100+ Free AACE EVP Practice Questions

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A Notice of Concern (NOC) issued by a customer EVMS surveillance team:

Means the contract is cancelled

Has no consequences

Identifies a specific deficiency requiring contractor corrective action; persistent or severe issues may lead to a Corrective Action Request (CAR) or system decertification

Is a compliment

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2026 Statistics

Key Facts: AACE EVP Exam

120 items

Total Questions (119 MCQ + 1 memo)

AACE EVP page

5 hrs

Time Limit

AACE EVP page

7 Domains

Per Study Guide

AACE EVP Study Guide

70%

Passing Score (overall average)

AACE handbook

8 yrs

Experience (or 4 + degree)

AACE eligibility

100+

Free Practice Questions

OpenExamPrep question bank

The EVP exam is a 5-hour, 119-question CLOSED-BOOK multiple-choice and scenario test plus a written memo. Seven domains (per AACE EVP study guide): Organizing (15), Planning/Scheduling/Budgeting (16), Budgeting Duties (15), Account Considerations (13), Analysis and Management Reports (41 - the biggest), Revisions and Data Maintenance (19), and Communication (1 memo). Pass at 70% overall (average of domains). Tests ANSI/EIA-748 mastery, EVMS formulas (CPI=EV/AC, SPI=EV/PV, EAC=BAC/CPI, EAC=AC+(BAC-EV)/(CPIxSPI), TCPI=(BAC-EV)/(BAC-AC), VAC=BAC-EAC), EV techniques (0/100, 50/50, weighted milestones, LOE, apportioned effort, units complete), PMB structure (CBB, TAB, MR, UB, AUW, OTB), IPMR/IPMDAR reporting, IBR/surveillance, Earned Schedule, Christensen CPI stability. Certification valid 3 years; renew via 12 CEUs across 2 categories or re-exam.

Sample AACE EVP Practice Questions

Try these sample questions to test your AACE EVP exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1Per ANSI/EIA-748 Earned Value Management Systems standard, the FIRST of the five major process groups is:

A.Planning, Scheduling, and Budgeting

B.Organizing

C.Accounting Considerations

D.Analysis and Management Reports

Explanation: ANSI/EIA-748 organizes its 32 EVMS guidelines into five process groups: (1) Organizing, (2) Planning/Scheduling/Budgeting, (3) Accounting Considerations, (4) Analysis and Management Reports, and (5) Revisions and Data Maintenance. The AACE EVP exam follows this structure, with Analysis being the largest domain (41 questions).

2A Control Account is BEST defined as:

A.The lowest level of the WBS where work is performed

B.The intersection of a WBS element and an OBS element where scope, schedule, and budget come together for performance measurement

C.A bank account for project payments

D.A risk register entry

Explanation: A Control Account (CA) is the natural management control point where scope, schedule, and budget are integrated for performance measurement. It sits at the intersection of a WBS element (what) and an OBS element (who). Each CA has a single Control Account Manager (CAM) responsible for its planning, execution, EV reporting, and forecasting.

3Planning Packages (PPs) within a Control Account contain:

A.Work that is currently being executed

B.Far-term scope that has not yet been decomposed into detailed work packages

C.Already-completed work

D.Risk reserves

Explanation: Planning Packages are future scope held at a higher level within the Control Account until they are decomposed into work packages (typically before the rolling-wave horizon). They carry budget but not detailed activity logic. As they near execution, PPs convert into WPs via planning-package rolling-wave decomposition.

4The Performance Measurement Baseline (PMB) is BEST defined as:

A.The contract value

B.The time-phased budget for all authorized work plus contingency for known-unknowns, excluding management reserve and undistributed budget that hasn't been allocated to control accounts

C.Actual cost incurred

D.The forecast EAC

Explanation: The Performance Measurement Baseline (PMB) is the time-phased budget against which performance is measured. It equals the sum of Control Account budgets plus any Summary Level Planning Packages (SLPPs) and Undistributed Budget (UB). It EXCLUDES Management Reserve (MR), which is held outside the PMB. PMB + MR = Total Allocated Budget (TAB), which should not exceed the Contract Budget Base (CBB).

5Earned Value (EV / BCWP) for a work package at a given status date is:

A.The actual cost charged to the work package

B.The budgeted value of the work that has actually been completed in the work package, computed per the applicable earned value technique

C.The total budget at completion

D.The remaining budget

Explanation: Earned Value (EV / BCWP - Budgeted Cost of Work Performed) is the budgeted value of work actually completed. It is determined by the earned value TECHNIQUE assigned to the work package (e.g., 50/50, 0/100, weighted milestones, percent complete, units complete, apportioned effort, LOE). EV is independent of actual cost (AC) and planned dates (PV).

6Which percent-complete technique credits work as 50% at start and 50% at finish, with NO intermediate credit?

A.0/100

B.50/50

C.Weighted milestones

D.Apportioned effort

Explanation: The 50/50 technique credits 50% of the work package's budget at start and 50% at completion. It is an objective rule for short-duration work packages where intermediate progress is hard to measure objectively. 0/100 credits all at completion; weighted milestones credit at named milestones; apportioned effort ties EV to another work package.

7Level of Effort (LOE) earned value technique:

A.Earns EV equal to AC each reporting period (so SPI = 1 and CPI = 1 by definition for LOE work)

B.Earns 50% at start, 50% at finish

C.Earns 100% at start

D.Earns based on physical progress

Explanation: LOE accounts (project management, contract administration, security) earn EV equal to the PLANNED value each period — there is no physical 'product' to measure. As a result, LOE accounts ALWAYS show CV=0 and SV=0 by construction. Excessive LOE in a baseline is a red flag because it inflates apparent performance.

8Apportioned Effort earned value technique applies to:

A.Stand-alone discrete work

B.Effort that has a direct, supporting relationship to another discrete (base) work package and earns EV in proportion to the base's EV

C.Project management overhead

D.Material purchases

Explanation: Apportioned Effort (AE) ties EV to a 'base' discrete work package. Typical examples: inspection work apportioned to production; quality assurance apportioned to manufacturing. AE EV = (AE budget / Base budget) x Base EV. If the base is over/under budget, the AE follows proportionally.

9Cost Performance Index (CPI) and Schedule Performance Index (SPI) at a given status date are:

A.CPI = AC/EV; SPI = PV/EV

B.CPI = EV/AC; SPI = EV/PV

C.CPI = EV/PV; SPI = EV/AC

D.CPI = AC/PV; SPI = PV/AC

Explanation: CPI = EV / AC (cost efficiency: value earned per dollar spent). SPI = EV / PV (schedule efficiency: value earned per dollar planned). Both have EV in the numerator. CPI > 1 = under budget; SPI > 1 = ahead of schedule (in dollar terms). At project completion, SPI always = 1.0 even if the project finished late (a known weakness addressed by Earned Schedule).

10Estimate at Completion (EAC) using the formula EAC = BAC / CPI assumes:

A.Performance to date is a one-off and won't continue

B.Current cost performance (CPI) will continue for the rest of the project

C.The schedule has no influence on cost

D.Management reserve will be released

Explanation: EAC = BAC / CPI (equivalently EAC = AC + (BAC-EV)/CPI) projects that the current CPI will continue. This is the most common EAC formula and the default assumption when there's no special reason to believe performance will change. Other EACs assume specific behavior changes (one-off variances, cost+schedule effects, etc.).

About the AACE EVP Exam

The AACE Earned Value Professional (EVP) is a professional-level certification for practitioners specializing in earned value management. The exam is closed-book, 5 hours, with 119 multiple-choice and scenario questions plus a memo writing assignment, covering the seven domains of EVMS practice: Organizing (control accounts, WBS/OBS, RAM, IBR), Planning/Scheduling/Budgeting (PMB, IMS, work authorization), Budgeting, Account Considerations (cost accounting integration), Analysis and Management Reports (the largest domain at ~34% - CPI/SPI/EAC/TCPI/VAC formulas, variance analysis, IPMR/IPMDAR), Revisions and Data Maintenance (baseline change control, OTB), and Communication (memo). Eligibility requires 8 years of industry-related experience OR 4 years experience plus a 4-year degree. Aligned with ANSI/EIA-748 EVMS standard.

Assessment

120 items total: 119 multiple-choice and compound scenario questions + 1 memo writing assignment, closed book

Time Limit

5 hours

Passing Score

70% overall (average across domains)

Exam Fee

$525 AACE members / $690 non-members (AACE International)

AACE EVP Exam Content Outline

12.6%

Organizing

15 questions covering Work Breakdown Structure (WBS), Organizational Breakdown Structure (OBS), Responsibility Assignment Matrix (RAM), Control Account (CA) definition as WBS x OBS intersection, Control Account Manager (CAM) responsibilities, Work Packages (WPs) vs Planning Packages (PPs), Integrated Baseline Review (IBR), and vertical/horizontal traceability of cost and schedule data.

13.4%

Planning, Scheduling, and Budgeting

16 questions on Performance Measurement Baseline (PMB), Time-phased budgets, Integrated Master Schedule (IMS) and Integrated Master Plan (IMP), Work Authorization Documents (WADs), Contract Budget Base (CBB = NCC + AUW), Total Allocated Budget (TAB = PMB + MR), Authorized Unpriced Work (AUW), Management Reserve (MR) and Contingency, Undistributed Budget (UB), Summary Level Planning Packages (SLPPs), and Subcontract EVMS flowdown.

12.6%

Budgeting Duties

15 questions on detailed budgeting at the Control Account and Work Package level, time-phasing of PV across the schedule, selection and application of Earned Value techniques (0/100, 50/50, weighted milestones, percent complete with documented criteria, units complete, apportioned effort with base relationship, level of effort), and budget log discipline.

10.9%

Account Considerations

13 questions on Cost accounting integration with EVMS, direct vs indirect cost handling, indirect cost rate variance, material commitment vs receipt vs invoice timing (material EV typically credited at receipt), labor cost recording at the same level as budgeted, ANSI/EIA-748 Guideline 17 cost recording requirements, and handling of mis-charges via journal entry.

34.5%

Analysis and Management Reports

41 questions (the largest domain) on EVMS formulas (CPI=EV/AC, SPI=EV/PV, CV=EV-AC, SV=EV-PV), Estimate at Completion (EAC = BAC/CPI; EAC = AC + (BAC-EV); EAC = AC + (BAC-EV)/(CPI x SPI)), To-Complete Performance Index (TCPI(BAC)=(BAC-EV)/(BAC-AC); TCPI(EAC)=(BAC-EV)/(EAC-AC)), Variance at Completion (VAC=BAC-EAC), Variance Analysis Reports (VARs) with thresholds, root-cause analysis, trend analysis, Christensen CPI stability rule (post-20% complete CPI rarely improves > 10pp without intervention), Earned Schedule (ES = time-based SV/SPI by Walt Lipke), Independent EACs (IEACs) by customer surveillance, BCWS/BCWP/ACWP legacy terminology, IPMR/IPMDAR formats 1-7, DCMA 14-Point Schedule Assessment including BEI (Baseline Execution Index) and CPLI (Critical Path Length Index).

15.9%

Revisions and Data Maintenance

19 questions on Baseline change control discipline, External Replanning (customer/contract-driven) vs Internal Replanning (contractor-driven within CBB), Over Target Baseline (OTB) when TAB exceeds CBB and customer approval required, Over Target Schedule (OTS), Budget Log maintenance and audit trail, EVMS Surveillance Reviews and Compliance Reviews, Notice of Concern (NOC) and Corrective Action Request (CAR), self-assessments, rubber baseline anti-pattern, and preservation of historical baseline for traceability.

0.8%

Communication

1 memo writing assignment requiring the candidate to compose a structured written memo to a defined audience (e.g., Program Manager) addressing a specific EVMS analysis scenario - typically variance analysis with root cause, EAC implication, and recommended corrective actions. Demonstrates ability to translate EVMS data into management-actionable narrative.

How to Pass the AACE EVP Exam

What You Need to Know

Passing score: 70% overall (average across domains)
Assessment: 120 items total: 119 multiple-choice and compound scenario questions + 1 memo writing assignment, closed book
Time limit: 5 hours
Exam fee: $525 AACE members / $690 non-members

Keys to Passing

Complete 500+ practice questions
Score 80%+ consistently before scheduling
Focus on highest-weighted sections
Use our AI tutor for tough concepts

AACE EVP Study Tips from Top Performers

1Master the ANSI/EIA-748 structure: 32 guidelines organized into 5 process groups - Organizing (5), Planning/Scheduling/Budgeting (10), Accounting Considerations (6), Analysis and Management Reports (6), Revisions and Data Maintenance (5). The AACE EVP exam domains map closely to these process groups.

2Memorize the budget hierarchy identity: CBB = NCC + AUW (Contract Budget Base = Negotiated Contract Cost + Authorized Unpriced Work). TAB = PMB + MR (Total Allocated Budget = Performance Measurement Baseline + Management Reserve). TAB <= CBB normally; TAB > CBB = OTB (Over Target Baseline) requiring customer approval.

3Drill EVMS formulas until automatic. EV always in numerator. CPI = EV/AC; SPI = EV/PV; CV = EV - AC; SV = EV - PV; EAC = BAC/CPI (cost continues); EAC = AC + (BAC-EV) (one-off); EAC = AC + (BAC-EV)/(CPI x SPI) (cost AND schedule continue); TCPI(BAC) = (BAC-EV)/(BAC-AC); TCPI(EAC) = (BAC-EV)/(EAC-AC); VAC = BAC - EAC.

4Memorize the EV techniques and their use cases: 0/100 (most conservative, short WPs), 50/50 (smooth cash flow, short WPs), weighted milestones (longer WPs with discrete milestones), percent complete with documented criteria (moderate subjectivity), units complete (repetitive work), apportioned effort (tied to a base WP's EV proportion), level of effort (no measurable product - PM, contract admin). LOE EV=PV by definition (so SPI=1.0 always).

5Understand the difference between Contingency (known-unknowns, INSIDE PMB, PM-controlled) and Management Reserve (unknown-unknowns, OUTSIDE PMB, program-controlled). MR usage requires baseline update; contingency usage is captured within CA forecasts.

6Learn the OTB process cold: when TAB > CBB, contractor must notify customer, justify, secure approval, execute contract modification, and re-baseline. OTB is a last-resort restoration of meaningful performance measurement after major overruns. Rubber baselining (silent re-baselining to match actuals) is a serious EVMS deficiency.

7Know Christensen's CPI stability finding: after a project is ~20% complete, cumulative CPI rarely improves by more than 10 percentage points without major corrective action. This underpins skepticism toward optimistic EACs and supports IEAC challenges by surveillance teams.

8Memorize the IPMR/IPMDAR format structure (Format 1 WBS data, Format 2 OBS data, Format 3 baseline changes, Format 4 staffing, Format 5 narrative analysis, Format 6 schedule, Format 7 supporting data). DoD programs submit monthly per contract DI specs. Reporting discipline is a surveillance focus area.

9Practice the memo writing component. Standard structure: BLUF opening (purpose, audience), structured body (data presented, variance analysis, root cause), conclusion (specific recommendations with owners and dates). Practice on at least 5 different scenarios (cost overrun, schedule slip, scope change, OTB request, IBR finding, etc.).

10Schedule 2-3 full-length 5-hour timed mock exams in the last 4 weeks. Treat the memo seriously - it carries weight in the overall pass/fail. Most EVP failures are time-management failures on the MCQs (which leaves no time for the memo) plus underdeveloped formula recall.

Frequently Asked Questions

What is the AACE EVP certification?

The Earned Value Professional (EVP) is AACE International's professional-level credential for earned value management specialists. It validates expertise in ANSI/EIA-748 EVMS application, including baseline development (PMB), performance measurement (CPI/SPI), forecasting (EAC/TCPI), variance analysis, IPMR/IPMDAR reporting, and baseline change control. EVPs typically work on major U.S. DoD, DOE, NASA, or large commercial programs that require EVMS compliance.

What are the EVP eligibility requirements?

Candidates need 8 years of industry-related experience OR 4 years of experience plus a 4-year industry-related degree. They must adhere to AACE's Canons of Ethics and submit a completed application. Experience should demonstrate hands-on EVMS practice (planning, executing, reporting, or auditing earned value management systems).

How is the EVP exam structured?

The EVP exam is a closed-book 5-hour computer-based test with 119 multiple-choice and compound scenario questions plus 1 memo writing assignment. Content covers seven domains aligned to ANSI/EIA-748 process groups: Organizing (15 questions), Planning/Scheduling/Budgeting (16), Budgeting Duties (15), Account Considerations (13), Analysis and Management Reports (41 - the largest), Revisions and Data Maintenance (19), and Communication (1 memo). A battery-operated calculator is permitted (candidate-provided).

What is the EVP passing score?

AACE requires an overall average score of 70% or higher, calculated by averaging individual domain scores. Both the MCQ score and the memo writing score factor into the overall result. Detailed scoring breakdown is generally Pass/Fail without per-domain disclosure.

How much does the EVP exam cost?

The EVP application/exam fee is $525 for AACE members and $690 for non-members. A resit fee of $260 applies if you need to retake. All fees are non-refundable and due upon application. AACE membership is approximately $185 annually for full members. Costs are subject to change; verify on aacei.org.

How does the EVP differ from the AACE CCP?

The CCP is broader - covering the entire AACE Total Cost Management framework (10 domains spanning estimating, economics, scheduling, EVM, risk, procurement, quality). The EVP is specialized - focused intensively on EVMS per ANSI/EIA-748. Many practitioners earn the EVP for major U.S. government program work and the CCP for senior-level total-cost-management leadership; both credentials complement each other.

How long should I study for the EVP?

Most candidates dedicate 120-200 hours over 4-7 months. Primary study resources: AACE EVP Study Guide (3rd edition), ANSI/EIA-748 standard, AACE Skills & Knowledge of Cost Engineering, NDIA/PMI EVM Practice Standards. Practice questions on EVMS formulas, EV techniques, baseline structures (PMB/CBB/TAB), and IPMR formats are essential. Practice the memo writing component on multiple scenarios.

How do I maintain the EVP certification?

EVP certification is valid for 3 years. Recertification requires accumulating 12 Continuing Education Units (CEUs) across a minimum of two categories, or re-examination. AACE accepts coursework, conference attendance, teaching, publishing, and professional service for CEU credit. Track CEUs throughout the 3-year cycle to avoid late-cycle scrambles.

100+ Free AACE EVP Practice Questions

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