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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. Describe factors affecting the accuracy of detail cost estimating.
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
Erection
Skilled labor and material portions
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs

2. What unit of time is used to measure labor?
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
Skilled labor and material portions
Bid Bond
The Labor Hour

3. Name the types of Estimates
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
Liquidated Damages
Change Order
True

4. List the factors affecting labor productivity
True
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
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
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.

5. 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.
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
Scheduling overtime for more than several weeks can result in huge productivity losses.

6. Where would information be found on whether a bid bond was required and - if so - its amount?
False
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
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.

7. Name 10 step process to bid

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8. On certain projects the owner may accept proposals only from contractors who are invited to bid.
Erection
True
Liquidated Damages
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above

9. What does the labor hour represent?
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
Direct Negotiation - Competitive Bidding
Joist
The amount of work that can be done in an hour

10. Construction estimating is more an art than a science
Invitation to bid
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.
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.

11. What is the bid bond and how does it protect the owner?
Direct Negotiation - Competitive Bidding
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
Liens
Lavatory

12. An invitation to a selected list of contractors furnishing information on the submission of bids on a subject.
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
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.
Retainage
Invitation to bid

13. What are some of the factors a contractor considers when making a decision 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
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.
Internal Factor - External Factor - Project Related-Factor
Skilled labor and material portions

14. Why do many contractors hesitate to bid just before the expiration of a union 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.
Invitation to bid
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

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

16. 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.
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
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
Invitation to bid

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

18. Explain firm price contracting estimates.
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
Punch List
As-built drawings

19. What is the performance bond?
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.
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
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.

20. Describe the CSI MasterFormat and how it is used.
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.
Internal Factor - External Factor - Project Related-Factor
True

21. Five basic skills everyone should master

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22. The information provided in the General Conditions and Supplementary General Conditions does not influence the project cost.
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
Change Order
False
Direct Negotiation - Competitive Bidding

23. 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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24. Proposal prepared by prospective contractor specifying the charges to be made for doing the work in accordance with the contract documents.
Bid
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
Punch List
Both extreme hot and cold will tend to slow down the pace of work.

25. What are some of the factors a contractor considers when making a decision to bid?
Invitation to bid
Internal Factor - External Factor - Project Related-Factor
The amount of work that can be done in an hour
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions

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

27. The equipment used on construction projects can be divided into three categories: Owned - leased - and rented.
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
Scheduling overtime for more than several weeks can result in huge productivity losses.
True
Foundation

28. Drawings made during the progress of construction - or subsequent thereto - illustrating how various elements of the project were actually installed.
As-built drawings
Master Format and Uniformat
Addenda
Liens

29. How do climatic conditions influence the amount of work actually completed in an hour?
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
Both extreme hot and cold will tend to slow down the pace of work.
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
Invitation to bid

30. The substructure that supports a building or other structure.
Instruction to bidders
Foundation
Bid Bond
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

31. What are the difficulties encountered by the estimator during the preparation of a project's conceptual estimate?
Erection
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor
Joist
True

32. Describe and provide examples of specific use equipment and general use equipment.
Renting - Leasing - Buying
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
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor

33. What are the advantages to a small contractor of renting equipment instead of owning?
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.
Punch List
Liens
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate

34. A surety bond guaranteeing that a bidder will sign a contract - if offered - in accordance with their proposal.
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
Bid Bond
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate

35. The information provided in the General Conditions and Supplementary General Conditions does not influence the project cost.
Invitation to bid
False
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

36. Legal claims against an owner for amounts due those engaged in or supplying materials for the construction of the building.
Liens
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.
True
Lavatory

37. What is the bid bond and how does it protect the owner?
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
The Labor Hour
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor

38. What are the benefits of renting equipment?
Common labor and material portions
...
Both extreme hot and cold will tend to slow down the pace of work.
The ability to procure the right piece of equipment for the job when the unit is needed

39. Describe and provide examples of specific use equipment and general use equipment.
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
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors

40. The location where material can be stored in relationship to the construction project affects productivity.
True
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
Liquidated Damages
Liquidated Damages

41. A bathroom sink
Lavatory
Master Format and Uniformat
True
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above

42. 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
True
Addenda
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.

43. The most reliable productivity rates come from historical data
Liens
Lavatory
True
Contract Documents

44. Why do many contractors hesitate to bid just before the expiration of a union 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.
Change Order
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.
Master Format and Uniformat

45. What is estimating in construction?
False
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
A gross unit such as the number of hospital beds is used.

46. What are the difficulties encountered by the estimator during the preparation of a project's conceptual estimate?
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
Scheduling overtime for more than several weeks can result in huge productivity losses.
Lavatory
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor

47. Operation costs include...
Invitation to bid
True
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
The Labor Hour

48. 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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49. Under what conditions are wage premiums applied
Overtime work - shift work - hazardous work conditions - or unusually strenuous 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.
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
The ability to procure the right piece of equipment for the job when the unit is needed

50. 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
Bid Bond
As-built drawings
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