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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. Order of Magnitude Estimate...
A gross unit such as the number of hospital beds is used.
True
Foundation
False

2. The equipment used on construction projects can be divided into three categories: Owned - leased - and rented.
Master Format and Uniformat
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
Lump-Sum Estimate - Unit Price Estimate
True

3. The most reliable productivity rates come from historical data
Overtime work - shift work - hazardous work conditions - or unusually strenuous 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.
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

4. What is retainage? Why should a contractor be concerned with a retainage clause in a contract?
Direct Negotiation - Competitive Bidding
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.
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.

5. What unit of time is used to measure labor?
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
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 Labor Hour
Erection

6. A good database of past project experiences is essential to preparing a quick and accurate 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
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
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.

7. Closely spaced beams supporting a floor or ceiling.They may be wood - steel - or concrete.
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
Joist
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work

8. Describe and provide examples of specific use equipment and general use equipment.
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
Liquidated Damages
Lump-Sum Estimate - Unit Price Estimate

9. Proposal prepared by prospective contractor specifying the charges to be made for doing the work in accordance with the contract documents.
Erection
Direct Negotiation - Competitive Bidding
Bid
Liens

10. 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.
True
As-built drawings
Internal Factor - External Factor - Project Related-Factor

11. The substructure that supports a building or other structure.
Foundation
Master Format and Uniformat
Change Order
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps

12. 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.
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.
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.
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.

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

14. The substructure that supports a building or other structure.
...
Scheduling overtime for more than several weeks can result in huge productivity losses.
Foundation
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.

15. What does the labor hour represent?
True
The amount of work that can be done in an 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.
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence

16. A sum withheld from each payment to the contractor in accordance with the terms of the owner-contractor agreement.
Retainage
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
Internal Factor - External Factor - Project Related-Factor
Direct Negotiation - Competitive Bidding

17. Name three common methods of procuring equipment.
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
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.
Liquidated Damages

18. What are the benefits of renting equipment?
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
Retainage
Common labor and material portions

19. A good database of past project experiences is essential to preparing a quick and accurate estimate.
Liquidated Damages
True
Punch List
Change Order

20. Describe and provide examples of specific use equipment and general use equipment.
Master Format and Uniformat
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps
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.
Both extreme hot and cold will tend to slow down the pace of work.

21. How do climatic conditions influence the amount of work actually completed in an hour?
Liens
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
Renting - Leasing - Buying

22. A surety bond guaranteeing that a bidder will sign a contract - if offered - in accordance with their proposal.
Direct Negotiation - Competitive Bidding
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
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps

23. What are the two most common methods by which a contractor can acquire a construction contract?
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
Direct Negotiation - Competitive Bidding
Common labor and material portions

24. A bathroom sink
Common labor and material portions
Liquidated Damages
As-built drawings
Lavatory

25. What are some of the costs that must be included in equipment operating costs?
Common labor and material portions
The amount of work that can be done in an hour
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
True

26. Describe the composition of the Construction Cost Index (CCI).
Common labor and material portions
Lump-Sum Estimate - Unit Price Estimate
Punch List
Direct Negotiation - Competitive Bidding

27. 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.
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
A gross unit such as the number of hospital beds is used.
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence

28. 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
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors
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 most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
...

29. What are the benefits of renting equipment?
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
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.
The ability to procure the right piece of equipment for the job when the unit is needed

30. An invitation to a selected list of contractors furnishing information on the submission of bids on a subject.
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
Master Format and Uniformat
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors
Invitation to bid

31. Five basic skills everyone should master

32. On certain projects the owner may accept proposals only from contractors who are invited to bid.
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
Both extreme hot and cold will tend to slow down the pace of work.
Lavatory
True

33. 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
Erection
False
Both extreme hot and cold will tend to slow down the pace of work.
...

34. On certain projects the owner may accept proposals only from contractors who are invited to 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
True
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate

35. How does insurance differ from a surety bond?
Both extreme hot and cold will tend to slow down the pace of work.
Addenda
A gross unit such as the number of hospital beds is used.
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.

36. A list prepared by the architect or engineer of the contractor's uncompleted work or work to be corrected.
Liens
Punch List
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence

37. Construction estimating is more an art than a science
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
Invitation to bid
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.

38. 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.
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.
Lump-Sum Estimate - Unit Price Estimate
Contract Documents

39. What is the best source for productivity data?

40. 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
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.
Lump-Sum Estimate - Unit Price Estimate
Both extreme hot and cold will tend to slow down the pace of work.

41. Operation costs include...
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.
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
Invitation to bid

42. The location where material can be stored in relationship to the construction project affects productivity.
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
Joist
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
True

43. How are the various surety bonds that may be required on a specific project obtained?
A gross unit such as the number of hospital beds is used.
Both extreme hot and cold will tend to slow down the pace of work.
False
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.

44. stimating labor requires determining the number of work hours to do a specific task and then applying the wage rate.
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
Master Format and Uniformat
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
True

45. Closely spaced beams supporting a floor or ceiling.They may be wood - steel - or concrete.
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
Joist
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
Erection

46. List the factors affecting labor productivity
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
Lump-Sum Estimate - Unit Price Estimate
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate

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

48. The information provided in the General Conditions and Supplementary General Conditions does not influence the project cost.
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.
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
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.
False

49. The assembly of components to form the completed portion of a job.
Both extreme hot and cold will tend to slow down the pace of work.
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.
Erection
True

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
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
Erection
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
Liquidated Damages