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NEW QUESTION 36
If a project is said to be on a "fast track program/' the fast track method is:
- A. Analyzing the project and specifying the basic approach to be used in its execution; segmenting the project into reasonable number of activities; estimating the time required to perform each activity; placing the activities in time order, considering both sequential and parallel performance
- B. First completing engineering and procurement, then executing construction
- C. Simultaneous working engineering, procurement, and construction, with appropriate overlap from each phase of work so that delays are eliminated and all the work is streamlined into a correct plan of logic/sequence and duration for all of the work
- D. Revising the schedule logic to make it possible to identify constraints of faulty logic; revising the durations in the n p schedule that have been based on assumptions regarding the \hay the work would be performed; revise the resources to work multiple shifts; evaluate the use of overtime
Answer: C
NEW QUESTION 37
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. Use historical data from past projects
- B. Adjust known data from existing rides
- C. Call vendors for quotes
- D. Break down the technology into components
Answer: B
NEW QUESTION 38
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.
All of the following are included in "income tax" calculations except:
- A. Depreciation
- B. Annual expenditures
- C. Annual income
- D. Initial cost of investment
Answer: D
NEW QUESTION 39
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. Lost profits
- B. Postponed profits
- C. Marginal profits
- D. Incurred profits
Answer: B
NEW QUESTION 40
____________is defined as the earned work hours or dollars for all accounts divided by the budgeted work hours or dollars for all accounts.
- A. Percent complete
- B. Earned value
- C. Cost to complete
- D. Forecast
Answer: A
NEW QUESTION 41 
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.
If steel costs $1800/ton at the end of Year 3, what is the price of steel at the end of Year 4?
- A. $1890/ton
- B. $1948/ton
- C. $1863/ton
- D. $1836/ton
Answer: D
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.
According to Maslow's hierarchy of needs, which level should be satisfied first?
- A. Ego-status
- B. Physiological
- C. Self-actualization
- D. Safety needs
Answer: B
NEW QUESTION 43
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.
You have been asked to provide ETC information to management. Based on the following information, what is the ETC?
Original Budget = $9,000,000 Actuals to date = $3,513,000
Current estimate at completion = $10,613,000
Actuals for current month = $1,200,000
- A. $10,613,000
- B. $9,000,000
- C. $7,100,000
- D. $5,487,000
Answer: C
NEW QUESTION 44
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 project scheduler left the company and has left unfinished work. You have been hired as the new project scheduler and must update the existing schedule. What will be your first task?
- A. Recalculate the critical path
- B. Recalculate the early finish for each activity
- C. Recalculate the early start for each activity
- D. Update the remaining duration for each activity
Answer: A
NEW QUESTION 45
The process of stating goals and determining the most effective way of reaching them is the definition for:
- A. Planning
- B. Mission Statement
- C. Managing
- D. Implementing
Answer: A
NEW QUESTION 46 
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.
What is the cost of manufacturing labor for the piece of equipment today?
- A. $105,000
- B. $210,000
- C. $875,000
- D. $140,000
Answer: D
NEW QUESTION 47
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. Precedence diagram method
- C. Precedence and arrow diagram methods only
- D. Gantt chart (bar chart) method
Answer: C
NEW QUESTION 48
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.
How many years will it take to earn $400 in interest on $800 at 4% compounded annually?
- A. 12 years
- B. 10 years
- C. 11 years
- D. 13 years
Answer: B
NEW QUESTION 49
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. Free float
- B. Activity total slack
- C. Remaining duration
- D. Just-in-time" scheduling
Answer: B
NEW QUESTION 50
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 51
If you deposit $100 per month for two (2) years and earn interest at 12% APR (Annual Percentage Rate) compounded monthly, how much will you have at the end of the period?
- A. $2,697
- B. $2,688
- C. $2,976
- D. $2,424
Answer: D
NEW 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.
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. Self-actualizations
- B. Need satisfaction
- C. Esteem
- D. Belonging needs
Answer: A
NEW QUESTION 53 
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.
Given a unit price contract between the owner and contractor, each assumes the following:
- A. Bid unit rate, owner quantities are within estimate range
- B. Contractor can perform at or below bid unit rate, owner quantities can exceed estimate range
- C. Contractor can perform at or below bid unit rate, owner quantities are within estimate range
- D. Bid unit rate, owner quantities can exceed estimate range Contractor can perform above
Answer: C
NEW QUESTION 54
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.
Annual estimated tax would be:
- A. $10,500
- B. $5,565
- C. $3,869
- D. $11,925
Answer: B
NEW QUESTION 55
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