Actualtests.CCE-CCC.100 questions

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1 Actualtests.CCE-CCC.100 questions Number: CCE-CCC Passing Score: 800 Time Limit: 120 min File Version: CCE-CCC Certified Cost Consultant (CCC)/Certified Cost Engineer (CCE) It was one and only which took me towards the biggest success without finding too much issues or worries in any way. It guided me step by step through the course. After studying for a month using it I achieved the highest in the whole city It offers easy understanding exam guide so that anyone can pass IT exam without any hesitation. This was good opportunity for me to grab exam certification with ease and for guide I did not have to go any further away it was just like that it was at my door step. Its magic did work on me as I passed exam with superb score. It has very mesmerizing patterned guidance. It gives you an easy but detailed review of the entire syllabus and the best thing is that their materials are designed as such so as to make you retain the maximum amount of course.

2 Exam A QUESTION 1 What do you call a person authorized to represent another (the principal) in some capacity? He/she can only act within this capacity or "scope of authority" to bind the principal. A. Engineer B. Alternate C. Project Manager D. Agent /Reference: : QUESTION 2 Budgeted cost of work scheduled is all of the following except: A. Total costs incurred in accomplishing work in a given-time period B. Baseline for performance measurement C. Sum of the budgets for work scheduled D. Includes portion of the budget for level-of-effort work /Reference: : QUESTION 3 Cost performance index (CPI) is defined by AACE International as: (assume no change in budgeted quantities) A. ACWP/BCWS B. BCWS/BCWP C. ACWP/BCWP D. BCWP/ACWP /Reference: : QUESTION 4 is the application of total resources ($-workers-supports) and activity durations of the logic diagram. A. Planning B. Forecasting C. Scheduling D. Modeling Correct Answer: C

3 /Reference: : QUESTION 5 is defined as covering work whose component activities are less defined and whose interrelationships are conditional. A. Soft logic B. Hard logic C. Deductive logic D. Inductive logic /Reference: right answer. QUESTION 6 A work breakdown structure (WBS) is developed because: A. It avoids omissions of key product activities through a systematic planning process; removes the complexity of the project by dividing it into manageable units; and provides a framework. B. It defines specific tasks within a project from which schedules can be developed; it aids in linking activities with resources; it facilitates communication; and it allows integration of project plans C. It can be illustrated by individual bars for major phases, such as permitting, funding, engineering, procurement construction, commission/startup D. It can be illustrated by a simple bar, with important milestones represented by symbols at the planned time of occurrence Correct Answer: B /Reference: : QUESTION 7 Any combination of unique letters, numbers, or blanks, which describes and identifies any activity or task shown on the schedule, is: A. Activity ID B. WBS Code C. Resource D. Account number

4 /Reference: : QUESTION 8 The purpose of a communication must be understood by if the message is to be clear to the A. Workers; management B. The speaker; the receiver C. Management; workers D. The receiver; the speaker Correct Answer: C /Reference: : QUESTION 9 Meetings require: A. Goals, an agenda, preparation, relevant discussions, support for your actions and to consider the total physical and human setting of the meeting B. Goals, an agenda, preparation, conclusions, control and conversations that are relevant C. Goals, an agenda, preparation, control, good listening skills and relevant discussions D. Goals, an agenda, flipchart, computer projector, laser pointer and consulting with others where appropriate Correct Answer: B /Reference: : QUESTION 10 Some of the principles of good communication are: A. Seek to clarify your ideas before communicating; examine the true purpose of each communication; consider the total physical and human setting whenever you communicate; be mindful, while you communicate, of the overtones as well as the basic content of the message B. Tell the other person what to do; give insincere praise; psychoanalyze the other person; make light of a serious problem; do not gain the trust of anyone; always have a hidden agenda C. Use short words; avoid jargon; avoid acronyms and abbreviations; use complete sentences; have a beginning, middle and end; be accurate; be interested in what topic is being communicated D. The social process by which people in a specific situation construct meaning using symbolic behavior Correct Answer: C /Reference: : QUESTION 11 The written word is often more useful than the spoken. Guidelines for writing include:

5 A. Use short sentences; use short words; avoid jargon and abbreviations; use complete sentences; stick to one idea per paragraph; have a beginning, middle and end; be accurate B. Organize the background information; state the problem list the options or alternatives; state the recommendation (s); conclude and summarize with why the recommendation is the best way to proceed C. Follow an outline; allow some time for "cooling" after compiling the draft before revising; when revising, allow plenty of time for several sessions D. Explain, report, describe, clarify, define and demonstrate Correct Answer: B /Reference: best suitable answer. QUESTION 12 The four steps to writing are: A. Introduction, paragraph, conclusion, works cited B. Start, write, complete, revise C. Abstract, body conclusion, bibliography D. Plan, write, cool, revise /Reference: : QUESTION 13 Listening to what is being said by all members of a group or audience and then summarizing or interpreting is called. A. Directive listening B. Non-listening C. Visual listening D. Facilitative listening /Reference: : QUESTION 14 In a fixed price contract the: A. Contractor has no risk in the project B. Contactor assumes all the performance risk C. Contractor is paid for actual costs D. Owner has all the risk Correct Answer: B

6 /Reference: well define answer. QUESTION 15 The following question requires your selection of CCC/CCE Scenario 2 ( ) from the right side of 6,573 hours have been expended to date. Planned completion at this time is 60%. The project is determined to be 55% complete. How many hours have been earned? A. 6,600 B. 6,960 C. 7,200 D. 6,573 /Reference: : QUESTION 16 The following question requires your selection of CCC/CCE Scenario 2 ( ) from the right side of 9,375 hours have been expended to date. Planned completion at this time is 75%. The project is determined to be 66% complete. What is the current cost performance index (CPI)?

7 A B C D Correct Answer: C /Reference: : QUESTION 17 The following question requires your selection of CCC/CCE Scenario 2 ( ) from the right side of 9,375 hours have been expended to date. Planned completion at this time is 75%. The project is determined to be 66% complete. What is the current schedule performance index (SPI)? A B C D /Reference: reliable answer. QUESTION 18

8 The following question requires your selection of CCC/CCE Scenario 2 ( ) from the right side of 10,278 hours have been expended to date. The CPI at this point in time is SPI is How many hours have been earned? A. 9,979 B. 10,586 C. 11,052 D. 9,559 /Reference: : QUESTION 19 The following question requires your selection of CCC/CCE Scenario 4 ( ) from the right side of

9 What is the cost of manufacturing labor for the piece of equipment today? A. $140,000 B. $875,000 C. $210,000 D. $105,000 /Reference: : QUESTION 20 The following question requires your selection of CCC/CCE Scenario 4 ( ) from the right side of What is the cost index value of copper at the end of Year 2? (rounded to 2 decimal positions) A B C D /Reference: actual answer. QUESTION 21

10 The following question requires your selection of CCC/CCE Scenario 4 ( ) from the right side of 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% /Reference: : QUESTION 22

11 The following question requires your selection of CCC/CCE Scenario 4 ( ) from the right side of If steel costs $1800/ton at the end of Year 3, what is the price of steel at the end of Year 4? A. $1890/ton B. $1863/ton C. $1948/ton D. $1836/ton /Reference: : QUESTION 23

12 The following question requires your selection of CCC/CCE Scenario 4 ( ) from the right side of At the end of Year 4, the commodity which experienced the greatest projected percentage price index increase over today is: A. None of the above B. Manufacturing labor C. Steel D. Copper Correct Answer: B /Reference: : QUESTION 24

13 The following question requires your selection of CCC/CCE Scenario 6 ( ) from the right side of Calculate the mean unit cost. A. $48.09 B. $48.22 C. $48.35 D. $46.59 /Reference: real answer. QUESTION 25

14 The following question requires your selection of CCC/CCE Scenario 6 ( ) from the right side of What is the range of estimated quantities? A. $26.78 to $75.00 B. $485 C. $45 to $530 D. $48.22 Correct Answer: C /Reference: : QUESTION 26 The following question requires your selection of CCC/CCE Scenario 6 ( ) from the right side of What is the relative frequency of unit costs amounting to $55.00/unit?

15 A % B. $55.00 C. 2 D /Reference: : QUESTION 27 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 ( ) from the right side of What information is needed to develop a Class 2 definitive estimate? A. Soil data, detailed construction drawings, quantity takeoffs, minimum contingency detailed indirect costs, detailed engineering estimates B. Preliminary quantities with labor, material, and factors applied, square footage of facilities, minimum contingency detailed indirect costs C. Square footage of facilities, factored indirects and home office costs D. Vendor quotes, home office detailed estimate, preliminary quantities with labor, material, and factors applied /Reference: good sort of answer. QUESTION 28 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 ( ) from the right side of Select the statement that best describes the method to estimate the cost of the new rides: A. Break down the technology into components

16 B. Call vendors for quotes C. Use historical data from past projects D. Adjust known data from existing rides /Reference: : QUESTION 29 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( ) from the right side of Select the statement that best describes the meaning of the +/-notations associated with an estimate. The actual cost is expected: A. To be exactly the percentages stated B. To fall within the percentage range stated C. To be higher or lower that the percentages stated D. To be outside the percentages stated Correct Answer: B /Reference: : QUESTION 30 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? A. Belonging needs B. Safety needs C. Power needs D. Self-actualization /Reference: : QUESTION 31 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

17 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. Cost engineers who feel completely satisfied and fulfilled by their work as part of a project team are said to have reached the stage of Maslow's hierarchy of needs. A. Need satisfaction B. Belonging needs C. Self-actualizations D. Esteem Correct Answer: C /Reference: : QUESTION 32 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? A. Belongingness needs B. Primary needs C. Self-actualization needs D. Esteem needs /Reference: : QUESTION 33 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, which level should be satisfied first? A. Physiological B. Self-actualization C. Safety needs D. Ego-status /Reference: :

18 QUESTION 34 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: A. Management makes most decisions and passes them down B. Informal organizations generally support the goals of the formal organization C. Management issues orders, but employees have some freedom to comment D. Management has a lot of confidence in the employees /Reference: : QUESTION 35 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 long-term nonproduction accounts (such as overhead accounts)? A. Ratio/level of effort B. Start/finish C. Units completed D. Incremental milestone /Reference: : QUESTION 36 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 latest allowable end time minus the earliest allowable end time on a schedule activity is referred to as: A. Activity total slack B. Remaining duration C. Just-in-time" scheduling D. Free float

19 /Reference: : QUESTION 37 The following question requires your selection of CCC/CCE Scenario 28 ( ) from the right side of If the owner in A has a primary goal of completion within budget, the following contract types with the engineer/contractor would be best: A. Engineer -- cost plus, contractor fixed price B. Engineer -- cost plus, contractor cost plus C. Engineer fixed price, contactor cost plus D. Engineer -- fixed price, contractor fixed price /Reference: definite answer. QUESTION 38

20 The following question requires your selection of CCC/CCE Scenario 28 ( ) from the right side of Given a unit price contract between the owner and contractor, each assumes the following: A. Bid unit rate, owner quantities can exceed estimate range Contractor can perform above B. Bid unit rate, owner quantities are within estimate range C. Contractor can perform at or below bid unit rate, owner quantities can exceed estimate range D. Contractor can perform at or below bid unit rate, owner quantities are within estimate range /Reference: : QUESTION 39 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 ( ) from the right side of

21 If $10,000 is scheduled to be paid out 5 years from now, what is the minimum amount we can invest today? A. $3,855 B. $8,129 C. $6,209 D. $3,791 Correct Answer: C /Reference: : QUESTION 40 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 ( ) from the right side of If $20,000 is invested at the end of each fiscal year for the next 10 years, how much would our total investment be worth assuming the interest is at 10%? A. $289,370 B. $318,740 C. $265,798 D. $420,236 Correct Answer: B /Reference: : QUESTION 41 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 ( ) from the right side of Five years from now it is required the company have $100,000. How much money should be invested at the end of each year to reach this? A. $15,937 B. $15,397

22 C. $16,380 D. $13,168 Correct Answer: C /Reference: absoulte answer. QUESTION 42 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 ( ) from the right side of If the company needs to repay a loan of $100,000 in 10 uniform annual payments, how much will each payment be? A. $16,380 B. $16,578 C. $15,937 D. $16,273 /Reference: : QUESTION 43 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 ( ) from the right side of A contractor must purchase a piece of equipment for $150,000. It has an estimated life of 10 years with no salvage value at the end. Ten years from now it will be necessary to purchase another piece of equipment, but this time it will cost $250,000. How much will the contractor need to invest at the end of each year in order to have the right amount? A. $15,687 B. $12,550 C. $16,273 D. $9,412

23 Correct Answer: C /Reference: : QUESTION 44 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 ( ) from the right side of your split screen, using the drop down menu, to reference during your response/choice of responses. Present worth calculations is represented by which of the following equations? A. Option A B. Option B C. Option C D. Option D /Reference: : QUESTION 45 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 ( ) from the right side of What is the "book value (BV) of the asset at the end of 5 years? A. $64,000 B. $16,000 C. $3,200 D. $60,000

24 /Reference: : QUESTION 46 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 ( ) from the right side of Annual estimated tax would be: A. $3,869 B. $5,565 C. $10,500 D. $11,925 Correct Answer: B /Reference: : QUESTION 47 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 ( ) from the right side of Assuming a 53% tax rate, how much cumulative depreciation will have been claimed at the end of the grain elevator's life span? A. None B. $42,400 C. $37,600 D. $80,000 /Reference: : QUESTION 48 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 main financial objective of many enterprises is:

25 A. To maximize the total long-term economic return B. Subject to a well-conceived quality control plan C. To balance opportunities and risks D. Dependent on the backlog projects and the availability of resources /Reference: : QUESTION 49 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 should be included in the life-cycle cost analysis of a power plant? A. Construction cost, operating cost, maintenance cost B. Factory expenses, distribution expenses, mark-up C. Capacity factor, end product units, physical dimensions D. Resources, work activities, final cost objects /Reference: nicely answered. QUESTION 50 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 $100,000 is needed to purchase a piece of equipment 3 years from now, how much money needs to be invested today assuming a 10% rate of return (rounded to the nearest thousand)? A. $78,000 B. $70,000 C. $75,000 D. $82,000 Correct Answer: C /Reference: : QUESTION 51 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.

26 How much money should be set aside today to have $20,000 available eight (8) years from now if the interest rate is 6% compounded annually? A. $31,875 B. $12,550 C. $29,600 D. $13,515 Correct Answer: B /Reference: : QUESTION 52 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 /Reference: : QUESTION 53 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% Correct Answer: B /Reference: reliable answer. QUESTION 54 An agricultural corporation that paid 53% in income tax wanted to build a grain elevator designed to last

27 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 /Reference: : QUESTION 55 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 assume money is worth 10%. The following question requires your selection of CCC/CCE Scenario 7 ( ) from the right side of If $10,000 is invested now at 10% compounded annually, what will the investments be worth 10 years from now? A. $25,940 B. $29,450 C. $21,345 D. $16,180 /Reference: choice of answer is correct. QUESTION 56 Which of the following is NOT an aspect of quality management? A. Quality assurance B. Quality planning C. Quality checking D. Quality control Correct Answer: C /Reference:

28 correct answer. QUESTION 57 is defined as the earned work hours or dollars for all accounts divided by the budgeted work hours or dollars for all accounts. A. Percent complete B. Cost to complete C. Earned value D. Forecast /Reference: : QUESTION 58 If a project is said to be on a "fast track program/' the fast track method is: A. Simultaneous working engineering, procurement, and construction, with appropriate overlap from each phase of work so that delays are eliminated and all the work is streamlined into a correct plan of logic/ sequence and duration for all of the work B. First completing engineering and procurement, then executing construction C. Analyzing the project and specifying the basic approach to be used in its execution; segmenting the project into reasonable number of activities; estimating the time required to perform each activity; placing the activities in time order, considering both sequential and parallel performance D. Revising the schedule logic to make it possible to identify constraints of faulty logic; revising the durations in the n p schedule that have been based on assumptions regarding the \hay the work would be performed; revise the resources to work multiple shifts; evaluate the use of overtime /Reference: : QUESTION 59 The process of stating goals and determining the most effective way of reaching them is the definition for: A. Implementing B. Mission Statement C. Managing D. Planning /Reference: :

29 QUESTION 60 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 Correct Answer: B /Reference: : QUESTION 61 A systematic coding structure for organizing and managing scope, assets, cost, resources, work and schedule activity information is a. A. Cost breakdown structure B. Code of accounts C. Cost estimate classification D. Schedule identification number Correct Answer: B /Reference: : QUESTION 62 An effort by a prime contractor to reduce the price quoted by a vendor, by providing the bid price to other vendors in an attempt to get the other vendors to underbid the original price quoted is referred to as: A. Costing B. Cost-price analysis C. Bid shopping D. Negotiating a best and final offer Correct Answer: C /Reference: : QUESTION 63 A contract clause that provides the owner with the right to terminate the contract irrespective of the general

30 contractor's liability is: A. Termination of contract - convenience B. Termination of contract - default C. Substantial completion D. Breach of contract /Reference: accurate answer. QUESTION 64 The goal of listening is to: A. Analyze what the speaker is saying B. Find out what is going on C. Have time to formulate your thoughts on the subject D. Improve communication /Reference: : QUESTION 65 NO: 37 The following question requires your selection of CCC/CCE Scenario 2 ( ) from the right side of The entire pipe has been received, hangers have been installed, and all pipes are in place. None has been welded or flushed. What percent complete is this project? A. 45% B. 50% C. 95% D. 30%

31 /Reference: : QUESTION 66 The following question requires your selection of CCC/CCE Scenario 2 ( ) from the right side of 9,375 hours have been expended to date. Planned completion at this time is 75%. The project is determined to be 66% complete. Based on current trends, how many hours will be expended at project completion? A. 16,215 B. 14,201 C. 12,000 D. 10,526 /Reference: : QUESTION 67 The following question requires your selection of CCC/CCE Scenario 2 ( ) from the right side of 10,278 hours have been expended to date. The CPI at this point in time is SPI is How many hours were planned? A. 10,586 B. 9,280

32 C. 9,559 D. 10,278 /Reference: : QUESTION 68 The following question requires your selection of CCC/CCE Scenario 4 ( ) from the right side of At the end of Year 3, steel prices will have increased by what percentage over today's price? (round to 1 decimal) A. 8.7% B. 8.2% C. 4.6% D. 8.0% /Reference: : QUESTION 69

33 The following question requires your selection of CCC/CCE Scenario 4 ( ) from the right side of At the end of 30 months, the final price for the piece of equipment will be: A. $328,810 B. $370,710 C. $375,658 D. $378,750 Correct Answer: C /Reference: : QUESTION 70

34 The following question requires your selection of CCC/CCE Scenario 6 ( ) from the right side of your split screen., using the drop down menu, to reference during your response/choice of responses. What is the range of unit costs? A. $21.57 B. $26.65 C. $48.22 D. $ /Reference: : QUESTION 71 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 ( ) from the right side of What class of estimate is used for the preliminary design phase of a project? A. Class 5 - order of magnitude estimate with +50% / -30% accuracy B. Class 1 - order of magnitude with +30% / -30% accuracy C. Class 4 - budget estimate with +30% / -15% accuracy D. Class 2 - definitive estimate with +15%/-5% accuracy

35 /Reference: : QUESTION 72 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 ( ) from the right side of Why is a +/- notation necessary when developing an estimate? A. Contingency cushion B. It makes up for the lack of time to develop a real estimate C. It is a government requirement D. There are unknowns that affect the final cost of a project /Reference: : QUESTION 73 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. After an individual's safety needs are met, what needs would the individual be motivated to fulfill next in Maslow's hierarchy of needs? A. Belonging needs B. Self-actualization C. Knowledge D. Pay and compensation /Reference: : QUESTION 74 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. A cyclical process model was chosen as the basis for total cost management (TCM) because: A. It is one of the basic tenets of quality improvement

36 B. Refinement is needed to prepare the estimate at completion (EAC) C. Strategic assets and projects have inherent life cycles D. It facilitates development of budgets and schedules Correct Answer: C /Reference: : QUESTION 75 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. Resource planning must take all of the following into account except: A. Types of materials, equipment and labor skills required to complete the project B. Cash flow (expenditures) limitations for completing work on the project C. Time available to complete the project D. Earned value techniques established for the project /Reference: approved answer. QUESTION 76 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: A. Marginal profits B. Lost profits C. Incurred profits D. Postponed profits /Reference: : QUESTION 77 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.

37 Which of the following is least likely to improve a large earthmoving contractor's productivity? A. Using apprentice operators to save labor costs B. Starting summer work in the early morning hours to minimize work during peak heat periods of the day C. Remove underground hazards prior to excavation work D. Replacing old excavators with new, larger excavators Correct Answer: B /Reference: : QUESTION 78 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 ( ) from the right side of What is the 25 year after tax present worth of this project? A. $13,738 B. $137,466 C. $(22,533) D. $22,533 /Reference: : QUESTION 79 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 ( ) from the right side of Depreciation (in the United States) is calculated in accordance with which of the following? A. Modified Accelerated Cost Recovery System (MACRS) B. The Federal IRS Reform Act (FIRSRA) C. Generally Accepted Accounting Practices (GAAP) D. Accelerated Cost Recovery System (ACRS) /Reference: satisfied answer.

38 QUESTION 80 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 is considered a measure of profitability? A. Rate of return B. Annual Dividends C. Total assets D. Annual sales /Reference: : QUESTION 81 If you deposit $100 per month for two (2) years and earn interest at 12% APR (Annual Percentage Rate) compounded monthly, how much will you have at the end of the period? A. $2,424 B. $2,976 C. $2,688 D. $2,697 /Reference: : QUESTION 82 In order to withdraw $400 at the end of each year for seven years, what amount should be deposited at 6.0% interest to leave nothing in the fund at the end of seven years? A. $2,233 B. $3,357 C. $2,483 D. $2,968

39 /Reference: : QUESTION 83 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. You have been asked to provide ETC information to management. Based on the following information, what is the ETC? Original Budget = $9,000,000 Actuals to date = $3,513,000 Current estimate at completion = $10,613,000 Actuals for current month = $1,200,000 A. $10,613,000 B. $9,000,000 C. $5,487,000 D. $7,100,000 /Reference: : QUESTION 84 A schedule's late dates are calculated during the: A. Loop calculations B. Backward pass C. Forward pass D. Float Correct Answer: B /Reference: appropriate answer. QUESTION 85 Which of the following is NOT a type of float? A. Total B. Negative C. Open end D. Free Correct Answer: C /Reference: : QUESTION 86

40 The latest allowable end time minus the earliest allowable end time on a schedule activity is referred to as: A. Total float B. Remaining duration C. Free float D. Just-in-time scheduling /Reference: : QUESTION 87 A concrete slab measuring 10 feet wide by 13.5 feet long by 6 inches deep is to be installed. How many cubic yards of concrete will be required? A. 3.0 cubic yards B. 2.0 cubic yards C. 3.5 cubic yards D. 2.5 cubic yards /Reference: : QUESTION 88 Which of the following best describes the concept of total cost management: A. A method of quantifying construction damages where the total job costs are subtracted from the original bid or estimate to determine the total cost amount for a claim B. The practices and processes utilized to manage the total life cycle cost investment in a portfolio of strategic assets C. A job cost system for ensuring all aspects of a particular manufacturing process are accumulated completely D. An integrating process that maps the fields of practice of cost engineering without linking it to project management, resource management, or accounting /Reference: definite answer. QUESTION 89 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. A. Risk analysis B. Benefit/Cost ratio (B/C) method C. Net present worth method D. Life cycle costs method (LCC)

41 /Reference: : QUESTION 90 A bond that guarantees the bidder will enter into a contract on the basis of his/her bid is referred to as: A. Surety bond B. Performance bond C. Bid bond D. Liability bond Correct Answer: C /Reference: : QUESTION 91 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 Correct Answer: B /Reference: : QUESTION 92 Productivity increases with time. This improvement is commonly associated with improvements in efficiency brought about by increased experience and skill levels. What does this scenario describe? A. Productivity efficiency factor B. Value engineering C. Cash flow D. The learning curve /Reference: : QUESTION 93 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.

42 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 Correct Answer: B /Reference: : QUESTION 94 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 is NOT an advantage of the critical path method: A. The ability to determine cost overruns of critical path activities B. The ability to identify activities that cannot have their schedules slip if the desired project end date is to be achieved C. Reveals activities that additional resources need to be dedicated toward D. The ability to show slippage in the progress of key activities /Reference: : QUESTION 95 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 What would you advise the management about the scheduled completion date? A. Project will be completed in 20 more weeks B. Project will be completed this week - on schedule C. Project will be completed in 4 more weeks D. Project will be completed in 12.8 more weeks Correct Answer: C /Reference: : QUESTION 96