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AACE International CCP Exam Questions

Exam Name: Certified Cost Professional (CCP) Exam
Exam Code: CCP
Related Certification(s): AACE International CCP Certification
Certification Provider: AACE International
Actual Exam Duration: 300 Minutes
Number of CCP practice questions in our database: 189 (updated: Jan. 19, 2025)
Expected CCP Exam Topics, as suggested by AACE International :
  • Topic 1: Basic Skills and Knowledge: This section covers key concepts in cost-related terminology, statistical analysis, economic evaluation, financial reporting, and benchmarking methods crucial for cost engineering.
  • Topic 2: Cost Estimating: This section focuses on diverse estimating methodologies, techniques, cost evaluation, and effective management of cost data to ensure precise project estimates.
  • Topic 3: Planning and Scheduling: This section covers project planning, resource management, scheduling strategies, and approaches for monitoring, controlling, and assessing schedule risks.
  • Topic 4: Cost Control: In this section, candidates are tested for skills related to budgeting, forecasting, cost management techniques like EVM, handling scope changes, and evaluating cost-related risks and performance metrics.
  • Topic 5: Project Management: This domain covers the project life cycle, integration management, quality control, contract management, and procurement processes within the project management scope.
  • Topic 6: Enterprise in Cost Management: In this section, the skills measured include ERP integration, portfolio management, performance assessment, and value engineering aimed at optimizing costs and improving organizational efficiency.
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Holley

6 days ago
Successfully cleared the CCP exam! Pass4Success's questions were incredibly similar to the actual test. Thank you!
upvoted 0 times
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Scot

11 days ago
I recently passed the CCP exam, and the practice questions from Pass4Success were a great help. One question that I found tricky was about planning and scheduling, specifically the use of Gantt charts. I wasn't entirely sure how to interpret the dependencies, but I managed to get through it.
upvoted 0 times
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Jesusita

1 months ago
AACE CCP exam conquered! Pass4Success's practice tests were invaluable. Appreciate the quality material!
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Omega

1 months ago
Having passed the CCP exam, I can attest to the value of Pass4Success practice questions. A challenging question on the exam asked about the different types of cost estimating techniques, particularly bottom-up estimating. I was unsure about the detailed steps involved, but I still passed.
upvoted 0 times
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Antonio

2 months ago
I am pleased to announce that I passed the CCP exam, with significant help from Pass4Success practice questions. One question that I found difficult was related to basic skills and knowledge, specifically the principles of financial accounting. I wasn't entirely sure about the differences between various financial statements, but I succeeded.
upvoted 0 times
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Erick

2 months ago
CCP certification achieved! Pass4Success's exam prep was efficient and effective. Thanks for the support!
upvoted 0 times
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Lon

2 months ago
The CCP exam is behind me now, and I owe a lot to the Pass4Success practice questions. There was a particularly tough question on cost control, asking about the variance analysis process. I had to think carefully about the different types of variances, but I managed to pass.
upvoted 0 times
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Brandee

3 months ago
I passed the CCP exam recently, and the practice questions from Pass4Success were incredibly useful. One question that gave me pause was about the different types of project management methodologies, particularly Agile vs. Waterfall. I wasn't sure about the best application for each, but I got through it.
upvoted 0 times
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Rhea

3 months ago
Passed the AACE CCP! Pass4Success's materials were a lifesaver. Couldn't have done it without their relevant questions.
upvoted 0 times
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Hermila

3 months ago
Having just passed the CCP exam, I can confidently say that the Pass4Success practice questions were a big help. There was a question about enterprise in cost management that asked about the role of cost centers in an organization. I wasn't entirely confident in my answer, but I still managed to pass.
upvoted 0 times
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Barb

4 months ago
I am thrilled to share that I passed the CCP exam, thanks in part to the excellent practice questions from Pass4Success. One challenging question involved the principles of planning and scheduling, specifically the critical path method (CPM). I was a bit unsure about how to calculate the float, but it all worked out in the end.
upvoted 0 times
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Adell

4 months ago
Wow, the CCP exam was tough, but I made it! Pass4Success really helped me focus on the right topics. Grateful!
upvoted 0 times
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Valda

4 months ago
Thank you for sharing your experience. It seems Pass4Success really helped you prepare effectively for the CCP exam.
upvoted 0 times
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Nichelle

4 months ago
Passing the CCP exam was a significant milestone for me, and the practice questions from Pass4Success played a crucial role. There was a tricky question on the exam about the various methods of cost estimating, particularly the difference between parametric and analogous estimating. I had to think hard about it, but I eventually passed.
upvoted 0 times
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Keneth

5 months ago
Industry-specific questions were present. Review cost engineering principles as they apply to different sectors. Understand unique challenges and methodologies in construction and manufacturing projects.
upvoted 0 times
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Earnestine

5 months ago
I recently passed the AACE International Certified Cost Professional (CCP) Exam, and I must say that the Pass4Success practice questions were instrumental in my preparation. One question that stumped me was about the different types of cost control techniques used in project management. I wasn't entirely sure about the specifics of Earned Value Management (EVM), but I managed to get through it.
upvoted 0 times
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Judy

5 months ago
Just passed the AACE CCP exam! Pass4Success's practice questions were spot-on. Thanks for the quick prep!
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Free AACE International CCP Exam Actual Questions

Note: Premium Questions for CCP were last updated On Jan. 19, 2025 (see below)

Question #1

You are reporting the following Earned Value Analysis information for the project:

EV= $1,500,000

AC=$1.000,000

PV= $2,000,000

What is the status of the project?

Reveal Solution Hide Solution
Correct Answer: C

The problem provides key metrics used in Earned Value Management (EVM):

Earned Value (EV): $1,500,000

Actual Cost (AC): $1,000,000

Planned Value (PV): $2,000,000

Key Points:

Schedule Performance Index (SPI):

SPI = EV / PV = $1,500,000 / $2,000,000 = 0.75

An SPI less than 1 indicates the project is behind schedule.

Cost Performance Index (CPI):

CPI = EV / AC = $1,500,000 / $1,000,000 = 1.5

A CPI greater than 1 indicates the project is under budget.

Conclusion: The correct answer is C. Project is behind schedule, but under budget because the SPI indicates a delay in schedule, and the CPI shows that the project is currently spending less than planned.


Question #2

Which of the following best describes the three key participants for projects that are executed under a three-party contractual relationship?

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Correct Answer: C

In construction and project management, a three-party contractual relationship typically involves three key participants: the Owner, the Engineer, and the Contractor.

Key Points:

Owner:

The entity that funds and owns the project. The owner defines the project scope, objectives, and requirements and is the ultimate decision-maker.

Engineer:

Often referred to as the 'Designer' or 'Consultant,' the engineer is responsible for the technical design and specifications of the project. They ensure the project is constructed according to the owner's requirements and standards.

Contractor:

The party responsible for executing the construction work. The contractor follows the design provided by the engineer and delivers the project within the agreed terms of the contract.

Conclusion: The correct answer is C. Owner, engineer, contractor because these three parties are central to the execution and management of construction projects under a three-party contractual arrangement.


Question #3

You are reporting the following Earned Value Analysis information for the project:

EV= $1,500,000

AC=$1.000,000

PV= $2,000,000

What is the status of the project?

Reveal Solution Hide Solution
Correct Answer: C

The problem provides key metrics used in Earned Value Management (EVM):

Earned Value (EV): $1,500,000

Actual Cost (AC): $1,000,000

Planned Value (PV): $2,000,000

Key Points:

Schedule Performance Index (SPI):

SPI = EV / PV = $1,500,000 / $2,000,000 = 0.75

An SPI less than 1 indicates the project is behind schedule.

Cost Performance Index (CPI):

CPI = EV / AC = $1,500,000 / $1,000,000 = 1.5

A CPI greater than 1 indicates the project is under budget.

Conclusion: The correct answer is C. Project is behind schedule, but under budget because the SPI indicates a delay in schedule, and the CPI shows that the project is currently spending less than planned.


Question #4

A used concrete pumping truck can be purchased for $125,000. The operation costs are expected to be $65,000 the first year and increase 5% each year thereafter. As a result of the purchase, the company will see an increase in income of $100,000 the first year and 5% more each subsequent year. The company uses straight-line depreciation. The truck will have a useful life of five (5) years and no salvage value. Management would like to see a 10% return on any investment. The company's tax rate is 28%.

All of the following are characteristics of standard normal distribution, except:

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Correct Answer: A

The statement that the 'means and median are not equal' is incorrect for a standard normal distribution. In a standard normal distribution, the mean, median, and mode are all equal, as the distribution is perfectly symmetrical. The correct characteristics of a standard normal distribution are that approximately 68% of the values fall within one standard deviation of the mean, the total area under the curve is 1, and the curve shape is symmetrical.


Question #5

The measure of number of units completed divided by work-hours consumed is referred to as:

Reveal Solution Hide Solution
Correct Answer: C

Productivity is defined as the measure of the number of units completed divided by the work-hours consumed. It is a key performance indicator in construction and other project-based industries, reflecting how efficiently resources are being used to produce outputs.

Key Points:

Productivity Calculation:

Productivity = Number of units completed / Work-hours consumed.

Higher productivity means more output is being generated per unit of time, indicating efficient use of resources.

Other Terms:

Lined Value: Not a standard term related to productivity.

Credit Work-Hours: A concept related to earned work-hours, not a direct measure of productivity.

Cost Performance Index (CPI): A measure in earned value management indicating the cost efficiency of budgeted resources, calculated as EV/AC.

Conclusion: The correct answer is C. Productivity because it directly refers to the efficiency of labor in terms of output per work-hour.


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