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Ccifp final exam newest 2025 actual exam bJ bJ bJ bJ bJ bJ
complete questions and correct detailed
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answers bJ
Name: Score:
271 Multiple choice questions
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Definition 1 of 271
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establish fairness, competitive pay, directs workactivity, controls payrollcosts, complies with laws and
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regulations, achieves efficiency
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b J seven methods of cost reduction
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b J four principles of performance management
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b J six objectives of a base pay program
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b J five strategies for employee engagement
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Definition 2 of 271 bJ bJ
performance obligation and payemntsto underlying contractors forlaborand materials provided
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b J
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b J main characteristic of a LAN
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b J IRS twenty factor test relates to
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b J ASC 605 recommends that back charges be recorded:
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b J third party corporate guarantee is for the
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Term
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retention onsubcontractorpayablesisrequiredto be
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e/total
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Material
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bJ net worth (total stockholders' equity)
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3 of 271
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b J course of performance, course of dealing, usage of trade
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b J facts and circumstances known at the end of the contract year
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b J disclosed because it may not be paid out soon
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Material
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Definition 4 of 271
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thepremiumsare determinedbythetypeofconstructioninvolvedandbytheamountofthe
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b J what is an earnings credit bJ bJ bJ bJ
b J Section 179 cannot be used to bJ bJ bJ bJ bJ
b J sliding scale bond means that bJ bJ bJ bJ
b J the PCM assumes that both parties
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Definition 5 of 271
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anything that triggers consumption of resources
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b J ISO stands for bJ bJ
b J return on equity formula bJ bJ bJ
b J a cost driver is
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b J claims are amounts bJ bJ
Term 6 of 271
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working capitalturnover bJ J
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b J all of the costs are absorbed by the units produced
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b J gross revenue / (current assets - current liabilities)
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b J revenue; contract costs bJ bJ
b J hierarchical and relational (more preferable type) bJ b J b J b J b J
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Material
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Term 7 of 271
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bid bondsare used whena project is
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b J surety
b J identify and analyze potential risk exposures
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b J b J any liability assumed, pollution, property damage, professional liability
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b J bid
Term 8 of 271
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types of guarantees bJ bJ
b premium is computed at the beginning of the
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b J b J any liability assumed, pollution, property damage, professional liability
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b J fixed price/lump sum, time and material, cost-type, unit price
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b J unlimited, joint and several, limited or proportionate, time
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Definition 9 of 271
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Insurance Services Office bJ bJ
b J performance bond bJ
b J S Corps are limited to
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b J ISO stands for bJ bJ
b J indemnification clauses bJ
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