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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. The assembly of components to form the completed portion of a job.
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 ability to procure the right piece of equipment for the job when the unit is needed
The amount of work that can be done in an hour
Erection

2. What does the labor hour represent?
The amount of work that can be done in an hour
Bid
Lavatory
Both extreme hot and cold will tend to slow down the pace of work.

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

4. A sum withheld from each payment to the contractor in accordance with the terms of the owner-contractor agreement.
The amount of work that can be done in an hour
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
Joist

5. 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
Erection
Bid
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.

6. What are the benefits of renting equipment?
Retainage
Renting - Leasing - Buying
The ability to procure the right piece of equipment for the job when the unit is needed
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.

7. The information provided in the General Conditions and Supplementary General Conditions does not influence the project cost.
False
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
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.
True

8. A document stating the procedures to be followed by bidders.
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
Instruction to bidders
...
Common labor and material portions

9. Where the project will be constructed does not have a major influence in the preparation of an estimate.
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
Internal Factor - External Factor - Project Related-Factor
False
Master Format and Uniformat

10. How does insurance differ from a surety bond?
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.
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
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.
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.

11. Describe the composition of the Construction Cost Index (CCI).
True
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.
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.
Common labor and material portions

12. A surety bond guaranteeing that a bidder will sign a contract - if offered - in accordance with their proposal.
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 Labor Hour
Master Format and Uniformat
Bid Bond

13. Where the project will be constructed does not have a major influence in the preparation of an estimate.
False
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
Change Order

14. What does the labor hour represent?
Invitation to bid
Foundation
The amount of work that can be done in an hour
Retainage

15. The substructure that supports a building or other structure.
Foundation
Instruction to bidders
Internal Factor - External Factor - Project Related-Factor
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.

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

17. A bathroom sink
Liens
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
False

18. Name two systems that establish standards for the building design/construction estimating process.
Punch List
Master Format and Uniformat
True
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate

19. Construction estimating is more an art than a science
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
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
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate

20. What types of information are provided in the 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
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
Instruction to bidders
Renting - Leasing - Buying

21. What is the maintenance bond?
False
Instruction to bidders
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 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.

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

23. How do climatic conditions influence the amount of work actually completed in an hour?
Skilled labor and material portions
Both extreme hot and cold will tend to slow down the pace of work.
Contract Documents
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.

24. 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
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
True
False

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

26. Five basic skills everyone should master

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27. What is retainage? Why should a contractor be concerned with a retainage clause in a contract?
Master Format and Uniformat
Bid Bond
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.
Addenda

28. A good database of past project experiences is essential to preparing a quick and accurate estimate.
Lump-Sum Estimate - Unit Price 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.
Punch List
True

29. Proposal prepared by prospective contractor specifying the charges to be made for doing the work in accordance with the contract documents.
Bid
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
Change Order
Addenda

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

31. What are the two most common methods by which a contractor can acquire a construction contract?
False
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor
Direct Negotiation - Competitive Bidding
Contract Documents

32. What is the performance bond?
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
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
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.
True

33. An invitation to a selected list of contractors furnishing information on the submission of bids on a subject.
Invitation to bid
Erection
A gross unit such as the number of hospital beds is used.
True

34. Construction estimating is more an art than a science
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
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors

35. A sum withheld from each payment to the contractor in accordance with the terms of the owner-contractor agreement.
Liens
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
A gross unit such as the number of hospital beds is used.

36. Name the types of Estimates
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
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
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
The amount of work that can be done in an hour

37. What types of information are provided in the Invitation to Bid?
True
Internal Factor - External Factor - Project Related-Factor
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.
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

38. List the factors affecting labor productivity
The ability to procure the right piece of equipment for the job when the unit is needed
Invitation to bid
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management 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.

39. What is the bid bond and how does it protect the owner?
As-built drawings
False
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
True

40. What is the payment bond?
True
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.
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors

41. What is depreciation?
Master Format and Uniformat
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
Bid
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence

42. Working drawings - specifications - general conditions - supplementary general conditions - the owner-contractor agreement - and all addenda (if issued).
True
Direct Negotiation - Competitive Bidding
Contract Documents
True

43. 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
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
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
Liquidated Damages

44. What is the payment bond?
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.
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.
Bid
The Labor Hour

45. Drawings made during the progress of construction - or subsequent thereto - illustrating how various elements of the project were actually installed.
Bid Bond
...
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.
As-built drawings

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

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

48. How do climatic conditions influence the amount of work actually completed in an hour?
True
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.
True

49. What are the advantages to a small contractor of renting equipment instead of owning?
The ability to procure the right piece of equipment for the job when the unit is needed
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
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.
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.

50. Assemblies Estimate...
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
Punch List
True
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.