CCP/CCT Practice Questions With Actual Correct Answers| Graded A+

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 - correct answers Answer: D 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 - correct answers Answer: D Which of the following is NOT an aspect of quality management? A. Quality assurance B. Quality planning C. Quality checking D. Quality control - correct answers Answer: C 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 - correct answers Answer: D ____________ is the application of total resources ($-workers-supports) and activity durations of the logic diagram. A. Planning B. Forecasting C. Scheduling D. Modeling - correct answers Answer: C ____________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 - correct answers Answer: A _____________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 - correct answers Answer: D ____________ 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 - correct answers Answer: A 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 - correct answers Answer: B 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 th - correct answers Answer: A Any combination of unique letters, numbers, or blanks, which describes and identifies any activity or task shown on the schedule, is: A. Activity ID B. WBS Code C. Resource D. Account number - correct answers Answer: A The process of stating goals and determining the most effective way of reaching them is the definition for: A. Implementing B. Mission Statement C. Managing D. Planning - correct answers Answer: D A schedule's late dates are calculated during the: A. Loop calculations B. Backward pass C. Forward pass D. Float - correct answers Answer: B Which of the following is NOT a type of float? A. Total B. Negative C. Open end D. Free - correct answers Answer: C The latest allowable end time minus the earliest allowable end time on a schedule activity is referred to as: A. Total float B. Remaining duration C. Free float D. Just-in-time scheduling - correct answers Answer: A 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? A. WBS element B. Activity C. Resource D. Commodity - correct answers Answer: B A concrete slab measuring 10 feet wide by 13.5 feet long by 6 inches deep is to be installed. How many cubic yards of concrete will be required? A. 3.0 cubic yards B. 2.0 cubic yards C. 3.5 cubic yards D. 2.5 cubic yards - correct answers Answer: D A systematic coding structure for organizing and managing scope, assets, cost, resources, work and schedule activity information is a______________. A. Cost breakdown structure B. Code of accounts C. Cost estimate classification D. Schedule identification number - correct answers Answer: B 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 - correct answers Answer: D 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. A. Risk analysis B. Benefit/Cost ratio (B/C) method C. Net present worth method D. Life cycle costs method (LCC) - correct answers Answer: D ______________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. A. Economic optimization B. Simulation C. Linear programming D. Dynamic programming - correct answers Answer: D A bond that guarantees the bidder will enter into a contract on the basis of his/her bid is referred to as: A. Surety bond B. Performance bond C. Bid bond D. Liability bond - correct answers Answer: C 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. Costing B. Cost-price analysis C. Bid shopping D. Negotiating a best and final offer - correct answers Answer: C 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? A. Liability insurance B. Performance bond C. Bid bond D. Surety bond - correct answers Answer: B Productivity increases with time. This improvement is commonly associated with improvements in efficiency brought about by increased experience and skill levels. What does this scenario describe? A. Productivity efficiency factor B. Value engineering C. Cash flow D. The learning curve - correct answers Answer: D A contract clause that provides the owner with the right to terminate the contract irrespective of the general contractor's liability is: A. Termination of contract - convenience B. Termination of contract - default C. Substantial completion D. Breach of contract - correct answers Answer: A The purpose of a communication must be understood by ____________ if the message is to be clear to the A. Workers; management B. The speaker; the receiver C. Management; workers D. The receiver; the speaker - correct answers Answer: C Meetings require: A. Goals, an agenda, preparation, relevant discussions, support for your actions and to consider the total physical and human setting of the meeting B. Goals, an agenda, preparation, conclusions, control and conversations that are relevant C. Goals, an agenda, preparation, control, good listening skills and relevant discussions D. Goals, an agenda, flipchart, computer projector, laser pointer and consulting with others where appropriate - correct answers Answer: B The goal of listening is to: A. Analyze what the speaker is saying B. Find out what is going on C. Have time to formulate your thoughts on the subject D. Improve communication - correct answers Answer: D Some of the principles of good communication are: A. Seek to clarify your ideas before communicating; examine the true purpose of each communication; consider the total physical and human setting whenever you communicate; be mindful, while you communicate, of the overtones as well as the basic content of the message B. Tell the other person what to do; give insincere praise; psychoanalyze the other person; make light of a serious problem; do not gain the trust of anyone; always have a hidden agenda C. Use short words; avoid jargon; avoid acronyms and abbreviations; use complete sentences; have a beginning, middle and end; be accurate; be interested in what topic is being communicated D. The social process by which people in a specific situation construct meaning using symbolic behavior - correct answers Answer: C The written word is often more useful than the spoken. Guidelines for writing include: A. Use short sentences; use short words; avoid jargon and abbreviations; use complete sentences; stick to one idea per paragraph; have a beginning, middle and end; be accurate B. Organize the background information; state the problem list the options or alternatives; state the recommendation (s); conclude and summarize with why the recommendation is the best way to proceed C. Follow an outline; allow some time for "cooling" after compiling the draft before revising; when revising, allow plenty of time for several sessions D. Explain, report, describe, clarify, define and demonstrate - correct answers Answer: B The four steps to writing are: A. Introduction, paragraph, conclusion, works cited B. Start, write, complete, revise C. Abstract, body conclusion, bibliography D. Plan, write, cool, revise - correct answers Answer: D Two of the most important things to know when planning a speech or lecture are the ______________and______________ of your audience. A. Motivation, professionalism B. Background, attitude C. Political preference, sense of humor D. Culture, understanding - correct answers Answer: D 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 - correct answers Answer: C Listening to what is being said by all members of a group or audience and then summarizing or interpreting is called______________. A. Directive listening B. Non-listening C. Visual listening D. Facilitative listening - correct answers Answer: A In a fixed price contract the: A. Contractor has no risk in the project B. Contactor assumes all the performance risk C. Contractor is paid for actual costs D. Owner has all the risk - correct answers Answer: B Missing Picture The following question requires your selection of CCC/CCE Scenario 2 (2.3.50.1.2) from the right side of your split screen, using the drop down menu, to reference during your response/choice of responses. The entire pipe has been received, hangers have been installed, and all pipes are in place. None has been welded or flushed. What percent complete is this project? A. 45% B. 50% C. 95% D. 30% - correct answers Answer: A Missing Picture The following question requires your selection of CCC/CCE Scenario 2 (2.3.50.1.2) from the right side of your split screen, using the drop down menu, to reference during your response/choice of responses. 6,573 hours have been expended to date. Planned completion at this time is 60%. The project is determined to be 55% complete. How many hours have been earned? A. 6,600 B. 6,960 C. 7,200 D. 6,573 - correct answers Answer: D Missing Picture The following question requires your selection of CCC/CCE Scenario 2 (2.3.50.1.2) from the right side of your split screen, using the drop down menu, to reference during your response/choice of responses. 9,375 hours have been expended to date. Planned completion at this time is 75%. The project is determined to be 66% complete. What is the current cost performance index (CPI)? A. 0.96 B. 0.84 C. 1.14 D. 0.88 - correct answers Answer: C The following question requires your selection of CCC/CCE Scenario 2 (2.3.50.1.2) from the right side of your split screen, using the drop down menu, to reference during your response/choice of responses. 9,375 hours have been expended to date. Planned completion at this time is 75%. The project is determined to be 66% complete. What is the current schedule performance index (SPI)? A. 0.96 B. 0.88 C. 0.84 D. 1.14 - correct answers Answer: D The following question requires your selection of CCC/CCE Scenario 2 (2.3.50.1.2) from the right side of your split screen, using the drop down menu, to reference during your response/choice of responses. 9,375 hours have been expended to date. Planned completion at this time is 75%. The project is determined to be 66% complete. Based on current trends, how many hours will be expended at project completion? A. 16,215 B. 14,201 C. 12,000 D. 10,526 - correct answers Answer: D The following question requires your selection of CCC/CCE Scenario 2 (2.3.50.1.2) from the right side of your split screen, using the drop down menu, to reference during your response/choice of responses. 10,278 hours have been expended to date. The CPI at this point in time is 0.93. SPI is 1.03. How many hours have been earned? A. 9,979 B. 10,586 C. 11,052 D. 9,559 - correct answers Answer: D The following question requires your selection of CCC/CCE Scenario 2 (2.3.50.1.2) from the right side of you split screen, using the drop down menu, to reference during your response/choice of responses. 10,278 hours have been expended to date. The CPI at this point in time is 0.93. SPI is 1.03. How many hours were planned? A. 10,586 B. 9,280 C. 9,559 D. 10,278 - correct answers Answer: A 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 - correct answers Answer: A 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 index value of copper at the end of Year 2? (rounded to 2 decimal positions) A. 4.62 B. 4.24 C. 4.10 D. 4.31 - correct answers Answer: D 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. At the end of Year 3, steel prices will have increased by what percentage over today's price? (round to 1 decimal) A. 8.7% B. 8.2% C. 4.6% D. 8.0% - correct answers Answer: D 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. At the end of 30 months, copper prices will have increased by what percentage over today's price? A. 4.6% B. 3.5% C. 6.6% D. 2.5% - correct answers Answer: D 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 you