Test Bank For Fundamentals of Construction Estimating - 4th - 2019 All Chapters - 9781337399395

,Test Bank For Fundamentals of Construction Estimating 4th Edition
Chapter 1. Introduction.
1. We put together estimates all the time in our everyday lives, often with little or no calculating.
a. True
b. False
ANSWER: True
POINTS: 1
REFERENCES: 2
QUESTION TYPE: True / False
HAS VARIABLES: False
DATE CREATED: 12/6/2017 8:34 AM
DATE MODIFIED: 12/6/2017 8:34 AM

2. As costs and benefits are usually extended over a number of years, monetary value of a project will normally be
determined by means of “future worth” analysis or other “time value of money” concepts.
a. True
b. False
ANSWER: False
POINTS: 1
REFERENCES: 4
QUESTION TYPE: True / False
HAS VARIABLES: False
DATE CREATED: 12/6/2017 8:34 AM
DATE MODIFIED: 12/6/2017 8:34 AM

3. The different project delivery systems use the same types of estimates— conceptual, preliminary and detailed—at
various stages in the development of the project.
a. True
b. False
ANSWER: False
POINTS: 1
REFERENCES: 6
QUESTION TYPE: True / False
HAS VARIABLES: False
DATE CREATED: 12/6/2017 8:34 AM
DATE MODIFIED: 12/6/2017 8:34 AM

4. With the design-build method, the owner indicates that he or she requires a certain facility and usually outlines some
parameters relating to location, size, design, and the desired time of occupancy.
a. True
b. False
ANSWER: True
POINTS: 1
REFERENCES: 9
QUESTION TYPE: True / False
HAS VARIABLES: False



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,Test Bank For Fundamentals of Construction Estimating 4th Edition
Chapter 1. Introduction.
DATE CREATED: 12/6/2017 8:34 AM
DATE MODIFIED: 1/3/2018 9:13 AM

5. Most general contractors and subtrades enter into cost-plus contracts in order to perform a defined scope of work.
a. True
b. False
ANSWER: False
POINTS: 1
REFERENCES: 10
QUESTION TYPE: True / False
HAS VARIABLES: False
DATE CREATED: 12/6/2017 8:34 AM
DATE MODIFIED: 1/3/2018 9:14 AM

6. The Occupational Safety and Health Administration (OSHA) safety standards are the law, and contractors who fail to
comply with the requirements of this legislation face possible fines or even imprisonment.
a. True
b. False
ANSWER: True
POINTS: 1
REFERENCES: 13
QUESTION TYPE: True / False
HAS VARIABLES: False
DATE CREATED: 12/6/2017 8:34 AM
DATE MODIFIED: 1/3/2018 9:51 AM

7. A(n) ____ in its essence is an assessment of the probable total cost of some future activity.
a. proposal b. bid
c. estimate d. specification
ANSWER: c
POINTS: 1
REFERENCES: 2
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
DATE CREATED: 12/6/2017 8:34 AM
DATE MODIFIED: 12/6/2017 8:34 AM

8. A ____ estimate has to be prepared from a minimum amount of information because it is required at a time when the
project is often little more than a vague idea in the mind of the owner.
a. preliminary b. conceptual
c. design d. bidding
ANSWER: b
POINTS: 1
REFERENCES: 2


2

, Test Bank For Fundamentals of Construction Estimating 4th Edition
Chapter 1. Introduction.
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
DATE CREATED: 12/6/2017 8:34 AM
DATE MODIFIED: 12/6/2017 8:34 AM

9. Once the design of a project is under way, budget amounts can be established for the various elements of the project
using procedures for a ____ estimate.
a. conceptual b. preliminary
c. design d. final
ANSWER: b
POINTS: 1
REFERENCES: 2
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
DATE CREATED: 12/6/2017 8:34 AM
DATE MODIFIED: 1/3/2018 9:16 AM

10. Cost budgets are compiled in a ____, which is a summary of all anticipated project expenditures.
a. cost plan b. cost analysis
c. cost estimate d. value analysis
ANSWER: a
POINTS: 1
REFERENCES: 2
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
DATE CREATED: 12/6/2017 8:34 AM
DATE MODIFIED: 1/3/2018 9:16 AM

11. In the process of __________, the estimated cost of each element in the cost plan is compared with the perceived
value of that element to consider if the sum allocated to that component part of the building is justified.
a. budget analysis b. budget accounting
c. value analysis d. value accounting
ANSWER: c
POINTS: 1
REFERENCES: 5
QUESTION TYPE: Multiple Choice
HAS VARIABLES: False
DATE CREATED: 12/6/2017 8:34 AM
DATE MODIFIED: 1/3/2018 9:24 AM

12. A construction management organization seeks to facilitate overlap between project stages, often referred to as ____,
to allow earlier completion of the project.
a. parallel phasing b. fast tracking
c. project rollout d. simultaneous staging



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