Question 1
In AACE terminology, which cost type is incurred even if no production occurs and does not vary with output volume?
Correct Answer:
Fixed cost
Question 2
An estimator includes the cost of the project manager's salary across all jobs. Per AACE, this is best classified as which type of cost?
Correct Answer:
Indirect (distributable) cost
Question 3
AACE Recommended Practice 18R-97 (Cost Estimate Classification — Process Industries) defines five estimate classes. Which class corresponds to the most preliminary, order-of-magnitude estimate with the lowest project definition?
Correct Answer:
Class 5
Question 4
An estimator scales the cost of a 100,000-bbl tank to estimate a 150,000-bbl tank using historical data and an exponent. Which estimating method is being used?
Correct Answer:
Parametric estimating
Question 5
Using the AACE PERT (beta-distribution) three-point formula with optimistic = 80, most likely = 100, pessimistic = 150, what is the expected duration?
Correct Answer:
105.0
Question 1
Exam overview

About this Exam

Prepare with the AACE CEP Certified Estimating Professional Practice Questions - AACE Certified Estimating Professional (CEP) Exam practice quiz. This question bank includes 100 questions covering cost, aace, estimate, estimator, and project. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

More details

Additional Information

AACE CEP Certified Estimating Professional Practice Questions - AACE Certified Estimating Professional (CEP) Exam

This practice set contains 100 questions from the matching question bank and focuses on cost, aace, estimate, estimator, and project. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

Quiz information

Frequently Asked Questions

The complete question count is available after full access is unlocked.
No fixed duration is currently configured for this quiz.
Question explanations are included where they are available in the quiz content, helping you review the reasoning after answering.
Yes. You can retake the practice test again as you continue studying during your available access period.
After your access is confirmed, you can continue into the complete practice exam from this quiz flow.
Unless explicitly stated otherwise, this page provides independent practice material for study and exam preparation and is not the official examination itself.
Keep studying

Related Questions