CCE-CCC Online Practice Questions and Answers

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

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

Any combination of unique letters, numbers, or blanks, which describes and identifies any activity or task shown on the schedule, is:

A. Activity ID

B. WBS Code

C. Resource

D. Account number

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 referred to as:

A. Costing

B. Cost-price analysis

C. Bid shopping

D. Negotiating a best and final offer

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.

Select the statement that best describes the meaning of the +/-notations associated with an estimate. The actual cost is expected:

A. To be exactly the percentages stated

B. To fall within the percentage range stated

C. To be higher or lower that the percentages stated

D. To be outside the percentages stated

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 Rensis1 4 model system, the exploitative-authoritative management style is one in which:

A. Management makes most decisions and passes them down

B. Informal organizations generally support the goals of the formal organization

C. Management issues orders, but employees have some freedom to comment

D. Management has a lot of confidence in the employees

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.

Profits that could not be formally recognized during a specific financial accounting period because the goods and services did not satisfy all the customer's requirements are:

A. Marginal profits

B. Lost profits

C. Incurred profits

D. Postponed profits

The following question requires your selection of CCC/CCE Scenario 28 (3.7.50.1.7) from the right side of your split screen, using the drop down menu, to reference during your response/choice of responses.

An unbalanced bid methodology can best be used by:

A. Engineer/contractor working for the owner (Plan B)

B. Subcontractor working for contractor (Plan A or B)

C. Contractor working directly for engineer (plan A or B)

D. Engineer working for the owner (Plan A)

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.

If $50 was invested at 6.0% on January 1, year 1, what would be the value of year-end withdrawals made in equal amounts each year for 10 years and leaving nothing in the fund after the tenth withdrawal?

A. $6.80

B. $3.10

C. $5.35

D. $2.22

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. $25,940

B. $29,450

C. $21,345

D. $16,180