1 of 141
Definition
Strengths, Weaknesses, Opportunities, Threats
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The CFM should consider _____________
the components of "SWOT" or
when determining the transactions
situation analysis include?
price.
the key concept when a CFM is
The Internal Revenue Service identifying the separate
defines a long term contract as: performance obligations under the
ASC 606 is ________________
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2 of 141
,Definition
must identify and promise to transfer a good or service (or bundle of
goods and services) that are distinct
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the key concept when a CFM
the 10% method or elections is
is identifying the separate
available to contractors using the
performance obligations
_________________ to compute revenue for
under the ASC 606 is
tax purposes.
________________
insurance deductibles are an
The practice of unbalanced
example of what risk management
bidding, is referred to as...
technique?
- Bidding below cost
- Risk retention
- Overcharging
- Risk avoidance
- Front-end loading
- Risk transfer
- Job borrow
- Risk mitigation
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3 of 141
Definition
retention/retainage
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, the portion of total billing that is not required to be paid by the owner until
certain conditions are met is known as...
- Retention
- Progress payment
- Early payment discount
- Percentage of completion
five steps of strategic planning are: develop an internal understanding of existing
businesses, identify new business opportunities, ______________, develop a strategic
plan, implement the plan.
a construction company should record interest rate swaps purchased for
business purposes using which method of valuation?
- Intrinsic value
- Fair market value
- Net present value
- Discounted value
in the construction industry, a profit center is normally considered to be....
- Unallocated indirect costs
- Each individual construction contract
- Purchase discounts earned
- A signed work order
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4 of 141
Term
A construction managers role is to ____________ 29.02
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, any contract for the manufacture, building, installation, or construction of
property if the contract is not completed within the contracting year
Davis-Bacon Act
- Executive Order 11246 - Focuses on prohibiting federal contractors from
discriminating in employment decisions based on race, color, religion, sex, or
national origin.
- The Rehabilitation Act of 1973 - Prohibits discrimination on the basis of disability
in programs conducted by federal agencies or receiving federal financial
assistance.
The Davis-Bacon Act - Requires payment of prevailing wages on public works
projects for laborers and mechanics. While it relates to wages, it does not
directly regulate overtime pay.
- The Equal Pay Act of 1963 - Prohibits wage discrimination based on sex for jobs
requiring equal skill, effort, and responsibility. Primarily addresses wage equality,
not overtime pay.
Fair Market Value
plan, coordinate, budget, and supervise construction projects from start to
finish
Don't know?
5 of 141
Definition
Percentage of Completion Method
Definition
Strengths, Weaknesses, Opportunities, Threats
Give this one a try later!
The CFM should consider _____________
the components of "SWOT" or
when determining the transactions
situation analysis include?
price.
the key concept when a CFM is
The Internal Revenue Service identifying the separate
defines a long term contract as: performance obligations under the
ASC 606 is ________________
Don't know?
2 of 141
,Definition
must identify and promise to transfer a good or service (or bundle of
goods and services) that are distinct
Give this one a try later!
the key concept when a CFM
the 10% method or elections is
is identifying the separate
available to contractors using the
performance obligations
_________________ to compute revenue for
under the ASC 606 is
tax purposes.
________________
insurance deductibles are an
The practice of unbalanced
example of what risk management
bidding, is referred to as...
technique?
- Bidding below cost
- Risk retention
- Overcharging
- Risk avoidance
- Front-end loading
- Risk transfer
- Job borrow
- Risk mitigation
Don't know?
3 of 141
Definition
retention/retainage
Give this one a try later!
, the portion of total billing that is not required to be paid by the owner until
certain conditions are met is known as...
- Retention
- Progress payment
- Early payment discount
- Percentage of completion
five steps of strategic planning are: develop an internal understanding of existing
businesses, identify new business opportunities, ______________, develop a strategic
plan, implement the plan.
a construction company should record interest rate swaps purchased for
business purposes using which method of valuation?
- Intrinsic value
- Fair market value
- Net present value
- Discounted value
in the construction industry, a profit center is normally considered to be....
- Unallocated indirect costs
- Each individual construction contract
- Purchase discounts earned
- A signed work order
Don't know?
4 of 141
Term
A construction managers role is to ____________ 29.02
Give this one a try later!
, any contract for the manufacture, building, installation, or construction of
property if the contract is not completed within the contracting year
Davis-Bacon Act
- Executive Order 11246 - Focuses on prohibiting federal contractors from
discriminating in employment decisions based on race, color, religion, sex, or
national origin.
- The Rehabilitation Act of 1973 - Prohibits discrimination on the basis of disability
in programs conducted by federal agencies or receiving federal financial
assistance.
The Davis-Bacon Act - Requires payment of prevailing wages on public works
projects for laborers and mechanics. While it relates to wages, it does not
directly regulate overtime pay.
- The Equal Pay Act of 1963 - Prohibits wage discrimination based on sex for jobs
requiring equal skill, effort, and responsibility. Primarily addresses wage equality,
not overtime pay.
Fair Market Value
plan, coordinate, budget, and supervise construction projects from start to
finish
Don't know?
5 of 141
Definition
Percentage of Completion Method
