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Title: AACE International CCP study guide


1
AACE Certification
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2
Why AACE Certification?
In the midst of staggering business and economic
turmoil, you need all the tools at your disposal
to help shore up your career prospects. AACE
certification can help you and the organizations
that rely on you for help! The purpose of AACE
Certification is to provide a means for
well-qualified individuals in the cost and
management industry to establish credentials to
recognize their skills, knowledge and experience,
in addition to providing the public and the
industry a means of distinguishing individuals
who have met stringent criteria and competency in
order to be AACE Certified.
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3
Top 10 Reasons to Earn AACE Certification
  1. Grants your professional credentials by providing
    an impartial endorsement of your knowledge and
    expertise.
  2. Shows your professional commitment and ability to
    perform to your peers, supervisors, and clients.
  3. Results in greater recognition from peers for
    taking that extra step in your professional
    development.
  4. Enhances your professional image by developing
    certified professionals who stand out as examples
    of excellence.
  5. Reflects your personal achievement of proving
    excellence in your field and meeting industry
    standards and requirements.
  6. Can improve career opportunities by giving you
    the edge when being considered for a promotion
    or other opportunities.
  7. May provide for greater earnings potential
    through salary and wage increases based on your
    certification status.
  8. Improves your skills and knowledge through
    training, study, and keeping up with the
    industry via the recertification requirements.
  9. Prepares you for greater on-the-job
    responsibilities by proving that you have
    invested in your own professional development.
  10. Enriches self-esteem by allowing you to
    distinguish yourself beyond your job title or
    academic degree.

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4
CCP Exam Study Material
Pass4sure CCP exam study material is precise and
authentic that has been prepared by the best
industry professionals and hence awards you
success in just one go. Pass4sure CCP Certified
Cost Professional (CCP) Exam questions provides
you the essence of exam knowledge in a brief and
easy to understand content and enable you to
answer well the real CCP exam without any hassle.
https//www.pass4sures.com/CCP.html
5
CCP Certifications Offered
The AACE International portfolio of
certifications includes a Technician Level and a
Professional Level. The initial difference
between the two are the minimum experience,
education, or a combination of both, required in
order to be eligible to take the examination.
Click on the toolbox for the referenced
certification for additional details and
important information to help you decide which
path is most suitable for you.
https//www.pass4sures.com/CCP.html
6
Exam Day and Beyond
Examination Details, Policies Procedures The
Certification Board of AACE International has
partnered with Kryterion Global Testing
Solutions as the provider of computer based
testing (CBT) for all AACE certification
examinations. With a worldwide network of testing
centers, the Kryterion Testing Network (KTN)
ensures each testing center conforms to strict
standards to make certain all test takers have a
consistent experience. Additionally, Kryterion
Testing Network proctors are required to follow
standard operating procedures and are certified
to ensure the highest level of security and
customer care. You may review testing center
locations near you by clicking here or learn more
about AACE certification examinations by
selecting an option below.
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AACE International CCP Certification Study Guide
AACE International CCP Certification Study Guide
is designed to be a companion workbook to the
Skills and Knowledge of Cost Engineering, 5th
Edition (SK 5). The information contained in SK
5 represents the minimum general knowledge a cost
engineering professional is expected to have.
This study guide does not teach specifically to
the CCP certification exam.
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8
AACE International CCP Practice Test
Question No 1
The latest allowable end time minus the earliest
allowable end time on a schedule activity is
referred to as A. Total float B. Remaining
duration C. Free float D. Just-in-time scheduling
Answer A
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9
AACE International CCP Practice Test
Question No 2
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. In an exit interview, an employee comments
that the reason he is leaving the organization is
lack of teamwork and cohesion among his
co-workers. Which need of Maslow's hierarchy of
needs is unmet? A. Belongingness needs B.
Primary needs C. Self-actualization needs D.
Esteem needs
Answer A
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10
AACE International CCP Practice Test
Question No 3
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 Dividends C. Total assets D.
Annual sales
Answer A
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11
AACE International CCP Practice Test
Question No 4
Productivity increases with time. This
improvement is commonly associated with
improvements in efficiency brought about by
increased experience and skill levels. What does
this scenario describe? A. Productivity
efficiency factor B. Value engineering C. Cash
flow D. The learning curve
Answer D
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12
AACE International CCP Practice Test
Question No 5
NO 37
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. The entire pipe has been received,
hangers have been installed, and all pipes are in
place. None has been welded or flushed. What
percent complete is this project?
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13
AACE International CCP Practice Test
Question No 5
A. 45 B. 50 C. 95 D. 30
Answer A
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AACE International CCP Practice Test
Question No 6
Money is value. Having money when you need it is
very important. Money can also be valuable when
used wisely by knowing when to spend and when to
conserve Also, planning now for future expenses
can be a plus to the company rather than a debit.
There are several ways to capitalize money and
spending. Basically there is the single payment
method that has a compound amount factor and a
present worth factor. There is the uniform annual
series that has a sinking fund factor, capital
recovery factor and also the compound amount
factor and present worth factor. At this point,
we can assure money is worth 10. The following
question requires your selection of CCC/CCE
Scenario 7 (4.8.50.1.1) from the right side of
your split screen, using the drop down menu, to
reference during your response/choice of
responses. If you are scheduled for a 100,000
payment at the end of each year for the next five
years, what is the equivalent amount if you were
to make a lump sum payment now? A. 162,370 B.
679,397 C. 379,100 D. 500,000
Answer D
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15
AACE International CCP Practice Test
Question No 7
A systematic coding structure for organizing and
managing scope, assets, cost, resources, work and
schedule activity information is
a______________. A. Cost breakdown structure B.
Code of accounts C. Cost estimate
classification D. Schedule identification number
Answer B
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16
AACE International CCP Practice Test
Question No 8
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 this week - on schedule C. Project will
be completed in 4 more weeks D. Project will be
completed in 12.8 more weeks
Answer C
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17
AACE International CCP Practice Test
Question No 9
The written word is often more useful than the
spoken. Guidelines for writing include A. Use
short sentences use short words avoid jargon
and abbreviations use complete sentences stick
to one idea per paragraph have a beginning,
middle and end be accurate B. Organize the
background information state the problem list
the options or alternatives state the
recommendation (s) conclude and summarize with
why the recommendation is the best way to
proceed C. Follow an outline allow some time for
"cooling" after compiling the draft before
revising when revising, allow plenty of time for
several sessions D. Explain, report, describe,
clarify, define and demonstrate
Answer B
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18
AACE International CCP Practice Test
Question No 10
If you deposit 100 per month for two (2) years
and earn interest at 12 APR (Annual Percentage
Rate) compounded monthly, how much will you have
at the end of the period? A. 2,424 B. 2,976 C.
2,688 D. 2,697
Answer A
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19
Pass4Sures CCP Exam Features
  • Total Questions 115
  • Last Update 01-Jan-2016
  • Easy to use Testing Engine print PDF format
  • Download Free CCP Demo (Try before Buy)
  • According to recommended syllabus and Objectives
  • Pass4sure New AACE International CCP exam Testing
    Engine
  • Free Updates on Regular basis 24/7 Customer
    support available
  • 100 Real Questions for AACE International CCP
  • Complete range of AACE International CCP
    Questions from Exam Topics
  • Pass4sure Passing Guarantee i-e 100 Pass

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20
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