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Here are sample AACE International Certified Cost Professional (CCP) (CCP) Exam questions from real exam. You can get more AACE International CCP Certification (CCP) Exam premium practice questions at TestInsights.
Question 1
A used concrete pumping truck can be purchased for $125,000. The operation costs are expected to be $65,000 the first year and increase 5% each year thereafter. As a result of the purchase, the company will see an increase in income of $100,000 the first year and 5% more each subsequent year. The company uses straight-line depreciation. The truck will have a useful life of five (5) years and no salvage value. Management would like to see a 10% return on any investment. The company's tax rate is 28%.
Student will receive scholarship when the GPA is within top 2%. The mean GPA is 2.8 and standard deviation is 0.5.
How high must the GPA be to qualify for the scholarship?
Correct : A
To find the GPA that qualifies for the top 2%, we use the inverse of the standard normal distribution (Z-table). The Z-score corresponding to the top 2% is approximately 2.05. Given the mean GPA is 2.8 with a standard deviation of 0.5, we calculate the threshold GPA as follows:
GPA=+Z=2.8+2.050.5=2.8+1.025=3.62\text{GPA} = \mu + Z \times \sigma = 2.8 + 2.05 \times 0.5 = 2.8 + 1.025 = 3.62GPA=+Z=2.8+2.050.5=2.8+1.025=3.62
Thus, a GPA of 3.62 is needed to qualify for the scholarship.
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Question 2
Which of the following is a common technique to approximate the standard deviation?
Correct : A
A common technique to approximate the standard deviation, especially in cases where you only have access to the range of data, is to use the formula Range/4. This method provides a rough estimate of the standard deviation when the data distribution is approximately normal.
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Question 3
A used concrete pumping truck can be purchased for $125,000. The operation costs are expected to be $65,000 the first year and increase 5% each year thereafter. As a result of the purchase, the company will see an increase in income of $100,000 the first year and 5% more each subsequent year. The company uses straight-line depreciation. The truck will have a useful life of five (5) years and no salvage value. Management would like to see a 10% return on any investment. The company's tax rate is 28%.
Costs which are independent of the system throughout are:
Correct : D
Fixed costs are costs that remain constant regardless of the level of production or business activity. These costs are independent of the system throughout and do not fluctuate with the amount of goods or services produced. In contrast, variable costs change in proportion to the level of production or business activity. Therefore, the correct answer is D. fixed costs.
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Question 4
A used concrete pumping truck can be purchased for $125,000. The operation costs are expected to be $65,000 the first year and increase 5% each year thereafter. As a result of the purchase, the company will see an increase in income of $100,000 the first year and 5% more each subsequent year. The company uses straight-line depreciation. The truck will have a useful life of five (5) years and no salvage value. Management would like to see a 10% return on any investment. The company's tax rate is 28%.
Which numerical method of describing quantitative data is best suited in targeted marketing?
Correct : B
In targeted marketing, the mode is often the best measure of central tendency because it identifies the most frequently occurring value in a data set. This can be crucial in marketing to determine the most common preferences or behaviors among a target audience, such as the most popular product size, color, or price point. Therefore, the correct answer is B. Mode.
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Question 5
A used concrete pumping truck can be purchased for $125,000. The operation costs are expected to be $65,000 the first year and increase 5% each year thereafter. As a result of the purchase, the company will see an increase in income of $100,000 the first year and 5% more each subsequent year. The company uses straight-line depreciation. The truck will have a useful life of five (5) years and no salvage value. Management would like to see a 10% return on any investment. The company's tax rate is 28%.
SCENARIO: A can manufacturing company requested you to provide data for their decision making. The unit prices of the can vary but an average selling price of $0.55 cents and average cost of $0.45 cents is estimated.
The monthly fixed costs are:
Rent-SI .600
Wages - $4.000
Miscellaneous fixed expenses - $500
Marketing team observed that factory can safely increase their unit selling price to S0.60 cents. The new break even units for the sales based on new contribution margin will be:
Correct : D
To determine the new breakeven point in units, we first calculate the new contribution margin:
ContributionMarginperUnit=NewSalePriceCostofItem=0.600.45=0.15\text{Contribution Margin per Unit} = \text{New Sale Price} - \text{Cost of Item} = 0.60 - 0.45 = 0.15ContributionMarginperUnit=NewSalePriceCostofItem=0.600.45=0.15
Next, calculate the total fixed costs:
TotalFixedCosts=1,600+4,000+500=6,100\text{Total Fixed Costs} = 1,600 + 4,000 + 500 = 6,100TotalFixedCosts=1,600+4,000+500=6,100
Finally, calculate the breakeven point in units:
BreakevenPoint(Units)=TotalFixedCostsContributionMarginperUnit=6,1000.15=40,667units\text{Breakeven Point (Units)} = \frac{\text{Total Fixed Costs}}{\text{Contribution Margin per Unit}} = \frac{6,100}{0.15} = 40,667 \text{ units}BreakevenPoint(Units)=ContributionMarginperUnitTotalFixedCosts=0.156,100=40,667units
Rounding to the nearest practical unit number, the correct answer is D. 40,000 units.
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