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 maintenance bond?






2. How does insurance differ from a surety bond?






3. List the factors affecting labor productivity






4. What is depreciation?






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






6. What does the labor hour represent?






7. A bathroom sink






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






9. Closely spaced beams supporting a floor or ceiling.They may be wood - steel - or concrete.






10. The location where material can be stored in relationship to the construction project affects productivity.






11. Under what conditions are wage premiums applied






12. What is the payment bond?






13. What is the best source for productivity data?


14. What is the payment bond?






15. The substructure that supports a building or other structure.






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






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






18. The location where material can be stored in relationship to the construction project affects productivity.






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






20. Working drawings - specifications - general conditions - supplementary general conditions - the owner-contractor agreement - and all addenda (if issued).






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






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






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






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






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






26. Construction estimating is more an art than a science






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






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






29. Name 10 step process to bid


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






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






32. 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.






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






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






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






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






37. What are the two most common methods by which a contractor can acquire a construction contract?






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


39. Five basic skills everyone should master


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






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






42. The most reliable productivity rates come from historical data






43. List the factors affecting labor productivity






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






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






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






47. The assembly of components to form the completed portion of a job.






48. What are some of the factors a contractor considers when making a decision to bid?






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






50. Describe the composition of the Construction Cost Index (CCI).