[Oct 19, 2023] Free AACE International CCP Exam Questions and Answer
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NEW QUESTION # 38
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 interest rates disregards the effects of compounding periods that occur more frequent than annually?
- A. Continuous compounding rate
- B. Simple interest rate
- C. Nominal interest rate
- D. Minimum attractive rate of return
Answer: C
NEW QUESTION # 39
Two of the most important things to know when planning a speech or lecture are the ______________and______________ of your audience.
- A. Political preference, sense of humor
- B. Background, attitude
- C. Motivation, professionalism
- D. Culture, understanding
Answer: D
NEW QUESTION # 40
______________can be defined as the determination of that course of action or combination of alternatives that yields either the lowest cost or the highest profit.
- A. Economic optimization
- B. Simulation
- C. Linear programming
- D. Dynamic programming
Answer: D
NEW QUESTION # 41
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.
All of the following are included in "income tax" calculations except:
- A. Annual expenditures
- B. Initial cost of investment
- C. Annual income
- D. Depreciation
Answer: B
NEW QUESTION # 42 
The following question requires your selection of CCC/CCE Scenario 6 (2.7.50.1.3) from the right side of your split screen, using the drop down menu, to reference during your response/choice of responses.
Calculate the mean unit cost.
- A. $48.35
- B. $48.22
- C. $46.59
- D. $48.09
Answer: C
NEW QUESTION # 43
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?
- A. Rate of return
- B. Annual sales
- C. Total assets
- D. Annual Dividends
Answer: A
NEW QUESTION # 44
A contract clause that provides the owner with the right to terminate the contract irrespective of the general contractor's liability is:
- A. Substantial completion
- B. Termination of contract - convenience
- C. Breach of contract
- D. Termination of contract - default
Answer: B
NEW QUESTION # 45
____________ is defined as covering work whose component activities are less defined and whose interrelationships are conditional.
- A. Inductive logic
- B. Soft logic
- C. Hard logic
- D. Deductive logic
Answer: B
NEW QUESTION # 46
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 # 47 
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 schedule performance index (SPI)?
- A. 1.14
- B. 0.96
- C. 0.84
- D. 0.88
Answer: A
NEW QUESTION # 48
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 latest allowable end time minus the earliest allowable end time on a schedule activity is referred to as:
- A. Just-in-time" scheduling
- B. Remaining duration
- C. Activity total slack
- D. Free float
Answer: C
NEW QUESTION # 49
The following question requires your selection of CCC/CCE Scenario 6 (2.7.50.1.3) from the right side of your split screen., using the drop down menu, to reference during your response/choice of responses.
What is the range of unit costs?
- A. $485.00
- B. $21.57
- C. $48.22
- D. $26.65
Answer: A
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.
At the end of Year 4, the commodity which experienced the greatest projected percentage price index increase over today is:
- A. Steel
- B. Manufacturing labor
- C. Copper
- D. None of the above
Answer: B
NEW QUESTION # 51
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.
What is the 25 year after tax present worth of this project?
- A. $13,738
- B. $137,466
- C. $(22,533)
- D. $22,533
Answer: D
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.
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.
What class of estimate is used for the preliminary design phase of a project?
- A. Class 2 - definitive estimate with +15%/-5% accuracy
- B. Class 4 - budget estimate with +30% / -15% accuracy
- C. Class 5 - order of magnitude estimate with +50% / -30% accuracy
- D. Class 1 - order of magnitude with +30% / -30% accuracy
Answer: C
NEW QUESTION # 53
A systematic coding structure for organizing and managing scope, assets, cost, resources, work and schedule activity information is a______________.
- A. Cost breakdown structure
- B. Schedule identification number
- C. Cost estimate classification
- D. Code of accounts
Answer: D
NEW QUESTION # 54
In a fixed price contract the:
- A. Contractor has no risk in the project
- B. Contactor assumes all the performance risk
- C. Owner has all the risk
- D. Contractor is paid for actual costs
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.
Which of the following should be included in the life-cycle cost analysis of a power plant?
- A. Capacity factor, end product units, physical dimensions
- B. Factory expenses, distribution expenses, mark-up
- C. Construction cost, operating cost, maintenance cost
- D. Resources, work activities, final cost objects
Answer: C
NEW QUESTION # 56 
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 # 57
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.
Select the statement that best describes the meaning of the +/-notations associated with an estimate. The actual cost is expected:
- A. To fall within the percentage range stated
- B. To be exactly the percentages stated
- C. To be higher or lower that the percentages stated
- D. To be outside the percentages stated
Answer: A
NEW QUESTION # 58
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.
How many years will it take to earn $400 in interest on $800 at 4% compounded annually?
- A. 12 years
- B. 13 years
- C. 10 years
- D. 11 years
Answer: C
NEW QUESTION # 59
The latest allowable end time minus the earliest allowable end time on a schedule activity is referred to as:
- A. Just-in-time scheduling
- B. Remaining duration
- C. Total float
- D. Free float
Answer: C
NEW QUESTION # 60
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. Pay and compensation
- B. Knowledge
- C. Belonging needs
- D. Self-actualization
Answer: C
NEW QUESTION # 61
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. Ratio/level of effort
- B. Start/finish
- C. Units completed
- D. Incremental milestone
Answer: D
NEW QUESTION # 62
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.
If steel costs $1800/ton at the end of Year 3, what is the price of steel at the end of Year 4?
- A. $1948/ton
- B. $1890/ton
- C. $1836/ton
- D. $1863/ton
Answer: C
NEW QUESTION # 63
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