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CCIFP FINAL EXAM ACTUAL EXAM AND PRACTICE QUESTIONS EXAM COMPLETE QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) /ALREADY GRADED A+$0.00
10/13/24, 12:44 PM CCIFP FINAL EXAM 2024-2025 ACTUAL EXAM AND PRACTICE QUESTIONS EXAM COMPLETE QUESTIONS WITH DE…
CCIFP FINAL EXAM 2024-2025 ACTUAL EXAM
AND PRACTICE QUESTIONS EXAM COMPLETE
QUESTIONS WITH DETAILED VERIFIED
ANSWERS (100% CORRECT ANSWERS)
/ALREADY GRADED A+
Terms in this set (106)
What is the legal An agreement between 2 parties that is legally
definition of a contract? binding & enforceable under applicable law.
What is the IRS
definition?
1. Political
Strategic planning must
2. Regulatory
consider external factors.
3. Market Outlook
These factors change
4. Social
rapidly and are outside
5. Technology
the contractor control.
6. Economic
1. Culture, related to financial discipline, risk
tolerance, growth, and change
Strategic planning must
2. Life cycle stage
consider internal factors.
3. Comprehensive marketing strategy
These factors the
4. Core competencies
contractor can control.
5. Talent acquisition and retention programs
6. Commitment to technology
Major cause of The failure to plan and set specific objectives
contractor failure is
A logical and systematic process by which a
Strategic Planning contractor determines the strategic direction for the
contractor's future
, 10/13/24, 12:44 PM CCIFP FINAL EXAM 2024-2025 ACTUAL EXAM AND PRACTICE QUESTIONS EXAM COMPLETE QUESTIONS WITH DE…
Requires knowledge of the risks inherent in the
Strategic Planning construction industry and of available new business
opportunities
1. Assessment of your company's current condition
2. Examination of current business model and the
way you would like to do business in future
3. Development of new future operating methods in
Strategic Planning
estimating, preconstruction, marketing and sales
Process encourages
4. Commitment to set strategic goals and plans to
meet them
5. Creation of momentum necessary to start and
carry out the implementation of strategic plan
1. Occurrence Trigger - Whatever policy in place a
What are the 2 coverage the time of the claim happening is policy used.
triggers for CGL? 2. Claims Trigger - (Not used much) Made trigger
policy in place, Policy extended
What is the legal An agreement between two parties that is legally
definition of a contract? binding & enforceable under applicable law
What is the IRS's
definition of a contract?
Redundant array of Independent (or inexpensive)
disks.
- Data spread out over several disks, users access
What is RAID?
simultaneously.
- Normally used by servers in multi-user
environments
What is the disclosure on Estimated liability to complete contracts
the balance sheet for
anticipated losses on
contracts?
Contracts if 80% of the total contract costs are:
1) Dwelling units, 4 of fewer
What is the IRS's
2) Improvements directly related to such dwelling
definition of a "Home
units
Construction Contract"?
3) Excluded from IRC 460 - Special rules from long
term contracts
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