THE CCP EXAM

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ABOUT CCP EXAM

CCP Exam is a product of 3FOLD Education Centre dedicated for online cost professional / cost
engineering (CCP) exam preparation training. Preparing for the Certified Cost Professional exam
is challenging, at the same time a rewarding experience! We will help with the challenge, you
enjoy the reward! Prepare for the CCP Exam with our world class learning resources prepared by
renowned experts from the industry.

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CCP EXAM BASICS

In order to sit for the exam, you must first fill out an application and your application must be qualified by the CCP Committee. See
6 Steps to Certification and Application for more information about the application process. The examination includes 200 multiple
choice, true/false, and fill-in-the-blank questions, equally divided among the ten topics listed in the CCP Practice Exam. Two essay
questions, from a choice of seven topics, must also be answered. In addition, applicants can earn an extra five points by
completing a third essay question, which will be reviewed only if the exam score is borderline.
The exam does not test specific expert knowledge within any particular segment of the industry. Passing the exam reflects an
advanced knowledge of many different aspects of the culinary field. That said, your chances of success will increase if you have a
working knowledge of the major ethnic cuisines, a thorough foundation in techniques, and a familiarity with sanitation
requirements and basic nutrition. To assure confidentiality and objectivity, examinations are identified to those scoring by number
rather than by the candidate's name. A passing score on the exam is 70%. Over 90% of those taking the exam pass it on the first
try.

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PREPPING FOR THE EXAM

Before attending a review session or sitting for the exam, we recommend that you study both the:
CCP Practice Exam and
CCP Reading List.

Many of the exam questions are drawn from the sources in the reading list. A certification review
session is offered during the Annual Conference, typically held in April. Review sessions can also be
scheduled at other times and in other locales by contacting the CCP Committee Chair. If you need
additional assistance with your study program, you can arrange mentoring support through our CCP
Study Hall Program. Again, contact the Committee Chair for more information.
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PASS THE CCP EXAM THE FIRST TIME

Overall, the AACE International (CCP Practice Exam) designation is a daunting challenge, and
the odds of success from start to finish are slim; less than 20% of those who begin this challenge
reach the end. However, as one in five candidates have demonstrated, it is possible.
There is no secret code to navigating through the CCP Practice Exam program and passing the
test, but an organized, disciplined approach will help you pass each level of the program and
ultimately achieve your goal. Find out what you'll need to make the cut and pass each level on
your first try.
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CCP AACE INTERNATIONAL STUDY

GUIDE

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AACE INTERNATIONAL
Exam CCP
Certified Cost Professional (CCP) Exam
Version: Demo

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AACE INTERNATIONAL CCP PRACTICE TEST

Question No : 1
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. $6.80
B. $3.10
C. $5.35
D. $2.22

Answer: A
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AACE INTERNATIONAL CCP PRACTICE TEST

Question No : 2
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
Answer: B

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AACE INTERNATIONAL CCP PRACTICE TEST

Question No : 3
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 methods a used for creating critical path schedules:
A. Precedence diagram method
B. Precedence and arrow diagram methods only
C. Gantt chart (bar chart) method
D. Arrow diagram method
Answer: B
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AACE INTERNATIONAL CCP PRACTICE TEST

Question No : 4
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 longterm nonproduction accounts (such as overhead accounts)?
A. Ratio/level of effort
B. Start/finish
C. Units completed
D. Incremental milestone
Answer: D
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AACE INTERNATIONAL CCP PRACTICE TEST

Question No : 5
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.
Which statement best describes the type of information available for a design phase estimate?
A. Home office detail, specific vendor quotes, preliminary quantities with labor and material factors applied
B. Square footage of buildings, factored indirects, types of rides and exhibits identified, utility requirements, conceptual layouts
C. Detailed construction drawings, quantity takeoffs, detailed labor hours and material costs applied, quotes from all major
subcontractors
D. Utility requirements, detailed building plans and (- specifications, types of rides and exhibits identified, all vendor quotes or
estimates received from subcontractors

Answer: D
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AACE INTERNATIONAL CCP PRACTICE TEST

Question No : 6
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 method to estimate the cost of the new rides:
A. Break down the technology into components
B. Call vendors for quotes
C. Use historical data from past projects
D. Adjust known data from existing rides

Answer: D
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AACE INTERNATIONAL CCP PRACTICE TEST

Question No : 7
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
Answer: B

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AACE INTERNATIONAL CCP PRACTICE TEST

Question No : 8

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AACE INTERNATIONAL CCP PRACTICE TEST

Question No : 8
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%

Answer: D

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AACE INTERNATIONAL CCP PRACTICE TEST

Question No : 9
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?
A. Continuous compounding rate
B. Simple interest rate
C. Minimum attractive rate of return
D. Nominal interest rate
Answer: D

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AACE INTERNATIONAL CCP PRACTICE TEST

Question No : 10
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?
A. 10.4%
B. 9.1%
C. 8.3%
D. 9.9%
Answer: B

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PASS4SURE CCP EXAM FEATURES

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