Page 1 of 13
ESTIMATING TEST 1 REVIEW QUESTIONS WITH
VERIFIED ANSWERS
>> The comprehensive documentation, associated calculations, references and backup used to
determine the expected cost of materials, labor, subcontractors, equipment, profit and
overhead for a proposed construction project.
- correct answer- Estimating
>> The act of quantifying materials and assigning the resources, and associated pricing, to all
work items (tasks) on a construction project.
- correct answer- Estimating
>> An educated guess which affects the cost of the work you are pricing.
- correct answer- Assumptions
>> Provided to back up your assumptions. Explain the reason or thug precess behind your
assumptions and identify what you have priced.
- correct answer- Justifications
>> A cost estimate, typically submitted to the project Owner, which consists of direct
construction costs including field supervision, plus markup to cover general overhead and profit.
- correct answer- Bid
>> Money added to a project to account for items that are difficult to identify/quantify at the
time the base estimate is prepared.
- correct answer- Contingency
, Page 2 of 13
>> A formal question (typically from a contractor) submitted in writing to the design team to
clarify and provide direction concerning the the contract documents.
- correct answer- Request for Information (RFI)
>> A formal written request (typically from an Owner, to Contractor) for pricing of a proposed
project. Typically inclusive of a project scope of work.
- correct answer- Request for Proposal (RFP)
>> A change in construction methods or design directed by the design team during bidding,
before a contract has been awarded.
- correct answer- Addendum
>> __ are priced by all competing contractors and the costs are included in the bid price.
- correct answer- Addenda
>> A change in construction methods or rising methods or design directed by the design team,
after a contract has been awarded.
- correct answer- Change order
>> __ are priced by the contractor who has been awarded the contract. Costs are negotiated
and added to the current contract price.
- correct answer- Change orders
>> Generally, a single "piece" of whatever we are quantifying or pricing.
Ex. CY, SF, etc.
- correct answer- Unit
ESTIMATING TEST 1 REVIEW QUESTIONS WITH
VERIFIED ANSWERS
>> The comprehensive documentation, associated calculations, references and backup used to
determine the expected cost of materials, labor, subcontractors, equipment, profit and
overhead for a proposed construction project.
- correct answer- Estimating
>> The act of quantifying materials and assigning the resources, and associated pricing, to all
work items (tasks) on a construction project.
- correct answer- Estimating
>> An educated guess which affects the cost of the work you are pricing.
- correct answer- Assumptions
>> Provided to back up your assumptions. Explain the reason or thug precess behind your
assumptions and identify what you have priced.
- correct answer- Justifications
>> A cost estimate, typically submitted to the project Owner, which consists of direct
construction costs including field supervision, plus markup to cover general overhead and profit.
- correct answer- Bid
>> Money added to a project to account for items that are difficult to identify/quantify at the
time the base estimate is prepared.
- correct answer- Contingency
, Page 2 of 13
>> A formal question (typically from a contractor) submitted in writing to the design team to
clarify and provide direction concerning the the contract documents.
- correct answer- Request for Information (RFI)
>> A formal written request (typically from an Owner, to Contractor) for pricing of a proposed
project. Typically inclusive of a project scope of work.
- correct answer- Request for Proposal (RFP)
>> A change in construction methods or design directed by the design team during bidding,
before a contract has been awarded.
- correct answer- Addendum
>> __ are priced by all competing contractors and the costs are included in the bid price.
- correct answer- Addenda
>> A change in construction methods or rising methods or design directed by the design team,
after a contract has been awarded.
- correct answer- Change order
>> __ are priced by the contractor who has been awarded the contract. Costs are negotiated
and added to the current contract price.
- correct answer- Change orders
>> Generally, a single "piece" of whatever we are quantifying or pricing.
Ex. CY, SF, etc.
- correct answer- Unit
