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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. On certain projects the owner may accept proposals only from contractors who are invited to bid.
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
Change Order
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.

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. Order of Magnitude Estimate...
A gross unit such as the number of hospital beds is used.
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.
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
Bid Bond

4. Name the types of Estimates
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 loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate

5. Where the project will be constructed does not have a major influence in the preparation of an estimate.
Liens
True
False
The Labor Hour

6. What are the advantages to a small contractor of renting equipment instead of owning?
...
Erection
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
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.

7. Closely spaced beams supporting a floor or ceiling.They may be wood - steel - or concrete.
Joist
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.
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

8. Name 10 step process to bid

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9. The equipment used on construction projects can be divided into three categories: Owned - leased - and rented.
The ability to procure the right piece of equipment for the job when the unit is needed
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.
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above

10. What are the difficulties encountered by the estimator during the preparation of a project's conceptual estimate?
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
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
As-built drawings
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor

11. The assembly of components to form the completed portion of a job.
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
Direct Negotiation - Competitive Bidding
Erection
Skilled labor and material portions

12. An invitation to a selected list of contractors furnishing information on the submission of bids on a subject.
Contract Documents
Invitation to 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.
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.

13. Name three common methods of procuring equipment.
Punch List
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.
Renting - Leasing - Buying
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.

14. 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.
Change Order
False
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
False

15. Operation costs include...
A gross unit such as the number of hospital beds is used.
Erection
Lump-Sum Estimate - Unit Price Estimate
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above

16. 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.
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
Erection
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

17. 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
Bid Bond
True

18. 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
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
Both extreme hot and cold will tend to slow down the pace of work.
Bid

19. What does the labor hour represent?
True
Lavatory
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 amount of work that can be done in an hour

20. Where would information be found on whether a bid bond was required and - if so - its amount?
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.
False
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
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.

21. Describe the composition of the Construction Cost Index (CCI).
Common labor and material portions
The amount of work that can be done in an hour
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
False

22. The most reliable productivity rates come from historical data
Invitation to bid
True
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.
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. The substructure that supports a building or other structure.
Bid
Liquidated Damages
Foundation
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above

24. What does the labor hour represent?
The amount of work that can be done in an hour
Renting - Leasing - Buying
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.
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions

25. What are some of the costs that must be included in equipment operating costs?
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
Liquidated Damages
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
A gross unit such as the number of hospital beds is used.

26. 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
Internal Factor - External Factor - Project Related-Factor
Renting - Leasing - Buying
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

27. Assemblies Estimate...
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.
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
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.
Common labor and material portions

28. 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
Lump-Sum Estimate - Unit Price 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
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
...

29. How are the various surety bonds that may be required on a specific project obtained?
The Labor 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.
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 most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work

30. 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.
True
Change Order
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
Lump-Sum Estimate - Unit Price Estimate

31. 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.
Addenda
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 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.
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project

32. What is the performance bond?
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.
Addenda
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.
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work

33. 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.
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.
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 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.

34. Explain why using overtime is not recommended for most construction projects.
Punch List
True
Scheduling overtime for more than several weeks can result in huge productivity losses.
Common labor and material portions

35. Five basic skills everyone should master

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36. What are the two most common methods by which a contractor can acquire a construction contract?
Erection
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
Direct Negotiation - Competitive Bidding

37. Name the types of Estimates
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
Instruction to bidders
Foundation
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate

38. A surety bond guaranteeing that a bidder will sign a contract - if offered - in accordance with their proposal.
...
The amount of work that can be done in an hour
Bid Bond
Invitation to bid

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

40. What is the bid bond and how does it protect the owner?
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
Instruction to bidders
Joist
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor

41. How do climatic conditions influence the amount of work actually completed in an hour?
A gross unit such as the number of hospital beds is used.
Both extreme hot and cold will tend to slow down the pace of work.
Change Order
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.

42. What is estimating in construction?
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
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 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.

43. Explain why using overtime is not recommended for most construction projects.
Master Format and Uniformat
Direct Negotiation - Competitive Bidding
Scheduling overtime for more than several weeks can result in huge productivity losses.
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions

44. A good database of past project experiences is essential to preparing a quick and accurate estimate.
True
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
Renting - Leasing - Buying
Lump-Sum Estimate - Unit Price Estimate

45. What is the bid bond and how does it protect the owner?
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
Contract Documents
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

46. 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
False
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
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.

47. What are the two most common methods by which a contractor can acquire a construction contract?
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.
Internal Factor - External Factor - Project Related-Factor
Punch List
Direct Negotiation - Competitive Bidding

48. The substructure that supports a building or other structure.
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 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.
Foundation
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

49. Closely spaced beams supporting a floor or ceiling.They may be wood - steel - or concrete.
Joist
Bid Bond
Retainage
Common labor and material portions

50. A sum withheld from each payment to the contractor in accordance with the terms of the owner-contractor agreement.
Retainage
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed 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.