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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. 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
The amount of work that can be done in an hour
Invitation to bid
Invitation to bid

2. What is the best source for productivity data?

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3. A bathroom sink
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor
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
Lavatory
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.

4. What unit of time is used to measure labor?
Common labor and material portions
...
The Labor Hour
As-built drawings

5. What are the two most common methods by which a contractor can acquire a construction contract?
Bid
The ability to procure the right piece of equipment for the job when the unit is needed
Direct Negotiation - Competitive Bidding
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.

6. 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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7. Operation costs include...
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
True
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
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

8. Name three common methods of procuring equipment.
Foundation
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
Renting - Leasing - Buying
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.

9. 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.
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
Both extreme hot and cold will tend to slow down the pace of work.
Internal Factor - External Factor - Project Related-Factor

10. What is the maintenance bond?
True
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.
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.
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

11. What is the bid bond and how does it protect the owner?
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 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
Lavatory
False

12. Describe the composition of the Construction Cost Index (CCI).
Erection
The Labor Hour
Common labor and material portions
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.

13. Name the types of Estimates
Addenda
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
...
Direct Negotiation - Competitive Bidding

14. Order of Magnitude Estimate...
The ability to procure the right piece of equipment for the job when the unit is needed
Skilled labor and material portions
A gross unit such as the number of hospital beds is used.
Bid Bond

15. The equipment used on construction projects can be divided into three categories: Owned - leased - and rented.
True
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.
Punch List

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

17. 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 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
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
False

18. What is retainage? Why should a contractor be concerned with a retainage clause in a contract?
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.
Liens
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.
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

19. A document stating the procedures to be followed by bidders.
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
Instruction to bidders
Internal Factor - External Factor - Project Related-Factor

20. Explain why using overtime is not recommended for most construction projects.
Liens
Scheduling overtime for more than several weeks can result in huge productivity losses.
Both extreme hot and cold will tend to slow down the pace of work.
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.

21. The location where material can be stored in relationship to the construction project affects productivity.
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
False
Internal Factor - External Factor - Project Related-Factor

22. Legal claims against an owner for amounts due those engaged in or supplying materials for the construction of the building.
Liens
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
Joist
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.

23. 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 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
Liens
Liquidated Damages

24. Name three common methods of procuring equipment.
Punch List
A gross unit such as the number of hospital beds is used.
Renting - Leasing - Buying
True

25. What are some of the factors a contractor considers when making a decision to bid?
Direct Negotiation - Competitive Bidding
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.
Internal Factor - External Factor - Project Related-Factor
The Labor Hour

26. What is the bid bond and how does it protect the owner?
Master Format and Uniformat
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
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

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

28. 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.
The amount of work that can be done in an hour
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.
As-built drawings

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

30. Describe factors affecting the accuracy of detail cost estimating.
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
Liens
True

31. 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
False
As-built drawings
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.

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

33. What are the benefits of renting equipment?
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.
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors
The ability to procure the right piece of equipment for the job when the unit is needed

34. A surety bond guaranteeing that a bidder will sign a contract - if offered - in accordance with their proposal.
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
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
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors
Bid Bond

35. Assemblies Estimate...
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.
A gross unit such as the number of hospital beds is used.
True

36. A document stating the procedures to be followed by bidders.
...
Liens
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.
Instruction to bidders

37. Describe the CSI MasterFormat and how it 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.
False
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
True

38. How are the various surety bonds that may be required on a specific project obtained?
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
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.
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
Lavatory

39. The most reliable productivity rates come from historical data
True
Foundation
The ability to procure the right piece of equipment for the job when the unit is needed
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above

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

41. A sum withheld from each payment to the contractor in accordance with the terms of the owner-contractor agreement.
Retainage
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
Joist
Internal Factor - External Factor - Project Related-Factor

42. What are the benefits of renting 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
Both extreme hot and cold will tend to slow down the pace of work.
The ability to procure the right piece of equipment for the job when the unit is needed
...

43. The most reliable productivity rates come from historical data
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
Punch List
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
True

44. Describe and provide examples of specific use equipment and general use equipment.
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
The Labor Hour
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors

45. Closely spaced beams supporting a floor or ceiling.They may be wood - steel - or concrete.
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps
Renting - Leasing - Buying
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
Joist

46. An invitation to a selected list of contractors furnishing information on the submission of bids on a subject.
Addenda
Foundation
Invitation to bid
Retainage

47. Drawings made during the progress of construction - or subsequent thereto - illustrating how various elements of the project were actually installed.
As-built drawings
Master Format and Uniformat
Lavatory
False

48. Name 10 step process to bid

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49. Describe the composition of the Building Cost Index (BCI).
Skilled labor and material portions
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
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
Foundation

50. A list prepared by the architect or engineer of the contractor's uncompleted work or work to be corrected.
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.
Skilled 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.