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. What is the payment bond?






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






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






4. Five basic skills everyone should master

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






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






7. What is estimating in construction?






8. The equipment used on construction projects can be divided into three categories: Owned - leased - and rented.






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






10. Construction estimating is more an art than a science






11. 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






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






13. Assemblies Estimate...






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






15. What are the benefits of renting equipment?






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






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






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






19. 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






20. 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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21. What is the performance bond?






22. Name the types of Estimates






23. What is estimating in construction?






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






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






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






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






28. A bathroom sink






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






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






31. Where would information be found on whether a bid bond was required and - if so - its amount?






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






33. Name 10 step process to bid

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34. The equipment used on construction projects can be divided into three categories: Owned - leased - and rented.






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






36. How do climatic conditions influence the amount of work actually completed in an hour?






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






38. What is the maintenance bond?






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






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






41. Order of Magnitude Estimate...






42. The information provided in the General Conditions and Supplementary General Conditions does not influence the project cost.






43. What are the benefits of renting equipment?






44. Construction estimating is more an art than a science






45. Explain firm price contracting estimates.






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






47. Where would information be found on whether a bid bond was required and - if so - its amount?






48. On certain projects the owner may accept proposals only from contractors who are invited to bid.






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






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