Test your basic knowledge |

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. A list prepared by the architect or engineer of the contractor's uncompleted work or work to be corrected.
Liquidated Damages
Punch List
Invitation to bid
Contract Documents

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

3. List the factors affecting labor productivity
Skilled labor and material portions
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.
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions

4. Name the types of Estimates
Lump-Sum Estimate - Unit Price 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.
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate

5. A document stating the procedures to be followed by bidders.
Lavatory
Instruction to bidders
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
Retainage

6. The location where material can be stored in relationship to the construction project affects productivity.
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. 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
Direct Negotiation - Competitive Bidding
True

7. Describe and provide examples of specific use equipment and general use equipment.
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors
Joist
True
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. Describe the CSI MasterFormat and how it is used.
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.
As-built drawings
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

9. How do climatic conditions influence the amount of work actually completed in an hour?
Both extreme hot and cold will tend to slow down the pace of work.
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.
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
True

10. Order of Magnitude Estimate...
A gross unit such as the number of hospital beds is used.
Liquidated Damages
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time 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

11. What are the benefits of renting equipment?
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
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

12. The information provided in the General Conditions and Supplementary General Conditions does not influence the project cost.
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.
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
False
Lump-Sum Estimate - Unit Price Estimate

13. A sum withheld from each payment to the contractor in accordance with the terms of the owner-contractor agreement.
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
The ability to procure the right piece of equipment for the job when the unit is needed
False
Retainage

14. A list prepared by the architect or engineer of the contractor's uncompleted work or work to be corrected.
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.
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
Punch List
Instruction to bidders

15. Construction estimating is more an art than a science
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
The amount of work that can be done in an hour
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project

16. Where would information be found on whether a bid bond was required and - if so - its amount?
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
Renting - Leasing - Buying
Internal Factor - External Factor - Project Related-Factor
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.

17. Where would information be found on whether a bid bond was required and - if so - its amount?
Renting - Leasing - Buying
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
A gross unit such as the number of hospital beds is used.
Direct Negotiation - Competitive Bidding

18. Where the project will be constructed does not have a major influence in the preparation of an estimate.
Punch List
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
True
False

19. On certain projects the owner may accept proposals only from contractors who are invited to bid.
Scheduling overtime for more than several weeks can result in huge productivity losses.
Erection
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.
True

20. Name 10 step process to bid

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183

21. What is the bid bond and how does it protect the owner?
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors
Addenda
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
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.

22. Describe and provide examples of specific use equipment and general use equipment.
Contract Documents
...
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.

23. Construction estimating is more an art than a science
Punch List
Liquidated Damages
True
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.

24. A sum withheld from each payment to the contractor in accordance with the terms of the owner-contractor agreement.
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.
Internal Factor - External Factor - Project Related-Factor
Retainage
Bid Bond

25. An invitation to a selected list of contractors furnishing information on the submission of bids on a subject.
Bid
Liens
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
Invitation to bid

26. How do climatic conditions influence the amount of work actually completed in an hour?
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
Lavatory
Both extreme hot and cold will tend to slow down the pace of work.
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions

27. Operation costs include...
False
Skilled labor and material portions
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
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above

28. A good database of past project experiences is essential to preparing a quick and accurate estimate.
True
Erection
Foundation
The Labor Hour

29. Where the project will be constructed does not have a major influence in the preparation of an estimate.
Joist
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.
False
True

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

31. Proposal prepared by prospective contractor specifying the charges to be made for doing the work in accordance with the contract documents.
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
Skilled labor and material portions
Change Order
Bid

32. Under what conditions are wage premiums applied
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
Liquidated Damages
Both extreme hot and cold will tend to slow down the pace of work.

33. Order of Magnitude Estimate...
A gross unit such as the number of hospital beds is used.
Skilled labor and material portions
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
Retainage

34. Describe factors affecting the accuracy of detail cost estimating.
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.
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors
Bid Bond
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs

35. Five basic skills everyone should master

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183

36. 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
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors
Liquidated Damages
True
Foundation

37. A bathroom sink
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.
Lavatory
Erection
Punch List

38. Proposal prepared by prospective contractor specifying the charges to be made for doing the work in accordance with the contract documents.
Punch List
Bid
Renting - Leasing - Buying
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project

39. 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
Bid Bond
Erection
Direct Negotiation - Competitive Bidding

40. Explain why using overtime is not recommended for most construction projects.
Master Format and Uniformat
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
Scheduling overtime for more than several weeks can result in huge productivity losses.
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.

41. The location where material can be stored in relationship to the construction project affects productivity.
Bid Bond
The Labor Hour
True
Master Format and Uniformat

42. Name two systems that establish standards for the building design/construction estimating process.
Master Format and Uniformat
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
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above

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

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183

44. The substructure that supports a building or other structure.
Foundation
Erection
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.

45. What is depreciation?
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.
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work

46. What are the benefits of renting equipment?
The ability to procure the right piece of equipment for the job when the unit is needed
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.
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.
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.

47. What is the best source for productivity data?

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183

48. What is the maintenance bond?
Lavatory
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.
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

49. 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
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.
Liquidated Damages
...
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

50. How are the various surety bonds that may be required on a specific project obtained?
Change Order
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
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.