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. Name 10 step process to bid

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2. Legal claims against an owner for amounts due those engaged in or supplying materials for the construction of the building.
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
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.
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
Liens


3. A list prepared by the architect or engineer of the contractor's uncompleted work or work to be corrected.
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
Punch List
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.
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps


4. Describe the composition of the Building Cost Index (BCI).
Master Format and Uniformat
Instruction to bidders
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.
Skilled labor and material portions


5. Order of Magnitude Estimate...
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.
Lavatory
Both extreme hot and cold will tend to slow down the pace of work.
A gross unit such as the number of hospital beds is used.


6. A document stating the procedures to be followed by bidders.
False
Contract Documents
The amount of work that can be done in an hour
Instruction to bidders


7. A good database of past project experiences is essential to preparing a quick and accurate estimate.
A gross unit such as the number of hospital beds is used.
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor
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


8. Where would information be found on whether a bid bond was required and - if so - its amount?
Common labor and material portions
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
Instruction to bidders
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.


9. How do climatic conditions influence the amount of work actually completed in an hour?
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.
Liens
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence


10. What is estimating in construction?
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
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
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.


11. What unit of time is used to measure labor?
The Labor Hour
Renting - Leasing - Buying
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.
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence


12. What are some of the factors a contractor considers when making a decision to bid?
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
True
Internal Factor - External Factor - Project Related-Factor


13. What are some of the costs that must be included in equipment operating costs?
Master Format and Uniformat
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
Erection


14. What is the best source for productivity data?

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15. Explain why using overtime is not recommended for most construction projects.
Addenda
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
Scheduling overtime for more than several weeks can result in huge productivity losses.
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


16. What is estimating in construction?
True
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps


17. How does insurance differ from a surety bond?
True
Lavatory
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
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.


18. Working drawings - specifications - general conditions - supplementary general conditions - the owner-contractor agreement - and all addenda (if issued).
Both extreme hot and cold will tend to slow down the pace of work.
Addenda
Contract Documents
Master Format and Uniformat


19. Describe and provide examples of specific use equipment and general use equipment.
The amount of work that can be done in an hour
Addenda
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


20. 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
Retainage
Liquidated Damages
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
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. stimating labor requires determining the number of work hours to do a specific task and then applying the wage rate.
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
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.
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


22. Name two systems that establish standards for the building design/construction estimating process.
Master Format and Uniformat
Instruction to bidders
Direct Negotiation - Competitive Bidding
True


23. Name the types of Estimates
Both extreme hot and cold will tend to slow down the pace of work.
Erection
Direct Negotiation - Competitive Bidding
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate


24. What does the labor hour represent?
Scheduling overtime for more than several weeks can result in huge productivity losses.
The amount of work that can be done in an hour
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.
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps


25. The equipment used on construction projects can be divided into three categories: Owned - leased - and rented.
True
Bid Bond
Contract Documents
...


26. What is the best source for productivity data?

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27. Assemblies Estimate...
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
Bid
Scheduling overtime for more than several weeks can result in huge productivity losses.
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.


28. Construction estimating is more an art than a science
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
Renting - Leasing - Buying
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
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


29. 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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30. Operation costs include...
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.
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
Punch List


31. A good database of past project experiences is essential to preparing a quick and accurate estimate.
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
False
True
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


32. Describe the composition of the Building Cost Index (BCI).
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor
Skilled labor and material portions
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above


33. Proposal prepared by prospective contractor specifying the charges to be made for doing the work in accordance with the contract documents.
...
Bid
True
Punch List


34. What are some of the factors a contractor considers when making a decision to bid?
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
Internal Factor - External Factor - Project Related-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
False


35. Five basic skills everyone should master

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36. Describe and provide examples of specific use equipment and general use equipment.
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
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
Contract Documents


37. Describe the composition of the Construction Cost Index (CCI).
Lavatory
Common labor and material portions
Contract Documents
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors


38. Describe factors affecting the accuracy of detail cost estimating.
...
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
Instruction to bidders
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work


39. How does insurance differ from a surety 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.
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.
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.


40. Closely spaced beams supporting a floor or ceiling.They may be wood - steel - or concrete.
Bid Bond
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.
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate
Joist


41. 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 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.
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.
...


42. Order of Magnitude Estimate...
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.
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.
A gross unit such as the number of hospital beds is used.
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.


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


44. What is retainage? Why should a contractor be concerned with a retainage clause in a contract?
Joist
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.
Change Order
Bid


45. Assemblies Estimate...
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
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.
Lavatory
The Labor Hour


46. Under what conditions are wage premiums applied
True
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.
Punch List
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.


47. An invitation to a selected list of contractors furnishing information on the submission of bids on a subject.
Scheduling overtime for more than several weeks can result in huge productivity losses.
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.
Bid Bond
Invitation to bid


48. List the factors affecting labor productivity
Skilled labor and material portions
Contract Documents
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
The Labor Hour


49. Explain firm price contracting estimates.
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
True
...


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