| Exam Code | CCP |
| Exam Name | Certified Cost Professional (CCP) Exam |
| Questions | 115 |
| Update Date | March 20,2023 |
| Price |
Was : |
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______________can be defined as the determination of that course of action or combination of alternatives that yields either the lowest cost or the highest profit.
A. Economic optimization
B. Simulation
C. Linear programming
D. Dynamic programming
Answer: D
A bond that guarantees the bidder will enter into a contract on the basis of his/her bid is referred to as:
A. Surety bond
B. Performance bond
C. Bid bond
D. Liability bond
Answer: C
An effort by a prime contractor to reduce the price quoted by a vendor, by providing the bid price to other vendors in an attempt to get the other vendors to underbid the original price quoted is referred to as:
A. Costing
B. Cost-price analysis
C. Bid shopping
D. Negotiating a best and final offer
Answer: C
What is executed in connection with a contract and secures the performance and fulfillment of all the undertakings, covenants, terms, conditions and agreements contained in the contract?
A. Liability insurance
B. Performance bond
C. Bid bond
D. Surety bond
Answer: B
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. Productivity efficiency factor
B. Value engineering
C. Cash flow
D. The learning curve
Answer: D
A contract clause that provides the owner with the right to terminate the contract irrespective of the general contractor's liability is:
A. Termination of contract - convenience
B. Termination of contract - default
C. Substantial completion
D. Breach of contract
Answer: A
The purpose of a communication must be understood by ____________ if the message is to be clear to the
A. Workers; management
B. The speaker; the receiver
C. Management; workers
D. The receiver; the speaker
Answer: C
Meetings require:
A. Goals, an agenda, preparation, relevant discussions, support for your actions and to consider the total physical and human setting of the meeting
B. Goals, an agenda, preparation, conclusions, control and conversations that are relevant
C. Goals, an agenda, preparation, control, good listening skills and relevant discussions
D. Goals, an agenda, flipchart, computer projector, laser pointer and consulting with others where appropriate
Answer: B
The goal of listening is to:
A. Analyze what the speaker is saying
B. Find out what is going on
C. Have time to formulate your thoughts on the subject
D. Improve communication
Answer: D
Some of the principles of good communication are:
A. Seek to clarify your ideas before communicating; examine the true purpose of each communication; consider the total physical and human setting whenever you communicate; be mindful, while you communicate, of the overtones as well as the basic content of the message
B. Tell the other person what to do; give insincere praise; psychoanalyze the other person; make light of a serious problem; do not gain the trust of anyone; always have a hidden agenda
C. Use short words; avoid jargon; avoid acronyms and abbreviations; use complete sentences; have a beginning, middle and end; be accurate; be interested in what topic is being communicated
D. The social process by which people in a specific situation construct meaning using symbolic behavior
Answer: C
