AACE INTERNATIONAL CCP FREE EXAM QUESTIONS, CCP RELIABLE TEST ONLINE

AACE International CCP Free Exam Questions, CCP Reliable Test Online

AACE International CCP Free Exam Questions, CCP Reliable Test Online

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AACE International Certified Cost Professional (CCP) Exam Sample Questions (Q165-Q170):

NEW QUESTION # 165

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 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 cost plus
  • B. Engineer - fixed price, contractor fixed price
  • C. Engineer - cost plus, contractor fixed price
  • D. Engineer fixed price, contactor cost plus

Answer: B


NEW QUESTION # 166
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. $5,487,000
  • B. $7,100,000
  • C. $10,613,000
  • D. $9,000,000

Answer: B


NEW QUESTION # 167
____________ is the application of total resources ($-workers-supports) and activity durations of the logic diagram.

  • A. Forecasting
  • B. Scheduling
  • C. Modeling
  • D. Planning

Answer: B

Explanation:
Scheduling is the process of assigning resources (such as labor, materials, and equipment) to project activities and determining the timing and sequence of these activities. The term "scheduling" specifically refers to the application of total resources (including workers and support) and the activity durations outlined in a logic diagram. The logic diagram, often depicted as a network or Gantt chart, shows the sequence and dependencies of project activities, enabling planners to establish a timeline for the project.
Option A: Planning is broader and includes not only scheduling but also the development of strategies, policies, and procedures for achieving the project's objectives.
Option B: Forecasting involves predicting future project performance based on current data, not directly the application of resources and activity durations.
Option D: Modeling refers to the creation of representations or simulations of the project, which may include scheduling but is not limited to it.
Thus, C. Scheduling is the correct answer as it accurately describes the application of resources and activity durations within a logic diagram.


NEW QUESTION # 168
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 (4.2.50.1.1) from the right side of your split screen, using the drop down menu, to reference during your response/choice of responses.
Annual estimated tax would be:

  • A. $10,500
  • B. $3,869
  • C. $11,925
  • D. $5,565

Answer: B

Explanation:
To calculate the taxable income:
Annual income: $22,500
Annual expenditures: $12,000
Depreciation: $3,200
Taxable Income: 22,500-12,000-3,200=7,30022,500 - 12,000 - 3,200 = 7,30022,500-12,000-3,200=7,300 Tax Rate: 53% Estimated Annual Tax: 7,300×0.53=3,8697,300 times 0.53 = 3,8697,300×0.53=3,869


NEW QUESTION # 169
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 (4.2.50.1.1) from the right side of your split screen, using the drop down menu, to reference during your response/choice of responses.
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. $80,000
  • C. $42,400
  • D. $37,600

Answer: B


NEW QUESTION # 170
......

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