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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. Closely spaced beams supporting a floor or ceiling.They may be wood - steel - or concrete.
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
Internal Factor - External Factor - Project Related-Factor
Joist

2. 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
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.
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors

3. 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
Direct Negotiation - Competitive Bidding
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.
True

4. Explain firm price contracting estimates.
Lump-Sum Estimate - Unit Price Estimate
Instruction to bidders
Internal Factor - External Factor - Project Related-Factor
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work

5. What is the maintenance bond?
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
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.
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.

6. What are some of the factors a contractor considers when making a decision to bid?
Internal Factor - External Factor - Project Related-Factor
...
Scheduling overtime for more than several weeks can result in huge productivity losses.
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.

7. What is estimating in construction?
Contract Documents
The amount of work that can be done in an hour
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
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.

8. Drawings made during the progress of construction - or subsequent thereto - illustrating how various elements of the project were actually installed.
As-built drawings
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor
Change Order
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.

9. Describe factors affecting the accuracy of detail cost estimating.
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
Direct Negotiation - Competitive Bidding
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
Bid Bond

10. 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
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
Change Order
Joist
...

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

12. Describe and provide examples of specific use equipment and general use equipment.
Punch List
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps
Lavatory
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors

13. How are the various surety bonds that may be required on a specific project obtained?
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
Common labor and material portions
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.
Common labor and material portions

14. The most reliable productivity rates come from historical data
Lump-Sum Estimate - Unit Price Estimate
Bid Bond
True
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors

15. 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.
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

16. 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
Internal Factor - External Factor - Project Related-Factor
Invitation to bid
Scheduling overtime for more than several weeks can result in huge productivity losses.

17. What are some of the costs that must be included in equipment operating costs?
Bid Bond
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 most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire

18. 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.
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
The amount of work that can be done in an hour
True

19. What is the best source for productivity data?

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20. Closely spaced beams supporting a floor or ceiling.They may be wood - steel - or concrete.
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
Joist
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
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.

21. 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
Bid
Punch List
Instruction to bidders

22. Working drawings - specifications - general conditions - supplementary general conditions - the owner-contractor agreement - and all addenda (if issued).
Foundation
The Labor 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.
Contract Documents

23. Where would information be found on whether a bid bond was required and - if so - its amount?
The amount of work that can be done in an hour
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.
Skilled labor and material portions

24. The assembly of components to form the completed portion of a job.
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors
Erection
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

25. What unit of time is used to measure labor?
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
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
The Labor 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.

26. What unit of time is used to measure labor?
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed 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.
The Labor Hour
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps

27. The substructure that supports a building or other structure.
Retainage
The Labor Hour
Foundation
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions

28. 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.
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
True
The ability to procure the right piece of equipment for the job when the unit is needed
Addenda

29. The assembly of components to form the completed portion of a job.
Invitation to bid
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
Erection
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence

30. Describe factors affecting the accuracy of detail cost estimating.
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
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work

31. 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.
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
Addenda

32. What are the advantages to a small contractor of renting equipment instead of owning?
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
True
Direct Negotiation - Competitive Bidding
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.

33. 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
Liquidated Damages
Foundation
Punch List
Skilled labor and material portions

34. Legal claims against an owner for amounts due those engaged in or supplying materials for the construction of the building.
True
Instruction to bidders
Liens
Joist

35. Where the project will be constructed does not have a major influence in the preparation of an estimate.
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
False
Change Order
True

36. What does the labor hour represent?
Punch List
Addenda
The amount of work that can be done in an 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.

37. How does insurance differ from a surety bond?
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
Joist
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
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.

38. Name the types of Estimates
Punch List
Liquidated Damages
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
False

39. Describe the composition of the Construction Cost Index (CCI).
As-built drawings
Common 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
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.

40. 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
Common labor and material portions
Liquidated Damages
Scheduling overtime for more than several weeks can result in huge productivity losses.
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.

41. On certain projects the owner may accept proposals only from contractors who are invited to bid.
A gross unit such as the number of hospital beds is used.
Bid Bond
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

42. Name three common methods of procuring equipment.
Internal Factor - External Factor - Project Related-Factor
The ability to procure the right piece of equipment for the job when the unit is needed
Renting - Leasing - Buying
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire

43. stimating labor requires determining the number of work hours to do a specific task and then applying the wage rate.
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
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
True

44. How does insurance differ from a surety bond?
Erection
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time 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.
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.

45. What are the advantages to a small contractor of renting equipment instead of owning?
The ability to procure the right piece of equipment for the job when the unit is needed
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.
Joist

46. The information provided in the General Conditions and Supplementary General Conditions does not influence the project cost.
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
The ability to procure the right piece of equipment for the job when the unit is needed
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
False

47. What are the two most common methods by which a contractor can acquire a construction contract?
Direct Negotiation - Competitive Bidding
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
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.

48. 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.
True
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
The ability to procure the right piece of equipment for the job when the unit is needed

49. Describe and provide examples of specific use equipment and general use equipment.
Change Order
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
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.

50. Name 10 step process to bid

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