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CCIFP Questions and Correct Answers/
Latest Update / Already Graded
Areas of dispute broad claim categories
Ans: delays, disruption, changes in scope, changed conditions,
termination
Contractor Damages Formula
Ans: Actual Cost + Profit + OH - Owner Payments
Construction Manager acts as a what to owner?
Ans: Business consultant to owner
Primary Methods of resolving claims
Ans: arbitration, litigation, combined mediation/arbitration,
neutral evaluation, litigation
Three Principles of contract interpretation
Ans: course of performance, course of dealing, usage of trade
force majure
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Ans: excusable delay
Most common types of exculpatory clauses
Ans: inspection, familiarity of work, no damage for delay
strict liability definition
Ans: eliminates requirement that a plaintiff needs to prove
negligence and intentional conduct
Who bears the risk in unit price contracts
Ans: contractor
Eichleay Formula is used for calculating
Ans: home office overhead costs
Little Miller acts mandate
Ans: surety bonds when tax dollars are involved
exculpatory clauses
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Ans: excuse owner from responsibility for increased costs
resulting from unforeseen circumstances; absolves party from
responsibility of their own actions
consequential damages do not
Ans: ordinarily flow directly from breach of contract
indemnification clauses
Ans: holds a party harmless
what resolves indemnification
Ans: risk insurance
Federal Procurement Policy Act prohibits certain parties from:
Ans: disclosing bid or proposal information before the award of
a federal contract
apparent authority relates to what type of contract
Ans: non-governmental
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contracting officer relates to what type of contract
Ans: governmental
commonly used accounting methods for JVs:
Ans: full consolidation, partial consolidation, equity, expanded
equity, cost method
S Corps are limited to
Ans: one type of stock
competitve bid contracts are used when
Ans: owners are primarily concerned with price
discrete approach is also known as
Ans: actual cost approach
approaches for calculating contractor damages
Ans: total cost, modified total cost, estimated cost approach,
discrete approach
All rights reserved © 2025/ 2026 |
CCIFP Questions and Correct Answers/
Latest Update / Already Graded
Areas of dispute broad claim categories
Ans: delays, disruption, changes in scope, changed conditions,
termination
Contractor Damages Formula
Ans: Actual Cost + Profit + OH - Owner Payments
Construction Manager acts as a what to owner?
Ans: Business consultant to owner
Primary Methods of resolving claims
Ans: arbitration, litigation, combined mediation/arbitration,
neutral evaluation, litigation
Three Principles of contract interpretation
Ans: course of performance, course of dealing, usage of trade
force majure
All rights reserved © 2025/ 2026 |
, Page |2
Ans: excusable delay
Most common types of exculpatory clauses
Ans: inspection, familiarity of work, no damage for delay
strict liability definition
Ans: eliminates requirement that a plaintiff needs to prove
negligence and intentional conduct
Who bears the risk in unit price contracts
Ans: contractor
Eichleay Formula is used for calculating
Ans: home office overhead costs
Little Miller acts mandate
Ans: surety bonds when tax dollars are involved
exculpatory clauses
All rights reserved © 2025/ 2026 |
, Page |3
Ans: excuse owner from responsibility for increased costs
resulting from unforeseen circumstances; absolves party from
responsibility of their own actions
consequential damages do not
Ans: ordinarily flow directly from breach of contract
indemnification clauses
Ans: holds a party harmless
what resolves indemnification
Ans: risk insurance
Federal Procurement Policy Act prohibits certain parties from:
Ans: disclosing bid or proposal information before the award of
a federal contract
apparent authority relates to what type of contract
Ans: non-governmental
All rights reserved © 2025/ 2026 |
, Page |4
contracting officer relates to what type of contract
Ans: governmental
commonly used accounting methods for JVs:
Ans: full consolidation, partial consolidation, equity, expanded
equity, cost method
S Corps are limited to
Ans: one type of stock
competitve bid contracts are used when
Ans: owners are primarily concerned with price
discrete approach is also known as
Ans: actual cost approach
approaches for calculating contractor damages
Ans: total cost, modified total cost, estimated cost approach,
discrete approach
All rights reserved © 2025/ 2026 |
