ACAP Cheat Sheet 2026

The 30 highest-yield ACAP facts, distilled from real exam questions. Print it, save it as a PDF, or study it here — free, no sign-up.

1. What discount rate does OMB Circular A-94 prescribe for most federal economic analyses of programs involving real costs and benefits? → 7% real discount rate
2. What does a 'tornado chart' display in cost risk analysis? → Ranked sensitivity of total cost to each individual input variable
3. Which distribution is most commonly used to represent a cost element's uncertainty when only minimum, most likely, and maximum values are known? → Triangular distribution
4. The Word Knowledge - Sample Question Hungry is the opposite of: → Full
5. How many guidelines does ANSI/EIA-748 define for a compliant Earned Value Management System? → 32
6. Under DFARS, which contract types and dollar threshold generally require a contractor to maintain a compliant Earned Value Management System (EVMS)? → Cost or incentive contracts with a value of $20 million or more
7. What does the Variance at Completion (VAC) formula calculate? → VAC = BAC - EAC
8. In cost risk terminology, what is 'aleatory uncertainty'? → Irreducible variability inherent to a process or system
9. Which Army document formally establishes the life cycle cost estimate used to support milestone decision reviews? → Program Life Cycle Cost Estimate (PLCCE)
10. What does Earned Value (EV), also called Budgeted Cost of Work Performed (BCWP), measure? → The budgeted amount for the work that has actually been completed
11. Which type of CSDR report captures recurring and non-recurring costs broken down by cost element and work breakdown structure? → Contractor Cost Data Report (CCDR)
12. Mitigates against the Blast, Penetration, Debris and Cratering effects of warheads → VT Fusing or air burst
13. What is the Performance Measurement Baseline (PMB)? → The time-phased budget plan against which project performance is measured
14. In EVM terminology, what does Planned Value (PV) — also called Budgeted Cost of Work Scheduled (BCWS) — represent? → The budgeted cost of work scheduled to be completed by a given date
15. Which DoD instruction establishes the primary policy framework for the defense acquisition system? → DoDI 5000.02 (Operation of the Adaptive Acquisition Framework)
16. Which Army regulation governs the collection, management, and reporting of cost data for Army acquisition programs? → AR 70-13 (Management and Oversight of Defense Acquisition Programs)
17. What are the four primary cost estimating methodologies recognized in DoD cost analysis? → Analogy, parametric, engineering build-up, and expert opinion
18. The new program was sanctioned by the board of education. You can replace the bold word with: → Authorized
19. Which DoD database is the primary repository for contractor cost and software data collected under CSDR reporting requirements? → DACIMS (Defense Automated Cost Information Management System)
20. Which Estimate at Completion (EAC) formula assumes current cost efficiency will continue for the remainder of the program? → EAC = BAC / CPI
21. What does CSDR stand for in DoD cost data reporting? → Cost and Software Data Reporting
22. What does an amperemeter measure? → The current
23. Mathematics - Sample Question 7.4 x 102 decimeters equal: → 7,400 centimeters
24. What does the Budget at Completion (BAC) represent in an EVM framework? → The total authorized budget for the entire program scope
25. In cost risk analysis, what does 'S-curve' represent? → Cumulative probability distribution of cost outcomes
26. What is the primary purpose of Earned Value Management (EVM) in defense acquisition programs? → To integrate cost, schedule, and technical performance measurement
27. What is the formula for the Schedule Performance Index (SPI)? → SPI = EV / PV
28. Which risk percentile does DoD policy typically require programs to budget to when using probabilistic cost estimates? → 80th percentile
29. In DoD cost risk analysis, what is the 'most likely cost' (MLC)? → The mode of the cost probability distribution
30. In EVM, what is Management Reserve (MR)? → Budget withheld from the PMB and held for unplanned but in-scope work