CCIFP EXAM QUESTIONS AND
ANSWERS 2026 VERIFIED.
Areas of dispute broad claim categories - ANS delays, disruption, changes in scope, changed
conditions, termination
Contractor Damages Formula - ANS Actual Cost + Profit + OH - Owner Payments
Construction Manager acts as a what to owner? - ANS Business consultant to owner
Primary Methods of resolving claims - ANS arbitration, litigation, combined
mediation/arbitration, neutral evaluation, litigation
Three Principles of contract interpretation - ANS course of performance, course of dealing,
usage of trade
force majure - ANS excusable delay
Most common types of exculpatory clauses - ANS inspection, familiarity of work, no damage
for delay
strict liability definition - ANS eliminates requirement that a plaintiff needs to prove
negligence and intentional conduct
@2026/2027 ALLRIGHTS RESERVED.
,Who bears the risk in unit price contracts - ANS contractor
Eichleay Formula is used for calculating - ANS home office overhead costs
Little Miller acts mandate - ANS surety bonds when tax dollars are involved
exculpatory clauses - ANS excuse owner from responsibility for increased costs resulting from
unforeseen circumstances; absolves party from responsibility of their own actions
consequential damages do not - ANS ordinarily flow directly from breach of contract
indemnification clauses - ANS holds a party harmless
what resolves indemnification - ANS risk insurance
Federal Procurement Policy Act prohibits certain parties from: - ANS disclosing bid or
proposal information before the award of a federal contract
apparent authority relates to what type of contract - ANS non-governmental
contracting officer relates to what type of contract - ANS governmental
commonly used accounting methods for JVs: - ANS full consolidation, partial consolidation,
equity, expanded equity, cost method
S Corps are limited to - ANS one type of stock
competitve bid contracts are used when - ANS owners are primarily concerned with price
@2026/2027 ALLRIGHTS RESERVED.
, discrete approach is also known as - ANS actual cost approach
approaches for calculating contractor damages - ANS total cost, modified total cost,
estimated cost approach, discrete approach
types of privitatization of governmental functions - ANS asset transfer, contracting out,
divesiture of functions, leasing of factilities
80-90% of claims fall into which category - ANS scope changes
Miller Act requires performance bonds on governmental contracts for contracts over: -
ANS $100,000
Considerations for cost plus GMP contract - ANS scope, shared savings, cost overruns, cost
underruns
Four types of contracts - ANS fixed price/lump sum, time and material, cost-type, unit price
two rules established by FASB related to employee benefits - ANS pension plans and post
retirement benefits
financial manager's responsibilities to employers - ANS representative, treasury, reporting
what is a fiduciary - ANS person exercising discretionary authority or control over the
management of a plan
what are actual conflicts - ANS financial manager receives compensation or other benefits
that haven't been approved by owners
@2026/2027 ALLRIGHTS RESERVED.
ANSWERS 2026 VERIFIED.
Areas of dispute broad claim categories - ANS delays, disruption, changes in scope, changed
conditions, termination
Contractor Damages Formula - ANS Actual Cost + Profit + OH - Owner Payments
Construction Manager acts as a what to owner? - ANS Business consultant to owner
Primary Methods of resolving claims - ANS arbitration, litigation, combined
mediation/arbitration, neutral evaluation, litigation
Three Principles of contract interpretation - ANS course of performance, course of dealing,
usage of trade
force majure - ANS excusable delay
Most common types of exculpatory clauses - ANS inspection, familiarity of work, no damage
for delay
strict liability definition - ANS eliminates requirement that a plaintiff needs to prove
negligence and intentional conduct
@2026/2027 ALLRIGHTS RESERVED.
,Who bears the risk in unit price contracts - ANS contractor
Eichleay Formula is used for calculating - ANS home office overhead costs
Little Miller acts mandate - ANS surety bonds when tax dollars are involved
exculpatory clauses - ANS excuse owner from responsibility for increased costs resulting from
unforeseen circumstances; absolves party from responsibility of their own actions
consequential damages do not - ANS ordinarily flow directly from breach of contract
indemnification clauses - ANS holds a party harmless
what resolves indemnification - ANS risk insurance
Federal Procurement Policy Act prohibits certain parties from: - ANS disclosing bid or
proposal information before the award of a federal contract
apparent authority relates to what type of contract - ANS non-governmental
contracting officer relates to what type of contract - ANS governmental
commonly used accounting methods for JVs: - ANS full consolidation, partial consolidation,
equity, expanded equity, cost method
S Corps are limited to - ANS one type of stock
competitve bid contracts are used when - ANS owners are primarily concerned with price
@2026/2027 ALLRIGHTS RESERVED.
, discrete approach is also known as - ANS actual cost approach
approaches for calculating contractor damages - ANS total cost, modified total cost,
estimated cost approach, discrete approach
types of privitatization of governmental functions - ANS asset transfer, contracting out,
divesiture of functions, leasing of factilities
80-90% of claims fall into which category - ANS scope changes
Miller Act requires performance bonds on governmental contracts for contracts over: -
ANS $100,000
Considerations for cost plus GMP contract - ANS scope, shared savings, cost overruns, cost
underruns
Four types of contracts - ANS fixed price/lump sum, time and material, cost-type, unit price
two rules established by FASB related to employee benefits - ANS pension plans and post
retirement benefits
financial manager's responsibilities to employers - ANS representative, treasury, reporting
what is a fiduciary - ANS person exercising discretionary authority or control over the
management of a plan
what are actual conflicts - ANS financial manager receives compensation or other benefits
that haven't been approved by owners
@2026/2027 ALLRIGHTS RESERVED.
