COSC 275 PALMER ACTUAL LATEST QUESTIONS AND
ANSWERS GRADED A+
✔✔Air/Vapor Barrier is always installed on (Inside/outside) of wall. - ✔✔Inside
✔✔Roof types - ✔✔Built up roofs
Single member roofs
Metal roofs
EPDM
✔✔Self perform work general percentages
Self perform % - ✔✔15%
✔✔Self perform work general percentages
Taxes, bonds, insurance - ✔✔3%
✔✔Self perform work general percentages
General Conditions - ✔✔7%
✔✔Self perform work general percentages
Fee - ✔✔5%
✔✔Self perform work general percentages
Trade contractors - ✔✔70%
✔✔Buyout - ✔✔money that is left over when general contractor's estimate is above
subcontractor's final price
✔✔General Conditions cost - ✔✔Something required to complete the project but not
necessarily addressed in the contract documents
Trailer
Copy machine
Temporary electricity
Fence
Internet
✔✔Project overhead - ✔✔Costs specific to the job
, Personnel
Permits
Insurance
Bonds
Miscellaneous
Temporary Facilities
✔✔Main office overhead / indirect costs - ✔✔Costs incurred whether there is a project
or not
✔✔Insurance - ✔✔Fee is paid to relieve risk
✔✔General liability insurance - ✔✔Covers losses on the project that do not involve
employee injuries
✔✔Builder's risk insurance - ✔✔When work gets damaged by outside event: rain, fire,
etc.
✔✔Surety - ✔✔company that writes bonds
✔✔Bid bond - ✔✔assurance to the owner that if the contractor fails to sign contract for
proposed number, the owner can use the bond money to hire next lowest bidder
✔✔Payment bond - ✔✔protects owner form liens if contractor fails to pay all the job
costs
✔✔Performance bond - ✔✔assurance to the owner that the contract will be completed
✔✔In order to get a bond, someone has to sign a _____________ - ✔✔master surety
agreement
✔✔master surety agreement - ✔✔in the event of a loss, anything the company AND
person owns, the surety can take
✔✔Column - ✔✔A long, relatively slender, supporting pillar. A column is usually loaded
axially in compression
✔✔Beam - ✔✔A structural member that primarily resists loads applied laterally to the
axis
✔✔Joist - ✔✔Parallel beams of lumber, concrete, or steel used to support floor and
ceiling systems.
ANSWERS GRADED A+
✔✔Air/Vapor Barrier is always installed on (Inside/outside) of wall. - ✔✔Inside
✔✔Roof types - ✔✔Built up roofs
Single member roofs
Metal roofs
EPDM
✔✔Self perform work general percentages
Self perform % - ✔✔15%
✔✔Self perform work general percentages
Taxes, bonds, insurance - ✔✔3%
✔✔Self perform work general percentages
General Conditions - ✔✔7%
✔✔Self perform work general percentages
Fee - ✔✔5%
✔✔Self perform work general percentages
Trade contractors - ✔✔70%
✔✔Buyout - ✔✔money that is left over when general contractor's estimate is above
subcontractor's final price
✔✔General Conditions cost - ✔✔Something required to complete the project but not
necessarily addressed in the contract documents
Trailer
Copy machine
Temporary electricity
Fence
Internet
✔✔Project overhead - ✔✔Costs specific to the job
, Personnel
Permits
Insurance
Bonds
Miscellaneous
Temporary Facilities
✔✔Main office overhead / indirect costs - ✔✔Costs incurred whether there is a project
or not
✔✔Insurance - ✔✔Fee is paid to relieve risk
✔✔General liability insurance - ✔✔Covers losses on the project that do not involve
employee injuries
✔✔Builder's risk insurance - ✔✔When work gets damaged by outside event: rain, fire,
etc.
✔✔Surety - ✔✔company that writes bonds
✔✔Bid bond - ✔✔assurance to the owner that if the contractor fails to sign contract for
proposed number, the owner can use the bond money to hire next lowest bidder
✔✔Payment bond - ✔✔protects owner form liens if contractor fails to pay all the job
costs
✔✔Performance bond - ✔✔assurance to the owner that the contract will be completed
✔✔In order to get a bond, someone has to sign a _____________ - ✔✔master surety
agreement
✔✔master surety agreement - ✔✔in the event of a loss, anything the company AND
person owns, the surety can take
✔✔Column - ✔✔A long, relatively slender, supporting pillar. A column is usually loaded
axially in compression
✔✔Beam - ✔✔A structural member that primarily resists loads applied laterally to the
axis
✔✔Joist - ✔✔Parallel beams of lumber, concrete, or steel used to support floor and
ceiling systems.
