AACE CCP Certified Cost Professional (CCP) Exam Online Training
AACE CCP Online Training
The questions for CCP were last updated at Feb 20,2025.
- Exam Code: CCP
- Exam Name: Certified Cost Professional (CCP) Exam
- Certification Provider: AACE
- Latest update: Feb 20,2025
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
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
Which of the following is NOT an aspect of quality management?
- A . Quality assurance
- B . Quality planning
- C . Quality checking
- D . Quality control
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
____________ is the application of total resources ($-workers-supports) and activity durations of the logic diagram.
- A . Planning
- B . Forecasting
- C . Scheduling
- D . Modeling
____________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
_____________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
____________ 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
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
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
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