Page: 1
/ 14
Total 189 questions
AACE International Certified Cost Professional (CCP) CCP Exam Practice Test
Question 1
As the leas cost engineer for the XYZ Services Company, you have been requested to provide pertinent for an equipment rental decision. The unit price of the food stuffs varies, but an average unit selling process has been determined to be $0.50 cents and the average unit acquisition cost is $0.40 cents.
The following revenue and expense relationships are predicted:
How many units are required per month to break even?
Answer : B
The break-even point is calculated by dividing the total fixed costs by the contribution margin per unit. Given the data:
Fixed Costs = $6,000
Contribution Margin per Unit = $0.10 ($0.50 - $0.40)
Break-evenunits=TotalFixedCostsContributionMarginperUnit=6,0000.10=60,000units\text{Break-even units} = \frac{\text{Total Fixed Costs}}{\text{Contribution Margin per Unit}} = \frac{6,000}{0.10} = 60,000 \text{ units}Break-evenunits=ContributionMarginperUnitTotalFixedCosts=0.106,000=60,000units
Therefore, 60,000 units must be sold per month to break even.
Question 2
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.
Answer : A
If the owner in scenario B has the primary goal of getting the project completed and operational as quickly as possible, a Cost Plus contract type is most likely to be used. This contract type allows for flexibility in managing costs, and the contractor is reimbursed for all costs plus a fee. It motivates the contractor to expedite the project since the costs are covered, and any additional effort is compensated. Therefore, the correct answer is A. Cost plus.
Question 3
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?
Answer : D
An award acknowledging employees' achievements is being given.
Maslow's Hierarchy of Needs:
The hierarchy includes five levels: Physiological, Safety, Belongingness, Esteem, and Self-actualization.
Awards and recognition typically fulfill Esteem needs, which include self-respect, achievement, and the respect of others.
Answer : D. Self-actualization
Question 4
The measure of number of units completed divided by work-hours consumed is referred to as:
Answer : C
Productivity is defined as the measure of the number of units completed divided by the work-hours consumed. It is a key performance indicator in construction and other project-based industries, reflecting how efficiently resources are being used to produce outputs.
Key Points:
Productivity Calculation:
Productivity = Number of units completed / Work-hours consumed.
Higher productivity means more output is being generated per unit of time, indicating efficient use of resources.
Other Terms:
Lined Value: Not a standard term related to productivity.
Credit Work-Hours: A concept related to earned work-hours, not a direct measure of productivity.
Cost Performance Index (CPI): A measure in earned value management indicating the cost efficiency of budgeted resources, calculated as EV/AC.
Conclusion: The correct answer is C. Productivity because it directly refers to the efficiency of labor in terms of output per work-hour.
Question 5
Which of the following best describes the three key participants for projects that are executed under a three-party contractual relationship?
Answer : C
In construction and project management, a three-party contractual relationship typically involves three key participants: the Owner, the Engineer, and the Contractor.
Key Points:
Owner:
The entity that funds and owns the project. The owner defines the project scope, objectives, and requirements and is the ultimate decision-maker.
Engineer:
Often referred to as the 'Designer' or 'Consultant,' the engineer is responsible for the technical design and specifications of the project. They ensure the project is constructed according to the owner's requirements and standards.
Contractor:
The party responsible for executing the construction work. The contractor follows the design provided by the engineer and delivers the project within the agreed terms of the contract.
Conclusion: The correct answer is C. Owner, engineer, contractor because these three parties are central to the execution and management of construction projects under a three-party contractual arrangement.
Question 6
When a person hears the words being said to him/her, but does not receive the message of the words, it is called
Answer : C
Passive listening occurs when a person hears the words being said but does not fully process or receive the message behind those words. This type of listening involves a lack of engagement with the speaker and often results in missing key points or failing to understand the intended message. In contrast to active listening, where the listener actively engages with the speaker's words and tries to understand the meaning, passive listening is superficial and often ineffective in communication.
Question 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.
In Rensis1 4 model system, the exploitative-authoritative management style is one in which:
Answer : A
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.
All Official Question Types