Free AACE AACE-CEP Exam Questions

Become AACE Certified with updated AACE-CEP exam questions and correct answers

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Total 297 Questions | Updated On: Jun 16, 2026

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Question 1

In a manufacturing operation, at 100 percent of capacity, annual costs are as follows: Fixed expenses $5,203,440Variable expenses $7,091,040Semi-variable expenses $6,217,750Sales $26,385,480Given that semi-variable expenses at zero production equal 30% of such expenses at 100% of capacity, the respective shutdown and break-even points would be:

A : 12.5% shutdown point and 36.6% break-even point

B : Cannot be determined from the given information

C : 47.3% shutdown point and 12.5% break-even point

D : 12.5% shutdown point and 47.3% break-even point

Answer: D

Question 2

The operating cost in the first year is $100,000. Escalation is expected to be 3% per year. What is the estimated operating cost in the fifth year?

A : $112,551

B : $112,000

C : $100,000

D : $115,000

Answer: A

Question 3

A budget estimate is typically but not always a Class-----estimate.

A : 1

B : 5

C : 4

D : 3

Answer: D

Question 4

Which of the following is not an element of the cost of a project?

A : Freight

B : Material waste

C : Material

D : Esteem value

Answer: D

Question 5

If you suspect a contractor’s bid estimate is unbalanced, which of the following best describes what to look for in an estimate review?

A : Errors and omissions concentrated in only a few elements of the work breakdown or cost account structure

B : Items that will be purchased or installed early and seem to have very high cost values

C : Extremely high escalation costs, particularly for those items installed later in the project schedule

D : Allowances for overtime that on balance appear to be excessive

Answer: B

Page: 1 / 60

Total 297 Questions | Updated On: Jun 16, 2026

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