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Prepare for the AACE International Certified Cost Professional (CCP) Exam exam with our extensive collection of questions and answers. These practice Q&A are updated according to the latest syllabus, providing you with the tools needed to review and test your knowledge.
QA4Exam focus on the latest syllabus and exam objectives, our practice Q&A are designed to help you identify key topics and solidify your understanding. By focusing on the core curriculum, These Questions & Answers helps you cover all the essential topics, ensuring you're well-prepared for every section of the exam. Each question comes with a detailed explanation, offering valuable insights and helping you to learn from your mistakes. Whether you're looking to assess your progress or dive deeper into complex topics, our updated Q&A will provide the support you need to confidently approach the AACE International CCP exam and achieve success.
The questions for CCP were last updated on Feb 19, 2025.
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After collecting the control information on a light rail project within an original budget of 200.000work hours, the construction contractor is ready for their monthly progress meeting with the client.
A total of 100.000 work hours have boon scheduled to date. with 105.000 work hours earned, and 110.000 work hours paid. The stated progress by the contractor Is 60%.
What is the schedule variance (SV)?
Schedule Variance (SV) is another EVM metric that measures the difference between the work performed and the work scheduled.
Key Points:
SV Formula:
SV = BCWP - BCWS
BCWP = 105,000 work hours
BCWS = 100,000 work hours
Calculation:
SV = 105,000 - 100,000 = 5,000 work hours
Interpretation:
A positive SV indicates that the project is ahead of schedule, as more work has been performed than was planned.
Conclusion: The correct answer is D. BCWP - BCWS = 105,000 - 100,000 = 5,000 because this calculation accurately reflects the schedule variance of the project.
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 Rensis1 4 model system, the exploitative-authoritative management style is one in which:
In Rensis Likert's management system model, the exploitative-authoritative management style is characterized by a highly centralized decision-making process where management makes most decisions and passes them down to subordinates with little or no input from employees. This style typically involves strict control and limited trust in the workforce, often leading to low employee morale and motivation.
After collecting the control information on a light rail project within an original budget of 200.000 work hours, the construction contractor is ready for their monthly progress meeting with the client.
A total of 100.000 work hours have boon scheduled to date. with 105.000 work hours earned, and 110.000 work hours paid. The stated progress by the contractor Is 60%.
What is the cost variance (CV)?
Cost Variance (CV) is an EVM metric that indicates whether the project is under or over budget by comparing the earned value to the actual cost.
Key Points:
CV Formula:
CV = BCWP - ACWP
BCWP = 105,000 work hours
ACWP = 110,000 work hours
Calculation:
CV = 105,000 - 110,000 = -5,000 work hours
Interpretation:
A negative CV indicates that the project is over budget, as more work hours were paid for than were earned.
Conclusion: The correct answer is A. BCWP-ACWP = 105,000-110,000 = -5,000 because this calculation accurately reflects the cost variance of the project.
The four steps to writing are:
The four steps to writing effectively are:
Plan: Outline your ideas and structure before starting to write.
Write: Draft your content based on the plan.
Cool: Allow some time between writing and revising to gain fresh perspective.
Revise: Review and edit your work to improve clarity, coherence, and accuracy.
Option A outlines basic elements of a document rather than steps in the writing process.
Option B is too simplistic and misses key stages of planning and revising.
Option C lists sections of a formal document but not the writing process itself.
Therefore, D. Plan, write, cool, revise is the correct answer as it accurately represents the stages of the writing process.
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 4, the commodity which experienced the greatest projected percentage price index increase over today is:
Look at the projected cumulative inflation rates.
Steps:
Manufacturing Labor cumulative inflation over 4 years is the highest as per the table:
2.5% + 3.0% + 3.5% = 9.0%
Compare this with the inflation rates of Steel and Copper:
Steel = 2.5% + 2.5% + 3.0% + 2.0% = 10%
Copper = 1.0% + 1.5% + 2.0% + 2.5% = 7%
Thus, Steel has the greatest projected price index increase over the 4 years.
Answer : C . Steel
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