1
STUDIO 2 - ESTIMATING EXAM | 114 QUESTIONS
| WITH COMPLETE SOLUTIONS/NEWEST UPDATE
for a Specific Exam Mail
This provides the general contractor an acceptable rate of return and
compensation for the risk associated with the project. Choose the ONE best
answer.
Ans: Profit Margin
A detailed estimate determines the quantity and cost of everything required
for the project including: Select All that Apply.
Ans: Bonds, Insurance, Overhead, Labor, Materials
Square foot estimates may be adjusted for: Choose the ONE best answer.
Ans: Building Height
Quantity takeoff skills include: Choose the ONE best answer.
Ans: Reading and quantifying plans
Types of bids include: Choose the ONE best answer.
Ans: Competitive and Negotiated bids
Contract documents include: Choose the ONE best answer.
Ans: Technical specifications and drawings
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,2
The best source of estimating information is: Choose the ONE best answer.
Ans: Historical Data
Types of Agreements include: Select All that Apply.
Ans: Lump Sum, Unit-Price, Cost-Plus-Fee
Agreement Provisions include: Choose the ONE best answer.
Ans: All the answers shown
The type of bond which guarantees payment on another party's obligations
is a _________ bond. Choose the ONE best answer.
Ans: 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.
Ans: Performance
________________ insurance provides benefits for workers injured or killed on
the job. Choose the ONE best answer.
Ans: Worker's Compensation
Real property includes: Choose the ONE best answer.
Ans: All the answers shown
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, 3
Instruction to bidders include which procedures: Choose the ONE best
answer.
Ans: All the answers shown
Which of the following statement is correct? Choose the ONE best answer.
Ans: 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.
Ans: 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.
Ans: Project Comparison - Square Foot - Parametric - Model - Assembly -
Detailed
To be able to do quantity takeoffs, the estimator must _____________. Choose
the ONE best answer.
Ans: 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
Pretest - Stuvia US
STUDIO 2 - ESTIMATING EXAM | 114 QUESTIONS
| WITH COMPLETE SOLUTIONS/NEWEST UPDATE
for a Specific Exam Mail
This provides the general contractor an acceptable rate of return and
compensation for the risk associated with the project. Choose the ONE best
answer.
Ans: Profit Margin
A detailed estimate determines the quantity and cost of everything required
for the project including: Select All that Apply.
Ans: Bonds, Insurance, Overhead, Labor, Materials
Square foot estimates may be adjusted for: Choose the ONE best answer.
Ans: Building Height
Quantity takeoff skills include: Choose the ONE best answer.
Ans: Reading and quantifying plans
Types of bids include: Choose the ONE best answer.
Ans: Competitive and Negotiated bids
Contract documents include: Choose the ONE best answer.
Ans: Technical specifications and drawings
Pretest - Stuvia US
,2
The best source of estimating information is: Choose the ONE best answer.
Ans: Historical Data
Types of Agreements include: Select All that Apply.
Ans: Lump Sum, Unit-Price, Cost-Plus-Fee
Agreement Provisions include: Choose the ONE best answer.
Ans: All the answers shown
The type of bond which guarantees payment on another party's obligations
is a _________ bond. Choose the ONE best answer.
Ans: 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.
Ans: Performance
________________ insurance provides benefits for workers injured or killed on
the job. Choose the ONE best answer.
Ans: Worker's Compensation
Real property includes: Choose the ONE best answer.
Ans: All the answers shown
Pretest - Stuvia US
, 3
Instruction to bidders include which procedures: Choose the ONE best
answer.
Ans: All the answers shown
Which of the following statement is correct? Choose the ONE best answer.
Ans: 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.
Ans: 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.
Ans: Project Comparison - Square Foot - Parametric - Model - Assembly -
Detailed
To be able to do quantity takeoffs, the estimator must _____________. Choose
the ONE best answer.
Ans: 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
Pretest - Stuvia US
