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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. 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
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
Instruction to bidders
...
Lavatory

2. What is the maintenance bond?
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.
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
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.

3. stimating labor requires determining the number of work hours to do a specific task and then applying the wage rate.
Retainage
True
Contract Documents
Renting - Leasing - Buying

4. Working drawings - specifications - general conditions - supplementary general conditions - the owner-contractor agreement - and all addenda (if issued).
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors
Lavatory
Contract Documents
True

5. Why do many contractors hesitate to bid just before the expiration of a union contract?
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
Addenda
True
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.

6. Describe the CSI MasterFormat and how it is used.
Foundation
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
False
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.

7. An invitation to a selected list of contractors furnishing information on the submission of bids on a subject.
Invitation to bid
Foundation
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
A gross unit such as the number of hospital beds is used.

8. 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
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.
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
Liquidated Damages
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.

9. How does insurance differ from a surety bond?
Joist
Bid
True
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.

10. A bathroom sink
...
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.
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.

11. 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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12. Proposal prepared by prospective contractor specifying the charges to be made for doing the work in accordance with the contract documents.
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
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors
Bid
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.

13. 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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14. What are some of the factors a contractor considers when making a decision to bid?
Internal Factor - External Factor - Project Related-Factor
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
Addenda
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

15. A surety bond guaranteeing that a bidder will sign a contract - if offered - in accordance with their proposal.
Liens
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
Bid Bond
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.

16. What does the labor hour represent?
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.
False
The amount of work that can be done in an hour
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. Why do many contractors hesitate to bid just before the expiration of a union 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
Master Format and Uniformat
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.
True

18. The location where material can be stored in relationship to the construction project affects productivity.
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
True
Lump-Sum Estimate - Unit Price Estimate

19. What does the labor hour represent?
Change Order
The amount of work that can be done in an hour
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.

20. Assemblies Estimate...
Common labor and material portions
Invitation to bid
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 ability to procure the right piece of equipment for the job when the unit is needed

21. A list prepared by the architect or engineer of the contractor's uncompleted work or work to be corrected.
Change Order
Liquidated Damages
Punch List
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps

22. What is retainage? Why should a contractor be concerned with a retainage clause in a contract?
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
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.
Skilled labor and material portions
False

23. What is retainage? Why should a contractor be concerned with a retainage clause in a contract?
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.
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
Instruction to bidders

24. The equipment used on construction projects can be divided into three categories: Owned - leased - and rented.
True
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.
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor

25. Operation costs include...
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
Invitation to bid
True
As-built drawings

26. Drawings made during the progress of construction - or subsequent thereto - illustrating how various elements of the project were actually installed.
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.
Invitation to bid
As-built drawings
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.

27. Operation costs include...
Both extreme hot and cold will tend to slow down the pace of work.
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
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.
Contract Documents

28. The assembly of components to form the completed portion of a job.
The ability to procure the right piece of equipment for the job when the unit is needed
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.
Erection
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.

29. 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
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
Punch List
False

30. Five basic skills everyone should master

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31. 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.
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
True
Lavatory

32. What is the bid bond and how does it protect the owner?
Liens
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
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
The ability to procure the right piece of equipment for the job when the unit is needed

33. Describe the composition of the Building Cost Index (BCI).
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
Skilled labor and material portions
Renting - Leasing - Buying
Retainage

34. What types of information are provided in the Invitation to Bid?
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors
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
Contract Documents
Lavatory

35. Construction estimating is more an art than a science
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
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.
The Labor Hour

36. Describe the CSI MasterFormat and how it is used.
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.
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
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
Contract Documents

37. Order of Magnitude Estimate...
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
Internal Factor - External Factor - Project Related-Factor
Invitation to bid
A gross unit such as the number of hospital beds is used.

38. The location where material can be stored in relationship to the construction project affects productivity.
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor
Joist
True

39. A document stating the procedures to be followed by bidders.
The Labor Hour
Instruction to bidders
Bid Bond
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.

40. 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
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
Bid Bond
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.

41. What is depreciation?
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
Contract Documents
...
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence

42. 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.
Change Order
Bid Bond
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.

43. 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
Change Order
Foundation
A gross unit such as the number of hospital beds is used.

44. What is the best source for productivity data?

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45. A good database of past project experiences is essential to preparing a quick and accurate estimate.
True
Common labor and material portions
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
Bid Bond

46. Where the project will be constructed does not have a major influence in the preparation of an estimate.
True
A gross unit such as the number of hospital beds is used.
Lavatory
False

47. An invitation to a selected list of contractors furnishing information on the submission of bids on a subject.
Invitation to 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
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
True

48. Describe and provide examples of specific use equipment and general use equipment.
Renting - Leasing - Buying
True
Lump-Sum Estimate - Unit Price Estimate
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors

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

50. List the factors affecting labor productivity
Instruction to bidders
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
Addenda
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above