CCE-CCC - Certified Cost Consultant / Cost Engineer (AACE International)

Go back to AACIE - Association for the Advancement of Cost Engineering International

Example Questions

Cost performance index (CPI) is defined by AACE International as: (assume no change in budgeted quantities) 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: Budgeted cost of work scheduled is all of the following except: 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 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: Some of the principles of good communication are: A schedule's late dates are calculated during the: 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 many years will it take to earn $400 in interest on $800 at 4% compounded annually? 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? Which of the following is NOT an aspect of quality management? A bond that guarantees the bidder will enter into a contract on the basis of his/her bid is referred to as: 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? 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? 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 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 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 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? The latest allowable end time minus the earliest allowable end time on a schedule activity is referred to as: 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. Fred Fiedler's contingency model suggests that: 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? The process of stating goals and determining the most effective way of reaching them is the definition for: 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? If you deposit $100 per month for two (2) years and earn interest at 12% APR (Annual Percentage Rate) compounded monthly, how much will you have at the end of the period? A major theme park is expanding the existing facility over a five-year period. The design phase will be completed one year after the contract is awarded. Major engineering drawings will be finalized two years after the design contract is awarded and construction will begin three years after the award of the design contract. New, unique ride technology will be used and an estimate will need to be developed to identify these costs that have no historical data. The project scheduler left the company and has left unfinished work. You have been hired as the new project scheduler and must update the existing schedule. What will be your first task? Any combination of unique letters, numbers, or blanks, which describes and identifies any activity or task shown on the schedule, is: What is a basic element of work or a task that must be performed over a given period of time in order to complete a project called? Which of the following is NOT a type of float? A major theme park is expanding the existing facility over a five-year period. The design phase will be completed one year after the contract is awarded. Major engineering drawings will be finalized two years after the design contract is awarded and construction will begin three years after the award of the design contract. New, unique ride technology will be used and an estimate will need to be developed to identify these costs that have no historical data. In an exit interview, an employee comments that the reason he is leaving the organization is lack of teamwork and cohesion among his co-workers. Which need of Maslow's hierarchy of needs is unmet? ____________is defined as the earned work hours or dollars for all accounts divided by the budgeted work hours or dollars for all accounts. ____________ is the application of total resources ($-workers-supports) and activity durations of the logic diagram. A work breakdown structure (WBS) is developed because: 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. 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. Meetings require: If a project is said to be on a "fast track program/' the fast track method is: 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 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 is least likely to improve a large earthmoving contractor's productivity? 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: Listening to what is being said by all members of a group or audience and then summarizing or interpreting is called______________. ____________ is defined as covering work whose component activities are less defined and whose interrelationships are conditional. A contract clause that provides the owner with the right to terminate the contract irrespective of the general contractor's liability is: The purpose of a communication must be understood by ____________ if the message is to be clear to the Which of the following best describes the concept of total cost management: 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? 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. 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 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 non- production accounts (such as overhead accounts)? 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: 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 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 recognition of loss of value of a natural resource used in the production process is referred to as: ______________can be defined as the determination of that course of action or combination of alternatives that yields either the lowest cost or the highest profit.

Study Guides