AACE International AACE International Certifications AACE-PSP Questions & Answers

• Question 61:

  If drafting of the product manual overruns its planned duration by 5 days, how many days may the manufacturing be delayed without affecting release of the product?

  

  A. 15 days.

  B. 10 days.

  C. 0 days.

  D. 5 days.

  Correct Answer: C

• Question 62:

  Which of the following is NOT required when initially planning a project?

  A. Resource Identification and leveling.

  B. The duration of each task.

  C. A schedule that identifies tasks required on a project.

  D. Logical relationships between the tasks.

  Correct Answer: B

• Question 63:

  At the end of month one, did the delay to the parking structure foundation delay the project?

  A. NO.

  B. Yes, by 4 calendar days.

  C. Yes, by 14 calendar days.

  D. Yes, by 9 calendar days.

  Correct Answer: B

• Question 64:

  Budgeted cost of work scheduled is _______________________.

  A. The value of the completed work expressed in terms of the budget assigned to that work

  B. The total authorized budget for accomplishing the project scope

  C. The expected total cost of an activity, group of activities or the project

  D. The sum of all budgets for work scheduled to be accomplished within a given time period

  Correct Answer: C

• Question 65:

  Using the "normal" schedule, theoretically construct a hammock for activities 6001-6003. What is the duration of the hammock?

  A. 407 days

  B. 362 days

  C. 255 days

  D. 267 days

  Correct Answer: A

• Question 66:

  You are retained by a contractor who asks you to perform a simple as-planned versus as- built analysis (APAB) of a large hydro-electric dam project that took more than five years to complete. Your analysis will form the basis of a change order that requests a time extension. You suggest using a different methodology for quantifying the delay. Which of the following reasons for recommending a different analysis does NOT apply to a simple APAB analysis?

  A. Not suitable for complicated projects with multiple planned critical paths.

  B. Accuracy is increased by inserting delaying events into the as-planned schedule.

  C. Not suitable for projects with long durations.

  D. Less accurate as the analysis advances through the project.

  Correct Answer: B

• Question 67:

  During proofing of the product manual, a problem was discovered requiring 15 days additional time to effect a correction. How can the date of availability be maintained?

  

  A. Delay product release by 5 days.

  B. Expedite packaging by 5 days.

  C. Expedite printing by 5 days.

  D. Delay manufacturing by 5 days.

  Correct Answer: A

• Question 68:

  How much Total Float does drafting the product manual have?

  

  A. 15 workdays.

  B. 0 workdays.

  C. 10 workdays.

  D. 5 workdays.

  Correct Answer: C

• Question 69:

  Theoretically construct a summary activity for activities 2001 through 2004. Using the "normal" schedule, what is the cost of the hammock?

  A. $271,000

  B. $299,000

  C. $139,000

  D. $289,000

  Correct Answer: D

• Question 70:

  If a detailed estimate is NOT available to assist in the formulation of activity durations but unit quantities have been identified, what information can be utilized to estimate work package/activity durations?

  A. The Eichleay formula

  B. Historical production rates

  C. Time impact analysis

  D. Black-Scholes model

  Correct Answer: B