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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. 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.
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.
False
Addenda

2. What is retainage? Why should a contractor be concerned with a retainage clause in a contract?
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.
Punch List
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.
False

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

4. Construction estimating is more an art than a science
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.
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.
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors

5. The assembly of components to form the completed portion of a job.
Liquidated Damages
Foundation
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

6. 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
Internal Factor - External Factor - Project Related-Factor
Contract Documents
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs

7. Legal claims against an owner for amounts due those engaged in or supplying materials for the construction of the building.
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
Liens
Internal Factor - External Factor - Project Related-Factor
Punch List

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

9. What is estimating in construction?
Liquidated Damages
Internal Factor - External Factor - Project Related-Factor
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
Direct Negotiation - Competitive Bidding

10. The most reliable productivity rates come from historical data
True
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.
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

11. The most reliable productivity rates come from historical data
True
Contract Documents
Invitation to bid
Bid

12. Describe and provide examples of specific use equipment and general use equipment.
Invitation to 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
True
The Labor Hour

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

14. Closely spaced beams supporting a floor or ceiling.They may be wood - steel - or concrete.
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
Addenda
Joist
Bid

15. Under what conditions are wage premiums applied
Joist
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
Renting - Leasing - Buying

16. Name the types of Estimates
The Labor Hour
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
True
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.

17. Operation costs include...
As-built drawings
...
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above

18. What are some of the factors a contractor considers when making a decision to bid?
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
Internal Factor - External Factor - Project Related-Factor
True

19. What is the best source for productivity data?

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20. A bathroom sink
Lavatory
True
True
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate

21. A document stating the procedures to be followed by bidders.
True
Instruction to bidders
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
Joist

22. What is depreciation?
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.
The ability to procure the right piece of equipment for the job when the unit is needed
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
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

23. What is the best source for productivity data?

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

25. The substructure that supports a building or other structure.
Foundation
As-built drawings
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

26. What are the difficulties encountered by the estimator during the preparation of a project's conceptual estimate?
Punch List
Bid Bond
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.
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor

27. Drawings made during the progress of construction - or subsequent thereto - illustrating how various elements of the project were actually installed.
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
...
As-built drawings
Master Format and Uniformat

28. Construction estimating is more an art than a science
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.
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.

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

30. Describe the composition of the Building Cost Index (BCI).
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
Skilled labor and material portions
Instruction to bidders

31. On certain projects the owner may accept proposals only from contractors who are invited to bid.
The amount of work that can be done in an hour
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.
Renting - Leasing - Buying
True

32. What is estimating in construction?
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
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
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
Joist

33. The equipment used on construction projects can be divided into three categories: Owned - leased - and rented.
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
Renting - Leasing - Buying
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

34. List the factors affecting labor productivity
Bid
Addenda
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
As-built drawings

35. Name three common methods of procuring equipment.
Erection
Renting - Leasing - Buying
The amount of work that can be done in an hour
Foundation

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.
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps
Renting - Leasing - Buying
Addenda

37. Five basic skills everyone should master

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38. What are the benefits of renting equipment?
False
Contract Documents
Invitation to bid
The ability to procure the right piece of equipment for the job when the unit is needed

39. The information provided in the General Conditions and Supplementary General Conditions does not influence the project cost.
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
Master Format and Uniformat
Direct Negotiation - Competitive Bidding
False

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

41. 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 most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
...
Liquidated Damages

42. What does the labor hour represent?
Addenda
Invitation to bid
Instruction to bidders
The amount of work that can be done in an hour

43. What are the advantages to a small contractor of renting equipment instead of owning?
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.
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed 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.
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.

44. Explain why using overtime is not recommended for most construction projects.
Scheduling overtime for more than several weeks can result in huge productivity losses.
A gross unit such as the number of hospital beds is used.
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
True

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

46. What is depreciation?
Both extreme hot and cold will tend to slow down the pace of work.
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
The Labor Hour
The amount of work that can be done in an hour

47. Describe factors affecting the accuracy of detail cost estimating.
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
Both extreme hot and cold will tend to slow down the pace of work.
Renting - Leasing - Buying
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs

48. Order of Magnitude Estimate...
False
Retainage
True
A gross unit such as the number of hospital beds is used.

49. What are the two most common methods by which a contractor can acquire a construction contract?
Direct Negotiation - Competitive Bidding
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
The amount of work that can be done in an hour
Skilled labor and material portions

50. What is the payment bond?
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.
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.
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.
Skilled labor and material portions