ACAP Study Guide 2026

Everything you need to pass the ACAP exam in one place: the exam format, every topic to study, real practice questions with explanations, flashcards, and full-length practice tests. Free, no sign-up needed.

📋 ACAP Exam Format at a Glance

100

Questions

120 min

Time Limit

70.00%

Passing Score

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📚 ACAP Topics to Study (23)

Estimation and Analysis · 11 cards Qualifications · 11 cards Earned Value Management · 7 cards Earned Value Management · 7 cards Earned Value Management · 7 cards Cost Estimating Methodologies · 6 cards Cost Estimating Methodologies · 6 cards Cost Estimating Methodologies · 6 cards Cost Risk and Uncertainty Analysis · 6 cards Cost Risk and Uncertainty Analysis · 6 cards Cost Risk and Uncertainty Analysis · 6 cards Data Collection and Management · 6 cards Data Collection and Management · 6 cards Data Collection and Management · 6 cards Defense Acquisition and Cost Policy · 6 cards Defense Acquisition and Cost Policy · 6 cards Defense Acquisition and Cost Policy · 6 cards Economic Analysis and Life Cycle Costing · 6 cards Economic Analysis and Life Cycle Costing · 6 cards Economic Analysis and Life Cycle Costing · 6 cards Program and Budget Management · 6 cards Program and Budget Management · 6 cards Program and Budget Management · 6 cards

✍️ Sample ACAP Questions & Answers

1. What is a 'data call' in Army cost analysis?

✓ A formal request sent to program offices or contractors to collect specific cost and technical data needed for an estimate

A data call is a structured request that specifies exactly what information is needed, in what format, and by what date, ensuring consistent and complete data collection.

2. 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

OMB Circular A-94 specifies a 7% real discount rate as the base case for cost-benefit analysis of federal investments, reflecting the opportunity cost of capital in the private sector.

3. What is the purpose of a 'cost model validation' in Army cost analysis?

✓ To verify that the cost model produces accurate results by testing it against known historical data and comparing its outputs to actuals

Validation checks whether the model's predictions match actual historical outcomes, providing confidence that it will produce reliable estimates for new programs.

4. What is the Estimate to Complete (ETC) in EVM, and how does it relate to EAC?

✓ ETC is the expected cost to finish remaining work; EAC = AC + ETC

ETC is the expected cost to complete all remaining work; adding actual costs to date (AC) yields the Estimate at Completion (EAC).

5. What is 'depreciation' in the context of Army economic analysis, and is it typically included in DoD life cycle cost estimates?

✓ Depreciation is the reduction in asset value over time; it is generally NOT included in DoD LCC estimates because the focus is on cash outlays, not accounting entries

DoD cost estimates focus on budget authority and outlays (cash costs) rather than accounting depreciation, which is an accrual concept not relevant to budget planning.

6. What is the key difference between 'then-year' dollars and 'base-year' dollars in Army cost data management?

✓ Then-year dollars include the effects of inflation to the year costs will actually be incurred; base-year dollars remove inflation to a fixed reference year

Converting between then-year and base-year requires applying inflation indices; base-year dollars enable comparison across programs while then-year dollars are needed for budget submissions.

🎯 Free ACAP Practice Tests

Estimation and Analysis · 11 questions Qualifications · 11 questions Earned Value Management · 7 questions Earned Value Management · 7 questions Earned Value Management · 7 questions Cost Risk and Uncertainty Analysis · 6 questions Data Collection and Management · 6 questions Cost Risk and Uncertainty Analysis · 6 questions Cost Risk and Uncertainty Analysis · 6 questions Cost Estimating Methodologies · 6 questions

📖 ACAP Guides & Articles

Your ACAP Study Path

1. Learn with Flashcards → 2. Drill Practice Tests → 3. Take the Full Exam Simulation

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