LSU CM EXIT EXAM 2024/2025 WITH
100% ACCURATE SOLUTIONS
The difference between a current asset and a long term asset is
______________ - Precise Answer ✔✔Current assets can be liquidated
within one year and long term assets cannot
Current Ratio - Precise Answer ✔✔This accounting ratio is calculated
by dividing the total current assets by the total current liabilities
Working capital of a construction company increases when - Precise
Answer ✔✔A company sells equipment or assets
When an owner decides to add additional work to the original scope, this
is considered what type of change? - Precise Answer ✔✔Owner
Directed Change Order
All of the following are steps that a construction company can follow in
applying risk management except one. - Precise Answer ✔✔Avoid all
risky situations.
Complete the risk statement...if a/an _______________ happens, then
the steel material for the project may cost more than the budget, which
will impact the stele subcontractors, causing an increase in the project
cost. - Precise Answer ✔✔Fluctuation in the steel price.
,Which of the following best describes risk? - Precise Answer ✔✔The
potential event that results in an outcome that is different than what's
planned.
Typical steps associated with the risk management process are identify
the risk, analyze the identified risks, _____________, allocate risks
contractually, and monitor and control risks throughout the design and
construction of a project. - Precise Answer ✔✔Mitigate and plan to
address risks.
Which of the following is not a risk identification tool and technique that
construction managers use. - Precise Answer ✔✔Value Engineering
Change Order - Precise Answer ✔✔A written order to the contractor
authorizing changes in work to the signed original documents (not the
bid documents)
An acceptance is ______________________________. - Precise
Answer ✔✔An unconditional agreement with an offer
What is the constructive acceleration? - Precise Answer ✔✔It is the
forced completion of the contract work in a shorter period than should
have been allowed by the issuance of a warranted time extension.
What is the cardinal rule of documentation and records? - Precise
Answer ✔✔Put it in writing.
, Which one of the following is NOT an alternative dispute resolution
method? - Precise Answer ✔✔Litigation
__________________ is a sum withheld from progress payments to the
contractor in accordance with the terms of
the contract - Precise Answer ✔✔Retainage (retention)
Define progress curves. - Precise Answer ✔✔A display of cumulative
costs, labor hours, or other quantities against time as s-curves.
From the following list, which tool does not help a project manager to
control costs on a project? - Precise Answer ✔✔Baseline schedules
If a project that is 40% complete has a cost variance of -$45,000, what
does this mean? - Precise Answer ✔✔The project is currently $45,000
over-budget
In earned value, if a project has a BCWP equal to $5,000, what does the
$5,000 represent? - Precise Answer ✔✔The Earned Value of the Project
Which one of the following would a project manager not find the
information needed to calculate and plot the ACWP for an earned value
analysis? - Precise Answer ✔✔Three-week look ahead schedule
100% ACCURATE SOLUTIONS
The difference between a current asset and a long term asset is
______________ - Precise Answer ✔✔Current assets can be liquidated
within one year and long term assets cannot
Current Ratio - Precise Answer ✔✔This accounting ratio is calculated
by dividing the total current assets by the total current liabilities
Working capital of a construction company increases when - Precise
Answer ✔✔A company sells equipment or assets
When an owner decides to add additional work to the original scope, this
is considered what type of change? - Precise Answer ✔✔Owner
Directed Change Order
All of the following are steps that a construction company can follow in
applying risk management except one. - Precise Answer ✔✔Avoid all
risky situations.
Complete the risk statement...if a/an _______________ happens, then
the steel material for the project may cost more than the budget, which
will impact the stele subcontractors, causing an increase in the project
cost. - Precise Answer ✔✔Fluctuation in the steel price.
,Which of the following best describes risk? - Precise Answer ✔✔The
potential event that results in an outcome that is different than what's
planned.
Typical steps associated with the risk management process are identify
the risk, analyze the identified risks, _____________, allocate risks
contractually, and monitor and control risks throughout the design and
construction of a project. - Precise Answer ✔✔Mitigate and plan to
address risks.
Which of the following is not a risk identification tool and technique that
construction managers use. - Precise Answer ✔✔Value Engineering
Change Order - Precise Answer ✔✔A written order to the contractor
authorizing changes in work to the signed original documents (not the
bid documents)
An acceptance is ______________________________. - Precise
Answer ✔✔An unconditional agreement with an offer
What is the constructive acceleration? - Precise Answer ✔✔It is the
forced completion of the contract work in a shorter period than should
have been allowed by the issuance of a warranted time extension.
What is the cardinal rule of documentation and records? - Precise
Answer ✔✔Put it in writing.
, Which one of the following is NOT an alternative dispute resolution
method? - Precise Answer ✔✔Litigation
__________________ is a sum withheld from progress payments to the
contractor in accordance with the terms of
the contract - Precise Answer ✔✔Retainage (retention)
Define progress curves. - Precise Answer ✔✔A display of cumulative
costs, labor hours, or other quantities against time as s-curves.
From the following list, which tool does not help a project manager to
control costs on a project? - Precise Answer ✔✔Baseline schedules
If a project that is 40% complete has a cost variance of -$45,000, what
does this mean? - Precise Answer ✔✔The project is currently $45,000
over-budget
In earned value, if a project has a BCWP equal to $5,000, what does the
$5,000 represent? - Precise Answer ✔✔The Earned Value of the Project
Which one of the following would a project manager not find the
information needed to calculate and plot the ACWP for an earned value
analysis? - Precise Answer ✔✔Three-week look ahead schedule
