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.
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.
Scheduling overtime for more than several weeks can result in huge productivity losses.
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
Bid

2. List the factors affecting labor productivity
Erection
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
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.

3. Order of Magnitude Estimate...
True
True
A gross unit such as the number of hospital beds is used.
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

4. A document stating the procedures to be followed by bidders.
Bid Bond
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. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
Instruction to bidders

5. Where the project will be constructed does not have a major influence in the preparation of an estimate.
False
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.
As-built drawings
True

6. What is the best source for productivity data?

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183

7. The location where material can be stored in relationship to the construction project affects productivity.
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.
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors
The Labor Hour

8. Where would information be found on whether a bid bond was required and - if so - its amount?
Addenda
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.

9. An invitation to a selected list of contractors furnishing information on the submission of bids on a subject.
Lump-Sum Estimate - Unit Price Estimate
Invitation to bid
Lavatory
Renting - Leasing - Buying

10. What are some of the costs that must be included in equipment operating costs?
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.
Lump-Sum Estimate - Unit Price Estimate
Internal Factor - External Factor - Project Related-Factor
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire

11. A list prepared by the architect or engineer of the contractor's uncompleted work or work to be corrected.
False
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
Punch List
Bid Bond

12. The most reliable productivity rates come from historical data
Bid
Joist
Internal Factor - External Factor - Project Related-Factor
True

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.
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
The ability to procure the right piece of equipment for the job when the unit is needed

14. Why is it a good idea for the general contractor to perform quantity surveys on work that is to be subcontracted out?

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183

15. Proposal prepared by prospective contractor specifying the charges to be made for doing the work in accordance with the contract documents.
Bid
Bid Bond
The amount of work that can be done in an hour
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.

16. 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.
False
Both extreme hot and cold will tend to slow down the pace of work.
False

17. Closely spaced beams supporting a floor or ceiling.They may be wood - steel - or concrete.
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.
Retainage
Joist
Scheduling overtime for more than several weeks can result in huge productivity losses.

18. The location where material can be stored in relationship to the construction project affects productivity.
Common labor and material portions
True
Addenda
Instruction to bidders

19. 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
Liens
True

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

21. How do climatic conditions influence the amount of work actually completed in an hour?
Bid
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
Both extreme hot and cold will tend to slow down the pace of work.

22. What are the two most common methods by which a contractor can acquire a construction contract?
Direct Negotiation - Competitive Bidding
...
Retainage
Skilled labor and material portions

23. Explain why using overtime is not recommended for most construction projects.
Internal Factor - External Factor - Project Related-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.
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
Scheduling overtime for more than several weeks can result in huge productivity losses.

24. Where would information be found on whether a bid bond was required and - if so - its amount?
The Labor Hour
The Labor Hour
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
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.

25. Name 10 step process to bid

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183

26. An invitation to a selected list of contractors furnishing information on the submission of bids on a subject.
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
Bid Bond
Invitation to bid
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

27. Five basic skills everyone should master

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183

28. What does the labor hour represent?
Skilled labor and material portions
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
The amount of work that can be done in an hour
False

29. 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
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

30. Explain firm price contracting estimates.
Lump-Sum Estimate - Unit Price Estimate
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
False
True

31. What is retainage? Why should a contractor be concerned with a retainage clause in a 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.
Lavatory
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.
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.

32. Describe and provide examples of specific use equipment and general use equipment.
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
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
True

33. What is depreciation?
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
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.
Contract Documents
Scheduling overtime for more than several weeks can result in huge productivity losses.

34. How does insurance differ from a surety bond?
Lump-Sum Estimate - Unit Price Estimate
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.
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.

35. Construction estimating is more an art than a science
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
Common labor and material portions
Retainage

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

37. What is the maintenance bond?
True
True
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
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. 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.
Renting - Leasing - Buying
Lavatory
As-built drawings

39. Name the types of Estimates
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 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.
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
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate

40. What are some of the costs that must be included in equipment operating costs?
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 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.
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
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.

41. 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
...
As-built drawings
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

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

43. The assembly of components to form the completed portion of a job.
False
Erection
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
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

44. stimating labor requires determining the number of work hours to do a specific task and then applying the wage rate.
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.
The ability to procure the right piece of equipment for the job when the unit is needed
True
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs

45. The assembly of components to form the completed portion of a job.
Erection
True
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.
Direct Negotiation - Competitive Bidding

46. Assemblies 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.
The ability to procure the right piece of equipment for the job when the unit is needed
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.

47. A document stating the procedures to be followed by bidders.
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.
Instruction to bidders
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
False

48. What are the benefits of renting equipment?
...
The amount of work that can be done in an hour
The ability to procure the right piece of equipment for the job when the unit is needed
Liens

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

50. 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. 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.
Internal Factor - External Factor - Project Related-Factor
Master Format and Uniformat