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 are some of the costs that must be included in equipment operating costs?






2. How does insurance differ from a surety bond?






3. What is the payment bond?






4. Name the types of Estimates






5. A surety bond guaranteeing that a bidder will sign a contract - if offered - in accordance with their proposal.






6. How are the various surety bonds that may be required on a specific project obtained?






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






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






9. What are the difficulties encountered by the estimator during the preparation of a project's conceptual estimate?






10. What is depreciation?






11. An invitation to a selected list of contractors furnishing information on the submission of bids on a subject.






12. Explain firm price contracting estimates.






13. A sum withheld from each payment to the contractor in accordance with the terms of the owner-contractor agreement.






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






15. Five basic skills everyone should master


16. What is depreciation?






17. Name three common methods of procuring equipment.






18. Working drawings - specifications - general conditions - supplementary general conditions - the owner-contractor agreement - and all addenda (if issued).






19. What are the difficulties encountered by the estimator during the preparation of a project's conceptual estimate?






20. Name two systems that establish standards for the building design/construction estimating process.






21. 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.






22. What is the performance bond?






23. What are the two most common methods by which a contractor can acquire a construction contract?






24. 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






25. Why do many contractors hesitate to bid just before the expiration of a union contract?






26. A bathroom sink






27. What unit of time is used to measure labor?






28. What are some of the factors a contractor considers when making a decision to bid?






29. What is the best source for productivity data?


30. The location where material can be stored in relationship to the construction project affects productivity.






31. What are the two most common methods by which a contractor can acquire a construction contract?






32. Describe factors affecting the accuracy of detail cost estimating.






33. How does insurance differ from a surety bond?






34. Drawings made during the progress of construction - or subsequent thereto - illustrating how various elements of the project were actually installed.






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






36. Where would information be found on whether a bid bond was required and - if so - its amount?






37. Proposal prepared by prospective contractor specifying the charges to be made for doing the work in accordance with the contract documents.






38. 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.






39. Describe the CSI MasterFormat and how it is used.






40. Explain why using overtime is not recommended for most construction projects.






41. Closely spaced beams supporting a floor or ceiling.They may be wood - steel - or concrete.






42. What is the payment bond?






43. Explain why using overtime is not recommended for most construction projects.






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






45. What does the labor hour represent?






46. On certain projects the owner may accept proposals only from contractors who are invited to bid.






47. stimating labor requires determining the number of work hours to do a specific task and then applying the wage rate.






48. The most reliable productivity rates come from historical data






49. Where the project will be constructed does not have a major influence in the preparation of an estimate.






50. A surety bond guaranteeing that a bidder will sign a contract - if offered - in accordance with their proposal.