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Key Facts: AACE CCT Exam

100

MCQ Questions

AACE International

3 hrs

Time Limit

AACE International

2 Domains

Equally Weighted

AACE CCT page

70%

Passing Score

AACE handbook

4 yrs

Experience OR Degree

AACE eligibility

184

Free Practice Questions

OpenExamPrep question bank

The CCT exam is a 3-hour, 100-question OPEN-BOOK multiple-choice test using only the AACE CCT Primer and Skills & Knowledge of Cost Engineering reference in a binder. It tests two equally weighted domains: Supporting Skills & Knowledge (50 questions on economics, ethics, communications, management foundations) and Process & Technical Skills Knowledge (50 questions on estimating, EVM, scheduling, procurement, risk, quality, resource, and TCM Framework basics). Pass at 70% overall. Certification is valid for 4 years and CANNOT be recertified - candidates must retake the exam or progress to a higher AACE credential (CCP, CEP, PSP).

Sample AACE CCT Practice Questions

Try these sample questions to review concepts for the AACE CCT exam. Each question includes a detailed explanation. Start the interactive quiz above for the full 184+ question experience with AI tutoring.

1Which AACE certification is the entry-level technician credential for cost engineering practitioners with limited industry experience?

A.AACE Certified Cost Professional (CCP)

B.AACE Certified Cost Technician (CCT)

C.AACE Certified Estimating Professional (CEP)

D.AACE Planning & Scheduling Professional (PSP)

Explanation: The Certified Cost Technician (CCT) is AACE International's entry-level technician credential. Eligibility is 4 years of industry-related experience OR a 4-year industry-related degree, plus adherence to AACE's Canons of Ethics. It sits below the professional-level CCP and CEP credentials and tests fundamental cost engineering, total cost management and supporting knowledge.

2According to AACE, which definition BEST describes cost engineering?

A.Designing machinery and equipment so that it is cheaper to manufacture

B.Applying scientific principles to cost estimating, economic analysis, and scheduling

C.Recording and reporting completed financial transactions in the enterprise ledgers and statements

D.Negotiating supplier contracts and administering purchase orders on a project

Explanation: AACE's Constitution and Bylaws describe the practice as the use of engineering judgment and experience in applying scientific principles and techniques to business and program planning, cost estimating, economic and financial analysis, program and project management, planning and scheduling, and cost and schedule performance measurement and change control. Those practice areas collectively are cost engineering; the process through which they are applied is total cost management.

3Direct costs on a construction project would typically include which of the following?

A.Project office rent and corporate overhead

B.Site supervision and quality inspection labor

C.Permanent equipment installed in the facility

D.Insurance premiums for the prime contractor's bonds

Explanation: Direct costs can be traced exclusively to a single project work activity or deliverable. Permanent installed equipment, craft labor producing the work, and permanent materials are textbook direct costs. Site supervision, corporate overhead, and bonds are indirect costs — they support multiple activities or the overall project but cannot be charged to a single activity.

4Per AACE Recommended Practice 18R-97, a Class 5 estimate is BEST characterized by which level of project definition and accuracy?

A.0%-2% definition; used for concept screening

B.10%-40% definition; used for budget authorization

C.30%-75% definition; used for control or bid/tender

D.65%-100% definition; used for check estimate or bid

Explanation: Table 1 of AACE 18R-97 makes the maturity of project definition deliverables the sole primary characteristic of estimate class. Class 5 sits at 0%-2% definition, is used for concept screening, is prepared by capacity-factored or parametric methods, and carries the widest typical accuracy (roughly -50% to +100% at the outer bounds).

5AACE defines contingency as an amount included in an estimate to address which of the following?

A.Scope changes approved after the cost baseline is set

B.Known-unknown risks within the defined project scope

C.Profit margin and the required return to shareholders

D.Force majeure events such as war or natural disaster

Explanation: AACE defines contingency as an amount added to an estimate for items, conditions or events whose occurrence is uncertain but which experience shows will, in aggregate, result in additional cost. These are the known-unknowns inside the defined scope. AACE's definition explicitly excludes major scope changes, extraordinary events, management reserve, and escalation or currency effects.

6If $1,000 is invested today at 8% annual interest compounded annually, what is the future value at the end of 5 years (rounded)?

A.$1,400

B.$1,469

C.$1,500

D.$1,540

Explanation: Future value formula: FV = PV × (1 + i)^n = 1000 × (1.08)^5. (1.08)^5 = 1.4693. So FV = $1,469.33, rounded to $1,469. This is the single-payment compound amount factor (F/P, i, n).

7The straight-line depreciation method for an asset with a $100,000 cost, a $10,000 salvage value, and a 9-year life produces what annual depreciation expense?

A.$10,000

B.$11,111

C.$12,000

D.$9,000

Explanation: Straight-line depreciation = (Cost - Salvage Value) / Useful Life = (100,000 - 10,000) / 9 = $10,000 per year. SL depreciation distributes the depreciable base evenly over the asset's useful life.

8Which depreciation method depreciates assets over recovery periods (3, 5, 7, 10, 15, 20, 27.5, 39 years) using IRS-specified percentages?

A.Straight-line

B.Double Declining Balance (DDB)

C.Modified Accelerated Cost Recovery System (MACRS)

D.Sum-of-years-digits (SYD)

Explanation: MACRS is the U.S. tax depreciation system that assigns assets to property classes (3, 5, 7, 10, 15, 20 years for personal property; 27.5 for residential rental; 39 for nonresidential real). It uses IRS-published percentages based on a declining-balance method switching to straight-line, with a half-year or mid-quarter convention. MACRS is required for U.S. tax depreciation.

9A project has an initial cost of $50,000 and generates net cash inflows of $15,000 per year for 5 years. What is the simple (non-discounted) payback period?

A.2.5 years

B.3.0 years

C.3.33 years

D.5.0 years

Explanation: Simple payback = Initial Investment / Annual Cash Flow = 50,000 / 15,000 = 3.33 years. Simple payback ignores the time value of money and treats cash flows as recovered evenly. After 3 years the cumulative inflow is $45,000; the remaining $5,000 is recovered in another 0.33 years.

10The Net Present Value (NPV) decision rule for a single project says ACCEPT the project when:

A.NPV > 0 at the firm's discount rate

B.NPV equals the initial investment

C.Payback is less than 1 year

D.Internal Rate of Return is less than the cost of capital

Explanation: A positive NPV means the project's discounted cash flows exceed the initial investment at the firm's required rate of return (cost of capital, MARR). NPV > 0 implies the project earns more than the discount rate and adds value. NPV = 0 means the project just earns the discount rate; NPV < 0 means it destroys value.

About the AACE CCT Exam

The AACE Certified Cost Technician (CCT) is the entry-level technician credential from AACE International, validating fundamental knowledge of cost engineering and total cost management for practitioners with 4 years of industry-related experience or a 4-year industry-related degree. The exam is open-book and covers two equally weighted domains - Supporting Skills & Knowledge (50 questions) and Process & Technical Skills Knowledge (50 questions) - drawn from the CCT Primer and the AACE Skills & Knowledge of Cost Engineering reference. Topics include cost estimating, engineering economics, project planning and scheduling, EVM, procurement, quality, resource management, and the AACE TCM Framework.

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

Assessment

100 simple multiple-choice questions, open book using AACE's CCT Primer and Skills & Knowledge reference in a binder

Time Limit

3 hours

Passing Score

70% overall

Exam / Certification Fees

$260 AACE members / $390 non-members

Exam sponsor website

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

Official sources

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.

50%

Supporting Skills & Knowledge

50 questions covering AACE terminology, the Canons of Ethics, communication and management skills, engineering economics fundamentals (PV/FV/NPV/IRR, depreciation including straight-line, DDB, MACRS, after-tax cash flow, life cycle cost), and the structural overview of the AACE TCM Framework with its PDCA loop, plus physical measurement and unit conversions, information management, and environmental, health and safety (EHS) cost management.

50%

Process & Technical Skills Knowledge

50 questions covering cost estimating (AACE 18R-97 estimate classes, parametric methods, contingency, location factors), project planning and scheduling (CPM forward/backward pass, total/free float, PERT three-point estimating, schedule compression), project cost management and EVM (PV/EV/AC, CPI/SPI, EAC/TCPI/VAC, percent-complete techniques), procurement (FFP/FPIF/CPFF/CPIF/T&M/GMP, bonds, IFB/RFP/RFQ), quality (cost of quality, QA vs QC, Pareto), resource management (productivity, learning curves, leveling vs smoothing), and risk management (P-I matrix, EMV, Monte Carlo basics, responses), plus requirements elicitation, plan implementation and plan validation, and the asset-side processes of asset performance measurement, asset performance assessment, and configuration management.

Preparing for the AACE CCT Exam

What You Need to Know

Passing score: 70% overall
Assessment: 100 simple multiple-choice questions, open book using AACE's CCT Primer and Skills & Knowledge reference in a binder
Time limit: 3 hours
Exam / certification fees: $260 AACE members / $390 non-members Official sources

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AACE CCT: Suggested Study Strategy

1Master the AACE TCM Framework structure: two integrated process areas (Strategic Asset Management and Project Control), each running a Plan-Execute-Measure-Assess (PDCA) loop. Most CCT questions trace back to this hierarchy.

2The CCT is OPEN BOOK with only the CCT Primer and Skills & Knowledge in a binder. Build tabs/index cards for: AACE 18R-97 estimate classes, engineering economics factors (P/F, F/P, P/A, A/P, F/A, A/F), MACRS depreciation tables, EVM formula cheat sheet, contract type comparison, and Canons of Ethics. Speed of lookup decides your pass.

3Memorize AACE 18R-97 estimate classes cold: Class 5 (0-2% definition, concept screening) -> Class 4 (1-15%, feasibility) -> Class 3 (10-40%, budget) -> Class 2 (30-70%, control) -> Class 1 (65-100%, check/bid). Lower class = more definitive.

4Drill engineering economics formulas: PV = FV/(1+i)^n, NPV = sum CF/(1+r)^t, simple payback = Investment / Annual Cash Flow, effective annual rate = (1+i_nom/m)^m - 1. Practice DDB (rate = 2/Life applied to book value) and straight-line ((Cost - Salvage)/Life).

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 x SPI), TCPI = (BAC-EV)/(BAC-AC). EV always goes on TOP.

6Memorize contract type acronyms and risk allocation. Seller bears most cost risk: FFP > FPIF > FPEPA > T&M > CPIF > CPAF > CPFF. Know GMP (cost-reimbursable to a cap with shared savings) and FFP performance bonds.

7Drill PERT formulas: tE = (O + 4M + P)/6 mean; sigma = (P - O)/6 standard deviation. Variances ADD across critical path activities; standard deviations DO NOT add directly. Sum variances, then take sqrt for project sigma.

8Practice CPM forward and backward passes. ES = max(EF of predecessors); LF = min(LS of successors); Total Float = LF - EF = LS - ES. Critical path = longest duration path = TF = 0. Free Float = ES(successor) - EF(activity), and FF <= TF always.

9Cost of Quality categorization: prevention (training, planning) + appraisal (inspection, testing) = CONFORMANCE; internal failure (rework, scrap) + external failure (warranty, recalls) = NONCONFORMANCE. Invest in conformance to reduce total COQ.

10Schedule mock exams in actual 3-hour blocks, using only the binder you plan to bring. If lookups take more than 30 seconds, retab. Most CCT failures are timing failures, not knowledge failures.

Frequently Asked Questions

What is the AACE CCT certification?

The Certified Cost Technician (CCT) is AACE International's entry-level technician credential, designed for practitioners with at least 4 years of industry-related experience OR a 4-year industry-related degree. It validates foundational knowledge across cost estimating, engineering economics, scheduling, EVM, procurement, and the AACE TCM Framework.

What are the CCT eligibility requirements?

Candidates need either 4 years of industry-related experience OR a 4-year industry-related degree. They must also adhere to AACE's Canons of Ethics and submit a completed application. No technical paper or written deliverable is required, and AACE never requires a candidate to buy its training or study materials.

How is the CCT exam structured?

The CCT exam is a 3-hour open-book computer-based test of 100 simple multiple-choice questions. The two domains are equally weighted: Supporting Skills & Knowledge (50 questions) and Process & Technical Skills Knowledge (50 questions). The only references allowed in the exam room are the AACE CCT Primer and Skills & Knowledge of Cost Engineering, in a binder.

What is the CCT passing score?

AACE requires an overall score of 70% or higher to pass the CCT exam — 70 correct out of 100. Both domains contribute to the overall score, and any style of stand-alone battery-operated calculator is permitted (candidate-provided; the testing center does not supply one).

How much does the CCT exam cost?

The CCT application/exam fee is $260 for AACE members and $390 for non-members. A resit fee of $185 applies if you need to retake. All fees are non-refundable and due upon application. AACE membership is optional for certification but reduces the exam fee. Costs are subject to change; verify on aacei.org.

How does the CCT differ from the AACE CCP?

The CCT is the entry-level technician credential: open book (CCT Primer and Skills & Knowledge only), 100 simple multiple-choice questions, 3 hours maximum. The CCP is the senior-level professional credential: closed book with onscreen formula sheets, 119 simple multiple-choice and compound scenario questions plus one onscreen memo-writing assignment, 5 hours maximum. Neither credential requires a technical paper. The CCT covers the same TCM topics at a foundational level and serves as a stepping stone toward CCP or specialty credentials (CEP, PSP).

How long should I study for the CCT?

Most candidates dedicate 60-120 hours over 2-4 months. Primary study resources are the AACE CCT Primer (must-have for the exam room), AACE Skills & Knowledge of Cost Engineering, and practice questions covering AACE 18R-97 estimate classes, engineering economics, CPM scheduling, EVM formulas, and contract types.

How do I maintain the CCT certification?

CCT certification is valid for 4 years and IS NOT eligible for recertification through continuing education credits. To maintain credentials beyond 4 years, candidates must either retake the CCT exam or advance to a professional-level AACE credential (CCP, CEP, PSP, EVP, or PRMP) before the CCT expires.

Free Practice Questions for AACE CCT

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