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CCP Certification | CCP Valid Exam Sims

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AACE International CCP certification exam is a vital credential in the construction, engineering, and project management fields. Certified Cost Professional (CCP) Exam certification signifies that an individual has the necessary knowledge and expertise in cost engineering concepts, and professionals who have acquired this certification are highly sought after. The CCP certification exam is an opportunity for professionals to attain advanced learning in cost control and management, and earning the credential is an excellent way to advance their careers.

To be eligible for the CCP Certification Exam, candidates must have a minimum of four years of professional experience in cost management, with a bachelor's degree or higher in a related field. Alternatively, those without a degree may substitute ten years of professional experience in cost management.

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CCP Valid Exam Sims - CCP Reliable Exam Pattern

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AACE International Certified Cost Professional (CCP) Exam Sample Questions (Q157-Q162):

NEW QUESTION # 157
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.
Assuming a 53% tax rate, how much cumulative depreciation will have been claimed at the end of the grain elevator's life span?

• A. $80,000
• B. $37,600
• C. None
• D. $42,400

Answer: A

Explanation:
Straight-line depreciation means that the cost of the asset is evenly spread over its useful life. Given that the grain elevator has a cost of $80,000 and a lifespan of 25 years, the cumulative depreciation at the end of its life span would be the entire initial cost of the asset. Since there is no salvage value, the full $80,000 will be depreciated over 25 years. Thus, the correct answer is D. $80,000.

NEW QUESTION # 158
Meetings require:

• A. Goals, an agenda, preparation, control, good listening skills and relevant discussions
• B. Goals, an agenda, preparation, conclusions, control and conversations that are relevant
• C. Goals, an agenda, preparation, relevant discussions, support for your actions and to consider the total physical and human setting of the meeting
• D. Goals, an agenda, flipchart, computer projector, laser pointer and consulting with others where appropriate

Answer: B

NEW QUESTION # 159
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.
What is the 25 year after tax present worth of this project?

• A. $13,738
• B. $(22,533)
• C. $22,533
• D. $137,466

Answer: D

Explanation:
To calculate the 25-year after-tax present worth of this project, we need to consider the income, expenses, depreciation, and taxes.
First, calculate the annual depreciation:
Depreciation=Initial CostLife=80,00025=3,200 ext{Depreciation} = rac{ ext{Initial Cost}}{ ext{Life}} = rac{80,000}{25} = 3,200Depreciation=LifeInitial Cost​=2580,000​=3,200 Now, calculate the taxable income each year:
Taxable Income=Revenue-Expenses-Depreciation=22,500-12,000-3,200=7,300 ext{Taxable Income} = ext{Revenue} - ext{Expenses} - ext{Depreciation} = 22,500 - 12,000 - 3,200 = 7,300Taxable Income=Revenue-Expenses-Depreciation=22,500-12,000-3,200=7,300 Calculate the tax:
Tax=Taxable Income×Tax Rate=7,300×0.53=3,869 ext{Tax} = ext{Taxable Income} imes ext{Tax Rate} = 7,300 imes 0.53 = 3,869Tax=Taxable Income×Tax Rate=7,300×0.53=3,869 Net income after tax:
Net Income=Taxable Income-Tax=7,300-3,869=3,431 ext{Net Income} = ext{Taxable Income} - ext{Tax} = 7,300 - 3,869 = 3,431Net Income=Taxable Income-Tax=7,300-3,869=3,431 Add back depreciation (since it's a non-cash expense):
Cash Flow=3,431+3,200=6,631 ext{Cash Flow} = 3,431 + 3,200 = 6,631Cash Flow=3,431+3,200=6,631 Finally, calculate the present worth using the formula for the present worth of an annuity:
Present Worth=6,631×(1-(1+0.10)-250.10)≈137,466 ext{Present Worth} = 6,631 imes left(rac{1-(1+0.10)

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