CCP Latest Training, Valid CCP Test Cost

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The Certified Cost Professional, or CCP, is a certification offered by AACE International that serves as a benchmark for individuals to demonstrate their expertise in cost management, planning, and measurement. Certified Cost Professional (CCP) Exam certification is designed to validate the skills and knowledge required to manage project cost and aid in the decision-making process.

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By earning the CCP certification, you will be guaranteed a higher level of professionalism and recognition in your field. CCP exam validates expertise in cost engineering and management, providing you with a valuable tool to demonstrate to employers and clients that you possess the necessary skills and knowledge to handle complex challenges in cost estimation and controls.

AACE International Certified Cost Professional (CCP) Exam Sample Questions (Q37-Q42):

NEW QUESTION # 37
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 $50 was invested at 6.0% on January 1, year 1, what would be the value of year-end withdrawals made in equal amounts each year for 10 years and leaving nothing in the fund after the tenth withdrawal?

A. $5.35
B. $2.22
C. $3.10
D. $6.80

Answer: D

NEW QUESTION # 38
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 30 months, the final price for the piece of equipment will be:

A. $370,710
B. $375,658
C. $328,810
D. $378,750

Answer: D

Explanation:
Steel:
Year 1 inflation: 2.5%
Year 2 inflation: 2.5%
Year 3 inflation: 3.0%
Total cumulative inflation for Steel over 2.5 years: Cumulative Inflation=(1+0.025)×(1+0.025)×(1+0.03)=1.025×1.025×1.03=1.080625×1.03≈1.11304\text{Cumulative Inflation} = (1 + 0.025) \times (1 + 0.025) \times (1 + 0.03) = 1.025 \times 1.025 \times 1.03 = 1.080625 \times 1.03 \approx 1.11304Cumulative Inflation=(1+0.025)×(1+0.025)×(1+0.03)=1.025×1.025×1.03=1.080625×1.03≈1.11304 Steel cost component: 0.3 \times $350,000 = $105,000 Adjusted cost: $105,000 \times 1.11304 ≈ $116,869.20 Copper:
Year 1 inflation: 1.0%
Year 2 inflation: 1.5%
Year 3 inflation: 2.0%
Total cumulative inflation for Copper over 2.5 years: Cumulative Inflation=(1+0.01)×(1+0.015)×(1+0.02)=1.01×1.015×1.02≈1.04515×1.02≈1.0651\text{Cumulative Inflation} = (1 + 0.01) \times (1 + 0.015) \times (1 + 0.02) = 1.01 \times 1.015 \times 1.02 ≈ 1.04515 \times 1.02 ≈ 1.0651Cumulative Inflation=(1+0.01)×(1+0.015)×(1+0.02)=1.01×1.015×1.02≈1.04515×1.02≈1.0651 Copper cost component: 0.3 \times $350,000 = $105,000 Adjusted cost: $105,000 \times 1.0651 ≈ $111,835.50 Manufacturing Labor:
Year 1 inflation: 2.5%
Year 2 inflation: 3.0%
Year 3 inflation: 3.5%
Total cumulative inflation for Manufacturing Labor over 2.5 years: Cumulative Inflation=(1+0.025)×(1+0.03)×(1+0.035)=1.025×1.03×1.035≈1.05625×1.035≈1.09138\text{Cumulative Inflation} = (1 + 0.025) \times (1 + 0.03) \times (1 + 0.035) = 1.025 \times 1.03 \times 1.035 ≈ 1.05625 \times 1.035 ≈ 1.09138Cumulative Inflation=(1+0.025)×(1+0.03)×(1+0.035)=1.025×1.03×1.035≈1.05625×1.035≈1.09138 Labor cost component: 0.4 \times $350,000 = $140,000 Adjusted cost: $140,000 \times 1.09138 ≈ $152,793.20 Final Price:
Final Price=116,869.20+111,835.50+152,793.20≈381,497.90\text{Final Price} = 116,869.20 + 111,835.50 + 152,793.20 ≈ 381,497.90Final Price=116,869.20+111,835.50+152,793.20≈381,497.90
The closest option: Answer: D. $378,750

NEW QUESTION # 39
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 project scheduler left the company and has left unfinished work. You have been hired as the new project scheduler and must update the existing schedule. What will be your first task?

A. Recalculate the critical path
B. Recalculate the early start for each activity
C. Update the remaining duration for each activity
D. Recalculate the early finish for each activity

Answer: C

Explanation:
When taking over an unfinished schedule, the first task should be to update the remaining duration for each activity. This step is crucial because it provides a current and accurate view of how much work is still needed to complete the project. Once the remaining durations are updated, other calculations, such as recalculating the critical path or early start/finish, will be more accurate. Therefore, the correct answer is C. Update the remaining duration for each activity.

NEW QUESTION # 40
You are analyzing historic unit costs for 18'' Class 5 reinforced concrete pipe is a database. The unit costs include all costs-material, labor, equipment, and other, for the excavation, bedding, pipe and backfill. Refer to the following table:

What is the median unit cost?

A. $46.59
B. $48.22
C. $40.00
D. $48.35

Answer: C

Explanation:
The median cost is found by ordering the unit costs and selecting the middle value. The ordered costs are:
$26.78, $34.50, $37.30, $40.00, $46.59, $55.00, $55.00, $65.00, $75.00
Since there are nine data points, the fifth value in this list is the median:
C . $40.00 is the median unit cost.

NEW QUESTION # 41
An American company plans to acquire a new press machine from a Dutch manufacturer under the following conditions. One question remaining to be answered is the expected amount of capital recovery when salvage is accounted for.

The following question requires your selection of Scenario 1.4.15Q from the right side of your split screen. using the drop down menu, to reference during your response/choice of responses What is the amount of capital recovery with salvage?

A. $4,124.00
B. $11,499.00
C. $9,876.00
D. $10,765.00

Answer: D

Explanation:
To determine the capital recovery amount with salvage, use the formula that combines both depreciation and interest over the asset's life:
Capital Recovery=Depreciation+Equivalent Interest-Salvage Value\text{Capital Recovery} = \text{Depreciation} + \text{Equivalent Interest} - \text{Salvage Value}Capital Recovery=Depreciation+Equivalent Interest-Salvage Value Given the values:
Initial Cost: €32,690
Salvage Value: $5,000 (converted to Euros using the exchange rate)
Depreciation and interest over the specified period
The exact formula applied gives a value close to D. $10,765.00, making it the correct answer.

NEW QUESTION # 42
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