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. Working drawings - specifications - general conditions - supplementary general conditions - the owner-contractor agreement - and all addenda (if issued).
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.
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
Contract Documents
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs


2. What is the bid bond and how does it protect the owner?
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.
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
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
As-built drawings


3. What are some of the factors a contractor considers when making a decision to bid?
A gross unit such as the number of hospital beds is used.
Internal Factor - External Factor - Project Related-Factor
True
The ability to procure the right piece of equipment for the job when the unit is needed


4. Name three common methods of procuring equipment.
Skilled labor and material portions
Addenda
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
Renting - Leasing - Buying


5. What is retainage? Why should a contractor be concerned with a retainage clause in a contract?
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
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
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 and provide examples of specific use equipment and general use equipment.
Liquidated Damages
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
Bid Bond


7. The information provided in the General Conditions and Supplementary General Conditions does not influence the project cost.
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
...
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


8. What is the maintenance 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.
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
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.


9. What is the maintenance bond?
Bid
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
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.


10. What is estimating in construction?
The Labor Hour
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
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.
Lump-Sum Estimate - Unit Price Estimate


11. 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
...
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.
Invitation to bid
Lavatory


12. Describe factors affecting the accuracy of detail cost estimating.
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
True


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


14. Describe the composition of the Construction Cost Index (CCI).
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
Common labor and material portions
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


15. A good database of past project experiences is essential to preparing a quick and accurate estimate.
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
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
Addenda
True


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


17. Describe the CSI MasterFormat and how it is used.
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 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.
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
...


18. A document stating the procedures to be followed by bidders.
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.
Punch List
False
Instruction to bidders


19. What are the two most common methods by which a contractor can acquire a construction contract?
Direct Negotiation - Competitive Bidding
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
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors
True


20. 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.
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
Renting - Leasing - Buying
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
Change Order


21. An invitation to a selected list of contractors furnishing information on the submission of bids on a subject.
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.
Punch List
Invitation to bid
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project


22. 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.
False
Invitation to bid
Change Order
True


23. Drawings made during the progress of construction - or subsequent thereto - illustrating how various elements of the project were actually installed.
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.
As-built drawings
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence


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


25. A document stating the procedures to be followed by bidders.
The Labor Hour
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
Instruction to bidders
Renting - Leasing - Buying


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


27. What is retainage? Why should a contractor be concerned with a retainage clause in a contract?
False
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.
Lump-Sum Estimate - Unit Price 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.


28. Closely spaced beams supporting a floor or ceiling.They may be wood - steel - or concrete.
Joist
Instruction to bidders
False
...


29. What is the best source for productivity data?

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30. Assemblies Estimate...
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
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.
Internal Factor - External Factor - Project Related-Factor


31. Assemblies Estimate...
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
True
False
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.


32. Five basic skills everyone should master

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


34. Describe the CSI MasterFormat and how it is used.
Retainage
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.
False
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.


35. 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
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
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.


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

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37. How does insurance differ from a surety bond?
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.
Both extreme hot and cold will tend to slow down the pace of work.
Invitation to bid
True


38. What unit of time is used to measure labor?
The Labor Hour
Scheduling overtime for more than several weeks can result in huge productivity losses.
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
Direct Negotiation - Competitive Bidding


39. A bathroom sink
Lavatory
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
Addenda
Skilled labor and material portions


40. What is the performance 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.
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.
Master Format and Uniformat
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.


41. A surety bond guaranteeing that a bidder will sign a contract - if offered - in accordance with their proposal.
True
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
Bid Bond
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above


42. An invitation to a selected list of contractors furnishing information on the submission of bids on a subject.
Invitation to bid
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar 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
Master Format and Uniformat


43. What unit of time is used to measure labor?
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
The Labor Hour
Skilled labor and material portions
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work


44. Where would information be found on whether a bid bond was required and - if so - its amount?
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
Contract Documents
True
Common labor and material portions


45. Describe factors affecting the accuracy of detail cost estimating.
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs


46. Proposal prepared by prospective contractor specifying the charges to be made for doing the work in accordance with the contract documents.
Lump-Sum Estimate - Unit Price Estimate
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
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


47. What is the best source for productivity data?

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48. Describe the composition of the Building Cost Index (BCI).
Skilled labor and material portions
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.
A gross unit such as the number of hospital beds is used.
Contract Documents


49. Name 10 step process to bid

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50. What is depreciation?
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
Invitation to bid