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

Certified Cost Professional Question No 11

Question No 11:

Listening to what is being said by all members of a group or audience and then
summarizing or interpreting is called______________.

A. Directive listening
B. Non-listening
C. Visual listening
D. Facilitative listening

Answer: A   

Certified Cost Professional Question No 10

Question No 10:

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.
In an exit interview, an employee comments that the reason he is leaving the organization
is lack of teamwork and cohesion among his co-workers. Which need of Maslow's
hierarchy of needs is unmet?

A. Belongingness needs
B. Primary needs
C. Self-actualization needs
D. Esteem needs

Answer: A

Certified Cost Professional Question No 9

Question No 9:

The process of stating goals and determining the most effective way of reaching them is
the definition for:

A. Implementing
B. Mission Statement
C. Managing
D. Planning

Answer: D

Certified Cost Professional Question No 8

Question No 8:

A concrete slab measuring 10 feet wide by 13.5 feet long by 6 inches deep is to be
installed. How many cubic yards of concrete will be required?

A. 3.0 cubic yards
B. 2.0 cubic yards
C. 3.5 cubic yards
D. 2.5 cubic yards

Answer: D