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NEW QUESTION # 38
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.
Which of the following percent complete measurement techniques is best suited for long-term non-production accounts (such as overhead accounts)?
- A. Ratio/level of effort
- B. Start/finish
- C. Units completed
- D. Incremental milestone
Answer: D
NEW QUESTION # 39
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. $42,400
- B. None
- C. $37,600
- D. $80,000
Answer: D
NEW QUESTION # 40
The written word is often more useful than the spoken. Guidelines for writing include:
- A. Use short sentences; use short words; avoid jargon and abbreviations; use complete sentences; stick to one idea per paragraph; have a beginning, middle and end; be accurate
- B. Organize the background information; state the problem list the options or alternatives; state the recommendation (s); conclude and summarize with why the recommendation is the best way to proceed
- C. Follow an outline; allow some time for "cooling" after compiling the draft before revising; when revising, allow plenty of time for several sessions
- D. Explain, report, describe, clarify, define and demonstrate
Answer: B
NEW QUESTION # 41
_____________is defined as the budget for the cost (work) account times the percent complete for that account.
- A. Forecast
- B. Cost to complete
- C. Earned value
- D. Percent complete
Answer: C
NEW QUESTION # 42
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.
When analyzing a precedence diagram schedule, the "backward pass"
- A. Calculates the earliest allowable start and finish times for the activities in the schedule
- B. Allows activities to finish as soon as all their 'predecessor' relationships are satisfied
- C. Allows total float to be calculated
- D. Determines the duration of each activity
Answer: A
NEW QUESTION # 43
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.
Which of the following methods a used for creating critical path schedules:
- A. Arrow diagram method
- B. Gantt chart (bar chart) method
- C. Precedence and arrow diagram methods only
- D. Precedence diagram method
Answer: C
NEW QUESTION # 44
Cost performance index (CPI) is defined by AACE International as: (assume no change in budgeted quantities)
- A. BCWP/ACWP
- B. BCWS/BCWP
- C. ACWP/BCWP
- D. ACWP/BCWS
Answer: A
NEW QUESTION # 45
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. Includes portion of the budget for level-of-effort work
- D. Sum of the budgets for work scheduled
Answer: C
NEW QUESTION # 46
AACE International defines _____________as a technique of economic evaluation that sums over a given study period, the costs of initial investment, replacements, operations, and maintenance/repair; expressed in either present or annual value terms.
- A. Benefit/Cost ratio (B/C) method
- B. Net present worth method
- C. Risk analysis
- D. Life cycle costs method (LCC)
Answer: D
NEW QUESTION # 47
A contract clause that provides the owner with the right to terminate the contract irrespective of the general contractor's liability is:
- A. Substantial completion
- B. Termination of contract - convenience
- C. Breach of contract
- D. Termination of contract - default
Answer: B
NEW QUESTION # 48
Productivity increases with time. This improvement is commonly associated with improvements in efficiency brought about by increased experience and skill levels. What does this scenario describe?
- A. Value engineering
- B. Productivity efficiency factor
- C. The learning curve
- D. Cash flow
Answer: C
NEW QUESTION # 49
The latest allowable end time minus the earliest allowable end time on a schedule activity is referred to as:
- A. Just-in-time scheduling
- B. Remaining duration
- C. Total float
- D. Free float
Answer: C
NEW QUESTION # 50 
The following question requires your selection of CCC/CCE Scenario 4 (2.7.50.1.1) from the right side of your split screen, using the drop down menu, to reference during your response/choice of responses.
At the end of Year 4, the commodity which experienced the greatest projected percentage price index increase over today is:
- A. Steel
- B. Manufacturing labor
- C. Copper
- D. None of the above
Answer: B
NEW 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.
The latest allowable end time minus the earliest allowable end time on a schedule activity is referred to as:
- A. Just-in-time" scheduling
- B. Remaining duration
- C. Activity total slack
- D. Free float
Answer: C
NEW QUESTION # 52
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 you buy a lot for $3,000 and sell it for $6,000 at the end of 8 years, what is your annual rate of return?
- A. 8.3%
- B. 9.1%
- C. 10.4%
- D. 9.9%
Answer: B
NEW QUESTION # 53
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