CCC Professional Ethics & Standards 2

Question 1

A cost consultant discovers a material error in an estimate already submitted to a client. According to AACE International's Canons of Ethics, what should the consultant do?

Accepted Answer

Promptly disclose the error to the client and correct it

Answer

Professional integrity requires prompt disclosure and correction of known material errors regardless of magnitude.

Question 2

A client asks a certified cost consultant to lower a contingency estimate to make a project appear more fundable. The consultant believes the original figure is accurate. What is the ethical response?

Accepted Answer

Decline to alter the estimate and explain the professional basis for it

Answer

Consultants must not misrepresent professional judgments to please clients; they should stand by defensible estimates and explain their basis.

Question 3

Under AACE ethical standards, a cost consultant may accept a commission from an equipment vendor whose products are specified in a project estimate only if:

Accepted Answer

The arrangement is fully disclosed to and accepted by the client

Answer

Conflicts of interest such as vendor commissions are permissible only with full disclosure to and consent of all affected parties.

Question 4

A cost consultant is asked to provide an expert opinion in litigation. Which practice violates professional ethics?

Accepted Answer

Accepting a fee contingent on the outcome of the case

Answer

Contingent fees for expert testimony compromise objectivity and are considered unethical for professional experts.

Question 5

A CCC-certified consultant learns that a colleague has been falsifying progress measurement data on a joint project. What is the appropriate first ethical step?

Accepted Answer

Address the issue through appropriate reporting channels within the organization

Answer

Ethics codes require reporting known professional misconduct through proper channels rather than ignoring or improperly publicizing it.

CCC Practice Test

CCC Practice Test

CCC Professional Ethics & Standards 2