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Best Quality AACE International CCP Exam Questions
NEW QUESTION 23
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. Life cycle costs method (LCC)
- B. Benefit/Cost ratio (B/C) method
- C. Net present worth method
- D. Risk analysis
Answer: A
NEW QUESTION 24
In a fixed price contract the:
- A. Contractor is paid for actual costs
- B. Owner has all the risk
- C. Contractor has no risk in the project
- D. Contactor assumes all the performance risk
Answer: D
NEW QUESTION 25
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 methods a used for creating critical path schedules:
- A. Precedence diagram method
- B. Precedence and arrow diagram methods only
- C. Arrow diagram method
- D. Gantt chart (bar chart) method
Answer: B
NEW QUESTION 26
The four steps to writing are:
- A. Start, write, complete, revise
- B. Plan, write, cool, revise
- C. Abstract, body conclusion, bibliography
- D. Introduction, paragraph, conclusion, works cited
Answer: B
NEW QUESTION 27
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.
Fred Fiedler's contingency model suggests that:
- A. A relationship oriented leader described the least preferred worker in an unfavorable light
- B. Successful leadership depends upon a good match
- C. Successful leadership can always be imposed by experienced supervision
- D. Leadership styles are just the opposite of the managerial grid model
- E. between the style of the leader and the demands of the situation
Answer: E
NEW QUESTION 28
Cost performance index (CPI) is defined by AACE International as: (assume no change in budgeted quantities)
- A. BCWS/BCWP
- B. ACWP/BCWS
- C. ACWP/BCWP
- D. BCWP/ACWP
Answer: D
NEW QUESTION 29
Meetings require:
- A. Goals, an agenda, preparation, conclusions, control and conversations that are relevant
- B. Goals, an agenda, flipchart, computer projector, laser pointer and consulting with others where appropriate
- C. Goals, an agenda, preparation, relevant discussions, support for your actions and to consider the total physical and human setting of the meeting
- D. Goals, an agenda, preparation, control, good listening skills and relevant discussions
Answer: A
NEW QUESTION 30
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.
If you buy a lot for $3,000 and sell it for $6,000 at the end of 8 years, what is your annual rate of return?
- A. 10.4%
- B. 9.1%
- C. 9.9%
- D. 8.3%
Answer: B
NEW QUESTION 31
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 "book value (BV) of the asset at the end of 5 years?
- A. $64,000
- B. $16,000
- C. $60,000
- D. $3,200
Answer: A
NEW QUESTION 32 
The following question requires your selection of CCC/CCE Scenario 28 (3.7.50.1.7) from the right side of your split screen, using the drop down menu, to reference during your response/choice of responses.
An unbalanced bid methodology can best be used by:
- A. Contractor working directly for engineer (plan A or B)
- B. Engineer working for the owner (Plan A)
- C. Subcontractor working for contractor (Plan A or B)
- D. Engineer/contractor working for the owner (Plan B)
Answer: D
NEW QUESTION 33
A major theme park is expanding the existing facility over a five-year period. The design phase will be completed one year after the contract is awarded. Major engineering drawings will be finalized two years after the design contract is awarded and construction will begin three years after the award of the design contract. New, unique ride technology will be used and an estimate will need to be developed to identify these costs that have no historical data.
You are reporting on a roadway project, which was estimated to be 10 miles of road. It was scheduled to be completed in 16 weeks, which is this week. According to your calculations, the project has a schedule performance index of 0.80. What would you advise the management about the scheduled completion date?
- A. Project will be completed in 20 more weeks
- B. Project will be completed in 4 more weeks
- C. Project will be completed in 12.8 more weeks
- D. Project will be completed this week - on schedule
Answer: B
NEW QUESTION 34
____________ is the application of total resources ($-workers-supports) and activity durations of the logic diagram.
- A. Scheduling
- B. Forecasting
- C. Planning
- D. Modeling
Answer: A
NEW QUESTION 35 
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 30 months, copper prices will have increased by what percentage over today's price?
- A. 6.6%
- B. 3.5%
- C. 2.5%
- D. 4.6%
Answer: C
NEW QUESTION 36
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. Commodity
- C. WBS element
- D. Resource
Answer: A
NEW QUESTION 37 
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 weighted average unit cost.
- A. $48.35
- B. $48.09
- C. $47.63
- D. $46.13
Answer: A
NEW QUESTION 38 
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. $1836/ton
- C. $1890/ton
- D. $1863/ton
Answer: B
NEW QUESTION 39
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