[Dec-2023] CCP Dumps are Available for Instant Access using PracticeDump [Q48-Q66]

[Dec-2023] CCP Dumps are Available for Instant Access using PracticeDump

CCP Dumps 2023 - New AACE International CCP Exam Questions

The Certified Cost Professional (CCP) certification is a well-known professional certification offered by the AACE International. The AACE International is a leading professional organization that provides services and support in cost engineering, project management, and other related fields. The CCP certification is globally recognized and valued as a mark of excellence in the field of cost engineering.

Obtaining the CCP credential is a significant asset to professionals working in the cost engineering field as it demonstrates their level of professionalism, knowledge, and expertise to their clients and colleagues. Certified Cost Professional (CCP) Exam certification indicates that the candidate has practical and theoretical knowledge of the cost engineering profession, and they have the skills required to manage cost-related issues effectively. Additionally, the credential serves as a platform for future professional development, career advancement, and increased earning potential.

To prepare for the exam, candidates can rely on a variety of resources provided by AACE International, including textbooks, study guides, and online courses. The association also offers regional workshops and training sessions that provide opportunities for candidates to engage with experienced professionals, network with peers and learn best practices in the field.

NEW QUESTION # 48
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 assume 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 invested now at 10% compounded annually, what will the investments be worth 10 years from now?

A. $16,180
B. $25,940
C. $21,345
D. $29,450

Answer: B

NEW QUESTION # 49
A contract clause that provides the owner with the right to terminate the contract irrespective of the general contractor's liability is:

A. Termination of contract - convenience
B. Termination of contract - default
C. Substantial completion
D. Breach of contract

Answer: A

NEW QUESTION # 50
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 $100,000 is needed to purchase a piece of equipment 3 years from now, how much money needs to be invested today assuming a 10% rate of return (rounded to the nearest thousand)?

A. $78,000
B. $75,000
C. $70,000
D. $82,000

Answer: B

NEW QUESTION # 51
Some of the principles of good communication are:

A. The social process by which people in a specific situation construct meaning using symbolic behavior
B. Use short words; avoid jargon; avoid acronyms and abbreviations; use complete sentences; have a beginning, middle and end; be accurate; be interested in what topic is being communicated
C. Tell the other person what to do; give insincere praise; psychoanalyze the other person; make light of a serious problem; do not gain the trust of anyone; always have a hidden agenda
D. Seek to clarify your ideas before communicating; examine the true purpose of each communication; consider the total physical and human setting whenever you communicate; be mindful, while you communicate, of the overtones as well as the basic content of the message

Answer: B

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.
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. Belonging needs
B. Knowledge
C. Self-actualization
D. Pay and compensation

Answer: A

NEW QUESTION # 53
____________ is the application of total resources ($-workers-supports) and activity durations of the logic diagram.

A. Scheduling
B. Planning
C. Modeling
D. Forecasting

Answer: A

NEW QUESTION # 54

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.
What is the cost index value of copper at the end of Year 2? (rounded to 2 decimal positions)

A. 4.62
B. 4.24
C. 4.10
D. 4.31

Answer: D

NEW QUESTION # 55
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. Successful leadership depends upon a good match
B. Leadership styles are just the opposite of the managerial grid model
C. A relationship oriented leader described the least preferred worker in an unfavorable light
D. between the style of the leader and the demands of the situation
E. Successful leadership can always be imposed by experienced supervision

Answer: D

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.
If the owner in B has as his primary goal to get the project completed and on line as fast as possible, then he would most likely use the ______________type of contract.

A. Lump sum + incentive
B. Lump sum
C. Unit Rate
D. Cost plus

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.
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 this week - on schedule
B. Project will be completed in 12.8 more weeks
C. Project will be completed in 20 more weeks
D. Project will be completed in 4 more weeks

Answer: D

NEW QUESTION # 58
When a person hears the words being said to him/her, but does not receive the message of the words, it is called

A. Reflective listening
B. Directive listening
C. Passive listening
D. Judgmental listening

Answer: C

NEW QUESTION # 59

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.
10,278 hours have been expended to date. The CPI at this point in time is 0.93. SPI is
1.03. How many hours were planned?

A. 9,559
B. 10,586
C. 10,278
D. 9,280

Answer: B

NEW QUESTION # 60

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 cost performance index (CPI)?

A. 0.88
B. 1.14
C. 0.96
D. 0.84

Answer: B

NEW QUESTION # 61
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. 8.3%
B. 9.1%
C. 10.4%
D. 9.9%

Answer: B

NEW QUESTION # 62
Cost performance index (CPI) is defined by AACE International as: (assume no change in budgeted quantities)

A. ACWP/BCWS
B. BCWP/ACWP
C. BCWS/BCWP
D. ACWP/BCWP

Answer: B

NEW QUESTION # 63
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 recognition of loss of value of a natural resource used in the production process is referred to as:

A. Capital reduction
B. Net loss
C. Depletion
D. Depreciation

Answer: C

NEW QUESTION # 64
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. Arrow diagram method
B. Precedence and arrow diagram methods only
C. Precedence diagram method
D. Gantt chart (bar chart) method

Answer: B

NEW QUESTION # 65

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?