ESTIMATING EXAM QUESTIONS AND ANSWERS
This provides the general contractor an acceptable rate of return and compensation for
the risk associated with the project. Choose the ONE best answer. - Answers - Profit
Margin
A detailed estimate determines the quantity and cost of everything required for the
project including: Select All that Apply. - Answers - Bonds, Insurance, Overhead, Labor,
Materials
Square foot estimates may be adjusted for: Choose the ONE best answer. - Answers -
Building Height
Quantity takeoff skills include: Choose the ONE best answer. - Answers - Reading and
quantifying plans
Types of bids include: Choose the ONE best answer. - Answers - Competitive and
Negotiated bids
Contract documents include: Choose the ONE best answer. - Answers - Technical
specifications and drawings
The best source of estimating information is: Choose the ONE best answer. - Answers -
Historical Data
Types of Agreements include: Select All that Apply. - Answers - Lump Sum, Unit-Price,
Cost-Plus-Fee
Real property includes: Choose the ONE best answer. - Answers - All the answers
shown
Instruction to bidders include which procedures: Choose the ONE best answer. -
Answers - All the answers shown
Which of the following statement is correct? Choose the ONE best answer. - Answers -
The advantage of the percentage fee is that it allows the owner to save fees paid to the
contractor when construction costs go down.
Document ________ should be brought to the attention of the architect or engineer.
Choose the ONE best answer. - Answers - Errors
The required level of accuracy coupled with the amount of information about the project
that is available will dictate the type of estimate that can be prepared. Which of the
following is a correct order for estimating methods from lower to higher accuracy and
time to complete? Choose the ONE best answer. - Answers - Project Comparison -
Square Foot - Parametric - Model - Assembly - Detailed
, To be able to do quantity takeoffs, the estimator must _____________. Choose the
ONE best answer. - Answers - All the answers shown
___________________ is a drawing or information that modifies the basic contract
documents after they have been issued to the bidder, but prior to the taking of bids.
They may provide clarification, correction, or changes in the other documents. Choose
the ONE best answer. - Answers - Addenda
In a _______________ agreement, the contractor agrees to construct the project in
accordance with the contract documents, for a set price arrived at through competitive
bidding or negotiation. The contractor agrees that the work will be satisfactorily
completed regardless of the difficulties encountered. Choose the ONE best answer. -
Answers - Lump-Sum
Agreement Provisions include: Choose the ONE best answer. - Answers - All the
answers shown
The type of bond which guarantees payment on another party's obligations is a
_________ bond. Choose the ONE best answer. - Answers - Surety
The type of bond which guarantees that the contractor will perform all the work in
accordance with the contract documents is a _______ bond. Choose the ONE best
answer. - Answers - Performance
________________ insurance provides benefits for workers injured or killed on the job.
Choose the ONE best answer. - Answers - Worker's Compensation
Which of the following is not an example of information that should be collected during
the site visit after making a preliminary examination of the drawings and the project
manual : Choose the ONE best answer. - Answers - Local ordinances and regulations
and note any special requirements
A _________ contractor is a separate contractor hired by the prime contractor to
perform certain portions of the work. Choose the ONE best answer. - Answers -
Specialty
The following items should be included in common errors doing estimating: Choose the
ONE best answer. - Answers - A, B, C, and D
Which of the following statements is not true regarding the benefits of computerized
estimating? Choose the ONE best answer. - Answers - Computerized estimating
packages do not allow the estimator to track where the quantities came from.
This provides the general contractor an acceptable rate of return and compensation for
the risk associated with the project. Choose the ONE best answer. - Answers - Profit
Margin
A detailed estimate determines the quantity and cost of everything required for the
project including: Select All that Apply. - Answers - Bonds, Insurance, Overhead, Labor,
Materials
Square foot estimates may be adjusted for: Choose the ONE best answer. - Answers -
Building Height
Quantity takeoff skills include: Choose the ONE best answer. - Answers - Reading and
quantifying plans
Types of bids include: Choose the ONE best answer. - Answers - Competitive and
Negotiated bids
Contract documents include: Choose the ONE best answer. - Answers - Technical
specifications and drawings
The best source of estimating information is: Choose the ONE best answer. - Answers -
Historical Data
Types of Agreements include: Select All that Apply. - Answers - Lump Sum, Unit-Price,
Cost-Plus-Fee
Real property includes: Choose the ONE best answer. - Answers - All the answers
shown
Instruction to bidders include which procedures: Choose the ONE best answer. -
Answers - All the answers shown
Which of the following statement is correct? Choose the ONE best answer. - Answers -
The advantage of the percentage fee is that it allows the owner to save fees paid to the
contractor when construction costs go down.
Document ________ should be brought to the attention of the architect or engineer.
Choose the ONE best answer. - Answers - Errors
The required level of accuracy coupled with the amount of information about the project
that is available will dictate the type of estimate that can be prepared. Which of the
following is a correct order for estimating methods from lower to higher accuracy and
time to complete? Choose the ONE best answer. - Answers - Project Comparison -
Square Foot - Parametric - Model - Assembly - Detailed
, To be able to do quantity takeoffs, the estimator must _____________. Choose the
ONE best answer. - Answers - All the answers shown
___________________ is a drawing or information that modifies the basic contract
documents after they have been issued to the bidder, but prior to the taking of bids.
They may provide clarification, correction, or changes in the other documents. Choose
the ONE best answer. - Answers - Addenda
In a _______________ agreement, the contractor agrees to construct the project in
accordance with the contract documents, for a set price arrived at through competitive
bidding or negotiation. The contractor agrees that the work will be satisfactorily
completed regardless of the difficulties encountered. Choose the ONE best answer. -
Answers - Lump-Sum
Agreement Provisions include: Choose the ONE best answer. - Answers - All the
answers shown
The type of bond which guarantees payment on another party's obligations is a
_________ bond. Choose the ONE best answer. - Answers - Surety
The type of bond which guarantees that the contractor will perform all the work in
accordance with the contract documents is a _______ bond. Choose the ONE best
answer. - Answers - Performance
________________ insurance provides benefits for workers injured or killed on the job.
Choose the ONE best answer. - Answers - Worker's Compensation
Which of the following is not an example of information that should be collected during
the site visit after making a preliminary examination of the drawings and the project
manual : Choose the ONE best answer. - Answers - Local ordinances and regulations
and note any special requirements
A _________ contractor is a separate contractor hired by the prime contractor to
perform certain portions of the work. Choose the ONE best answer. - Answers -
Specialty
The following items should be included in common errors doing estimating: Choose the
ONE best answer. - Answers - A, B, C, and D
Which of the following statements is not true regarding the benefits of computerized
estimating? Choose the ONE best answer. - Answers - Computerized estimating
packages do not allow the estimator to track where the quantities came from.
