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NEW QUESTION # 60
A bond that guarantees the bidder will enter into a contract on the basis of his/her bid is referred to as:
- A. Bid bond
- B. Surety bond
- C. Liability bond
- D. Performance bond
Answer: A
NEW QUESTION # 61
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 recognition of loss of value of a natural resource used in the production process is referred to as:
- A. Depreciation
- B. Capital reduction
- C. Depletion
- D. Net loss
Answer: C
NEW QUESTION # 62
Which of the following is NOT a type of float?
- A. Total
- B. Negative
- C. Open end
- D. Free
Answer: C
NEW QUESTION # 63
Which of the following is NOT an aspect of quality management?
- A. Quality planning
- B. Quality control
- C. Quality checking
- D. Quality assurance
Answer: C
NEW QUESTION # 64
A work breakdown structure (WBS) is developed because:
- A. It defines specific tasks within a project from which schedules can be developed; it aids in linking activities with resources; it facilitates communication; and it allows integration of project plans
- B. It can be illustrated by a simple bar, with important milestones represented by symbols at the planned time of occurrence
- C. It avoids omissions of key product activities through a systematic planning process; removes the complexity of the project by dividing it into manageable units; and provides a framework.
- D. It can be illustrated by individual bars for major phases, such as permitting, funding, engineering, procurement construction, commission/startup
Answer: A
NEW QUESTION # 65
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. Determines the duration of each activity
- B. Allows activities to finish as soon as all their 'predecessor' relationships are satisfied
- C. Allows total float to be calculated
- D. Calculates the earliest allowable start and finish times for the activities in the schedule
Answer: D
NEW QUESTION # 66 
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 3, steel prices will have increased by what percentage over today's price? (round to 1 decimal)
- A. 8.0%
- B. 4.6%
- C. 8.2%
- D. 8.7%
Answer: A
NEW QUESTION # 67
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
NEW QUESTION # 68
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. $3,869
- B. $10,500
- C. $11,925
- D. $5,565
Answer: D
NEW QUESTION # 69 
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 30 months, copper prices will have increased by what percentage over today's price?
- A. 2.5%
- B. 4.6%
- C. 6.6%
- D. 3.5%
Answer: A
NEW QUESTION # 70 
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.
A reason for using a Construction Manager type agreement is:
- A. Coordinate the owner and engineer as in Type A
- B. To better coordinate subcontractors
- C. To better coordinate contractors
- D. To better coordinate contractors and subcontractors as in Type B
Answer: A
NEW QUESTION # 71
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. 13 years
- B. 11 years
- C. 10 years
- D. 12 years
Answer: C
NEW QUESTION # 72
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. There are unknowns that affect the final cost of a project
- C. It is a government requirement
- D. It makes up for the lack of time to develop a real estimate
Answer: B
NEW QUESTION # 73 
The following question requires your selection of CCC/CCE Scenario 2 (2.3.50.1.2) from the right side of your split screen, using the drop down menu, to reference during your response/choice of responses.
9,375 hours have been expended to date. Planned completion at this time is 75%. The project is determined to be 66% complete. Based on current trends, how many hours will be expended at project completion?
- A. 12,000
- B. 14,201
- C. 16,215
- D. 10,526
Answer: D
NEW QUESTION # 74
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. $2,976
- B. $2,424
- C. $2,697
- D. $2,688
Answer: B
NEW QUESTION # 75
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 is NOT an advantage of the critical path method:
- A. Reveals activities that additional resources need to be dedicated toward
- B. The ability to identify activities that cannot have their schedules slip if the desired project end date is to be achieved
- C. The ability to show slippage in the progress of key activities
- D. The ability to determine cost overruns of critical path activities
Answer: D
NEW QUESTION # 76
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