CCP Online Practice Questions and Answers

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

_____________is defined as the budget for the cost (work) account times the percent complete for that account.

A. Percent complete

B. Forecast

C. Cost to complete

D. Earned value

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

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

When a person hears the words being said to him/her, but does not receive the message of the words, it is called

A. Reflective listening

B. Judgmental listening

C. Passive listening

D. Directive listening

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. 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

The following question requires your selection of CCC/CCE Scenario 6 (2.7.50.1.3) 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 estimated quantities?

A. $26.78 to $75.00

B. $485

C. $45 to $530

D. $48.22

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

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

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?

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

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 early finish for each activity

B. Recalculate the early start for each activity

C. Update the remaining duration for each activity

D. Recalculate the critical path

The following question requires your selection of CCC/CCE Scenario 28 (3.7.50.1.7) from the right side of your split screen, using the drop down menu, to reference during your response/choice of responses. In the A relationship, the subcontractor might use an unbalance bid to:

A. To get more payment early in the job

B. Decrease the chances of extended claim litigation

C. Reduce the risk of quantities being greater than estimated

D. Provides an alternative to competitive bidding

The following question requires your selection of CCC/CCE Scenario 28 (3.7.50.1.7) from the right side of your split screen, using the drop down menu, to reference during your response/choice of responses. If the owner in B has as his primary goal to get the project completed and on line as fast as possible, then he would most likely use the ______________type of contract.

A. Cost plus

B. Lump sum

C. Unit Rate

D. Lump sum + incentive

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

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.

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

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%