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


2. Describe and provide examples of specific use equipment and general use equipment.
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.
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 loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence


3. The location where material can be stored in relationship to the construction project affects productivity.
Scheduling overtime for more than several weeks can result in huge productivity losses.
Instruction to bidders
Punch List
True


4. Describe the CSI MasterFormat and how it is used.
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.
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
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.


5. What is the payment bond?
False
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.
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
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.


6. Name three common methods of procuring equipment.
Erection
Renting - Leasing - Buying
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.
Erection


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


8. What is the payment bond?
Bid
Both extreme hot and cold will tend to slow down the pace of work.
Change Order
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.


9. Describe the composition of the Construction Cost Index (CCI).
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
Scheduling overtime for more than several weeks can result in huge productivity losses.
True
Common labor and material portions


10. How does insurance differ from a surety bond?
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 Bond
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
True


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


12. The assembly of components to form the completed portion of a job.
Addenda
Erection
As-built drawings
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire


13. 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.
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors
...
True


14. What are some of the costs that must be included in equipment operating costs?
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor
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.
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
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire


15. What is the bid bond and how does it protect the owner?
Invitation to bid
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 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 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.


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


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


18. 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 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
False
...


19. Five basic skills everyone should master

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20. The equipment used on construction projects can be divided into three categories: Owned - leased - and rented.
True
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor
The ability to procure the right piece of equipment for the job when the unit is needed
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.


21. What are the difficulties encountered by the estimator during the preparation of a project's conceptual 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.
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
Change Order
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor


22. What is the maintenance bond?
Direct Negotiation - Competitive Bidding
Lump-Sum Estimate - Unit Price Estimate
Change Order
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.


23. Name three common methods of procuring equipment.
Renting - Leasing - Buying
Lavatory
Direct Negotiation - Competitive Bidding
Liquidated Damages


24. 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
Both extreme hot and cold will tend to slow down the pace of work.
True
The amount of work that can be done in an hour


25. What is the best source for productivity data?

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26. The substructure that supports a building or other structure.
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.
Foundation
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work


27. Assemblies Estimate...
Punch List
Retainage
Liquidated Damages
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.


28. The most reliable productivity rates come from historical data
True
Lavatory
Erection
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


29. What is estimating in construction?
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
Master Format and Uniformat
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
Punch List


30. Name 10 step process to bid

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31. What are some of the factors a contractor considers when making a decision to bid?
Liens
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
Internal Factor - External Factor - Project Related-Factor
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.


32. The substructure that supports a building or other structure.
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.
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.
Both extreme hot and cold will tend to slow down the pace of work.
Foundation


33. What are the advantages to a small contractor of renting equipment instead of owning?
Invitation to bid
Master Format and Uniformat
Change Order
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.


34. What unit of time is used to measure labor?
The Labor Hour
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
Scheduling overtime for more than several weeks can result in huge productivity losses.


35. 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 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.
Common labor and material portions
Internal Factor - External Factor - Project Related-Factor


36. 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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37. Name 10 step process to bid

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38. The most reliable productivity rates come from historical data
True
Foundation
Renting - Leasing - Buying
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.


39. A surety bond guaranteeing that a bidder will sign a contract - if offered - in accordance with their proposal.
The ability to procure the right piece of equipment for the job when the unit is needed
Bid
True
Bid Bond


40. What unit of time is used to measure labor?
Foundation
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
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


41. What is the bid bond and how does it protect the owner?
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 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
Instruction to 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.


42. A work order - usually prepared by the architect and signed by the owner or the owner's agent - authorizing a change in the scope of the work and a change in the cost of the project.
The amount of work that can be done in an hour
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.
Change Order
Renting - Leasing - Buying


43. Under what conditions are wage premiums applied
Internal Factor - External Factor - Project Related-Factor
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
Punch List
The amount of work that can be done in an hour


44. A work order - usually prepared by the architect and signed by the owner or the owner's agent - authorizing a change in the scope of the work and a change in the cost of the project.
Change Order
Common labor and material portions
Foundation
True


45. What is the performance bond?
Lump-Sum Estimate - Unit Price Estimate
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.
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.


46. Describe the CSI MasterFormat and how it is used.
Bid Bond
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.
Erection
The amount of work that can be done in an hour


47. 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.
Addenda
Bid
As-built drawings


48. The location where material can be stored in relationship to the construction project affects productivity.
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 ability to procure the right piece of equipment for the job when the unit is needed
True
...


49. A list prepared by the architect or engineer of the contractor's uncompleted work or work to be corrected.
Internal Factor - External Factor - Project Related-Factor
Punch List
Master Format and Uniformat
Internal Factor - External Factor - Project Related-Factor


50. Explain why using overtime is not recommended for most construction projects.
True
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
Scheduling overtime for more than several weeks can result in huge productivity losses.
...