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Updated Feb-2023 Pass CCP Exam - Real Practice Test Questions
NEW QUESTION 65
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 $10,000 is scheduled to be paid out 5 years from now, what is the minimum amount we can invest today?
- A. $3,855
- B. $8,129
- C. $3,791
- D. $6,209
Answer: D
NEW QUESTION 66
____________ is the application of total resources ($-workers-supports) and activity durations of the logic diagram.
- A. Modeling
- B. Forecasting
- C. Planning
- D. Scheduling
Answer: D
NEW QUESTION 67
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. None
- B. $80,000
- C. $42,400
- D. $37,600
Answer: B
NEW QUESTION 68
A bond that guarantees the bidder will enter into a contract on the basis of his/her bid is referred to as:
- A. Performance bond
- B. Bid bond
- C. Liability bond
- D. Surety bond
Answer: B
NEW QUESTION 69 
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. 8.0%
- B. 4.6%
- C. 8.7%
- D. 8.2%
Answer: A
NEW QUESTION 70
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 outside the percentages stated
- D. To be higher or lower that the percentages stated
Answer: A
NEW QUESTION 71
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. 9.1%
- B. 8.3%
- C. 10.4%
- D. 9.9%
Answer: A
NEW QUESTION 72
What is executed in connection with a contract and secures the performance and fulfillment of all the undertakings, covenants, terms, conditions and agreements contained in the contract?
- A. Liability insurance
- B. Performance bond
- C. Bid bond
- D. Surety bond
Answer: B
NEW QUESTION 73
Which of the following is NOT an aspect of quality management?
- A. Quality checking
- B. Quality assurance
- C. Quality control
- D. Quality planning
Answer: A
NEW QUESTION 74
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. Risk analysis
- B. Life cycle costs method (LCC)
- C. Net present worth method
- D. Benefit/Cost ratio (B/C) method
Answer: B
NEW QUESTION 75 
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. 12,000
- B. 16,215
- C. 10,526
- D. 14,201
Answer: C
NEW QUESTION 76
The written word is often more useful than the spoken. Guidelines for writing include:
- A. Explain, report, describe, clarify, define and demonstrate
- B. Follow an outline; allow some time for "cooling" after compiling the draft before revising; when revising, allow plenty of time for several sessions
- C. 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
- D. 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
Answer: D
NEW QUESTION 77
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. Start/finish
- B. Units completed
- C. Incremental milestone
- D. Ratio/level of effort
Answer: C
NEW QUESTION 78 
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 79
If a project is said to be on a "fast track program/' the fast track method is:
- A. Analyzing the project and specifying the basic approach to be used in its execution; segmenting the project into reasonable number of activities; estimating the time required to perform each activity; placing the activities in time order, considering both sequential and parallel performance
- B. Revising the schedule logic to make it possible to identify constraints of faulty logic; revising the durations in the n p schedule that have been based on assumptions regarding the \hay the work would be performed; revise the resources to work multiple shifts; evaluate the use of overtime
- C. First completing engineering and procurement, then executing construction
- D. Simultaneous working engineering, procurement, and construction, with appropriate overlap from each phase of work so that delays are eliminated and all the work is streamlined into a correct plan of logic/sequence and duration for all of the work
Answer: D
NEW QUESTION 80
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.
According to Maslow's hierarchy of needs, giving the employees an award that acknowledges their achievements is most likely to satisfy which level of need?
- A. Safety needs
- B. Belonging needs
- C. Power needs
- D. Self-actualization
Answer: D
NEW QUESTION 81
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 is least likely to improve a large earthmoving contractor's productivity?
- A. Using apprentice operators to save labor costs
- B. Starting summer work in the early morning hours to minimize work during peak heat periods of the day
- C. Replacing old excavators with new, larger excavators
- D. Remove underground hazards prior to excavation work
Answer: B
NEW QUESTION 82
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.
Cost engineers who feel completely satisfied and fulfilled by their work as part of a project team are said to have reached the ______________ stage of Maslow's hierarchy of needs.
- A. Self-actualizations
- B. Belonging needs
- C. Need satisfaction
- D. Esteem
Answer: A
NEW QUESTION 83
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. Code of accounts
- D. Cost estimate classification
Answer: C
NEW QUESTION 84
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