Test your basic knowledge |

Construction Estimating

Instructions:
  • Answer 50 questions in 15 minutes.
  • If you are not ready to take this test, you can study here.
  • Match each statement with the correct term.
  • Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. What is the maintenance bond?






2. Assemblies Estimate...






3. A good database of past project experiences is essential to preparing a quick and accurate estimate.






4. What are some of the costs that must be included in equipment operating costs?






5. Order of Magnitude Estimate...






6. A document stating the procedures to be followed by bidders.






7. Explain firm price contracting estimates.






8. Name 10 step process to bid

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9. Where the project will be constructed does not have a major influence in the preparation of an estimate.






10. Why is it a good idea for the general contractor to perform quantity surveys on work that is to be subcontracted out?

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11. A list prepared by the architect or engineer of the contractor's uncompleted work or work to be corrected.






12. Explain firm price contracting estimates.






13. What are the advantages to a small contractor of renting equipment instead of owning?






14. A bathroom sink






15. Why is it a good idea for the general contractor to perform quantity surveys on work that is to be subcontracted out?

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16. Operation costs include...






17. An agreed-to sum chargeable against the contractor as reimbursement for damages suffered by the owner because of contractor's failure to fulfill contractual obligations






18. A document stating the procedures to be followed by bidders.






19. What is estimating in construction?






20. What are the two most common methods by which a contractor can acquire a construction contract?






21. What is the payment bond?






22. Describe and provide examples of specific use equipment and general use equipment.






23. Name the types of Estimates






24. What is the performance bond?






25. What is retainage? Why should a contractor be concerned with a retainage clause in a contract?






26. How does insurance differ from a surety bond?






27. A work order - usually prepared by the architect and signed by the owner or the owner's agent - authorizing a change in the scope of the work and a change in the cost of the project.






28. What is the performance bond?






29. The most reliable productivity rates come from historical data






30. Working drawings - specifications - general conditions - supplementary general conditions - the owner-contractor agreement - and all addenda (if issued).






31. Describe the composition of the Building Cost Index (BCI).






32. Legal claims against an owner for amounts due those engaged in or supplying materials for the construction of the building.






33. What are some of the factors a contractor considers when making a decision to bid?






34. How do climatic conditions influence the amount of work actually completed in an hour?






35. Order of Magnitude Estimate...






36. Assemblies Estimate...






37. What is the best source for productivity data?

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38. Under what conditions are wage premiums applied






39. A bathroom sink






40. A surety bond guaranteeing that a bidder will sign a contract - if offered - in accordance with their proposal.






41. What is the bid bond and how does it protect the owner?






42. What is estimating in construction?






43. A good database of past project experiences is essential to preparing a quick and accurate estimate.






44. Where would information be found on whether a bid bond was required and - if so - its amount?






45. Why do many contractors hesitate to bid just before the expiration of a union contract?






46. A work order - usually prepared by the architect and signed by the owner or the owner's agent - authorizing a change in the scope of the work and a change in the cost of the project.






47. Where would information be found on whether a bid bond was required and - if so - its amount?






48. The location where material can be stored in relationship to the construction project affects productivity.






49. The substructure that supports a building or other structure.






50. stimating labor requires determining the number of work hours to do a specific task and then applying the wage rate.