AACE International CCP Practice Test

THE CCP EXAM

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ABOUT CCP EXAM

CCP Exam is a product of 3FOLD Education Centre dedicated for online cost professional / cost engineering (CCP) exam preparation training. Preparing for the Certified Cost Professional exam is challenging, at the same time a rewarding experience! We will help with the challenge, you enjoy the reward! Prepare for the CCP Exam with our world class learning resources prepared by renowned experts from the industry.

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CCP EXAM BASICS

In order to sit for the exam, you must first fill out an application and your application must be qualified by the CCP Committee. See 6 Steps to Certification and Application for more information about the application process. The examination includes 200 multiple choice, true/false, and fill-in-the-blank questions, equally divided among the ten topics listed in the CCP Practice Exam. Two essay questions, from a choice of seven topics, must also be answered. In addition, applicants can earn an extra five points by completing a third essay question, which will be reviewed only if the exam score is borderline. The exam does not test specific expert knowledge within any particular segment of the industry. Passing the exam reflects an advanced knowledge of many different aspects of the culinary field. That said, your chances of success will increase if you have a working knowledge of the major ethnic cuisines, a thorough foundation in techniques, and a familiarity with sanitation requirements and basic nutrition. To assure confidentiality and objectivity, examinations are identified to those scoring by number rather than by the candidate's name. A passing score on the exam is 70%. Over 90% of those taking the exam pass it on the first try.

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PREPPING FOR THE EXAM

Before attending a review session or sitting for the exam, we recommend that you study both the:  CCP Practice Exam and  CCP Reading List.

Many of the exam questions are drawn from the sources in the reading list. A certification review session is offered during the Annual Conference, typically held in April. Review sessions can also be scheduled at other times and in other locales by contacting the CCP Committee Chair. If you need additional assistance with your study program, you can arrange mentoring support through our CCP Study Hall Program. Again, contact the Committee Chair for more information. http://www.pass4sures.co/CCP.html

PASS THE CCP EXAM THE FIRST TIME

Overall, the AACE International (CCP Practice Exam) designation is a daunting challenge, and the odds of success from start to finish are slim; less than 20% of those who begin this challenge reach the end. However, as one in five candidates have demonstrated, it is possible. There is no secret code to navigating through the CCP Practice Exam program and passing the test, but an organized, disciplined approach will help you pass each level of the program and ultimately achieve your goal. Find out what you'll need to make the cut and pass each level on your first try. http://www.pass4sures.co/CCP.html

CCP AACE INTERNATIONAL STUDY GUIDE

Pass4sure CCP AACE International study guide imparts confidence to its clients to shake off their exam fears of CCP and get an assured success, employing only minimum efforts. By using Pass 4 sure’s Exam CCP products you are assured to pass IT certification exam with 100% money back guarantee. http://www.pass4sures.co/CCP.html

AACE INTERNATIONAL Exam CCP Certified Cost Professional (CCP) Exam Version: Demo

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AACE INTERNATIONAL CCP PRACTICE TEST Question No : 1 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. $6.80 B. $3.10 C. $5.35 D. $2.22

Answer: A http://www.pass4sures.co/CCP.html

AACE INTERNATIONAL CCP PRACTICE TEST Question No : 2 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?

A. Liability insurance B. Performance bond C. Bid bond D. Surety bond Answer: B

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AACE INTERNATIONAL CCP PRACTICE TEST Question No : 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.

Which of the following methods a used for creating critical path schedules: A. Precedence diagram method B. Precedence and arrow diagram methods only C. Gantt chart (bar chart) method D. Arrow diagram method Answer: B http://www.pass4sures.co/CCP.html

AACE INTERNATIONAL CCP PRACTICE TEST Question No : 4 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. Which of the following percent complete measurement techniques is best suited for longterm nonproduction accounts (such as overhead accounts)? A. Ratio/level of effort B. Start/finish C. Units completed D. Incremental milestone Answer: D http://www.pass4sures.co/CCP.html

AACE INTERNATIONAL CCP PRACTICE TEST Question No : 5 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 following question requires your selection of CCC/CCE Scenario 26 (2.5.50.1.2) from the right side of your split screen, using the drop down menu, to reference during your response/choice of responses. Which statement best describes the type of information available for a design phase estimate? A. Home office detail, specific vendor quotes, preliminary quantities with labor and material factors applied B. Square footage of buildings, factored indirects, types of rides and exhibits identified, utility requirements, conceptual layouts C. Detailed construction drawings, quantity takeoffs, detailed labor hours and material costs applied, quotes from all major subcontractors D. Utility requirements, detailed building plans and (- specifications, types of rides and exhibits identified, all vendor quotes or estimates received from subcontractors

Answer: D http://www.pass4sures.co/CCP.html

AACE INTERNATIONAL CCP PRACTICE TEST Question No : 6 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 following question requires your selection of CCC/CCE Scenario 26 (2.5.50.1.2) from the right side of your split screen, using the drop down menu, to reference during your response/choice of responses. Select the statement that best describes the method to estimate the cost of the new rides: A. Break down the technology into components B. Call vendors for quotes C. Use historical data from past projects D. Adjust known data from existing rides

Answer: D http://www.pass4sures.co/CCP.html

AACE INTERNATIONAL CCP PRACTICE TEST Question No : 7 What is a basic element of work or a task that must be performed over a given period of time in order to complete a project called? A. WBS element B. Activity C. Resource D. Commodity Answer: B

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AACE INTERNATIONAL CCP PRACTICE TEST Question No : 8

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AACE INTERNATIONAL CCP PRACTICE TEST Question No : 8 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, copper prices will have increased by what percentage over today's price? A. 4.6% B. 3.5% C. 6.6% D. 2.5%

Answer: D

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AACE INTERNATIONAL CCP PRACTICE TEST Question No : 9 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. Which of the following interest rates disregards the effects of compounding periods that occur more frequent than annually? A. Continuous compounding rate B. Simple interest rate C. Minimum attractive rate of return D. Nominal interest rate Answer: D

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AACE INTERNATIONAL CCP PRACTICE TEST Question No : 10 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 you buy a lot for $3,000 and sell it for $6,000 at the end of 8 years, what is your annual rate of return? A. 10.4% B. 9.1% C. 8.3% D. 9.9% Answer: B

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PASS4SURE CCP EXAM FEATURES  CCP Questions Based on Real Exams Scenarios  Experts Verified Questions and Answers  Easy to use Testing Engine & print PDF format  Download Free CCP Demo (Try before Buy)  According to recommended syllabus and Objectives  100% Pass Guaranteed

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