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Construction Estimating

Instructions:

Answer 50 questions in 15 minutes.
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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. Describe the composition of the Construction Cost Index (CCI).
Master Format and Uniformat
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
Common labor and material portions
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.

2. A list prepared by the architect or engineer of the contractor's uncompleted work or work to be corrected.
Internal Factor - External Factor - Project Related-Factor
Contract Documents
Addenda
Punch List

3. A list prepared by the architect or engineer of the contractor's uncompleted work or work to be corrected.
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
Punch List
Internal Factor - External Factor - Project Related-Factor
False

4. Name two systems that establish standards for the building design/construction estimating process.
Master Format and Uniformat
Joist
Joist
...

5. What is the maintenance bond?
Change Order
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 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.
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.

6. On certain projects the owner may accept proposals only from contractors who are invited to bid.
True
Joist
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
As-built drawings

7. What are the two most common methods by which a contractor can acquire a construction contract?
Direct Negotiation - Competitive Bidding
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
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
Joist

8. Name the types of Estimates
Erection
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
False

9. 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.
Instruction to bidders
The amount of work that can be done in an hour
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence

10. Working drawings - specifications - general conditions - supplementary general conditions - the owner-contractor agreement - and all addenda (if issued).
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
Contract Documents
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project

11. Legal claims against an owner for amounts due those engaged in or supplying materials for the construction of the building.
Master Format and Uniformat
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
Liens

12. The equipment used on construction projects can be divided into three categories: Owned - leased - and rented.
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.
True
Instruction to bidders

13. Name the types of Estimates
...
Invitation to bid
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence

14. Why do many contractors hesitate to bid just before the expiration of a union contract?
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps
Addenda
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.
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.

15. How do climatic conditions influence the amount of work actually completed in an hour?
Erection
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
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
Both extreme hot and cold will tend to slow down the pace of work.

16. What are the benefits of renting equipment?
The ability to procure the right piece of equipment for the job when the unit is needed
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
Instruction to bidders
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

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
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.
Liquidated Damages
Contract Documents
Skilled labor and material portions

18. Closely spaced beams supporting a floor or ceiling.They may be wood - steel - or concrete.
The Labor Hour
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
Joist
Internal Factor - External Factor - Project Related-Factor

19. What is depreciation?
Direct Negotiation - Competitive Bidding
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
As-built drawings
Both extreme hot and cold will tend to slow down the pace of work.

20. What are some of the costs that must be included in equipment operating costs?
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
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.
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs

21. What is the payment bond?
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.
As-built drawings
Joist

22. Explain why using overtime is not recommended for most construction projects.
Both extreme hot and cold will tend to slow down the pace of work.
Scheduling overtime for more than several weeks can result in huge productivity losses.
Change Order
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.

23. Under what conditions are wage premiums applied
Renting - Leasing - Buying
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
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.

24. What is the payment bond?
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.
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.
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.

25. How do climatic conditions influence the amount of work actually completed in an hour?
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
Instruction to bidders
Both extreme hot and cold will tend to slow down the pace of work.
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence

26. Five basic skills everyone should master

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27. What unit of time is used to measure labor?
Both extreme hot and cold will tend to slow down the pace of work.
Joist
The Labor Hour
Contract Documents

28. 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.
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor
Erection
Instruction to bidders

29. Proposal prepared by prospective contractor specifying the charges to be made for doing the work in accordance with the contract documents.
Internal Factor - External Factor - Project Related-Factor
Bid
False
The amount of work that can be done in an hour

30. 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
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
Skilled labor and material portions
...
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.

31. Why do many contractors hesitate to bid just before the expiration of a union contract?
Both extreme hot and cold will tend to slow down the pace of work.
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
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

32. What is retainage? Why should a contractor be concerned with a retainage clause in a contract?
True
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
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.
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.

33. Order of Magnitude Estimate...
A gross unit such as the number of hospital beds is used.
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.
Change Order
Liquidated Damages

34. Assemblies Estimate...
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.
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors
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.
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.

35. What unit of time is used to measure labor?
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
The Labor Hour
The ability to procure the right piece of equipment for the job when the unit is needed
Bid

36. Describe the composition of the Construction Cost Index (CCI).
True
Change Order
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
Common labor and material portions

37. What is the best source for productivity data?

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38. An invitation to a selected list of contractors furnishing information on the submission of bids on a subject.
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
Change Order
Invitation to bid

39. On certain projects the owner may accept proposals only from contractors who are invited to bid.
Skilled labor and material portions
Change Order
True
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate

40. Where the project will be constructed does not have a major influence in the preparation of an estimate.
The ability to procure the right piece of equipment for the job when the unit is needed
Bid Bond
False
As-built drawings

41. A sum withheld from each payment to the contractor in accordance with the terms of the owner-contractor agreement.
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.
Retainage
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.
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.

42. 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
A gross unit such as the number of hospital beds is used.
False
Renting - Leasing - Buying
...

43. The location where material can be stored in relationship to the construction project affects productivity.
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
Internal Factor - External Factor - Project Related-Factor
As-built drawings
True

44. What are the difficulties encountered by the estimator during the preparation of a project's conceptual estimate?
Joist
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
True

45. A good database of past project experiences is essential to preparing a quick and accurate 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
True
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
Both extreme hot and cold will tend to slow down the pace of work.

46. Five basic skills everyone should master

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47. stimating labor requires determining the number of work hours to do a specific task and then applying the wage rate.
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
True
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.

48. Describe factors affecting the accuracy of detail cost estimating.
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.
Scheduling overtime for more than several weeks can result in huge productivity losses.
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
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs

49. What does the labor hour represent?
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
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 amount of work that can be done in an hour
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.

50. What are some of the factors a contractor considers when making a decision to bid?
Internal Factor - External Factor - Project Related-Factor
The Labor Hour
True
True