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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. Legal claims against an owner for amounts due those engaged in or supplying materials for the construction of the building.
Liens
The Labor Hour
Scheduling overtime for more than several weeks can result in huge productivity losses.
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project

2. What are the two most common methods by which a contractor can acquire a construction contract?
Kept on the site over a longer period of time - throughout almost the entire construction phase.Cranes; Air compressors; Floodlights and light towersForklifts; Pumps
Direct Negotiation - Competitive Bidding
Internal Factor - External Factor - Project Related-Factor
Erection

3. The information provided in the General Conditions and Supplementary General Conditions does not influence the project cost.
The Labor Hour
Instruction to bidders
False
Direct Negotiation - Competitive Bidding

4. What does the labor hour represent?
True
Bid Bond
The amount of work that can be done in an hour
Erection

5. Name 10 step process to bid

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6. Closely spaced beams supporting a floor or ceiling.They may be wood - steel - or concrete.
True
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
False
Joist

7. A list prepared by the architect or engineer of the contractor's uncompleted work or work to be corrected.
Contract Documents
Punch List
Joist
Addenda

8. A document stating the procedures to be followed by bidders.
False
...
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.
Instruction to bidders

9. What is the maintenance bond?
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 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 gross unit such as the number of hospital beds is used.

10. Construction estimating is more an art than a science
Bid Bond
Instruction to bidders
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.
True

11. A good database of past project experiences is essential to preparing a quick and accurate 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.
Bid Bond
True
False

12. An invitation to a selected list of contractors furnishing information on the submission of bids on a subject.
Direct Negotiation - Competitive Bidding
The ability to procure the right piece of equipment for the job when the unit is needed
Invitation to bid
Instruction to bidders

13. Operation costs include...
Lump-Sum Estimate - Unit Price Estimate
The ability to procure the right piece of equipment for the job when the unit is needed
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
Contract Documents

14. Legal claims against an owner for amounts due those engaged in or supplying materials for the construction of the building.
Liens
Instruction to bidders
Direct Negotiation - Competitive Bidding
True

15. What is the performance bond?
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 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.
Lump-Sum Estimate - Unit Price Estimate
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

16. What types of information are provided in the Invitation to Bid?
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
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
True

17. Assemblies Estimate...
False
Both extreme hot and cold will tend to slow down the pace of 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
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.

18. Working drawings - specifications - general conditions - supplementary general conditions - the owner-contractor agreement - and all addenda (if issued).
Common labor and material portions
Addenda
Direct Negotiation - Competitive Bidding
Contract Documents

19. On certain projects the owner may accept proposals only from contractors who are invited to bid.
Invitation to bid
1. Construction Materials 2. Erection Labor 3. Fixed Equipment Costs
True
Lavatory

20. The substructure that supports a building or other structure.
Overtime work - shift work - hazardous work conditions - or unusually strenuous work.
Lump-Sum Estimate - Unit Price Estimate
True
Foundation

21. Working drawings - specifications - general conditions - supplementary general conditions - the owner-contractor agreement - and all addenda (if issued).
Bid
Contract Documents
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.

22. Operation costs include...
A. Tires and other wear itemsb. Fuel - lubricants - and filtersc. Repair reservesd. All of the above
Direct Negotiation - Competitive Bidding
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
Truly - its both - it will never be a science. Estimators rely on their - intuition - past experience - judgment and sometimes guesses.

23. Assemblies 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
Scheduling overtime for more than several weeks can result in huge productivity losses.
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.

24. What is estimating in construction?
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence
Both extreme hot and cold will tend to slow down the pace of work.
Predicting the cost in advance based on a model (formal or informal - plans and specifications) of a project
Liquidated Damages

25. Describe and provide examples of specific use equipment and general use equipment.
Invitation to bid
The most reliable productivity records are the contractor's own historical data based on actual experiences performing similar work
False
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors

26. What are the benefits of renting equipment?
Contract Documents
Bid Bond
The Labor Hour
The ability to procure the right piece of equipment for the job when the unit is needed

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

28. Describe the composition of the Construction Cost Index (CCI).
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.
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
Operating costs include everything required to operate each piece of equipment.Fuel - Grease and Oil - Electricity and Tire
Common labor and material portions

29. What is depreciation?
Change Order
As-built drawings
True
The loss in value of equipment that the contractor owns.The loss is a result of age - wear and tear - and obsolescence

30. A document stating the procedures to be followed by bidders.
Master Format and Uniformat
Joist
Internal Factor - External Factor - Project Related-Factor
Instruction to bidders

31. How are the various surety bonds that may be required on a specific project obtained?
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.
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
Liquidated Damages

32. What are some of the factors a contractor considers when making a decision 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.
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
Bid

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

34. A surety bond guaranteeing that a bidder will sign a contract - if offered - in accordance with their proposal.
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 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
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.

35. 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
Skilled labor and material portions
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.

36. 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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37. The information provided in the General Conditions and Supplementary General Conditions does not influence the project cost.
Master Format and Uniformat
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
Erection

38. What is the maintenance bond?
Invitation to bid
True
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.

39. stimating labor requires determining the number of work hours to do a specific task and then applying the wage rate.
Liquidated Damages
True
Units are assignable to jobs and are not shared by other subcontractors. Tractors; Scrapers; Front shovels; Hoes; Loaders and backhoe loaders; Hauling units; Compactors
Master Format and Uniformat

40. 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
Common labor and material portions
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
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.
...

41. What unit of time is used to measure labor?
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
The Labor Hour

42. Name three common methods of procuring equipment.
Renting - Leasing - Buying
The amount of work that can be done in an hour
Bid bond requirements are stated in the advertisement of Bidders.They are usually amplified in the specifications.
External factors: market conditions and climatic conditions; beyond the control of the contractors.Internal factors: work conditions and management conditions

43. What is the payment bond?
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 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.
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 ability to procure the right piece of equipment for the job when the unit is needed

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

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

46. 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.
Contract Documents
Both extreme hot and cold will tend to slow down the pace of work.
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.

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

48. What is the best source for productivity data?

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49. A surety bond guaranteeing that a bidder will sign a contract - if offered - in accordance with their proposal.
Contract Documents
False
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.
Bid Bond

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