Test your basic knowledge |

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






2. A document stating the procedures to be followed by bidders.






3. Explain firm price contracting estimates.






4. What are the advantages to a small contractor of renting equipment instead of owning?






5. What are the benefits of renting equipment?






6. Name three common methods of procuring equipment.






7. What unit of time is used to measure labor?






8. The assembly of components to form the completed portion of a job.






9. Describe and provide examples of specific use equipment and general use equipment.






10. Order of Magnitude Estimate...






11. What is estimating in construction?






12. Construction estimating is more an art than a science






13. Name 10 step process to bid

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14. Under what conditions are wage premiums applied






15. Why do many contractors hesitate to bid just before the expiration of a union contract?






16. A good database of past project experiences is essential to preparing a quick and accurate estimate.






17. A surety bond guaranteeing that a bidder will sign a contract - if offered - in accordance with their proposal.






18. A bathroom sink






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






20. A good database of past project experiences is essential to preparing a quick and accurate estimate.






21. Assemblies Estimate...






22. 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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23. A list prepared by the architect or engineer of the contractor's uncompleted work or work to be corrected.






24. The location where material can be stored in relationship to the construction project affects productivity.






25. The most reliable productivity rates come from historical data






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






27. Where the project will be constructed does not have a major influence in the preparation of an estimate.






28. Explain why using overtime is not recommended for most construction projects.






29. How does insurance differ from a surety bond?






30. Explain firm price contracting estimates.






31. 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






32. What does the labor hour represent?






33. An invitation to a selected list of contractors furnishing information on the submission of bids on a subject.






34. What is the bid bond and how does it protect the owner?






35. What is the performance bond?






36. Describe factors affecting the accuracy of detail cost estimating.






37. How are the various surety bonds that may be required on a specific project obtained?






38. A document stating the procedures to be followed by bidders.






39. How does insurance differ from a surety bond?






40. Describe the composition of the Building Cost Index (BCI).






41. What is the maintenance bond?






42. 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.






43. What is the performance bond?






44. Order of Magnitude Estimate...






45. Explain why using overtime is not recommended for most construction projects.






46. What are some of the costs that must be included in equipment operating costs?






47. Operation costs include...






48. What is depreciation?






49. Name two systems that establish standards for the building design/construction estimating process.






50. List the factors affecting labor productivity