AACE International AACE Certification CCP Questions & Answers

• Question 51:

  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.

  Cost engineers who feel completely satisfied and fulfilled by their work as part of a project team are said to have reached the ______________ stage of Maslow's hierarchy of needs.

  A. Need satisfaction

  B. Belonging needs

  C. Self-actualizations

  D. Esteem

  Correct Answer: C

• Question 52:

  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.

  After an individual's safety needs are met, what needs would the individual be motivated to fulfill next in Maslow's hierarchy of needs?

  A. Belonging needs

  B. Self-actualization

  C. Knowledge

  D. Pay and compensation

  Correct Answer: A

• Question 53:

  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.

  According to Maslow's hierarchy of needs, giving the employees an award that acknowledges their achievements is most likely to satisfy which level of need?

  A. Belonging needs

  B. Safety needs

  C. Power needs

  D. Self-actualization

  Correct Answer: D

• Question 54:

  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. Which statement best describes the type of information available for a design phase estimate?

  A. Home office detail, specific vendor quotes, preliminary quantities with labor and material factors applied

  B. Square footage of buildings, factored indirects, types of rides and exhibits identified, utility requirements, conceptual layouts

  C. Detailed construction drawings, quantity takeoffs, detailed labor hours and material costs applied, quotes from all major subcontractors

  D. Utility requirements, detailed building plans and (- specifications, types of rides and exhibits identified, all vendor quotes or estimates received from subcontractors

  Correct Answer: D

• Question 55:

  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

  Correct Answer: B

• Question 56:

  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.

  Why is a +/- notation 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

  Correct Answer: D

• Question 57:

  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 method to estimate the cost of the new rides:

  A. Break down the technology into components

  B. Call vendors for quotes

  C. Use historical data from past projects

  D. Adjust known data from existing rides

  Correct Answer: D

• Question 58:

  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.

  What information is needed to develop a Class 2 definitive estimate?

  A. Soil data, detailed construction drawings, quantity takeoffs, minimum contingency detailed indirect costs, detailed engineering estimates

  B. Preliminary quantities with labor, material, and factors applied, square footage of facilities, minimum contingency detailed indirect costs

  C. Square footage of facilities, factored indirects and home office costs

  D. Vendor quotes, home office detailed estimate, preliminary quantities with labor, material, and factors applied

  Correct Answer: A

• Question 59:

  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.

  What class of estimate is used for the preliminary design phase of a project?

  A. Class 5 - order of magnitude estimate with +50% / -30% accuracy

  B. Class 1 - order of magnitude with +30% / -30% accuracy

  C. Class 4 - budget estimate with +30% / -15% accuracy

  D. Class 2 - definitive estimate with +15%/-5% accuracy

  Correct Answer: A

• Question 60:

  

  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. 22.22%

  B. $55.00

  C. 2

  D. 338.5

  Correct Answer: A