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AACE International Certified Cost Professional (CCP) Exam Sample Questions (Q39-Q44):

NEW QUESTION # 39
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 assume 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.
If $10,000 is invested now at 10% compounded annually, what will the investments be worth 10 years from now?

A. $16,180
B. $25,940
C. $29,450
D. $21,345

Answer: B

NEW QUESTION # 40
The purpose of a communication must be understood by ____________ if the message is to be clear to the

A. Management; workers
B. The receiver; the speaker
C. Workers; management
D. The speaker; the receiver

Answer: B

Explanation:
For effective communication, the purpose of a communication must be understood by the receiver for the message to be clear. Communication is a two-way process where the speaker conveys a message and the receiver interprets it. The clarity of the communication is determined by how well the receiver understands the intended message. Miscommunication often occurs when the receiver's interpretation does not match the speaker's intent, highlighting the importance of clear, concise, and well-structured communication in any context, especially in project management and team coordination.
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NEW QUESTION # 41
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. Surety bond
D. Bid bond

Answer: B

Explanation:
A Performance Bond is a type of surety bond issued by an insurance company or a bank to guarantee satisfactory completion of a project by a contractor. In connection with a contract, a performance bond secures the performance and fulfillment of all the undertakings, covenants, terms, conditions, and agreements contained in the contract. This ensures that if the contractor fails to complete the project as per the contract, the owner is compensated by the bond issuer for the financial losses incurred. This bond is crucial in construction and large projects to protect the client against the risk of contractor default.

NEW QUESTION # 42

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 relative frequency of unit costs amounting to $55.00/unit?

A. 338.5
B. $55.00
C. 22.22%
D. 0

Answer: C

NEW QUESTION # 43
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 start for each activity
B. Recalculate the early finish for each activity
C. Update the remaining duration for each activity
D. Recalculate the critical path

Answer: D

NEW QUESTION # 44
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