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. Name two systems that establish standards for the building design/construction estimating process.
Skilled labor and material portions
Master Format and Uniformat
Skilled labor and material portions
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed Estimate

2. What does the labor hour represent?
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
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.

3. Explain why using overtime is not recommended for most construction projects.
True
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
Scheduling overtime for more than several weeks can result in huge productivity losses.
The Labor Hour

4. Five basic skills everyone should master

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

5. What does the labor hour represent?
Contract Documents
The amount of work that can be done in an hour
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. 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

6. 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
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
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. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs

7. stimating labor requires determining the number of work hours to do a specific task and then applying the wage rate.
Skilled labor and material portions
The ability to procure the right piece of equipment for the job when the unit is needed
Direct Negotiation - Competitive Bidding
True

8. Five basic skills everyone should master

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

9. What is the maintenance bond?
Contract Documents
True
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.

10. What are some of the costs that must be included in equipment operating costs?
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 Labor Hour
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire

11. Assemblies Estimate...
Internal Factor - External Factor - Project Related-Factor
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.
False
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project

12. 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.
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.
Liquidated Damages

13. Legal claims against an owner for amounts due those engaged in or supplying materials for the construction of the building.
Master Format and Uniformat
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
Liens
Internal Factor - External Factor - Project Related-Factor

14. What unit of time is used to measure labor?
Lump-Sum Estimate - Unit Price Estimate
The Labor Hour
Retainage
Internal Factor - External Factor - Project Related-Factor

15. Proposal prepared by prospective contractor specifying the charges to be made for doing the work in accordance with the contract documents.
Direct Negotiation - Competitive Bidding
Liens
Bid
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.

16. A sum withheld from each payment to the contractor in accordance with the terms of the owner-contractor agreement.
...
Change Order
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors
Retainage

17. Drawings made during the progress of construction - or subsequent thereto - illustrating how various elements of the project were actually installed.
False
Common labor and material portions
As-built drawings
True

18. The most reliable productivity rates come from historical data
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
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

19. 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.
Instruction to bidders
False
Change Order
Erection

20. Drawings made during the progress of construction - or subsequent thereto - illustrating how various elements of the project were actually installed.
Liens
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
As-built drawings
The amount of work that can be done in an hour

21. A surety bond guaranteeing that a bidder will sign a contract - if offered - in accordance with their proposal.
Bid Bond
Change Order
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
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors

22. What are the difficulties encountered by the estimator during the preparation of a project's conceptual estimate?
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.
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor
True
Direct Negotiation - Competitive Bidding

23. What is retainage? Why should a contractor be concerned with a retainage clause in a contract?
The amount of work that can be done in an hour
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
Both extreme hot and cold will tend to slow down the pace of work.

24. 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.
True
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor
Addenda

25. What is estimating in construction?
Joist
Bid Bond
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
Skilled labor and material portions

26. Closely spaced beams supporting a floor or ceiling.They may be wood - steel - or concrete.
The ability to procure the right piece of equipment for the job when the unit is needed
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
Skilled labor and material portions
Joist

27. What are some of the factors a contractor considers when making a decision to bid?
Internal Factor - External Factor - Project Related-Factor
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.
False
True

28. The location where material can be stored in relationship to the construction project affects productivity.
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
Instruction to bidders
...
True

29. What is the performance bond?
Internal Factor - External Factor - Project Related-Factor
Bid
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

30. What is estimating in construction?
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.
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
Change Order

31. What are the advantages to a small contractor of renting equipment instead of owning?
True
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
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.

32. The most reliable productivity rates come from historical data
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.
True
Retainage
A gross unit such as the number of hospital beds is used.

33. The substructure that supports a building or other structure.
Foundation
Change Order
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.

34. 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

35. What types of information are provided in the Invitation to Bid?
Retainage
False
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
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

36. 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
False
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

37. The assembly of components to form the completed portion of a job.
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
Erection
Lavatory
Change Order

38. Describe and provide examples of specific use equipment and general use equipment.
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
Common labor and material portions
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps
Punch List

39. Explain why using overtime is not recommended for most construction projects.
Scheduling overtime for more than several weeks can result in huge productivity losses.
The Labor Hour
True
Skilled labor and material portions

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

41. What is the payment bond?
Instruction to bidders
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.
Liquidated Damages
Addenda

42. What are the benefits of renting equipment?
Liens
Renting - Leasing - Buying
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 ability to procure the right piece of equipment for the job when the unit is needed

43. Describe the composition of the Construction Cost Index (CCI).
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
Common labor and material portions
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.
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

44. An invitation to a selected list of contractors furnishing information on the submission of bids on a subject.
Invitation to bid
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions
True

45. stimating labor requires determining the number of work hours to do a specific task and then applying the wage rate.
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.
Skilled labor and material portions
Published cost standards seldom represent 100% of the project under consideration.The location factor -The time factor

46. What is depreciation?
Liquidated Damages
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
Punch List
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

47. Construction estimating is more an art than a science
True
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a 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.

48. Name the types of Estimates
The amount of work that can be done in an hour
Order of Magnitude Estimate - Square foot and cubic foot estimate - Assemblies(Systems estimate) - Detailed 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
The ability to procure the right piece of equipment for the job when the unit is needed

49. What types of information are provided in the Invitation to 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
Addenda
Change Order
Contract Documents

50. What is the maintenance 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.
Internal Factor - External Factor - Project Related-Factor
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.
True