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To be eligible to take the CCP Certification Exam, candidates must meet specific educational and professional requirements. They must possess at least a bachelor's degree in engineering, construction management, business, or a related discipline, and have a minimum of four years of professional experience in cost engineering, project management, or a related field. Alternatively, candidates with a high school diploma or equivalent may qualify with eight years of experience in cost engineering or a related field.

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AACE International CCP certification exam is open to experienced professionals who meet the eligibility requirements. The eligibility criteria for the CCP certification includes a minimum of five years of professional experience, a bachelor’s degree or higher in a related field, and completion of AACE’s Cost Engineering Body of Knowledge (CEBoK) education program. Candidates who meet the eligibility requirements must pass the CCP Certification Exam to earn the title of a Certified Cost Professional.

AACE International Certified Cost Professional (CCP) Exam Sample Questions (Q105-Q110):

NEW QUESTION # 105
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. Alternate
B. Agent
C. Engineer
D. Project Manager

Answer: B

Explanation:
An agent is a person who is legally authorized to represent another person, known as the principal, in business transactions or other matters. The agent can act on behalf of the principal and make decisions that bind the principal to certain actions or contracts. However, the agent's authority is limited to the "scope of authority" granted by the principal. This means that the agent can only perform actions that fall within the powers explicitly or implicitly given to them.
For example, in a construction project, an agent might be authorized to negotiate contracts with suppliers or contractors on behalf of the project owner. Still, they may not have the authority to make final decisions regarding project financing unless explicitly granted by the principal. The concept of an agent is fundamental in various fields, including cost estimating and project management, where clear delegation of authority ensures that decisions are made effectively and responsibly.
This role is crucial in maintaining a structured approach to decision-making, particularly in cost management, where the agent's decisions can directly impact the financial outcomes of a project. Miscommunication or overstepping the agent's authority could lead to financial discrepancies or legal disputes, making the definition and adherence to the scope of authority essential for both cost control and legal compliance.

NEW QUESTION # 106
You are analyzing historic unit costs for 18'' Class 5 reinforced concrete pipe is a database. The unit costs include all costs-material, labor, equipment, and other, for the excavation, bedding, pipe and backfill. Refer to the following table:

What is the median unit cost?

A. $48.35
B. $46.59
C. $40.00
D. $48.22

Answer: C

Explanation:
The median cost is found by ordering the unit costs and selecting the middle value. The ordered costs are:
$26.78, $34.50, $37.30, $40.00, $46.59, $55.00, $55.00, $65.00, $75.00
Since there are nine data points, the fifth value in this list is the median:
C . $40.00 is the median unit cost.

NEW QUESTION # 107
Which of the following are used for profitability analysis in a construction company?

A. Opportunity costs
B. Sum of years digits
C. Booked costs
D. Return on Investment (ROI) and Rate of Return (ROR)

Answer: D

Explanation:
In a construction company, profitability analysis typically involves calculating the Return on Investment (ROI) and Rate of Return (ROR). ROI measures the profitability of an investment by comparing the gain from the investment to its cost, while ROR calculates the percentage return on each dollar invested. These metrics are critical in determining the financial performance and efficiency of investments in the construction industry.

NEW QUESTION # 108
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. Bid bond
B. Liability insurance
C. Surety bond
D. Performance bond

Answer: D

NEW QUESTION # 109
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.
Present worth calculations is represented by which of the following equations?

A. Option D
B. Option B
C. Option C
D. Option A

Answer: A

NEW QUESTION # 110
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