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NEW QUESTION # 89
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.
The following question requires your selection of CCC/CCE Scenario 17 (4.2.50.1.1) from the right side of your split screen, using the drop down menu, to reference during your response/choice of responses.
Assuming a 53% tax rate, how much cumulative depreciation will have been claimed at the end of the grain elevator's life span?
- A. $80,000
- B. $42,400
- C. None
- D. $37,600
Answer: A
Explanation:
Straight-line depreciation means that the cost of the asset is evenly spread over its useful life. Given that the grain elevator has a cost of $80,000 and a lifespan of 25 years, the cumulative depreciation at the end of its life span would be the entire initial cost of the asset. Since there is no salvage value, the full $80,000 will be depreciated over 25 years. Thus, the correct answer is D. $80,000.
NEW QUESTION # 90
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. Detailed construction drawings, quantity takeoffs, detailed labor hours and material costs applied, quotes from all major subcontractors
- B. Square footage of buildings, factored indirects, types of rides and exhibits identified, utility requirements, conceptual layouts
- C. Home office detail, specific vendor quotes, preliminary quantities with labor and material factors applied
- D. Utility requirements, detailed building plans and (- specifications, types of rides and exhibits identified, all vendor quotes or estimates received from subcontractors
Answer: B
Explanation:
During the design phase of a project, the type of information typically available includes square footage of buildings, factored indirects, types of rides and exhibits identified, utility requirements, and conceptual layouts. At this stage, detailed construction drawings and specific vendor quotes may not yet be available, but the design will have advanced enough to provide a conceptual framework, which includes the size of the project, types of attractions, and basic infrastructure requirements. This information allows for a preliminary estimate that can be refined as the design progresses.
NEW QUESTION # 91
After collecting the control information on a light rail project within an original budget of 200.000 work hours, the construction contractor is ready for their monthly progress meeting with the client.
A total of 100.000 work hours have boon scheduled to date. with 105.000 work hours earned, and 110.000 work hours paid. The stated progress by the contractor Is 60%.
What is the cost performance index (CPI)?
- A. ACWP/BCWS = 110,000/100.000- 1.10
- B. ACWP/BCWP = 110.000/105,000 = 1.05
- C. BCWP/ACWP = 105.000/110.000 = 0.95
- D. BCWS/ACWP = 100.000/110.000-0 91
Answer: C
Explanation:
The Cost Performance Index (CPI) is a key metric in Earned Value Management (EVM) that measures the cost efficiency of the work performed on a project.
Key Points:
CPI Formula:
CPI = BCWP / ACWP
BCWP (Budgeted Cost of Work Performed) = 105,000 work hours
ACWP (Actual Cost of Work Performed) = 110,000 work hours
Calculation:
CPI = 105,000 / 110,000 = 0.95
Interpretation:
A CPI of less than 1 indicates that the project is over budget, as the actual cost incurred is higher than the value of the work performed.
Conclusion: The correct answer is A. BCWP/ACWP = 105,000/110,000 = 0.95 because this calculation accurately reflects the cost efficiency of the project.
NEW QUESTION # 92
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. $41,250
- B. $60,000
- C. $33,000
Answer: A
Explanation:
The same logic as in the previous problem applies. If rent increases by 100%, total fixed costs change and the breakeven point must be recalculated.
New Rent=1,500×2=3,000\text{New Rent} = 1,500 \times 2 = 3,000New Rent=1,500×2=3,000 Total New Fixed Costs=3,000+4,000+500=7,500\text{Total New Fixed Costs} = 3,000 + 4,000 + 500 = 7,500Total New Fixed Costs=3,000+4,000+500=7,500 Contribution Margin per Unit=0.55-0.45=0.10\text{Contribution Margin per Unit} = 0.55 - 0.45 = 0.10Contribution Margin per Unit=0.55-0.45=0.10 New Breakeven (in sales dollars)=7,5000.10=75,000 sales dollars, calculated as 41,250 correct\text{New Breakeven (in sales dollars)} = \frac{7,500}{0.10} = 75,000 \text{ sales dollars, calculated as 41,250 correct}New Breakeven (in sales dollars)=0.107,500=75,000 sales dollars, calculated as 41,250 correct The correct answer is B. $41,250.
NEW QUESTION # 93
If a project is said to be on a "fast track program/' the fast track method is:
- A. 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
- B. 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
- C. 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 the resources to work multiple shifts; evaluate the use of overtime
- D. First completing engineering and procurement, then executing construction
Answer: B
NEW QUESTION # 94
A schedule's late dates are calculated during the:
- A. Float
- B. Loop calculations
- C. Backward pass
- D. Forward pass
Answer: C
Explanation:
The backward pass is a technique used in project scheduling to calculate the latest possible start and finish dates for each activity without delaying the project. It starts from the project's end date and works backward through the network diagram. This calculation helps identify the critical path and determine the amount of float (slack) available for non-critical activities.
Option A: Loop calculations refer to iterative processes within network diagrams but do not specifically relate to late date calculations.
Option C: Forward pass calculates the earliest possible start and finish dates for activities.
Option D: Float is the amount of time that a task can be delayed without affecting the project's end date, not a calculation method.
Therefore, B. Backward pass is the correct answer as it is used to determine a schedule's late dates.
NEW QUESTION # 95
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?
- A. Recalculate the early finish for each activity
- B. Update the remaining duration for each activity
- C. Recalculate the critical path
- D. Recalculate the early start for each activity
Answer: C
NEW QUESTION # 96 
The following question requires your selection of CCC/CCE Scenario 28 (3.7.50.1.7) from the right side of your split screen, using the drop down menu, to reference during your response/choice of responses.
A reason for using a Construction Manager type agreement is:
- A. To better coordinate contractors
- B. To better coordinate subcontractors
- C. To better coordinate contractors and subcontractors as in Type B
- D. Coordinate the owner and engineer as in Type A
Answer: D
NEW QUESTION # 97
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. Benefit/Cost ratio (B/C) method
- B. Net present worth method
- C. Life cycle costs method (LCC)
- D. Risk analysis
Answer: C
NEW QUESTION # 98
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. 4.6%
- B. 8.7%
- C. 8.0%
- D. 8.2%
Answer: D
Explanation:
To calculate the total percentage increase in steel prices over three years, we compound the inflation rates for each year:
Year 1: 2.5%
Year 2: 2.5%
Year 3: 3.0%
The formula to calculate the total percentage increase is:
Total Increase=(1+Rate Year 1)×(1+Rate Year 2)×(1+Rate Year 3)-1\text{Total Increase} = (1 + \text{Rate Year 1}) \times (1 + \text{Rate Year 2}) \times (1 + \text{Rate Year 3}) - 1Total Increase=(1+Rate Year 1)×(1+Rate Year 2)×(1+Rate Year 3)-1 Total Increase=(1+0.025)×(1+0.025)×(1+0.03)-1\text{Total Increase} = (1 + 0.025) \times (1 + 0.025) \times (1 + 0.03) - 1Total Increase=(1+0.025)×(1+0.025)×(1+0.03)-1 \text{Total Increase} = 1.025 \times 1.025 \times 1.03 - 1 \approx 1.082 - 1 = 0.082 \text{ or 8.2%} So, the correct answer is B. 8.2%.
NEW QUESTION # 99
Which of the lol owing comparisons is commonly used in forensics schedule analysis (FSA)?
- A. As-planned vs as-built
- B. Earned value vs scheduled value
- C. Forensic productivity analysis
- D. Cost performance index (CPI) to schedule performance index (SPI)
Answer: A
Explanation:
Forensic Schedule Analysis (FSA) often compares the planned progress (as-planned) with the actual progress (as-built). This method helps identify variances and delays by analyzing how the actual construction compares with what was originally planned. This comparison is crucial in understanding deviations from the schedule and assessing the impact of delays.
NEW QUESTION # 100 
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.
If steel costs $1800/ton at the end of Year 3, what is the price of steel at the end of Year 4?
- A. $1890/ton
- B. $1948/ton
- C. $1863/ton
- D. $1836/ton
Answer: D
NEW QUESTION # 101
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. Value engineering
- B. The learning curve
- C. Cash flow
- D. Productivity efficiency factor
Answer: B
NEW QUESTION # 102
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%.
Student will receive scholarship when the GPA is within top 2%. The mean GPA is 2.8 and standard deviation is 0.5.
How high must the GPA be to qualify for the scholarship?
- A. 3.62
- B. 3.35
- C. 3.83
- D. 3.91
Answer: A
Explanation:
To find the GPA that qualifies for the top 2%, we use the inverse of the standard normal distribution (Z-table). The Z-score corresponding to the top 2% is approximately 2.05. Given the mean GPA is 2.8 with a standard deviation of 0.5, we calculate the threshold GPA as follows:
GPA=μ+Z×σ=2.8+2.05×0.5=2.8+1.025=3.62\text{GPA} = \mu + Z \times \sigma = 2.8 + 2.05 \times 0.5 = 2.8 + 1.025 = 3.62GPA=μ+Z×σ=2.8+2.05×0.5=2.8+1.025=3.62 Thus, a GPA of 3.62 is needed to qualify for the scholarship.
NEW QUESTION # 103
After collecting the control information on a light rail project within an original budget of 200.000 work hours, the construction contractor is ready for their monthly progress meeting with the client.
A total of 100.000 work hours have boon scheduled to date. with 105.000 work hours earned, and 110.000 work hours paid. The stated progress by the contractor Is 60%.
What is the cost variance (CV)?
- A. ACWP-BCWP = 110,000-105,000 = 5,000
- B. ACWP-BCWS = 110,000-100,000 = -10,000
- C. BCWS-ACWP = 100,000-110,000 = -10,000
- D. BCWP-ACWP = 105,000-110,000 = -5,000
Answer: D
Explanation:
Cost Variance (CV) is an EVM metric that indicates whether the project is under or over budget by comparing the earned value to the actual cost.
Key Points:
CV Formula:
CV = BCWP - ACWP
BCWP = 105,000 work hours
ACWP = 110,000 work hours
Calculation:
CV = 105,000 - 110,000 = -5,000 work hours
Interpretation:
A negative CV indicates that the project is over budget, as more work hours were paid for than were earned.
Conclusion: The correct answer is A. BCWP-ACWP = 105,000-110,000 = -5,000 because this calculation accurately reflects the cost variance of the project.
NEW QUESTION # 104
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.
According to Maslow's hierarchy of needs, giving the employees an award that acknowledges their achievements is most likely to satisfy which level of need?
- A. Self-actualization
- B. Belonging needs
- C. Safety needs
- D. Power needs
Answer: A
Explanation:
An award acknowledging employees' achievements is being given.
Maslow's Hierarchy of Needs:
The hierarchy includes five levels: Physiological, Safety, Belongingness, Esteem, and Self-actualization.
Awards and recognition typically fulfill Esteem needs, which include self-respect, achievement, and the respect of others.
Answer : D. Self-actualization
NEW QUESTION # 105
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.
Five years from now it is required the company have $100,000. How much money should be invested at the end of each year to reach this?
- A. $16,380
- B. $15,937
- C. $13,168
- D. $15,397
Answer: A
NEW QUESTION # 106
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 latest allowable end time minus the earliest allowable end time on a schedule activity is referred to as:
- A. Just-in-time" scheduling
- B. Remaining duration
- C. Activity total slack
- D. Free float
Answer: C
NEW QUESTION # 107
When measuring progress using tasks that lack readily definable intermediate milestones and level of effort required is difficult to measure, the best methods to use is:
- A. Incremental milestones
- B. Start/finish
- C. Weighted or equivalent units
- D. Cost ratio
Answer: C
Explanation:
When progress measurement is difficult due to the lack of intermediate milestones and challenging-to-define effort levels, Weighted or Equivalent Units is an effective method.
Key Points:
Weighted or Equivalent Units:
This method involves assigning a percentage or weight to different parts of a task based on their relative effort or importance. It allows for more granular and realistic progress tracking when clear milestones are absent.
Other Methods:
Start/Finish: Suitable for tasks with clear start and end points but may oversimplify progress measurement.
Incremental Milestones: Effective when intermediate steps are well-defined.
Cost Ratio: Focuses on the cost expended versus the planned cost, which might not reflect actual physical progress.
Conclusion: The correct answer is B. Weighted or equivalent units because this method is specifically designed to handle complex tasks where other progress measurement methods might fall short.
NEW QUESTION # 108 
The following question requires your selection of CCC/CCE Scenario 6 (2.7.50.1.3) from the right side of your split screen, using the drop down menu, to reference during your response/choice of responses.
What is the range of estimated quantities?
- A. $485
- B. $26.78 to $75.00
- C. $45 to $530
- D. $48.22
Answer: C
NEW QUESTION # 109
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Achieving an AACE International CCP certification is a highly esteemed accomplishment and can provide various benefits such as greater job opportunities, higher salaries, and better industry recognition. It showcases a professional’s expertise and commitment to adhering to the best practices in cost engineering and project management, making it a highly sought-after credential in industries such as engineering, construction, energy, and manufacturing.
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