CMIT EXAM NEWEST 2024 ACTUAL EXAM 200 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+

CMIT EXAM NEWEST 2024 ACTUAL EXAM 200 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+ Under a fixed fee approach to agency CM compensation, which of the following statements is NOT true? A) The fixed fee approach can have an adverse effect on both the CM and the owner. B) Unexpected problems could require a CM to expend more costs than budgeted for staff to perform tasks. C) The CM is not expected to perform a greater level of effort than originally anticipated. D) Some believe that a temptation always exists for the CM to put forth less effort than anticipated or actually required. - ...ANSWER...C) The CM is not expected to perform a greater level of effort than originally anticipated. The cost plus fixed fee method of CM compensation can be divided into two separate phases—pre-construction and construction. True False - ...ANSWER...True Under a cost plus fixed fee arrangement for CM compensation, the reimbursable expenses usually include: A) The costs of all job-site personnel, staff relocation costs, travel and living expenses of jobsite staff. B) The costs of all job-site material, equipment, communications, vehicles, fees paid, reproduction, postage, computer, and any other reasonable field office-related expenses. C) The use of home office personnel who may be involved in purchasing, expediting, scheduling, estimating, or other direct project-related tasks. D) All of the above - ...ANSWER...D) All of the above The fee as a percentage of construction cost method of compensating an agency CM has a tendency to discourage effective time and cost control and is in conflict with the objectives and benefits of an agency construction management. True False - ...ANSWER...True In cases where a project is extended in duration for reasons beyond the control of the CM, it is imperative that the CM agreement address: A) How changes in scope and additional services will be handled. B) Extended CM services. C) The cost of additional services. D) All of the above - ...ANSWER...D) All of the above The cost reimbursement method of compensation is one of the most commonly used forms of CM compensation associated with agency CM. True False - ...ANSWER...True Under a GMP contract, with services provided by a CM-atRisk, which of the following statements is NOT true? A) The GMP is usually established on less than 100% complete drawings and specifications. B) It is important that the phrase Guaranteed Maximum Price be clearly defined in the contract regarding what it includes and excludes. C) With a GMP type CM agreement, the CM is responsible for all costs associated with the project. D) Once a GMP for construction costs is established, the CM takes on the risk for completing the project. - ...ANSWER...C) With a GMP type CM agreement, the CM is responsible for all costs associated with the project. Which of the following methods of compensation for CM services is inconsistent with the CM's agency relationship to its owner? A) Fixed fee B) Percentage of construction costs C) Multiple of direct personnel expenses D) Professional fee plus expenses - ...ANSWER...C) Multiple of direct personnel expenses An agency CM with a fixed fee compensation arrangement shares in the savings generated by a lower than planned construction cost of the project. - ...ANSWER...False It is NOT the purpose of the General Conditions to: A) Clearly define the owner and contractor rights and responsibilities. B) Provide a procedure for executing changes in the work scope in a fair and equitable manner. C) Provide a detailed scope of work. D) Clearly define the roles and responsibilities of the CM - ...ANSWER...C) Provide a detailed scope of work.