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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. Legal claims against an owner for amounts due those engaged in or supplying materials for the construction of the building.
Liens
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
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
False

2. 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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3. What does the labor hour represent?
As-built drawings
The amount of work that can be done in an hour
True
True

4. What are the two most common methods by which a contractor can acquire a construction contract?
Direct Negotiation - Competitive Bidding
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.
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above

5. A document stating the procedures to be followed by bidders.
Master Format and Uniformat
Bid Bond
Instruction to bidders
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. Name 10 step process to bid

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

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

9. 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.
Renting - Leasing - Buying
Contract Documents
Both extreme hot and cold will tend to slow down the pace of work.

10. 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
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

11. Under what conditions are wage premiums applied
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
Foundation
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
Both extreme hot and cold will tend to slow down the pace of work.

12. Five basic skills everyone should master

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

14. What is the maintenance bond?
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.
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
Liens
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.

15. 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.
Direct Negotiation - Competitive Bidding
Addenda
Instruction to bidders
Liquidated Damages

16. What are some of the factors a contractor considers when making a decision to bid?
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
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.
Bid
Internal Factor - External Factor - Project Related-Factor

17. An invitation to a selected list of contractors furnishing information on the submission of bids on a subject.
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.
The amount of work that can be done in an hour
Invitation to bid
Bid

18. A surety bond guaranteeing that a bidder will sign a contract - if offered - in accordance with their proposal.
Instruction to bidders
Punch List
Bid Bond
True

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

20. Order of Magnitude Estimate...
A gross unit such as the number of hospital beds is used.
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.
Foundation
Punch List

21. Describe the CSI MasterFormat and how it is used.
True
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
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.
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence

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

23. 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
Both extreme hot and cold will tend to slow down the pace of work.
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
Contract Documents
...

24. Working drawings - specifications - general conditions - supplementary general conditions - the owner-contractor agreement - and all addenda (if issued).
Joist
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.
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.
Contract Documents

25. What is the performance bond?
The amount of work that can be done in an hour
...
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.
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.

26. What is retainage? Why should a contractor be concerned with a retainage clause in a contract?
Change Order
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.
As-built drawings
Liquidated Damages

27. Operation costs include...
...
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
Scheduling overtime for more than several weeks can result in huge productivity losses.
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire

28. The location where material can be stored in relationship to the construction project affects productivity.
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor
The ability to procure the right piece of equipment for the job when the unit is needed
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.
True

29. Working drawings - specifications - general conditions - supplementary general conditions - the owner-contractor agreement - and all addenda (if issued).
False
Both extreme hot and cold will tend to slow down the pace of work.
False
Contract Documents

30. What does the labor hour represent?
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.
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.
Internal Factor - External Factor - Project Related-Factor
The amount of work that can be done in an hour

31. The substructure that supports a building or other structure.
Skilled labor and material portions
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
Joist
Foundation

32. 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.
Skilled labor and material portions
Retainage
Change Order
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.

33. Describe and provide examples of specific use equipment and general use equipment.
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors
Contract Documents
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
Joist

34. How do climatic conditions influence the amount of work actually completed in an hour?
Liens
Bid
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
Both extreme hot and cold will tend to slow down the pace of work.

35. On certain projects the owner may accept proposals only from contractors who are invited to bid.
Liens
Direct Negotiation - Competitive Bidding
False
True

36. stimating labor requires determining the number of work hours to do a specific task and then applying the wage rate.
The Labor 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
Addenda
True

37. What are some of the costs that must be included in equipment operating costs?
The amount of work that can be done in an hour
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
Change Order

38. The equipment used on construction projects can be divided into three categories: Owned - leased - and rented.
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
Liens
Lump-Sum Estimate - Unit Price Estimate

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

40. Describe the composition of the Construction Cost Index (CCI).
Common labor and material portions
Liquidated Damages
Lump-Sum Estimate - Unit Price Estimate
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.

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

42. The most reliable productivity rates come from historical data
Skilled labor and material portions
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
Scheduling overtime for more than several weeks can result in huge productivity losses.
True

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

44. Name three common methods of procuring equipment.
Change Order
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
False
Renting - Leasing - Buying

45. The most reliable productivity rates come from historical data
True
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 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 amount of work that can be done in an hour

46. 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.
Both extreme hot and cold will tend to slow down the pace of work.
Change Order
Common labor and material portions
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.

47. 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 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.
...
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor

48. A bathroom sink
Lavatory
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
Internal Factor - External Factor - Project Related-Factor

49. How do climatic conditions influence the amount of work actually completed in an hour?
Bid Bond
Invitation to bid
Skilled labor and material portions
Both extreme hot and cold will tend to slow down the pace of work.

50. 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
Bid Bond
False
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.