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AACE International CCP Exam
Certified Cost Professional (CCP) (Page 3 )

Updated On: 11-Jan-2026
Page 3 of 24
PDF with 189 Questions

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.
Profits that could not be formally recognized during a specific financial accounting period because the goods and services did not satisfy all the customer's requirements are:

  1. Marginal profits
  2. Lost profits
  3. Incurred profits
  4. Postponed profits

Answer(s): D



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 project scheduler left the company and has left unfinished work. You have been hired as the new project scheduler and must update the existing schedule. What will be your first task?

  1. Recalculate the early finish for each activity
  2. Recalculate the early start for each activity
  3. Update the remaining duration for each activity
  4. Recalculate the critical path

Answer(s): D



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.
You are reporting on a roadway project, which was estimated to be 10 miles of road. It was scheduled to be completed in 16 weeks, which is this week. According to your calculations, the project has a schedule performance index of 0.80. What would you advise the management about the scheduled completion date?

  1. Project will be completed in 20 more weeks
  2. Project will be completed this week - on schedule
  3. Project will be completed in 4 more weeks
  4. Project will be completed in 12.8 more weeks

Answer(s): C



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 is NOT an advantage of the critical path method:

  1. The ability to determine cost overruns of critical path activities
  2. The ability to identify activities that cannot have their schedules slip if the desired project end date is to be achieved
  3. Reveals activities that additional resources need to be dedicated toward
  4. The ability to show slippage in the progress of key activities

Answer(s): A



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.
Resource planning must take all of the following into account except:

  1. Types of materials, equipment and labor skills required to complete the project
  2. Cash flow (expenditures) limitations for completing work on the project
  3. Time available to complete the project
  4. Earned value techniques established for the project

Answer(s): D



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