated over 25 years. Thus, the correct answer is D. $80,000.

NEW QUESTION # 190
......

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Leah Bennett Leah Bennett

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