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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. Operation costs include...
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.
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.
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
Liquidated Damages

2. An agreed-to sum chargeable against the contractor as reimbursement for damages suffered by the owner because of contractor's failure to fulfill contractual obligations
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 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.
Liquidated Damages
Foundation

3. The information provided in the General Conditions and Supplementary General Conditions does not influence the project cost.
Foundation
Bid Bond
False
True

4. The location where material can be stored in relationship to the construction project affects productivity.
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
True
Addenda

5. What are some of the costs that must be included in equipment operating costs?
True
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
Instruction to bidders
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project

6. 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.
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.
False
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

7. What is the payment 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.
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 ability to procure the right piece of equipment for the job when the unit is needed
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.

8. Working drawings - specifications - general conditions - supplementary general conditions - the owner-contractor agreement - and all addenda (if issued).
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.
Addenda
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.
Contract Documents

9. stimating labor requires determining the number of work hours to do a specific task and then applying the wage rate.
As-built drawings
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
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

10. Proposal prepared by prospective contractor specifying the charges to be made for doing the work in accordance with the contract documents.
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. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
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.

11. What are the difficulties encountered by the estimator during the preparation of a project's conceptual estimate?
True
Contract Documents
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor
True

12. Closely spaced beams supporting a floor or ceiling.They may be wood - steel - or concrete.
Lavatory
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
Both extreme hot and cold will tend to slow down the pace of work.
Joist

13. A list prepared by the architect or engineer of the contractor's uncompleted work or work to be corrected.
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
Foundation
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
Punch List

14. Drawings made during the progress of construction - or subsequent thereto - illustrating how various elements of the project were actually installed.
As-built drawings
Instruction to bidders
True
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project

15. 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.
Addenda
Change Order
Bid Bond

16. 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.
Liens
...
Change Order
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above

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

18. Describe and provide examples of specific use equipment and general use equipment.
The Labor Hour
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
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.

19. The equipment used on construction projects can be divided into three categories: Owned - leased - and rented.
True
Internal Factor - External Factor - Project Related-Factor
Lump-Sum Estimate - Unit Price Estimate
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.

20. What are some of the factors a contractor considers when making a decision to bid?
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
Internal Factor - External Factor - Project Related-Factor
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.

21. Explain firm price contracting estimates.
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
Instruction to bidders
Lump-Sum Estimate - Unit Price Estimate
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps

22. List the factors affecting labor productivity
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
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
Bid Bond
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

23. On certain projects the owner may accept proposals only from contractors who are invited to bid.
The Labor Hour
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
True

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

25. What does the labor hour represent?
False
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
Renting - Leasing - Buying
The amount of work that can be done in an hour

26. What are some of the factors a contractor considers when making a decision to bid?
Addenda
Internal Factor - External Factor - Project Related-Factor
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
Common labor and material portions

27. A bathroom sink
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
Renting - Leasing - Buying
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
Lavatory

28. What is the best source for productivity data?

29. What are the benefits of renting equipment?
The ability to procure the right piece of equipment for the job when the unit is needed
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.
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor
True

30. Name 10 step process to bid

31. Name 10 step process to bid

32. What unit of time is used to measure labor?
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
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 Labor Hour
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.

33. Name the types of Estimates
As-built drawings
Foundation
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
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.

34. How are the various surety bonds that may be required on a specific project obtained?
False
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
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.

35. Describe the composition of the Building Cost Index (BCI).
True
Skilled labor and material portions
Erection
Common labor and material portions

36. Order of Magnitude Estimate...
The Labor Hour
Both extreme hot and cold will tend to slow down the pace of work.
A gross unit such as the number of hospital beds is used.
True

37. Describe the composition of the Building Cost Index (BCI).
Liquidated Damages
Skilled labor and material portions
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

38. On certain projects the owner may accept proposals only from contractors who are invited to bid.
True
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
...
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor

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

40. Proposal prepared by prospective contractor specifying the charges to be made for doing the work in accordance with the contract documents.
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
Invitation to bid
Bid
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence

41. What is the best source for productivity data?

42. Name two systems that establish standards for the building design/construction estimating process.
Master Format and Uniformat
Internal Factor - External Factor - Project Related-Factor
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
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.

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

44. stimating labor requires determining the number of work hours to do a specific task and then applying the wage rate.
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.
True
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps
...

45. How does insurance differ from a surety 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.
Punch List
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.
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions

46. What are the advantages to a small contractor of renting equipment instead of owning?
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
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.
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
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.

47. The equipment used on construction projects can be divided into three categories: Owned - leased - and rented.
The ability to procure the right piece of equipment for the job when the unit is needed
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.
Skilled labor and material portions

48. A surety bond guaranteeing that a bidder will sign a contract - if offered - in accordance with their proposal.
True
Bid Bond
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
Liquidated Damages

49. Name two systems that establish standards for the building design/construction estimating process.
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.
True
Master Format and Uniformat
Internal Factor - External Factor - Project Related-Factor

50. The most reliable productivity rates come from historical data
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.
True
False
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs