1|Page
AACE CCT PRIMER EXAM LATEST 2026-2027 ACTUAL EXAM WITH
COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS (100%
VERIFIED ANSWERS) |ALREADY GRADED A+| ||PROFESSOR
VERIFIED|| ||BRANDNEW!!!||
The theory of needs is another approach to motivation that states
people who value the need for _______ are often those people
who are the leaders in the areas of ____ and _____ growth. -
ANSWER-achievment, creativity, economic
The fear of failure approach can be a strong motivator in
situations when the _________ for failure
are especially distasteful or _______. However, it should be
employed only in ______ circumstances, such as if a project is
headed for crisis, and immediate action is required - ANSWER-
consequences, catastrophic, unusual
The sum of the practices and processes that an enterprise uses
to manage the total life cycle cost investment in its portfolio of
strategic assets is called _________ - ANSWER-Total Cost
Management
______ is the application of scientific principles and techniques to
problems of :
,2|Page
- estimation
- cost control
- business planning & management science
- profitability analysis
- project management
- planning & scheduling - ANSWER-Cost Engineering
_______ Is the value of an activity or asset. Generally, this value
is determined by the cost of the resources that are expended to
complete the activity or produce the asset. An example would be
the facilities needed to produce an activity or asset, which would
include the tooling, electricity, taxes, and maintenance, etc.,
necessary to keep the facility available for use. Other costs might
be office supplies, communication costs, travel costs, and security
costs - ANSWER-Cost
Any consumable, except time, required to accomplish an activity
are considered _______. From a total cost and asset
management perspective, _______ may include any real or
potential investment in strategic assets including time, monetary,
human, and physical. - ANSWER-Resources, Resources
,3|Page
A resource becomes a cost when it is ______ or consumed in an
_____or project - ANSWER-invested, project
Material, labor, and "other" are categories of _________. -
ANSWER-Resources
The product lifecycle is the complete history of a product through
its ______, definition, production, operation, and obsolescence
/______ phases. - ANSWER-concept, disposal
The distinction between product life cycle and project life cycle is
that the latter does not include the ______ and ______. -
ANSWER-operation, disposal
___________ is the systematic numeric method of classifying
various categories of costs for accounting purposes - ANSWER-
Code of Accounts
, 4|Page
______ is used used in situations where each job is different and
is performed to the customer's specifications. ______ involves
keeping an account of direct costs (labor, machine time, raw
materials) and indirect costs (overheads) - ANSWER-Job Costing,
Job Costing
A process is a sequence or independent & linked procedures
which ___________ to convert inputs into outputs. These outputs
then serve as inputs for the next stage until a known goal or end
result is reached - ANSWER-consume resources
A _____ is a good, idea, method, information, object, service, etc,
that is the end result of a process & serves as a need or want
satisfierProduct - ANSWER-Product
Product manufactured along with a different product, in a process
in which both are required in the production of another product
are considered _____ - ANSWER-Co-products
AACE CCT PRIMER EXAM LATEST 2026-2027 ACTUAL EXAM WITH
COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS (100%
VERIFIED ANSWERS) |ALREADY GRADED A+| ||PROFESSOR
VERIFIED|| ||BRANDNEW!!!||
The theory of needs is another approach to motivation that states
people who value the need for _______ are often those people
who are the leaders in the areas of ____ and _____ growth. -
ANSWER-achievment, creativity, economic
The fear of failure approach can be a strong motivator in
situations when the _________ for failure
are especially distasteful or _______. However, it should be
employed only in ______ circumstances, such as if a project is
headed for crisis, and immediate action is required - ANSWER-
consequences, catastrophic, unusual
The sum of the practices and processes that an enterprise uses
to manage the total life cycle cost investment in its portfolio of
strategic assets is called _________ - ANSWER-Total Cost
Management
______ is the application of scientific principles and techniques to
problems of :
,2|Page
- estimation
- cost control
- business planning & management science
- profitability analysis
- project management
- planning & scheduling - ANSWER-Cost Engineering
_______ Is the value of an activity or asset. Generally, this value
is determined by the cost of the resources that are expended to
complete the activity or produce the asset. An example would be
the facilities needed to produce an activity or asset, which would
include the tooling, electricity, taxes, and maintenance, etc.,
necessary to keep the facility available for use. Other costs might
be office supplies, communication costs, travel costs, and security
costs - ANSWER-Cost
Any consumable, except time, required to accomplish an activity
are considered _______. From a total cost and asset
management perspective, _______ may include any real or
potential investment in strategic assets including time, monetary,
human, and physical. - ANSWER-Resources, Resources
,3|Page
A resource becomes a cost when it is ______ or consumed in an
_____or project - ANSWER-invested, project
Material, labor, and "other" are categories of _________. -
ANSWER-Resources
The product lifecycle is the complete history of a product through
its ______, definition, production, operation, and obsolescence
/______ phases. - ANSWER-concept, disposal
The distinction between product life cycle and project life cycle is
that the latter does not include the ______ and ______. -
ANSWER-operation, disposal
___________ is the systematic numeric method of classifying
various categories of costs for accounting purposes - ANSWER-
Code of Accounts
, 4|Page
______ is used used in situations where each job is different and
is performed to the customer's specifications. ______ involves
keeping an account of direct costs (labor, machine time, raw
materials) and indirect costs (overheads) - ANSWER-Job Costing,
Job Costing
A process is a sequence or independent & linked procedures
which ___________ to convert inputs into outputs. These outputs
then serve as inputs for the next stage until a known goal or end
result is reached - ANSWER-consume resources
A _____ is a good, idea, method, information, object, service, etc,
that is the end result of a process & serves as a need or want
satisfierProduct - ANSWER-Product
Product manufactured along with a different product, in a process
in which both are required in the production of another product
are considered _____ - ANSWER-Co-products
