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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. What is estimating in construction?






2. Legal claims against an owner for amounts due those engaged in or supplying materials for the construction of the building.






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






4. Explain why using overtime is not recommended for most construction projects.






5. A list prepared by the architect or engineer of the contractor's uncompleted work or work to be corrected.






6. Name 10 step process to bid

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7. What is depreciation?






8. Operation costs include...






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






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






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






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






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






14. Name three common methods of procuring equipment.






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






16. What does the labor hour represent?






17. List the factors affecting labor productivity






18. Under what conditions are wage premiums applied






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






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






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






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






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






24. What are some of the costs that must be included in equipment operating costs?






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






26. Construction estimating is more an art than a science






27. What are the difficulties encountered by the estimator during the preparation of a project's conceptual estimate?






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






29. Explain firm price contracting estimates.






30. 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






31. What are some of the costs that must be included in equipment operating costs?






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






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






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






35. 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.






36. 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.






37. What is the performance bond?






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






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






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






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






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






43. What is estimating in construction?






44. What is the payment bond?






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






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






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






48. Name three common methods of procuring equipment.






49. 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.






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