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. The assembly of components to form the completed portion of a job.
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.
Erection
Invitation to bid
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.

2. How do climatic conditions influence the amount of work actually completed in an hour?
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
Both extreme hot and cold will tend to slow down the pace of work.

3. What is the bid bond and how does it protect the owner?
Bid Bond
Lavatory
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor
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

4. Proposal prepared by prospective contractor specifying the charges to be made for doing the work in accordance with the contract documents.
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
Skilled labor and material portions
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.

5. What is depreciation?
Liens
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
True

6. What is the best source for productivity data?

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183

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

8. The equipment used on construction projects can be divided into three categories: Owned - leased - and rented.
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.
True
The ability to procure the right piece of equipment for the job when the unit is needed
Common labor and material portions

9. Five basic skills everyone should master

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183

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

11. A document stating the procedures to be followed by 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.
Instruction to bidders
Direct Negotiation - Competitive Bidding
Change Order

12. Working drawings - specifications - general conditions - supplementary general conditions - the owner-contractor agreement - and all addenda (if issued).
Internal Factor - External Factor - Project Related-Factor
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
Contract Documents
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.

13. What types of information are provided in the Invitation to Bid?
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.
Joist
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
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.

14. Why is it a good idea for the general contractor to perform quantity surveys on work that is to be subcontracted out?

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183

15. 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.
Foundation
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project

16. Under what conditions are wage premiums applied
Change Order
True
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
Direct Negotiation - Competitive Bidding

17. What is the performance bond?
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
True
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.

18. Assemblies 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.
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.
Change Order

19. Describe the composition of the Building Cost Index (BCI).
False
Skilled labor and material portions
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.
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.

20. The substructure that supports a building or other structure.
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
Foundation
As-built drawings
True

21. 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.
Invitation to bid
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.
As-built drawings
Addenda

22. Working drawings - specifications - general conditions - supplementary general conditions - the owner-contractor agreement - and all addenda (if issued).
Common labor and material portions
Contract Documents
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 loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence

23. Explain why using overtime is not recommended for most construction projects.
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.
Scheduling overtime for more than several weeks can result in huge productivity losses.
Bid
Invitation to bid

24. Describe factors affecting the accuracy of detail cost estimating.
True
Addenda
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
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.

25. What does the labor hour represent?
Bid
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
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above

26. 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
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.
Joist

27. What is the maintenance bond?
Bid 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.
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
Internal Factor - External Factor - Project Related-Factor

28. Describe the CSI MasterFormat and how it is used.
Liquidated Damages
Liquidated Damages
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 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.

29. Legal claims against an owner for amounts due those engaged in or supplying materials for the construction of the building.
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
True
Liens
Both extreme hot and cold will tend to slow down the pace of work.

30. 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
Liquidated Damages
Lump-Sum Estimate - Unit Price Estimate
True
The Labor Hour

31. 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 ability to procure the right piece of equipment for the job when the unit is needed
Liquidated Damages
Bid Bond
Foundation

32. On certain projects the owner may accept proposals only from contractors who are invited to bid.
False
Addenda
True
Common labor and material portions

33. What is depreciation?
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
Lump-Sum Estimate - Unit Price Estimate
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
Liquidated Damages

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

35. Describe the composition of the Construction Cost Index (CCI).
Common labor and material portions
The ability to procure the right piece of equipment for the job when the unit is needed
Change Order
Both extreme hot and cold will tend to slow down the pace of work.

36. How are the various surety bonds that may be required on a specific project obtained?
Liquidated Damages
Bid Bond
The ability to procure the right piece of equipment for the job when the unit is needed
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.

37. 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.
Foundation
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.

38. The information provided in the General Conditions and Supplementary General Conditions does not influence the project cost.
False
Retainage
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
Liens

39. 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 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.
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors
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

40. What are the advantages to a small contractor of renting equipment instead of owning?
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.
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.
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
Scheduling overtime for more than several weeks can result in huge productivity losses.

41. 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.
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
Change Order
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project

42. Name the types of Estimates
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
True

43. Name the types of Estimates
Common labor and material portions
A gross unit such as the number of hospital beds is used.
Erection
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate

44. The substructure that supports a building or other structure.
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
Foundation
Master Format and Uniformat
Lavatory

45. 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
Skilled labor and material portions
Renting - Leasing - Buying
Liens

46. What unit of time is used to measure labor?
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
Master Format and Uniformat
The Labor Hour
Internal Factor - External Factor - Project Related-Factor

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

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

49. What are the difficulties encountered by the estimator during the preparation of a project's conceptual estimate?
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor
Scheduling overtime for more than several weeks can result in huge productivity losses.
The Labor Hour
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work

50. A surety bond guaranteeing that a bidder will sign a contract - if offered - in accordance with their proposal.
Bid
Internal Factor - External Factor - Project Related-Factor
Bid Bond
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire