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Question No 1: 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

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Question No 2: 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 q uestion 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 https://www.exams4sure.com/AACE-International/CCP-practice-exam-dumps.html

Question No 3: What do you call a person authorized to represent another (the principal) in some capacity? H e/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

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Question No 4: A concrete slab measuring 10 feet wide by 13.5 feet long by 6 inches deep is to be installed. H ow 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

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Question No 5: 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 ncome generated would be $22,500 and annual expenditures were to be $12,000. Answer the question using a strai ght line depreciation and a 10% interest rate. If $100,000 is needed to purchase a piece of equipm ent 3 years from now, how much money needs to be invested today assuming a 10% rate of retur n (rounded to the nearest thousand)?

A. $78,000 B. B. $70,000 C. C. $75,000 D. D. $82,000

Answer: C

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Question No 6: The process of stating goals and determining the most effective way of reaching them is the de finition for: A. Implementing B. Mission Statement C. Managing D. Planning

Answer: D

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Question No 7: The goal of listening is to: A. Analyze what the speaker is saying B. Find out what is going on C. Have time to formulate your thoughts on the subject D. Improve communication

Answer: D

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Question No 8: 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 constr uction 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 we eks, which is this week. According to your calculations, the project has a schedule performance index of 0.80. What would you a dvise the management about the scheduled completion date?

A. B. C. D.

Project will be completed in 20 more weeks Project will be completed this week - on schedule Project will be completed in 4 more weeks Project will be completed in 12.8 more weeks

Answer: C

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Question No 9: A major theme park is expanding the existing facility over a five-year period. The design phase will be complete d one year after the contract is awarded. Major engineering drawings will be finalized two years after the desig n contract is awarded and construction will begin three years after the award of the design contract. New, uniq ue 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. Why is a +/- n otation necessary when developing an estimate?

A. Contingency cushion B. It makes up for the lack of time to develop a real estimate C. It is a government requirement D. There are unknowns that affect the final cost of a project

Answer: D

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Question No 10: An effort by a prime contractor to reduce the price quoted by a vendor, by providing the bid price to other vendors in an attempt to get the other vendors to underbid the original price quoted is re ferred to as: A. Costing B. Cost-price analysis C. Bid shopping D. Negotiating a best and final offer

Answer: C

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