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Exam Code: CCP
Exam Name: Certified Cost Professional (CCP) Exam
Free One year updates to match real exam scenarios, 100% pass and refund Warranty.
CCP Exam PDF Total Q&A: 115 Questions and Answers
Last Update: 04-02,2015

>> CCP PDF VCE detail

NO.1 _____________is defined as the budget for the cost (work) account times the percent complete
for that account.
A. Percent complete
B. Forecast
C. Cost to complete
D. Earned value
Answer: D

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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.
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.
Why is a +/- notation necessary when developing an estimate?
A. Contingency cushion
B. It makes up for the lack of time to develop a real estimate
C. It is a government requirement
D. There are unknowns that affect the final cost of a project
Answer: D

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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.
How many years will it take to earn $400 in interest on $800 at 4% compounded annually?
A. 10 years
B. 11 years
C. 12 years
D. 13 years
Answer: A

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NO.4 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 is NOT an advantage of the critical path method:
A. The ability to determine cost overruns of critical path activities
B. The ability to identify activities that cannot have their schedules slip if the desired project end date
is to be achieved
C. Reveals activities that additional resources need to be dedicated toward
D. The ability to show slippage in the progress of key activities
Answer: A

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NO.5 Cost performance index (CPI) is defined by AACE International as: (assume no change in
budgeted quantities)
A. ACWP/BCWS
B. BCWS/BCWP
C. ACWP/BCWP
D. BCWP/ACWP
Answer: D

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NO.6 Which of the following is NOT a type of float?
A. Total
B. Negative
C. Open end
D. Free
Answer: C

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NO.7 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 method to estimate the cost of the new rides:
A. Break down the technology into components
B. Call vendors for quotes
C. Use historical data from past projects
D. Adjust known data from existing rides
Answer: D

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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.
When analyzing a precedence diagram schedule, the "backward pass"
A. Allows total float to be calculated
B. Determines the duration of each activity
C. Calculates the earliest allowable start and finish times for the activities in the schedule
D. Allows activities to finish as soon as all their 'predecessor' relationships are satisfied
Answer: C

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