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Certified Cost Professional (CCP) Exam

Last Update 8 hours ago Total Questions : 189

The Certified Cost Professional (CCP) Exam content is now fully updated, with all current exam questions added 8 hours ago. Deciding to include CCP practice exam questions in your study plan goes far beyond basic test preparation.

You'll find that our CCP exam questions frequently feature detailed scenarios and practical problem-solving exercises that directly mirror industry challenges. Engaging with these CCP sample sets allows you to effectively manage your time and pace yourself, giving you the ability to finish any Certified Cost Professional (CCP) Exam practice test comfortably within the allotted time.

Question # 1

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

A.

Planning

B.

Forecasting

C.

Scheduling

D.

Modeling

Question # 2

Money is value. Having money when you need it is very important. Money can also be valuable when used wisely by knowing when to spend and when to conserve Also, planning now for future expenses can be a plus to the company rather than a debit.

There are several ways to capitalize money and spending. Basically there is the single payment method that has a compound amount factor and a present worth factor. There is the uniform annual series that has a sinking fund factor, capital recovery factor and also the compound amount factor and present worth factor. At this point, we can assure money is worth 10%.

The following question requires your selection of CCC/CCE Scenario 7 (4.8.50.1.1) from the right side of your split screen, using the drop down menu, to reference during your response/choice of responses.

If you are scheduled for a $100,000 payment at the end of each year for the next five years, what is the equivalent amount if you were to make a lump sum payment now?

A.

$162,370

B.

$679,397

C.

$379,100

D.

$500,000

Question # 3

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%.

Which of the following statements is the more correct guide for the Project Cost engineer as the compiles the data information?

A.

Only quantitative data can have means, medians and modes, as these require number rankings.

B.

There is no difference between quantitative data, qualitative data and histogram data except in the manner in which it is presented.

C.

Some graphic methods tor describing qualitative data are range variance and

Question # 4

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

Question # 5

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%.

The value of the truck at the end of year five (5) would be:

A.

$0

B.

$14,265

C.

$25,000

D.

$23,366

Question # 6

As the leas cost engineer for the XYZ Services Company, you have been requested to provide pertinent for an equipment rental decision. The unit price of the food stuffs varies, but an average unit selling process has been determined to be $0.50 cents and the average unit acquisition cost is $0.40 cents.

The following revenue and expense relationships are predicted:

If XYZ considers S550 per month the minimum acceptable net income, the number of units that will have to be sold is:

A.

65,500 units

B.

50,000 units

C.

40,000 units

D.

60,000 units

Question # 7

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%

Question # 8

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

Question # 9

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 question requires your selection of CCC/CCE Scenario 26(2.5.50.1.2) from the right side of your split screen, using the drop down menu, to reference during your response/choice of responses.

Select the statement that best describes the meaning of the +/-notations associated with an estimate. The actual cost is expected:

A.

To be exactly the percentages stated

B.

To fall within the percentage range stated

C.

To be higher or lower that the percentages stated

D.

To be outside the percentages stated

Question # 10

SCENARIO: A can manufacturing company requested you to provide data for their decision making The unit prices of the can varies but an average selling price of $0.55 cents and average cost of S45 cents is estimated.

The monthly fixed costs are:

Rant-$1,500

Wages - $4.000

Miscellaneous fixed expenses - $500

If the rent increases by 100% and the unit sales/other costs remain unchanged, the new break even amount is?

A.

$60,000

B.

$41,250

C.

$33,000

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