Free Certified Cost Professional (CCP) Exam CCP Exam Practice Test

SCENARIO: A can manufacturing company requested you to provide data for their decision making The unit prices of the can varies but an average selling price of $0.55 cents and average cost of S45 cents is estimated.The monthly fixed costs are:Rant-$1,500 Wages - $4.000Miscellaneous fixed expenses - $500If the rent increases by 100% and the unit sales/other costs remain unchanged, the new break evenamount is?

• $60,000
• $41,250
• $33,000

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?

• Belonging needs
• Safety needs
• Power needs
• Self-actualization

A used concrete pumping truck can be purchased for $125,000. The operation costs are expected to be $65,000 the first year and increase 5% each year thereafter. As a result of the purchase, the company will see an increase in income of $100,000 the first year and 5% more each subsequent year. The company uses straight-line depreciation. The truck will have a useful life of five (5) years and no salvage value. Management would like to see a 10% return on any investment. The company's tax rate is 28%.Taxes due at the end of year five (5) would be:

• $34,034
• $4,912
• $11,912
• $35,000

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.Profits that could not be formally recognized during a specific financial accounting period because the goods and services did not satisfy all the customer's requirements are:

• Marginal profits
• Lost profits
• Incurred profits
• Postponed profits

Which of the following is NOT a part of the five (5) phases of value engineering?

• Cost reduction
• Functional analysis
• Creative
• Information gathering

What is executed in connection with a contract and secures the performance and fulfillment of all the undertakings, covenants, terms, conditions and agreements contained in the contract?

• Liability insurance
• Performance bond
• Bid bond
• Surety bond

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 bedeveloped to identify these costs that have no historical data.According to Maslow's hierarchy of needs, which level should be satisfied first?

• Physiological
• Self-actualization
• Safety needs
• Ego-status

A used concrete pumping truck can be purchased for $125,000. The operation costs are expected to be $65,000 the first year and increase 5% each year thereafter. As a result of the purchase, the company will see an increase in income of $100,000 the first year and 5% more each subsequent year. The company uses straight-line depreciation. The truck will have a useful life of five (5) years and no salvage value. Management would like to see a 10% return on any investment. The company's tax rate is 28%.Student will receive scholarship when the GPA is within top 2%. The mean GPA is 2.8 and standard deviation is 0.5.How high must the GPA be to qualify for the scholarship?

• 3.62
• 3.35
• 3.91
• 3.83

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 assure 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 you are scheduled for a $100,000 payment at the end of each year for the next five years, what is the equivalent amount if you were to make a lump sum payment now?

• $162,370
• $679,397
• $379,100
• $500,000

A used concrete pumping truck can be purchased for $125,000. The operation costs are expected to be $65,000 the first year and increase 5% each year thereafter. As a result of the purchase, the company will see an increase in income of $100,000 the first year and 5% more each subsequent year. The company uses straight-line depreciation. The truck will have a useful life of five (5) years and no salvage value. Management would like to see a 10% return on any investment. The company's tax rate is 28%.The return on investment at the end of the fifth year would be:Greater than 10%UnknownEqual to 10%Less than 10%

• Greater than 10%.