How to Pass CCP Exam?

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Certified Cost Professional Question No 19

Question No 19:

What do you call a person authorized to represent another (the principal) in some capacity? He/she can only act within this capacity or "scope of authority" to bind the principal.

A. Engineer
B. Alternate
C. Project Manager
D. Agent

Answer: D

Certified Cost Professional Question No 18

Question No 18:

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

Certified Cost Professional Question No 17

Question No 17:

A bond that guarantees the bidder will enter into a contract on the basis of his/her bid is referred to as?

A. Surety bond
B. Performance bond
C. Bid bond
D. Liability bond

Answer: C

Certified Cost Professional Question No 16

Question No 16:

A bond that guarantees the bidder will enter into a contract on the basis of his/her bid is
referred to as:

A. Surety bond
B. Performance bond
C. Bid bond
D. Liability bond

Answer: C

Certified Cost Professional Question No 15

Question No 15:

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 indirect, 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

Cate Blanchett promotes Oscar-nominated 'Carol' in Japan

Oscar winner Cate Blanchett rebound made his last film, the 1950 lesbian romance "Carol" in Tokyo.

The film, which was a critical success since its premiere at the Cannes Film Festival last May, is six Academy Awards, including Best Actress for Blanchett and best supporting actress for her co-star Rooney Mara.

"It's an extraordinary honor. Many, many people were nominated film, which is a wonderful thing. It's always wonderful when peers recognize their work," Blanchett the screening of the film in Tokyo told a press conference Friday night before .

Based on Patricia Highsmith 1952 novel "The price of salt," stars "Carol" Blanchett as the title character - a married woman, but parting with a child - while Mara plays Teresa, a department store committed infatuated Shy Carol Blanchett.

In the film, Carol and Teresa are drawn irresistibly together, but women have to hide their affection hidden wave of subtle gestures, keeping his private love in a world dominated by conservative men.

The film contains a sex scene between the two characters, which said Friday it had approached Blachett as you would with a male co-star, except "the bits are different."

"The fact that women are the same sex does not matter ... becomes an epic love story as" Romeo and Juliet "and that is the way we think about it. It is love, love is love no matter who is in the middle, "she said.

Also at the event it was the Japanese actress Shinobu Terajima, who asked this difficult role Blanchett would like to have in the next.

"Probably the story of the life of a sumo wrestler," Blanchett said.

"You have to gain weight for it," Terajima said.

"Yes. A sumo wrestler anorexic," Blanchett laughed.

"Carol," will be released in Japan through film Phantom February 11

Certified Cost Professional Question No 14

Question No 14:

 Which of the following best describes the concept of total cost management:

A. A method of quantifying construction damages where the total job costs are subtracted from the original bid or estimate to determine the total cost amount for a claim
B. The practices and processes utilized to manage the total life cycle cost investment in a portfolio of strategic assets
C. A job cost system for ensuring all aspects of a particular manufacturing process are accumulated completely
D. An integrating process that maps the fields of practice of cost engineering without linking it to project management, resource management, or accounting

Answer: D

Certified Cost Professional Question No 13

Question No 13:

Budgeted cost of work scheduled is all of the following except:

A. Total costs incurred in accomplishing work in a given-time period
B. Baseline for performance measurement
C. Sum of the budgets for work scheduled
D. Includes portion of the budget for level-of-effort work

Answer: D

Certified Cost Professional Question No 12

Question No 12:

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 year 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