Free AACE AACE-CEP Practice Exam Questions and Answers 2026

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Total 297 Questions | Updated On: Apr 03, 2026

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Question 1

External workshop moderators have all the following advantages except:

A : Big projects justify an external moderator

B : External moderators are in a better position to perform workshop follow-up

C : External moderators are a member of the project team

D : External moderators can be objective in the implementation of the risk workshop

Answer: C

Question 2

A common explanation of differences between two estimates is:

A : The estimator has made a mistake

B : Different estimating software was used in preparation of the two estimates

C : The estimates were prepared at different points in time

D : A change has been made in the scope of the project

Answer: D

Question 3

The Budgeted Cost of Work Performed is equal to the product of budget for the account and what other multiplier?

A : The labor wage rate

B : Float

C : Percent complete

D : Productivity

Answer: C

Question 4

An information-gathering technique that is not used in risk identification is:

A : Development of Risk Management Plans

B : Expert Opinion

C : Brainstorming

D : Questionnaire surveys

Answer: A

Question 5

With respect to Risk Assessment Analysis, identify a false statement from below:

A : Risk assessment scores should receive appropriate analysis after the conclusion of the identification meetings if there is a question of accuracy

B : Qualitative risk analysis is the assignment of subjective values to risk management items

C : Considerations should be made to identify the formation of the risk management team

D : Risk management of small projects may benefit from a three point scale

Answer: C

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Total 297 Questions | Updated On: Apr 03, 2026

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