Free CCIFP Knowledge Questions and Answers

Question 1

Areas of focus in the construction industry are?

Accepted Answer

All of the above

Question 2

Control over ______________ are necessary to provide for adequate documentation, clerical verification, overall review of estimated costs and approval of all bids by the appropriate levels of management.

Accepted Answer

Project Administration and Contract Valuation

Question 3

Timely and reliable progress, cost and status reports on each contract are essential for management to evaluate the status and profitability of each project and to identify problems at an early stage.

Accepted Answer

Project Administration and Contact Valuation

Question 4

A contactor uses information on _________ incurred to control costs, evaluate the status and profitability of contracts, and prepare customer billings. They are also necessary in the determination of revenue when the percentage-of-completion approach is utilized.

Accepted Answer

Contract Cost

Question 5

There necessary to provide reasonable assurance that such items are properly documented and provide for the accumulated of related revenues and costs.

Accepted Answer

Claims, Extras and Back Charges

CCIFP - Certified Construction Industry Financial Professional Practice Test

CCIFP - Certified Construction Industry Financial Professional Practice Test

Free CCIFP Knowledge Questions and Answers