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. Describe the CSI MasterFormat and how it is used.
...
Direct Negotiation - Competitive Bidding
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.
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.


2. Where the project will be constructed does not have a major influence in the preparation of an estimate.
False
Bid Bond
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.
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project


3. Operation costs include...
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
Instruction to bidders
The amount of work that can be done in an hour
Punch List


4. Name 10 step process to bid

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5. What types of information are provided in the Invitation to Bid?
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
True
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
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions


6. Explain firm price contracting estimates.
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
Skilled labor and material portions
Skilled labor and material portions
Lump-Sum Estimate - Unit Price Estimate


7. Under what conditions are wage premiums applied
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.
True
Retainage
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.


8. What is the best source for productivity data?

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9. What is retainage? Why should a contractor be concerned with a retainage clause in a contract?
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 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.
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
Both extreme hot and cold will tend to slow down the pace of work.


10. Closely spaced beams supporting a floor or ceiling.They may be wood - steel - or concrete.
Joist
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.
Retainage
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.


11. Describe the composition of the Building Cost Index (BCI).
Skilled labor and material portions
Common labor and material portions
The Labor Hour
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.


12. Where would information be found on whether a bid bond was required and - if so - its amount?
Lump-Sum Estimate - Unit Price Estimate
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
Liquidated Damages


13. 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 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
True
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.


14. 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.
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
Addenda
Change Order
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.


15. A good database of past project experiences is essential to preparing a quick and accurate estimate.
Foundation
True
Joist
The amount of work that can be done in an hour


16. What is estimating in construction?
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
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.
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.
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project


17. The substructure that supports a building or other structure.
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
Foundation
A gross unit such as the number of hospital beds is used.
Change Order


18. What is depreciation?
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.
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.
Invitation to bid
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence


19. Explain why using overtime is not recommended for most construction projects.
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. 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 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.
Scheduling overtime for more than several weeks can result in huge productivity losses.


20. Working drawings - specifications - general conditions - supplementary general conditions - the owner-contractor agreement - and all addenda (if issued).
Invitation to bid
False
Joist
Contract Documents


21. The information provided in the General Conditions and Supplementary General Conditions does not influence the project cost.
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors
False
Lump-Sum Estimate - Unit Price Estimate
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.


22. What is the payment bond?
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 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.
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions


23. Assemblies Estimate...
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
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
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.


24. What are some of the factors a contractor considers when making a decision to bid?
Renting - Leasing - Buying
Internal Factor - External Factor - Project Related-Factor
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
Lavatory


25. 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 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
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


26. 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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27. The location where material can be stored in relationship to the construction project affects productivity.
True
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
Common labor and material portions
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.


28. Describe factors affecting the accuracy of detail cost estimating.
Renting - Leasing - Buying
True
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
The amount of work that can be done in an hour


29. What is retainage? Why should a contractor be concerned with a retainage clause in a contract?
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.
...
True
Common labor and material portions


30. Under what conditions are wage premiums applied
Change Order
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.


31. Describe factors affecting the accuracy of detail cost estimating.
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
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
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate


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


33. What are the difficulties encountered by the estimator during the preparation of a project's conceptual estimate?
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.
Lump-Sum Estimate - Unit Price Estimate
True
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor


34. What are the two most common methods by which a contractor can acquire a construction contract?
Master Format and Uniformat
Direct Negotiation - Competitive Bidding
False
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor


35. Describe the composition of the Building Cost Index (BCI).
Joist
Skilled labor and material portions
A gross unit such as the number of hospital beds is used.
...


36. What are the benefits of renting equipment?
False
The amount of work that can be done in an hour
The ability to procure the right piece of equipment for the job when the unit is needed
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps


37. The assembly of components to form the completed portion of a job.
Renting - Leasing - Buying
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.
Instruction to bidders
Erection


38. Describe and provide examples of specific use equipment and general use equipment.
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
True
The amount of work that can be done in an hour


39. The equipment used on construction projects can be divided into three categories: Owned - leased - and rented.
Erection
Bid Bond
True
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire


40. How does insurance differ from a surety bond?
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.
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.
Liquidated Damages
Liens


41. A bathroom sink
Lavatory
...
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.
Punch List


42. Legal claims against an owner for amounts due those engaged in or supplying materials for the construction of the building.
...
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.
A gross unit such as the number of hospital beds is used.
Liens


43. Five basic skills everyone should master

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44. A document stating the procedures to be followed by bidders.
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
Invitation to bid
As-built drawings
Instruction to bidders


45. 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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46. 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.
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps
False
The performance bond guarantees the owner that - within limits - the contractor will perform all work in accordance with the contract documents - and thatthe owner will receive the project built in substantialagreement with the documents.


47. 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
...
Contract Documents
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
Internal Factor - External Factor - Project Related-Factor


48. Closely spaced beams supporting a floor or ceiling.They may be wood - steel - or concrete.
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
Liens
Joist
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor


49. Explain why using overtime is not recommended for most construction projects.
Renting - Leasing - Buying
Scheduling overtime for more than several weeks can result in huge productivity losses.
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
False


50. 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
Bid Bond
False
Direct Negotiation - Competitive Bidding