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. Why do many contractors hesitate to bid just before the expiration of a union contract?
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 estimator uses more detailed information such as the bay size - square feet of partition wall - number of plumbing fixtures - or square feet of carpet.
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.
Internal Factor - External Factor - Project Related-Factor


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


3. The most reliable productivity rates come from historical data
Direct Negotiation - Competitive Bidding
True
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.


4. A bathroom sink
Joist
False
Lavatory
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.


5. Legal claims against an owner for amounts due those engaged in or supplying materials for the construction of the building.
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
Liens
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.
Scheduling overtime for more than several weeks can result in huge productivity losses.


6. Explain why using overtime is not recommended for most construction projects.
Scheduling overtime for more than several weeks can result in huge productivity losses.
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
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.
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors


7. The substructure that supports a building or other structure.
True
True
Renting - Leasing - Buying
Foundation


8. A sum withheld from each payment to the contractor in accordance with the terms of the owner-contractor agreement.
Retainage
Master Format and Uniformat
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions


9. On certain projects the owner may accept proposals only from contractors who are invited 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
True
The Labor Hour
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps


10. Construction estimating is more an art than a science
Liquidated Damages
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
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
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.


11. What are some of the costs that must be included in equipment operating costs?
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
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.
Punch List
Skilled labor and material portions


12. Describe factors affecting the accuracy of detail cost estimating.
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
True
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


13. 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 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.
A gross unit such as the number of hospital beds is used.
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.


14. Closely spaced beams supporting a floor or ceiling.They may be wood - steel - or concrete.
Punch List
Joist
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps


15. Explain firm price contracting estimates.
Liens
Lump-Sum Estimate - Unit Price Estimate
Master Format and Uniformat
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps


16. The information provided in the General Conditions and Supplementary General Conditions does not influence the project cost.
False
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
The Labor Hour
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence


17. Name 10 step process to bid

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18. Drawings made during the progress of construction - or subsequent thereto - illustrating how various elements of the project were actually installed.
The amount of work that can be done in an 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.
As-built drawings
Skilled labor and material portions


19. What types of information are provided in the Invitation to Bid?
True
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
Both extreme hot and cold will tend to slow down the pace of work.
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


20. A surety bond guaranteeing that a bidder will sign a contract - if offered - in accordance with their proposal.
Bid Bond
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
True
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire


21. Name 10 step process to bid

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


23. Why do many contractors hesitate to bid just before the expiration of a union contract?
The amount of work that can be done in an hour
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.
Foundation
True


24. Name two systems that establish standards for the building design/construction estimating process.
Both extreme hot and cold will tend to slow down the pace of work.
Master Format and Uniformat
The Labor Hour
Punch List


25. Five basic skills everyone should master

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26. 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
...
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
Retainage
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps


27. Where would information be found on whether a bid bond was required and - if so - its amount?
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.
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
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 bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.


28. What is depreciation?
...
Addenda
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
Renting - Leasing - Buying


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


30. Name the types of Estimates
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
Erection
Direct Negotiation - Competitive Bidding


31. Name the types of Estimates
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
Punch List
...


32. Under what conditions are wage premiums applied
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
Skilled labor and material portions
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire


33. How do climatic conditions influence the amount of work actually completed in an hour?
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
Both extreme hot and cold will tend to slow down the pace of work.
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate


34. What is the best source for productivity data?

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35. 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.
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 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.


36. On certain projects the owner may accept proposals only from contractors who are invited to bid.
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
True
Invitation to bid
Retainage


37. Describe the composition of the Building Cost Index (BCI).
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps
Internal Factor - External Factor - Project Related-Factor
Skilled labor and material portions
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.


38. What is the best source for productivity data?

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39. 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.
Addenda
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.
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.


40. What are some of the factors a contractor considers when making a decision to 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.
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.
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.


41. What unit of time is used to measure labor?
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
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 Labor Hour
False


42. Drawings made during the progress of construction - or subsequent thereto - illustrating how various elements of the project were actually installed.
True
Lump-Sum Estimate - Unit Price Estimate
The Labor Hour
As-built drawings


43. The information provided in the General Conditions and Supplementary General Conditions does not influence the project cost.
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.
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
As-built drawings
False


44. What does the labor hour represent?
The amount of work that can be done in an hour
True
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.
Punch List


45. The equipment used on construction projects can be divided into three categories: Owned - leased - and rented.
False
As-built drawings
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.


46. A document stating the procedures to be followed by bidders.
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.
Instruction to bidders
The ability to procure the right piece of equipment for the job when the unit is needed


47. Under what conditions are wage premiums applied
Master Format and Uniformat
True
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.


48. The substructure that supports a building or other structure.
Foundation
Lump-Sum Estimate - Unit Price 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.
Common labor and material portions


49. Assemblies Estimate...
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 Labor Hour
Erection
...


50. List the factors affecting labor productivity
The Labor Hour
Invitation to bid
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.
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions