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Construction Estimating

Instructions:

Answer 50 questions in 15 minutes.
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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. On certain projects the owner may accept proposals only from contractors who are invited to bid.
The Labor Hour
...
True
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire

2. What are some of the factors a contractor considers when making a decision to bid?
Internal Factor - External Factor - Project Related-Factor
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
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
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.

3. Why do many contractors hesitate to bid just before the expiration of a union contract?
As-built drawings
Liens
Change Order
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.

4. Describe the composition of the Building Cost Index (BCI).
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.
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.
Skilled labor and material portions
Foundation

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

6. 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.
Addenda
Punch List
True

7. A bathroom sink
Both extreme hot and cold will tend to slow down the pace of work.
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
As-built drawings
Lavatory

8. 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.
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
Addenda
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
Punch List

9. How do climatic conditions influence the amount of work actually completed in an hour?
Contract Documents
Both extreme hot and cold will tend to slow down the pace of work.
Lump-Sum Estimate - Unit Price Estimate
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate

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
A gross unit such as the number of hospital beds is used.
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
...
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above

11. What does the labor hour represent?
Internal Factor - External Factor - Project Related-Factor
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 amount of work that can be done in an hour
Internal Factor - External Factor - Project Related-Factor

12. What are some of the factors a contractor considers when making a decision to bid?
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors
Skilled labor and material portions
Internal Factor - External Factor - Project Related-Factor
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate

13. What are the two most common methods by which a contractor can acquire a construction 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.
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
Direct Negotiation - Competitive Bidding
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.

14. A sum withheld from each payment to the contractor in accordance with the terms of the owner-contractor agreement.
True
Retainage
Punch List
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.

15. Drawings made during the progress of construction - or subsequent thereto - illustrating how various elements of the project were actually installed.
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
Internal Factor - External Factor - Project Related-Factor
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

16. Describe and provide examples of specific use equipment and general use equipment.
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.
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
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence

17. 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
Direct Negotiation - Competitive Bidding
Foundation
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

18. Describe and provide examples of specific use equipment and general use equipment.
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
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 Labor Hour
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.

19. What is the best source for productivity data?

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20. How do climatic conditions influence the amount of work actually completed in an hour?
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.
True
Scheduling overtime for more than several weeks can result in huge productivity losses.

21. An invitation to a selected list of contractors furnishing information on the submission of bids on a subject.
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 ability to procure the right piece of equipment for the job when the unit is needed
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
Invitation to bid

22. On certain projects the owner may accept proposals only from contractors who are invited to bid.
Punch List
...
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
True

23. A document stating the procedures to be followed by bidders.
Instruction to bidders
Change Order
Addenda
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.

24. The substructure that supports a building or other structure.
Internal Factor - External Factor - Project Related-Factor
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
Foundation
Bid

25. What is depreciation?
Retainage
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
True
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions

26. The most reliable productivity rates come from historical data
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
True
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
A gross unit such as the number of hospital beds is used.

27. Name 10 step process to bid

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28. Legal claims against an owner for amounts due those engaged in or supplying materials for the construction of the building.
Renting - Leasing - Buying
Liens
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
False

29. What types of information are provided in the Invitation to Bid?
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
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
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

30. What are the two most common methods by which a contractor can acquire a construction contract?
Both extreme hot and cold will tend to slow down the pace of work.
Change Order
Direct Negotiation - Competitive Bidding
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.

31. Closely spaced beams supporting a floor or ceiling.They may be wood - steel - or concrete.
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.
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
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
Joist

32. What are the benefits of renting equipment?
The ability to procure the right piece of equipment for the job when the unit is needed
Erection
Lump-Sum Estimate - Unit Price Estimate
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions

33. A document stating the procedures to be followed by bidders.
Retainage
Instruction to bidders
Joist
Change Order

34. 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
Common labor and material portions
Erection
The amount of work that can be done in an hour

35. An invitation to a selected list of contractors furnishing information on the submission of bids on a subject.
Invitation to bid
True
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
Joist

36. Under what conditions are wage premiums applied
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.
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
Contract Documents
False

37. How are the various surety bonds that may be required on a specific project obtained?
The amount of work that can be done in an hour
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.
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.
Change Order

38. Five basic skills everyone should master

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39. What unit of time is used to measure labor?
Bid 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.
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 Labor Hour

40. A surety bond guaranteeing that a bidder will sign a contract - if offered - in accordance with their proposal.
Bid Bond
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps

41. Name the types of Estimates
Instruction to bidders
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
Liens
Instruction to bidders

42. What is the performance bond?
Contract Documents
Invitation to bid
The amount of work that can be done in an 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.

43. Assemblies Estimate...
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
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 estimator uses more detailed information such as the bay size - square feet of partition wall - number of plumbing fixtures - or square feet of carpet.
False

44. 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
...
Renting - Leasing - Buying
Lump-Sum Estimate - Unit Price Estimate
Lavatory

45. Name three common methods of procuring equipment.
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.
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.
Renting - Leasing - Buying
Bid

46. Five basic skills everyone should master

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47. Where the project will be constructed does not have a major influence in the preparation of an estimate.
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
Punch List
False
Addenda

48. Proposal prepared by prospective contractor specifying the charges to be made for doing the work in accordance with the contract documents.
Bid
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
False
Direct Negotiation - Competitive Bidding

49. Order of Magnitude Estimate...
Instruction to bidders
A gross unit such as the number of hospital beds is used.
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
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.

50. Name three common methods of procuring equipment.
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors
Renting - Leasing - Buying