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. Operation costs include...
Bid
The CSI format is a numbering system which divides the major areas involved in the construction project into 50 divisions (0 to 49). The format allows the contractor to develop a tracking system for all types of information.
Retainage
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above


2. Statements or drawings that modify the basic contract documents after the latter have been issued to the bidders - but prior to the taking of bids.
Addenda
With insurance an insurance company assumes the financial liability fora specified loss.The surety guarantees the performance of a contractor.The surety company will try to recover any losses from the contractor.
True
The ability to procure the right piece of equipment for the job when the unit is needed


3. Closely spaced beams supporting a floor or ceiling.They may be wood - steel - or concrete.
Lavatory
Punch List
Joist
The ability to procure the right piece of equipment for the job when the unit is needed


4. A document stating the procedures to be followed by bidders.
True
The maintenance bond guarantees the owner that the GC agrees to correct all defects of workmanship and materials for a specified period (one to three years) following occupancy by the owner.
Instruction to bidders
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence


5. Name 10 step process to bid

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6. A list prepared by the architect or engineer of the contractor's uncompleted work or work to be corrected.
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors
Joist
Punch List
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.


7. The information provided in the General Conditions and Supplementary General Conditions does not influence the project cost.
False
...
The maintenance bond guarantees the owner that the GC agrees to correct all defects of workmanship and materials for a specified period (one to three years) following occupancy by the owner.
...


8. What are the difficulties encountered by the estimator during the preparation of a project's conceptual estimate?
Both extreme hot and cold will tend to slow down the pace of work.
Bid Bond
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor
The payment bond (labor and material bond) guarantees the payment of all bills incurred by the contractor for labor and materials incurred or supplied on the project.


9. What are the difficulties encountered by the estimator during the preparation of a project's conceptual estimate?
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor
The ability to procure the right piece of equipment for the job when the unit is needed
There may be hesitation to bid a project just before the expiration of a union agreement due to the uncertainty of the outcomes of the negotiations. There is the possibility of a strike or dramatic increases in the prevailing wage rate.
Bid


10. What is the best source for productivity data?

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11. What are some of the costs that must be included in equipment operating costs?
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
Scheduling overtime for more than several weeks can result in huge productivity losses.
True


12. A good database of past project experiences is essential to preparing a quick and accurate estimate.
Both extreme hot and cold will tend to slow down the pace of work.
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
Lavatory
True


13. Describe the composition of the Construction Cost Index (CCI).
True
Common labor and material portions
Bid
1. Better understanding of the work to be subcontracted -2. Establishment of fair cost estimate for evaluating subcontractor's bid - 3. Checking of a subcontractor's scope of work - and4. Determination of time duration that can be assigned to a sub


14. Where the project will be constructed does not have a major influence in the preparation of an estimate.
False
True
Erection
The estimator uses more detailed information such as the bay size - square feet of partition wall - number of plumbing fixtures - or square feet of carpet.


15. What types of information are provided in the Invitation to Bid?
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
Master Format and Uniformat
Generally - the advertisement describes the location - extent - and nature of the work. It will designate the authority under which the project originated. Concerning the bid - it will give the place where bidding documents are available and list the
Master Format and Uniformat


16. A bathroom sink
False
Lump-Sum Estimate - Unit Price Estimate
Lavatory
The CSI format is a numbering system which divides the major areas involved in the construction project into 50 divisions (0 to 49). The format allows the contractor to develop a tracking system for all types of information.


17. Describe and provide examples of specific use equipment and general use equipment.
False
The maintenance bond guarantees the owner that the GC agrees to correct all defects of workmanship and materials for a specified period (one to three years) following occupancy by the owner.
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors


18. 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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19. Describe and provide examples of specific use equipment and general use equipment.
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps
Foundation
Surety bonds can only be obtained through companies who specialize in issuing surety bonds. The contractor will have to request the surety company to provide the bonds.
Skilled labor and material portions


20. Five basic skills everyone should master

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21. What is retainage? Why should a contractor be concerned with a retainage clause in a contract?
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
There may be hesitation to bid a project just before the expiration of a union agreement due to the uncertainty of the outcomes of the negotiations. There is the possibility of a strike or dramatic increases in the prevailing wage rate.
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
The practice of withholding a percentage of the payment due to the contractor for the work performed and completed for that payment period.Retainage can affect the cash flow of the contractor and must be considered in the preparation of the bid.


22. Drawings made during the progress of construction - or subsequent thereto - illustrating how various elements of the project were actually installed.
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
Bid Bond
As-built drawings
1. The contractor can get the most suitable piece of equipment.2. The equipment is most likely newer and in a better state of repair.3. The rental company handles maintenance.4. The contractor does not tie up their capital.


23. A sum withheld from each payment to the contractor in accordance with the terms of the owner-contractor agreement.
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor
True
Retainage
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.


24. Under what conditions are wage premiums applied
Lavatory
True
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.


25. Describe the CSI MasterFormat and how it is used.
1. The contractor can get the most suitable piece of equipment.2. The equipment is most likely newer and in a better state of repair.3. The rental company handles maintenance.4. The contractor does not tie up their capital.
Generally - the advertisement describes the location - extent - and nature of the work. It will designate the authority under which the project originated. Concerning the bid - it will give the place where bidding documents are available and list the
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps
The CSI format is a numbering system which divides the major areas involved in the construction project into 50 divisions (0 to 49). The format allows the contractor to develop a tracking system for all types of information.


26. How do climatic conditions influence the amount of work actually completed in an hour?
Both extreme hot and cold will tend to slow down the pace of work.
Master Format and Uniformat
The Labor Hour
True


27. Name two systems that establish standards for the building design/construction estimating process.
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
Instruction to bidders
Liens
Master Format and Uniformat


28. Under what conditions are wage premiums applied
Master Format and Uniformat
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
True
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.


29. Five basic skills everyone should master

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30. A bathroom sink
Change Order
Lavatory
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
The payment bond (labor and material bond) guarantees the payment of all bills incurred by the contractor for labor and materials incurred or supplied on the project.


31. Name the types of Estimates
Finding and bidding the type of work that's appropriate for your company - Making accurate cost estimates - Using pricing strategies that reduces your risk of loss - Anticipating the bids of your competition - Tracking overhead so you know the actual
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
1. Better understanding of the work to be subcontracted -2. Establishment of fair cost estimate for evaluating subcontractor's bid - 3. Checking of a subcontractor's scope of work - and4. Determination of time duration that can be assigned to a sub
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work


32. 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
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
Lump-Sum Estimate - Unit Price Estimate
The bid bond ensures that if a contractor is awarded the bid with the time specified - the contractor will enter into the contract and provide all other specified bonds.If the contractor fails to do so without justification -the bond shall be forfeit
Liquidated Damages


33. What is the best source for productivity data?

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34. 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
Both extreme hot and cold will tend to slow down the pace of work.
Liquidated Damages
True
Common labor and material portions


35. The substructure that supports a building or other structure.
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
Foundation
The bid bond ensures that if a contractor is awarded the bid with the time specified - the contractor will enter into the contract and provide all other specified bonds.If the contractor fails to do so without justification -the bond shall be forfeit
The estimator uses more detailed information such as the bay size - square feet of partition wall - number of plumbing fixtures - or square feet of carpet.


36. A common error made by GCs in their dealings with subcontractors is to hand them a single technical specifications section relating to their trade - without copies of either the General Requirements or the General and Supplementary General Conditions
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
...
False
True


37. Explain firm price contracting estimates.
The Labor Hour
True
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
Lump-Sum Estimate - Unit Price Estimate


38. Construction estimating is more an art than a science
The CSI format is a numbering system which divides the major areas involved in the construction project into 50 divisions (0 to 49). The format allows the contractor to develop a tracking system for all types of information.
1. Review scope 2. Quantity takeoff 3. Price materials 4. Price labor 5. Price equipment 6. Obtain specialty contractor's bid 7. Obtain supplier's bid 8. Calculate taxes - bonds - insurance - and overhead 9. Contingency 10. Profit
As-built drawings
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.


39. Explain why using overtime is not recommended for most construction projects.
The payment bond (labor and material bond) guarantees the payment of all bills incurred by the contractor for labor and materials incurred or supplied on the project.
Scheduling overtime for more than several weeks can result in huge productivity losses.
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
Lavatory


40. What are some of the factors a contractor considers when making a decision to bid?
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
The amount of work that can be done in an hour
The amount of work that can be done in an hour
Internal Factor - External Factor - Project Related-Factor


41. What is the payment bond?
The payment bond (labor and material bond) guarantees the payment of all bills incurred by the contractor for labor and materials incurred or supplied on the project.
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
Direct Negotiation - Competitive Bidding
Liens


42. Order of Magnitude Estimate...
The estimator uses more detailed information such as the bay size - square feet of partition wall - number of plumbing fixtures - or square feet of carpet.
True
True
A gross unit such as the number of hospital beds is used.


43. The assembly of components to form the completed portion of a job.
1. Better understanding of the work to be subcontracted -2. Establishment of fair cost estimate for evaluating subcontractor's bid - 3. Checking of a subcontractor's scope of work - and4. Determination of time duration that can be assigned to a sub
Erection
True
The payment bond (labor and material bond) guarantees the payment of all bills incurred by the contractor for labor and materials incurred or supplied on the project.


44. A surety bond guaranteeing that a bidder will sign a contract - if offered - in accordance with their proposal.
Bid Bond
True
The practice of withholding a percentage of the payment due to the contractor for the work performed and completed for that payment period.Retainage can affect the cash flow of the contractor and must be considered in the preparation of the bid.
1. The contractor can get the most suitable piece of equipment.2. The equipment is most likely newer and in a better state of repair.3. The rental company handles maintenance.4. The contractor does not tie up their capital.


45. Where the project will be constructed does not have a major influence in the preparation of an estimate.
Generally - the advertisement describes the location - extent - and nature of the work. It will designate the authority under which the project originated. Concerning the bid - it will give the place where bidding documents are available and list the
False
Retainage
The bid bond ensures that if a contractor is awarded the bid with the time specified - the contractor will enter into the contract and provide all other specified bonds.If the contractor fails to do so without justification -the bond shall be forfeit


46. Assemblies Estimate...
The estimator uses more detailed information such as the bay size - square feet of partition wall - number of plumbing fixtures - or square feet of carpet.
The amount of work that can be done in an hour
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
The practice of withholding a percentage of the payment due to the contractor for the work performed and completed for that payment period.Retainage can affect the cash flow of the contractor and must be considered in the preparation of the bid.


47. Working drawings - specifications - general conditions - supplementary general conditions - the owner-contractor agreement - and all addenda (if issued).
Liquidated Damages
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
Contract Documents
1. The contractor can get the most suitable piece of equipment.2. The equipment is most likely newer and in a better state of repair.3. The rental company handles maintenance.4. The contractor does not tie up their capital.


48. 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.
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
Change Order
The practice of withholding a percentage of the payment due to the contractor for the work performed and completed for that payment period.Retainage can affect the cash flow of the contractor and must be considered in the preparation of the bid.


49. An invitation to a selected list of contractors furnishing information on the submission of bids on a subject.
Invitation to bid
Joist
Bid
Addenda


50. 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.
Retainage
Internal Factor - External Factor - Project Related-Factor
Surety bonds can only be obtained through companies who specialize in issuing surety bonds. The contractor will have to request the surety company to provide the bonds.
Change Order