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

Budgeted cost of work scheduled is all of the following except:

• Total costs incurred in accomplishing work in a given-time period
• Baseline for performance measurement
• Sum of the budgets for work scheduled
• Includes portion of the budget for level-of-effort work

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.The following question requires your selection of CCC/CCE Scenario 17 (4.2.50.1.1) from the right side of your split screen, using the drop down menu, to reference during your response/choice of responses.Assuming a 53% tax rate, how much cumulative depreciation will have been claimed at the end of the grain elevator's life span?

• None
• $42,400
• $37,600
• $80,000

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.In an exit interview, an employee comments that the reason he is leaving the organization is lack of teamwork and cohesion among his co-workers. Which need of Maslow's hierarchy of needs is unmet?

• Belongingness needs
• Primary needs
• Self-actualization needs
• Esteem needs

Which of the following is a common technique to approximate the standard deviation?

• Range/4
• Range/16
• Range * 2
• Square root of the range

The four steps to writing are:

• Introduction, paragraph, conclusion, works cited
• Start, write, complete, revise
• Abstract, body conclusion, bibliography
• Plan, write, cool, revise

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.You are reporting on a roadway project, which was estimated to be 10 miles of road. It was scheduled to be completed in 16 weeks, which is this week. According to your calculations, the project has a schedule performance index of 0.80. What would you advise the management about the scheduled completion date?

• Project will be completed in 20 more weeks
• Project will be completed this week - on schedule
• Project will be completed in 4 more weeks
• Project will be completed in 12.8 more weeks

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 mothed that has a compound amount factor and a present worth factor. There is the uniform annual series that has a sinking fund factor, capita1 recovery factor and also the compound amount factor and present worth factor. At this point, we can assume money is worth 10%.Which of the following is not one of the requirements to form a contract?

• Consideration
• Competent parties
• Legality of purpose
• Agent

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.Fred Fiedler's contingency model suggests that:

• Leadership styles are just the opposite of the managerial grid model
• Successful leadership depends upon a good match
• between the style of the leader and the demands of the situation
• Successful leadership can always be imposed by experienced supervision
• A relationship oriented leader described the least preferred worker in an unfavorable light

AACE International defines as a technique of economic evaluation that sums over a given study period, the costs of initial investment, replacements, operations, and maintenance/repair; expressed in either present or annual value terms.

• Risk analysis
• Benefit/Cost ratio (B/C) method
• Net present worth method
• Life cycle costs method (LCC)

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.The following question requires your selection of CCC/CCE Scenario 17 (4.2.50.1.1) from the right side of your split screen, using the drop down menu, to reference during your response/choice of responses.What is the 25 year after tax present worth of this project?

• $13,738
• $137,466
• $(22,533)
• $22,533