CCP Cheat Sheet 2026

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

1. What is a cost control system in project financial management? → A system for tracking and managing project costs.
2. What should be included in a project’s budget baseline? → Planned costs and contingency reserves.
3. What fiduciary duty applies to tax strategies? → Act in the client's best interest with loyalty, care, and full disclosure
4. What is the benefit of using parametric estimating for cost estimation? → It provides accurate estimates based on quantitative data.
5. Liquidated damages (LDs) in a construction contract are best described as: → Pre-agreed damages per day of delay that substitute for actual damages proof
6. Which EVM baseline combines scope, schedule, and cost and is used to measure project performance? → Performance Measurement Baseline (PMB)
7. Life Cycle Cost (LCC) analysis in engineering economics encompasses: → All costs from acquisition through disposal over the asset's entire life
8. Acceleration of a construction project becomes a compensable claim when: → The owner directs faster completion without granting an entitled time extension
9. What fiduciary duty applies to client relations? → Act in the client's best interest with loyalty, care, and full disclosure
10. What regulatory compliance requirement applies to investment analysis? → Full compliance with all applicable federal, state, and industry regulations
11. The Budgeted Cost of Work Performed (BCWP) is another name for which EVM metric? → Earned Value (EV)
12. How should risk be assessed in investment analysis? → Evaluate risk tolerance, capacity, time horizon, and investment objectives systematically
13. Which of the following is the correct sequence for processing a formal change order in project cost management? → Identify change → Estimate cost impact → Negotiate → Execute change order
14. Why is continuous risk monitoring essential in cost management? → To identify and address risks before they impact the project’s finances.
15. What continuing education requirement supports tax strategies competence? → Ongoing education in regulatory changes, market developments, and best practices
16. Which discount rate makes the Net Present Value (NPV) of a project exactly equal to zero? → The Internal Rate of Return (IRR)
17. According to the Fisher equation, how does inflation affect the relationship between nominal and real rates of return? → The real rate of return is lower than the nominal rate when inflation is positive
18. What fiduciary duty applies to investment analysis? → Act in the client's best interest with loyalty, care, and full disclosure
19. How should risk be assessed in estate planning? → Evaluate risk tolerance, capacity, time horizon, and investment objectives systematically
20. How do project financial managers ensure the project stays within budget? → By implementing corrective actions when needed.
21. What is the purpose of a project budget? → To ensure that costs are controlled and project objectives are met.
22. A contractor submits a Request for Equitable Adjustment (REA) primarily to: → Recover additional cost and/or time caused by government-directed changes or actions
23. What regulatory compliance requirement applies to estate planning? → Full compliance with all applicable federal, state, and industry regulations
24. How should risk be assessed in regulatory compliance? → Evaluate risk tolerance, capacity, time horizon, and investment objectives systematically
25. What is the Minimum Attractive Rate of Return (MARR) in engineering economic analysis? → The minimum return threshold an organization requires before accepting an investment
26. What does Net Present Value (NPV) represent in project economic analysis? → The present value of all future cash inflows minus the present value of all cash outflows
27. How should estate planning performance be reported to clients? → Provide accurate, complete, and timely performance reporting with appropriate benchmarks
28. What is the Present Worth Factor (P/F, i%, n) formula used in engineering economics? → 1 / (1 + i)^n
29. How should risk be assessed in portfolio management? → Evaluate risk tolerance, capacity, time horizon, and investment objectives systematically
30. What fiduciary duty applies to financial planning? → Act in the client's best interest with loyalty, care, and full disclosure