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


2. A list prepared by the architect or engineer of the contractor's uncompleted work or work to be corrected.
Punch List
Foundation
Scheduling overtime for more than several weeks can result in huge productivity losses.
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above


3. A document stating the procedures to be followed by bidders.
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
Erection
The amount of work that can be done in an hour


4. 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
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.
Both extreme hot and cold will tend to slow down the pace of work.
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


5. Explain firm price contracting estimates.
Bid Bond
Lump-Sum Estimate - Unit Price Estimate
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor
Direct Negotiation - Competitive Bidding


6. Legal claims against an owner for amounts due those engaged in or supplying materials for the construction of the building.
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.
Liens
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 ability to procure the right piece of equipment for the job when the unit is needed


7. Describe the composition of the Building Cost Index (BCI).
Liens
...
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.
Skilled labor and material portions


8. How does insurance differ from a surety bond?
The Labor Hour
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.
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.
Bid


9. Closely spaced beams supporting a floor or ceiling.They may be wood - steel - or concrete.
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.
Joist
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project


10. 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.
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
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.


11. What is the best source for productivity data?

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12. What types of information are provided in the Invitation to Bid?
False
Erection
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
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire


13. What is the payment bond?
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.
Invitation to bid
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


14. Name 10 step process to bid

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15. What is estimating in construction?
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.


16. What is estimating in construction?
As-built drawings
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
Erection
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project


17. 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.
Instruction to bidders
True
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above


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


19. stimating labor requires determining the number of work hours to do a specific task and then applying the wage rate.
Punch List
True
The ability to procure the right piece of equipment for the job when the unit is needed
Skilled labor and material portions


20. What is the payment bond?
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. 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
Instruction to bidders


21. Assemblies Estimate...
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.
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


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. Proposal prepared by prospective contractor specifying the charges to be made for doing the work in accordance with the contract documents.
False
Bid
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions


24. Name 10 step process to bid

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


26. Working drawings - specifications - general conditions - supplementary general conditions - the owner-contractor agreement - and all addenda (if issued).
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.
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
Contract Documents


27. 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
Punch List
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
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.


28. Name three common methods of procuring equipment.
Liquidated Damages
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
Renting - Leasing - Buying
Liens


29. 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
Bid Bond
Renting - Leasing - Buying
...
Change Order


30. What is the best source for productivity data?

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31. The equipment used on construction projects can be divided into three categories: Owned - leased - and rented.
Master Format and Uniformat
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.
True
Both extreme hot and cold will tend to slow down the pace of work.


32. Describe the composition of the Construction Cost Index (CCI).
...
Common labor and material portions
Lump-Sum Estimate - Unit Price 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


33. What does the labor hour represent?
Retainage
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
As-built drawings
The amount of work that can be done in an hour


34. How are the various surety bonds that may be required on a specific project obtained?
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. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
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


35. A list prepared by the architect or engineer of the contractor's uncompleted work or work to be corrected.
True
Punch List
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
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs


36. What is depreciation?
Bid Bond
True
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


37. An invitation to a selected list of contractors furnishing information on the submission of bids on a subject.
Erection
Instruction to bidders
A gross unit such as the number of hospital beds is used.
Invitation to bid


38. A sum withheld from each payment to the contractor in accordance with the terms of the owner-contractor agreement.
Skilled labor and material portions
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
Retainage
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire


39. 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
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. 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


40. List the factors affecting labor productivity
Contract Documents
Master Format and Uniformat
True
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions


41. Why do many contractors hesitate to bid just before the expiration of a union contract?
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.
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
Bid Bond
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.


42. 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.
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.
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
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.


43. A bathroom sink
Lavatory
Master Format and Uniformat
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.
Bid


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


45. What unit of time is used to measure labor?
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.
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
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above


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


47. Operation costs include...
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
Internal Factor - External Factor - Project Related-Factor
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


48. 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 loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
Direct Negotiation - Competitive Bidding
Liquidated Damages
Joist


49. Operation costs include...
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.
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
Joist
Erection


50. The location where material can be stored in relationship to the construction project affects productivity.
Punch List
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 estimator uses more detailed information such as the bay size - square feet of partition wall - number of plumbing fixtures - or square feet of carpet.
True