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Free Practice Questions for AACE CCP

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Key Facts: AACE CCP Exam

119 + memo

MCQ Questions

AACE International

5 hrs

Exam Time Limit

AACE International

7 Domains

CCP Exam Blueprint (May 2026)

AACE CCP Candidate Handbook

70%

Passing Score

AACE handbook

4 yrs

Experience (with degree)

AACE eligibility

100+

Free Practice Questions

OpenExamPrep question bank

The CCP exam allows up to 5 hours for 119 multiple-choice and scenario questions plus one memo written on screen. AACE's May 2026 blueprint has seven domains: Managing Project Costs (43 questions), Interface with Other Disciplines (28), Create Reports and Documentation (13), Conduct Performance Measurement/Analysis (20), Support/Inform the Scheduling Process (6), Inform the Risk Management Process (9), and Communication Competency (the memo). An overall average of 70% across the seven domains passes.

Sample AACE CCP Practice Questions

Try these sample questions to review concepts for the AACE CCP exam. Each question includes a detailed explanation. Start the interactive quiz above for the full 155+ question experience with AI tutoring.

1According to the AACE International Recommended Practice 18R-97, which estimate class represents the lowest level of project definition (typically 0%–2% complete) and is used for concept screening?
A.Class 1
B.Class 3
C.Class 4
D.Class 5
Explanation: Class 5 estimates are produced at the earliest level of project definition (0%–2% complete) and are typically used for concept screening, feasibility, or order-of-magnitude purposes. They have the widest accuracy ranges (often -50% to +100%) and the lowest preparation effort. As project definition matures, classes progress toward Class 1, which is the most definitive (65%–100% complete).
2In total cost management, which cost category includes labor, materials, equipment, and subcontracts that are incurred directly by the project work activities?
A.Indirect costs
B.Direct costs
C.Sunk costs
D.Opportunity costs
Explanation: Direct costs are costs that can be specifically and exclusively traced to a particular project activity, deliverable, or work package. Typical direct costs include craft labor, permanent materials, installed equipment, and subcontracted scope. They are distinguished from indirect costs (which support multiple activities, such as project management, site overhead, or general office expenses) by their traceability to a single cost object.
3Contingency, as defined by AACE, is intended to cover which of the following?
A.Scope changes outside the current project baseline
B.Identified risks and known-unknowns within the defined scope
C.Force majeure events such as war or natural disaster
D.Profit margin and shareholder return
Explanation: AACE defines contingency as an amount added to an estimate to allow for items, conditions, or events whose state, occurrence, or effect is uncertain but that experience shows will likely result in additional cost — i.e., 'known-unknowns' within the defined scope. Contingency does not cover scope changes (those use change management/management reserve) or extraordinary force majeure events (often handled through allowances or escalation).
4Which estimating method develops cost by aggregating the cost of each individual component, work package, or activity from the bottom up?
A.Parametric estimating
B.Analogous (top-down) estimating
C.Detailed (definitive) estimating
D.Order-of-magnitude estimating
Explanation: Detailed (or definitive) estimating builds total project cost by quantifying each work package or activity, applying unit rates for labor, material, and equipment, and aggregating bottom-up. It requires substantial design completion and is associated with AACE Class 1 or Class 2 estimates. Parametric and analogous methods are top-down approaches used at lower levels of project definition.
5An owner asks for a Class 3 estimate. According to AACE 18R-97, what level of project definition is typically required, and what is the primary use?
A.0%–2% definition; concept screening
B.1%–15% definition; study or feasibility
C.10%–40% definition; budget authorization, funding, or control baseline
D.65%–100% definition; check estimate or bid evaluation
Explanation: Per AACE 18R-97, a Class 3 estimate is prepared at 10%–40% project definition and is most commonly used to authorize budget, support funding decisions, or establish a project control baseline. Typical accuracy ranges fall around -20% to +30%, although the actual range depends on the industry and risk profile.
6A future cash flow of $100,000 is to be received in 5 years. At an annual discount rate of 8%, what is its present value (rounded)?
A.$68,058
B.$74,074
C.$92,593
D.$108,000
Explanation: Present Value = FV / (1 + i)^n = 100,000 / (1.08)^5. (1.08)^5 ≈ 1.4693, so PV ≈ 100,000 / 1.4693 ≈ $68,058. This is the (P/F, 8%, 5) single-payment present-worth factor in engineering economics.
7An asset costs $50,000 with a salvage value of $5,000 after a 5-year useful life. Using straight-line depreciation, what is the annual depreciation expense?
A.$9,000
B.$10,000
C.$11,000
D.$45,000
Explanation: Straight-line depreciation = (Cost − Salvage) / Useful Life = ($50,000 − $5,000) / 5 = $9,000 per year. The depreciable base ($45,000) is spread evenly over the asset's life, regardless of usage pattern.
8A project has cash flows of -$100,000 at year 0, +$40,000 at years 1, 2, and 3. At a discount rate of 10%, what is the project's NPV (rounded)?
A.-$526
B.$0
C.-$526 with IRR > 10%
D.$5,000
Explanation: NPV = -100,000 + 40,000/(1.10)^1 + 40,000/(1.10)^2 + 40,000/(1.10)^3 = -100,000 + 36,364 + 33,058 + 30,053 ≈ -100,000 + 99,475 ≈ -$525. Because NPV is negative at 10%, the IRR is below 10% (the discount rate that drives NPV to zero is approximately 9.7%).
9Which depreciation method records higher expense in early years and lower expense in later years by applying a fixed rate (typically 200%) to the declining book value, ignoring salvage value until the book value approaches it?
A.Straight-line
B.Sum-of-the-years-digits
C.Double-declining balance (DDB)
D.Units-of-production
Explanation: Double-declining balance (DDB) applies twice the straight-line rate (200%) to the asset's book value each year. Because the book value declines, the depreciation expense decreases over time. Salvage value is not subtracted from the depreciable base; instead, depreciation stops once book value equals salvage. DDB is an accelerated method, recognizing more expense earlier in the asset's life.
10Under the U.S. Modified Accelerated Cost Recovery System (MACRS), which recovery period applies to most computers and office machinery?
A.3 years
B.5 years
C.7 years
D.10 years
Explanation: MACRS assigns 5-year recovery to computers, peripheral equipment, automobiles, light trucks, and certain office equipment. The standard MACRS classes are 3, 5, 7, 10, 15, 20, 27.5 (residential rental), and 39 (nonresidential real). The 5-year class also includes certain manufacturing technology and research equipment.

About the AACE CCP Exam

The AACE Certified Cost Professional (CCP) is AACE International's professional-level total cost management credential for experienced practitioners who plan, estimate, schedule, and control project costs. The May 2026 exam blueprint has seven domains: Managing Project Costs, Interface with Other Disciplines, Create Reports and Documentation, Conduct Performance Measurement/Analysis, Support/Inform the Scheduling Process, Inform the Risk Management Process, and Communication Competency (a memo). Candidates need 8 years of industry-related experience, or 4 years plus a 4-year industry-related degree, and must pass a 5-hour exam of 119 multiple-choice questions plus one memo written during the exam.

Exam sponsor: AACE International. The requirements and fees below concern the certification or admission exam, separate from our free practice resources.

Assessment

119 multiple-choice and scenario questions plus 1 memo written on screen during the exam (7 domains)

Time Limit

5 hours maximum (multiple-choice and memo)

Passing Score

70% overall average across all 7 domains

Exam / Certification Fees

$525 AACE members / $690 non-members

Exam sponsor website

Fees, eligibility, and exam policies can change. Confirm them with the exam sponsor before applying or paying.

Our practice resources: topics covered

We aim to reflect publicly available exam outlines and topic information in our study resources. Coverage, format, and difficulty may differ from the actual exam, and we cannot guarantee that every detail is accurate or current. Confirm exam requirements, fees, and policies with the official exam sponsor.

36%

Managing Project Costs

Estimates (summary, detailed, ROM), basis review, baseline and time-phased budgets, BAC, committed and accrued costs, change orders, cost forecasting and EAC updates (43 questions).

24%

Interface with Other Disciplines

Applying TCM recommended practices, tenders and bids, scope and contract terms, KPIs, change control, claims, procurement, contingency and recovery plans (28 questions).

11%

Create Reports and Documentation

Cost reports and dashboards, CPI/SPI interpretation, schedule status, profit margin, cash flow and variance reports (13 questions).

17%

Conduct Performance Measurement/Analysis

Performance baselines, earned value analysis, cost/schedule control, variances and trends, profitability analysis (20 questions).

5%

Support/Inform the Scheduling Process

Cost and resource loading of schedules and the cost impact of schedule changes (6 questions).

7%

Inform the Risk Management Process

Risk registers, qualitative and quantitative risk assessment, risk-based contingency and contingency reserves (9 questions).

Memo

Communication Competency

One memo written on screen during the exam: state the problem and its impact, analyze options, recommend an action and hand off to the project manager.

Preparing for the AACE CCP Exam

What You Need to Know

  • Passing score: 70% overall average across all 7 domains
  • Assessment: 119 multiple-choice and scenario questions plus 1 memo written on screen during the exam (7 domains)
  • Time limit: 5 hours maximum (multiple-choice and memo)
  • Exam / certification fees: $525 AACE members / $690 non-members Official sources

Using Our Practice Resources

  • Work through all 155 available questions
  • Review every answer and explanation
  • Track weak areas and revisit them
  • Use our AI tutor for tough concepts

AACE CCP: Suggested Study Strategy

1Master the AACE Total Cost Management (TCM) Framework structure: two integrated process areas (Strategic Asset Management and Project Control), each following a Plan-Execute-Measure-Assess loop. Most exam questions trace back to this hierarchy.
2Memorize the AACE 18R-97 estimate classifications cold: Class 5 (concept screening, 0-2% definition) → Class 4 (study/feasibility, 1-15%) → Class 3 (budget/control, 10-40%) → Class 2 (control, 30-70%) → Class 1 (check/bid, 65-100%). Know typical accuracy ranges.
3Drill engineering economics formulas until they are automatic: PV = FV/(1+i)^n; NPV = sum CF/(1+r)^t; (P/A, i, n) = [(1+i)^n − 1]/[i(1+i)^n]; capital recovery (A/P) = i(1+i)^n / [(1+i)^n − 1]; effective annual rate = (1 + i_nom/m)^m − 1.
4Weight your study by the blueprint: Managing Project Costs has 43 of the 119 multiple-choice questions and Interface with Other Disciplines has 28, so estimating, budgets, change orders, forecasting and claims deserve the most time.
5Earned value formulas to memorize: CPI = EV/AC; SPI = EV/PV; CV = EV − AC; SV = EV − PV; EAC (typical) = BAC/CPI; EAC (cost AND schedule) = AC + (BAC−EV)/(CPI×SPI); TCPI = (BAC−EV)/(BAC−AC). Always put EV on top — it is the work earned.
6Memorize contract type acronyms and risk allocation. Seller bears most risk: FFP > FPIF > FPEPA > T&M > CPIF > CPAF > CPFF. Know GMP (cost-reimbursable to a cap with shared savings) and IPD (multi-party shared risk/reward).
7Drill PERT formulas: tE = (O + 4M + P)/6 mean and σ = (P − O)/6 standard deviation. Sum activity variances along the critical path to estimate project completion variance. Three-point estimates can also use triangular distributions in Monte Carlo.
8Practice cost-of-quality categorization: prevention (training, planning) and appraisal (inspection, testing) are conformance costs; internal failure (rework, scrap) and external failure (warranty, recalls) are nonconformance. Investments in prevention typically lower total COQ.
9Wright learning curve rule: each doubling of cumulative output reduces unit time by the learning rate. 90% curve, 100 hr first unit → 90 hr (2nd) → 81 hr (4th) → 72.9 hr (8th). Steeper curves (70-80%) apply to highly repetitive automated work.
10Practice the memo under time pressure: AACE's guidance asks for no more than one typewritten page in To/From/Date/Subject format, ending with a stand-alone recommendation that hands the decision to the project manager.

Frequently Asked Questions

What is the AACE CCP certification?

The Certified Cost Professional (CCP) is AACE International's professional-level credential for experienced practitioners who apply total cost management to plan, execute and manage projects and programs. The exam covers managing project costs, working with other disciplines, reporting, performance measurement, scheduling support, risk, and a written memo.

What are the CCP eligibility requirements?

Candidates need 8 years of industry-related experience, or 4 years of industry-related experience plus a 4-year industry-related degree. Experience must be verified by the employer, and candidates must adhere to AACE's Canons of Ethics. There is no separate technical paper; the memo is written during the exam.

How is the CCP exam structured?

The CCP exam allows up to 5 hours for 119 simple multiple-choice and compound scenario questions plus one memo written in an onscreen text box. It is delivered by Kryterion at a testing center or by online proctoring, and memos are graded in a monthly cycle starting around the 15th.

What is the CCP passing score?

Each of the 7 domains is scored, and an overall average of 70% or higher passes. A candidate can fail some domains and still pass overall, or pass several domains and still fail. AACE releases results as pass or fail only.

How much does the CCP exam cost?

The CCP exam fee is $525 for AACE members and $690 for non-members, and each resit costs $260. Regular AACE membership is $225 when joining in the first quarter. Fees are non-refundable and can change; verify on aacei.org.

How does the CCP differ from the AACE CEP?

The CCP covers total cost management broadly across 7 exam domains, from managing project costs to informing risk management. The CEP (Certified Estimating Professional) focuses on cost estimating. Both are AACE professional-level certifications with the same eligibility rule: 8 years of industry-related experience, or 4 years plus a 4-year industry-related degree.

How long should I study for the CCP?

Most candidates dedicate 100-200 hours over 3-6 months. AACE's optional recommended materials include the CCP Certification Study Guide, Recommended Practices 11R-88 and 10S-90, Skills & Knowledge of Cost Engineering (6th edition), the TCM Framework, the CCP Review Course, and the free How to Write a CCP Memo guide.

How do I maintain the CCP certification?

CCP certification is valid for 3 years. Recertify by earning 12 CEUs in at least two categories (performed work, professional development, industry contribution, volunteer service) during the 3-year period, or by passing the exam again.