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?






2. Describe and provide examples of specific use equipment and general use equipment.






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






4. What is the maintenance bond?






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






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






7. Operation costs include...






8. Describe the composition of the Construction Cost Index (CCI).






9. Construction estimating is more an art than a science






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






11. What are the benefits of renting equipment?






12. What is the performance bond?






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






14. What is the payment bond?






15. Explain firm price contracting estimates.






16. What is depreciation?






17. What are the benefits of renting equipment?






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






19. Describe the composition of the Building Cost Index (BCI).






20. The substructure that supports a building or other structure.






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






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






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






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






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






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






27. Name three common methods of procuring equipment.






28. Operation costs include...






29. 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






30. What is estimating in construction?






31. Assemblies Estimate...






32. Order of Magnitude Estimate...






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






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






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






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






37. What is the bid bond and how does it protect the owner?






38. What is the maintenance bond?






39. 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.






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






41. What is the best source for productivity data?

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42. The equipment used on construction projects can be divided into three categories: Owned - leased - and rented.






43. List the factors affecting labor productivity






44. 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






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






46. Name the types of Estimates






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






48. Under what conditions are wage premiums applied






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






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