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. Explain why using overtime is not recommended for most construction projects.
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
True
Scheduling overtime for more than several weeks can result in huge productivity losses.


2. A surety bond guaranteeing that a bidder will sign a contract - if offered - in accordance with their proposal.
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
True
Bid 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.


3. How do climatic conditions influence the amount of work actually completed in an hour?
Scheduling overtime for more than several weeks can result in huge productivity losses.
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 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.
Both extreme hot and cold will tend to slow down the pace of work.


4. Operation costs include...
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
Bid
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor


5. How do climatic conditions influence the amount of work actually completed in an hour?
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
A gross unit such as the number of hospital beds is used.
Invitation to bid
Both extreme hot and cold will tend to slow down the pace of work.


6. 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.
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.
As-built drawings
The ability to procure the right piece of equipment for the job when the unit is needed


7. 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.
Addenda
True
Instruction to bidders
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence


8. Under what conditions are wage premiums applied
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
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 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.
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.


9. Name 10 step process to bid

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10. Where would information be found on whether a bid bond was required and - if so - its amount?
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
True
True


11. What are the difficulties encountered by the estimator during the preparation of a project's conceptual estimate?
Renting - Leasing - Buying
The amount of work that can be done in an hour
Erection
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor


12. Why do many contractors hesitate to bid just before the expiration of a union contract?
The Labor Hour
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 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


13. What is the payment bond?
Invitation to 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.
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.
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate


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


15. 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.
Skilled labor and material portions
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.
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps


16. What does the labor hour represent?
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
The amount of work that can be done in an hour
Scheduling overtime for more than several weeks can result in huge productivity losses.
Lump-Sum Estimate - Unit Price Estimate


17. The information provided in the General Conditions and Supplementary General Conditions does not influence the project cost.
Lavatory
Direct Negotiation - Competitive Bidding
Both extreme hot and cold will tend to slow down the pace of work.
False


18. Five basic skills everyone should master

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19. A sum withheld from each payment to the contractor in accordance with the terms of the owner-contractor agreement.
Joist
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors
Retainage
True


20. What unit of time is used to measure labor?
Invitation to bid
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
The Labor Hour


21. 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
True
Direct Negotiation - Competitive Bidding
Liquidated Damages
A gross unit such as the number of hospital beds is used.


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


23. How are the various surety bonds that may be required on a specific project obtained?
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
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.
True


24. Assemblies Estimate...
Change Order
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.
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence


25. Name two systems that establish standards for the building design/construction estimating process.
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
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
Lavatory
Master Format and Uniformat


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


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


28. A list prepared by the architect or engineer of the contractor's uncompleted work or work to be corrected.
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
Punch List
True


29. A list prepared by the architect or engineer of the contractor's uncompleted work or work to be corrected.
Change Order
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 most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
Punch List


30. Describe the CSI MasterFormat and how it is used.
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
Skilled labor and material portions
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.


31. Operation costs include...
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
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
Addenda


32. Describe and provide examples of specific use equipment and general use equipment.
Both extreme hot and cold will tend to slow down the pace of work.
Erection
Erection
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors


33. What unit of time is used to measure labor?
Common labor and material portions
...
The Labor Hour
Instruction to bidders


34. The assembly of components to form the completed portion of a job.
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
Erection
Direct Negotiation - Competitive Bidding
The ability to procure the right piece of equipment for the job when the unit is needed


35. Five basic skills everyone should master

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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 are the various surety bonds that may be required on a specific project obtained?
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 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.
Change Order
Both extreme hot and cold will tend to slow down the pace of work.


38. What does the labor hour represent?
The amount of work that can be done in an hour
Both extreme hot and cold will tend to slow down the pace of work.
Skilled labor and material portions
False


39. 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.
As-built drawings
Bid Bond
Change Order
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.


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


41. What are some of the costs that must be included in equipment operating costs?
Master Format and Uniformat
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
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.


42. What is the best source for productivity data?

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43. How does insurance differ from a surety bond?
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
Renting - Leasing - Buying
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 most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work


44. A bathroom sink
Renting - Leasing - Buying
True
A gross unit such as the number of hospital beds is used.
Lavatory


45. Working drawings - specifications - general conditions - supplementary general conditions - the owner-contractor agreement - and all addenda (if issued).
Renting - Leasing - Buying
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.
Lavatory


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


47. 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.
Liquidated Damages
Lump-Sum Estimate - Unit Price Estimate
True


48. What is retainage? Why should a contractor be concerned with a retainage clause in a contract?
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
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.


49. What are the benefits of renting equipment?
The ability to procure the right piece of equipment for the job when the unit is needed
Renting - Leasing - Buying
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor
Both extreme hot and cold will tend to slow down the pace of work.


50. 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
False
Liquidated Damages
Scheduling overtime for more than several weeks can result in huge productivity losses.
True