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. What types of information are provided in the Invitation to Bid?
Joist
True
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
...

2. Legal claims against an owner for amounts due those engaged in or supplying materials for the construction of the building.
Liens
Master Format and Uniformat
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
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.

3. What are the difficulties encountered by the estimator during the preparation of a project's conceptual estimate?
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project

4. Explain why using overtime is not recommended for most construction projects.
True
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
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
Scheduling overtime for more than several weeks can result in huge productivity losses.

5. The assembly of components to form the completed portion of a job.
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.
Erection
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

6. A document stating the procedures to be followed by bidders.
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 most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
Instruction to bidders
True

7. What is estimating in construction?
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.
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor
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.

8. Order of Magnitude Estimate...
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 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.
Bid Bond

9. Name two systems that establish standards for the building design/construction estimating process.
A gross unit such as the number of hospital beds is used.
Master Format and Uniformat
As-built drawings
True

10. Why do many contractors hesitate to bid just before the expiration of a union contract?
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.
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.
Lavatory
The amount of work that can be done in an hour

11. How are the various surety bonds that may be required on a specific project obtained?
Retainage
Punch List
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

12. What are some of the costs that must be included in equipment operating costs?
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
The Labor Hour
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire

13. Explain why using overtime is not recommended for most construction projects.
Scheduling overtime for more than several weeks can result in huge productivity losses.
Master Format and Uniformat
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 most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work

14. How does insurance differ from a surety bond?
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
Foundation
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.
A gross unit such as the number of hospital beds is used.

15. What is retainage? Why should a contractor be concerned with a retainage clause in a contract?
Both extreme hot and cold will tend to slow down the pace of 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.
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
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

16. 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.
False
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 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.

17. Under what conditions are wage premiums applied
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
Renting - Leasing - Buying
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps
True

18. 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 gross unit such as the number of hospital beds is used.
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor

19. Where would information be found on whether a bid bond was required and - if so - its amount?
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors
Internal Factor - External Factor - Project Related-Factor
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
Change Order

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

21. Describe the composition of the Building Cost Index (BCI).
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
False
Skilled labor and material portions
Bid Bond

22. Name two systems that establish standards for the building design/construction estimating process.
Common labor and material portions
Master Format and Uniformat
Lump-Sum Estimate - Unit Price Estimate
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.

23. 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 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 most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
Addenda
Common labor and material portions

24. The location where material can be stored in relationship to the construction project affects productivity.
Change Order
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.
Both extreme hot and cold will tend to slow down the pace of work.
True

25. 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.
Change Order
Scheduling overtime for more than several weeks can result in huge productivity losses.
Lavatory
The Labor Hour

26. What are the two most common methods by which a contractor can acquire a construction contract?
Direct Negotiation - Competitive Bidding
As-built drawings
True
Skilled labor and material portions

27. What is the payment bond?
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 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 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.
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

28. What is the bid bond and how does it protect the owner?
Skilled labor and material portions
True
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
False

29. Construction estimating is more an art than a science
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
Punch List
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.

30. Five basic skills everyone should master

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

31. What types of information are provided in the Invitation to Bid?
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
...
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 loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence

32. What unit of time is used to measure labor?
Lavatory
True
The Labor Hour
True

33. A surety bond guaranteeing that a bidder will sign a contract - if offered - in accordance with their proposal.
Bid Bond
False
Contract Documents
False

34. Proposal prepared by prospective contractor specifying the charges to be made for doing the work in accordance with the contract documents.
Contract Documents
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
Bid

35. What is the maintenance bond?
Direct Negotiation - Competitive Bidding
Contract Documents
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
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.

36. Order of Magnitude Estimate...
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
A gross unit such as the number of hospital beds is used.
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.
...

37. The information provided in the General Conditions and Supplementary General Conditions does not influence the project cost.
False
Skilled labor and material portions
True
Scheduling overtime for more than several weeks can result in huge productivity losses.

38. Describe and provide examples of specific use equipment and general use 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.
...
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps
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

39. 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.
True
Renting - Leasing - Buying

40. 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
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.
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
Lump-Sum Estimate - Unit Price Estimate

41. The most reliable productivity rates come from historical data
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
Both extreme hot and cold will tend to slow down the pace of work.
True
Instruction to bidders

42. A good database of past project experiences is essential to preparing a quick and accurate estimate.
Skilled labor and material portions
True
Punch List
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors

43. The information provided in the General Conditions and Supplementary General Conditions does not influence the project cost.
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.
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
False

44. Assemblies Estimate...
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
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.
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
Liens

45. The equipment used on construction projects can be divided into three categories: Owned - leased - and rented.
Addenda
Liquidated Damages
True
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work

46. What is estimating in construction?
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
True
...
The ability to procure the right piece of equipment for the job when the unit is needed

47. Describe the composition of the Building Cost Index (BCI).
Skilled labor and material portions
Liens
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

48. Five basic skills everyone should master

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

49. The equipment used on construction projects can be divided into three categories: Owned - leased - and rented.
True
Scheduling overtime for more than several weeks can result in huge productivity losses.
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
Renting - Leasing - Buying

50. What are the advantages to a small contractor of renting equipment instead of owning?
False
Contract Documents
Instruction to bidders
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.