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 and provide examples of specific use equipment and general use equipment.
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
A gross unit such as the number of hospital beds is used.
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps


2. The information provided in the General Conditions and Supplementary General Conditions does not influence the project cost.
...
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.
True
False


3. What is estimating in construction?
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
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed 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


4. What are the advantages to a small contractor of renting equipment instead of owning?
Both extreme hot and cold will tend to slow down the pace of work.
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 ability to procure the right piece of equipment for the job when the unit is needed
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


5. Name three common methods of procuring equipment.
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.
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
Renting - Leasing - Buying


6. What are some of the factors a contractor considers when making a decision to bid?
Renting - Leasing - Buying
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 loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
Internal Factor - External Factor - Project Related-Factor


7. What types of information are provided in the Invitation to Bid?
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
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
Liquidated Damages
Liens


8. 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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9. What are the two most common methods by which a contractor can acquire a construction contract?
Renting - Leasing - Buying
Change Order
False
Direct Negotiation - Competitive Bidding


10. Where would information be found on whether a bid bond was required and - if so - its amount?
As-built drawings
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
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.
Lavatory


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. What is the bid bond and how does it protect the owner?
Retainage
The Labor Hour
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
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs


13. What is the maintenance bond?
Bid Bond
The Labor Hour
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.
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor


14. On certain projects the owner may accept proposals only from contractors who are invited to bid.
Liquidated Damages
False
The Labor Hour
True


15. A bathroom sink
Joist
Lavatory
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.
Liquidated Damages


16. Order of Magnitude Estimate...
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.
Renting - Leasing - Buying
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
A gross unit such as the number of hospital beds is used.


17. stimating labor requires determining the number of work hours to do a specific task and then applying the wage rate.
True
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
As-built drawings
Invitation to bid


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


19. The information provided in the General Conditions and Supplementary General Conditions does not influence the project cost.
Foundation
Lavatory
Joist
False


20. What is retainage? Why should a contractor be concerned with a retainage clause in a contract?
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
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
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.
Addenda


21. Construction estimating is more an art than a science
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
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
Bid
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.


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


23. What is estimating in construction?
False
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
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.
False


24. What types of information are provided in the Invitation to Bid?
False
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
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.
Bid Bond


25. 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
As-built drawings
Liquidated Damages
Addenda
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs


26. Proposal prepared by prospective contractor specifying the charges to be made for doing the work in accordance with the contract documents.
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.
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
...
Bid


27. Five basic skills everyone should master

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28. A document stating the procedures to be followed by bidders.
Instruction to bidders
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors
Scheduling overtime for more than several weeks can result in huge productivity losses.
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.


29. Drawings made during the progress of construction - or subsequent thereto - illustrating how various elements of the project were actually installed.
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 estimator uses more detailed information such as the bay size - square feet of partition wall - number of plumbing fixtures - or square feet of carpet.
As-built drawings


30. What is depreciation?
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
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


31. Legal claims against an owner for amounts due those engaged in or supplying materials for the construction of the building.
Foundation
Liquidated Damages
Liens
Internal Factor - External Factor - Project Related-Factor


32. What does the labor hour represent?
The Labor Hour
Retainage
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
The amount of work that can be done in an hour


33. A list prepared by the architect or engineer of the contractor's uncompleted work or work to be corrected.
True
Punch List
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
Bid Bond


34. Where the project will be constructed does not have a major influence in the preparation of an estimate.
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
Bid Bond
Scheduling overtime for more than several weeks can result in huge productivity losses.
False


35. What is the performance bond?
Change Order
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.
False
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.


36. 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
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 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
False


37. 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.
A gross unit such as the number of hospital beds is used.
Contract Documents
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above


38. Name 10 step process to bid

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39. Describe and provide examples of specific use equipment and general use equipment.
Addenda
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
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor


40. Drawings made during the progress of construction - or subsequent thereto - illustrating how various elements of the project were actually installed.
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
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


41. What is the bid bond and how does it protect the owner?
Bid Bond
Internal Factor - External Factor - Project Related-Factor
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


42. A bathroom sink
Lavatory
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
Master Format and Uniformat
As-built drawings


43. 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.
Bid
The Labor Hour
Skilled labor and material portions


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


45. What is the best source for productivity data?

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46. What is the best source for productivity data?

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47. How does insurance differ from a surety bond?
Erection
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.
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
True


48. Explain firm price contracting estimates.
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.
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
Lump-Sum Estimate - Unit Price Estimate
Bid Bond


49. 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
...
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
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.
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.


50. 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.
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.
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
Addenda
Scheduling overtime for more than several weeks can result in huge productivity losses.