Studio 2 - Estimating Exam With 114 Questions and answers Newest Rated A+ 100% VERIFIED

Studio 2 - Estimating Exam With 114 Questions
and answers Newest Rated A+ 100% VERIFIED
This provides the general contractor an acceptable rate of return and compensation for the risk
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associated with the project. Choose the ONE best answer. - Correct Answers Profit Margin
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Il` A detailed estimate determines the quantity and cost of everything required for the project
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Il` including: Select All that Apply. - Correct Answers Bonds, Insurance, Overhead, Labor, Materials
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Il` Square foot estimates may be adjusted for: Choose the ONE best answer. - Correct Answers
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Il` Building Height Il`




Il` Quantity takeoff skills include: Choose the ONE best answer. - Correct Answers Reading and
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Il` quantifying plans Il`




Il` Types of bids include: Choose the ONE best answer. - Correct Answers Competitive and
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Il` Negotiated bids Il`




Il` Contract documents include: Choose the ONE best answer. - Correct Answers Technical
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Il` specifications and drawings Il` Il`




Il` The best source of estimating information is: Choose the ONE best answer. - Correct Answers
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Il` Historical Data Il`




Il` Types of Agreements include: Select All that Apply. - Correct Answers Lump Sum, Unit-Price,
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Il` Cost-Plus-Fee



Il` Agreement Provisions include: Choose the ONE best answer. - Correct Answers All the answers
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Il` shown

, Il` The type of bond which guarantees payment on another party's obligations is a _________ bond.
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Il` Choose the ONE best answer. - Correct Answers Surety
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Il` The type of bond which guarantees that the contractor will perform all the work in accordance
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Il` with the contract documents is a _______ bond. Choose the ONE best answer. - Correct Answers
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Performance
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Il` ________________ insurance provides benefits for workers injured or killed on the job. Choose Il` Il` Il` Il` Il` Il` Il` Il` Il` Il` Il` Il`




Il` the ONE best answer. - Correct Answers Worker's Compensation
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Il` Real property includes: Choose the ONE best answer. - Correct Answers All the answers shown
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Il` Instruction to bidders include which procedures: Choose the ONE best answer. - Correct Answers
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All the answers shown
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Il` Which of the following statement is correct? Choose the ONE best answer. - Correct Answers
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Il` The advantage of the percentage fee is that it allows the owner to save fees paid to the contractor
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Il` when construction costs go down.
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Il` Document ________ should be brought to the attention of the architect or engineer. Choose the
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Il` ONE best answer. - Correct Answers Errors
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Il` The required level of accuracy coupled with the amount of information about the project that is
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Il` available will dictate the type of estimate that can be prepared. Which of the following is a correct
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Il` order for estimating methods from lower to higher accuracy and time to complete? Choose the
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Il` ONE best answer. - Correct Answers Project Comparison - Square Foot - Parametric - Model -
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Il` Assembly - Detailed Il` Il`