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. Explain firm price contracting estimates.
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
False
Lump-Sum Estimate - Unit Price Estimate


2. 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
True
Master Format and Uniformat
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


3. Explain why using overtime is not recommended for most construction projects.
True
True
Scheduling overtime for more than several weeks can result in huge productivity losses.
...


4. 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
Lump-Sum Estimate - Unit Price Estimate
Joist


5. Drawings made during the progress of construction - or subsequent thereto - illustrating how various elements of the project were actually installed.
Liens
...
Instruction to bidders
As-built drawings


6. Under what conditions are wage premiums applied
Lump-Sum Estimate - Unit Price Estimate
The Labor Hour
Scheduling overtime for more than several weeks can result in huge productivity losses.
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.


7. 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
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
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.
Punch List


8. How does insurance differ from a surety bond?
As-built drawings
Both extreme hot and cold will tend to slow down the pace of work.
Liquidated Damages
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.


9. Proposal prepared by prospective contractor specifying the charges to be made for doing the work in accordance with the contract documents.
Erection
Liquidated Damages
False
Bid


10. Describe and provide examples of specific use equipment and general use equipment.
Lavatory
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
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate


11. What unit of time is used to measure labor?
Lavatory
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.
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor
The Labor Hour


12. 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
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 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.
...
A gross unit such as the number of hospital beds is used.


13. Name three common methods of procuring equipment.
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.
Renting - Leasing - Buying
The Labor Hour
True


14. Working drawings - specifications - general conditions - supplementary general conditions - the owner-contractor agreement - and all addenda (if issued).
Lump-Sum Estimate - Unit Price Estimate
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
True
Contract Documents


15. Describe and provide examples of specific use equipment and general use equipment.
Common labor and material portions
Renting - Leasing - Buying
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps
False


16. What is estimating in construction?
True
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
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


17. What types of information are provided in the Invitation to Bid?
Bid Bond
Bid Bond
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
Retainage


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


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


20. Name two systems that establish standards for the building design/construction estimating process.
Retainage
Skilled labor and material portions
Master Format and Uniformat
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.


21. What is the best source for productivity data?

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22. A list prepared by the architect or engineer of the contractor's uncompleted work or work to be corrected.
Punch List
Foundation
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 estimator uses more detailed information such as the bay size - square feet of partition wall - number of plumbing fixtures - or square feet of carpet.


23. What are the benefits of renting equipment?
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
True
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.


24. List the factors affecting labor productivity
Common labor and material portions
Bid Bond
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.


25. 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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26. A surety bond guaranteeing that a bidder will sign a contract - if offered - in accordance with their proposal.
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
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
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.


27. On certain projects the owner may accept proposals only from contractors who are invited to bid.
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.
Retainage
Joist
True


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


29. What is the payment bond?
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.
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
Skilled labor and material portions


30. Describe factors affecting the accuracy of detail cost estimating.
Lavatory
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
Retainage


31. Name 10 step process to bid

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32. Describe the composition of the Construction Cost Index (CCI).
The ability to procure the right piece of equipment for the job when the unit is needed
Common labor and material portions
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
Change Order


33. A bathroom sink
Common labor and material portions
True
A gross unit such as the number of hospital beds is used.
Lavatory


34. 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
...
Liquidated Damages
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor
True


35. 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
Invitation to bid
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.


36. What unit of time is used to measure labor?
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 Labor Hour
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
Both extreme hot and cold will tend to slow down the pace of work.


37. The equipment used on construction projects can be divided into three categories: Owned - leased - and rented.
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps
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
True


38. What are the two most common methods by which a contractor can acquire a construction contract?
Direct Negotiation - Competitive Bidding
Renting - Leasing - Buying
The Labor Hour
Bid


39. Five basic skills everyone should master

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40. What is the performance bond?
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
Internal Factor - External Factor - Project Related-Factor
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps


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


42. The assembly of components to form the completed portion of a job.
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
True
Erection


43. How do climatic conditions influence the amount of work actually completed in an hour?
Punch List
Both extreme hot and cold will tend to slow down the pace of work.
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 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.


44. Name 10 step process to bid

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45. The substructure that supports a building or other structure.
Foundation
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
The ability to procure the right piece of equipment for the job when the unit is needed


46. Working drawings - specifications - general conditions - supplementary general conditions - the owner-contractor agreement - and all addenda (if issued).
Contract Documents
Scheduling overtime for more than several weeks can result in huge productivity losses.
Lump-Sum Estimate - Unit Price 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


47. Describe the composition of the Construction Cost Index (CCI).
Addenda
Common labor and material portions
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
Skilled labor and material portions


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


49. What is the performance bond?
Skilled labor and material portions
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.
Change Order
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions


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