1
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CON 367 exam 2 Questions and Answers
(100% Correct Answers) Already Graded
A+
What happens if a bid is identified to be nonresponsive during the
bid opening stage of a public project? [ Ans: ] It is recorded and
immediately rejected
In the tripartite relationship inherent in construction bonding
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between the Owner, Contractor, and Surety, which one is the
Obligee? [ Ans: ] Owner
Preconstruction meeting is typically held after the construction
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operations begin. [ Ans: ] False
What term refers to the allocation of markup (overhead and
profit) to the schedule of values items that will be completed early
in the project? [ Ans: ] Front-Loading
Which of these is the correct order of the 7-step construction
project initiation process that was discussed in the class?
Correct answer: [ Ans: ] prepare the Bid Package, Advertise for
Bids, Manage the Bid Cycle, Bid Opening, Bid Award, Sign
Agreement, Notice to Proceed
Which of the following is a cost associated with mobilization? [
Ans: ] Cost of delivering equipment, materials, and labor to the
site
According to the negotiation method discussed in class (Getting
to Yes), one thing that needs to be done during negotiations is not
to attack each other but to attack the problem. [ Ans: ] True
Which of the following meetings is the one in which the partnering
charter is typically signed in a construction project? [ Ans: ]
Preconstruction Meeting
, 2
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In the tripartite relationship inherent in construction bonding
between the Owner, Contractor, and Surety, which one is the
Principal? [ Ans: ] Contractor
Which of the following statements is wrong for Retainage? [ Ans: ]
etainage is typically 25-30% of each earned fund.
Which of the following statements is true for Retainage? [ Ans: ]
In some cases, the retained amount may be reduced or
eliminated at some point during the project (typically after the
half of the project is completed).
Sometimes the Owner may release retainage early on work that
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was completed early in the project, typically for subcontractors
(e.g. site work).
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Retained funds can be used by the Owner to complete the
project.
Even though the "Differing Site Condition Clause" in a contract
shifts the risk of the unknown or unusual conditions to the Owner,
using such a clause is actually beneficial for the Owner as he/she
will pay for those conditions only when they are actually
encountered. [ Ans: ] True
Which of the following is not a characteristic of Schedule of Values
(SOV)? [ Ans: ] It should be prepared by the Contractor and
submitted to the Owner at the end of the project.
characteristics of Schedule of Values (SOV)? [ Ans: ] Line items in
the SOV are typically determined by the Owner.
The greater the detail in the SOV, the more accurate the estimate
for the progress payments.
The Contractor must prorate overhead and profit on the line items
in the SOV.
For Expert help and assignment solutions, +254707240657
CON 367 exam 2 Questions and Answers
(100% Correct Answers) Already Graded
A+
What happens if a bid is identified to be nonresponsive during the
bid opening stage of a public project? [ Ans: ] It is recorded and
immediately rejected
In the tripartite relationship inherent in construction bonding
© 2025 Assignment Expert
between the Owner, Contractor, and Surety, which one is the
Obligee? [ Ans: ] Owner
Preconstruction meeting is typically held after the construction
Guru01 - Stuvia
operations begin. [ Ans: ] False
What term refers to the allocation of markup (overhead and
profit) to the schedule of values items that will be completed early
in the project? [ Ans: ] Front-Loading
Which of these is the correct order of the 7-step construction
project initiation process that was discussed in the class?
Correct answer: [ Ans: ] prepare the Bid Package, Advertise for
Bids, Manage the Bid Cycle, Bid Opening, Bid Award, Sign
Agreement, Notice to Proceed
Which of the following is a cost associated with mobilization? [
Ans: ] Cost of delivering equipment, materials, and labor to the
site
According to the negotiation method discussed in class (Getting
to Yes), one thing that needs to be done during negotiations is not
to attack each other but to attack the problem. [ Ans: ] True
Which of the following meetings is the one in which the partnering
charter is typically signed in a construction project? [ Ans: ]
Preconstruction Meeting
, 2
For Expert help and assignment solutions, +254707240657
In the tripartite relationship inherent in construction bonding
between the Owner, Contractor, and Surety, which one is the
Principal? [ Ans: ] Contractor
Which of the following statements is wrong for Retainage? [ Ans: ]
etainage is typically 25-30% of each earned fund.
Which of the following statements is true for Retainage? [ Ans: ]
In some cases, the retained amount may be reduced or
eliminated at some point during the project (typically after the
half of the project is completed).
Sometimes the Owner may release retainage early on work that
© 2025 Assignment Expert
was completed early in the project, typically for subcontractors
(e.g. site work).
Guru01 - Stuvia
Retained funds can be used by the Owner to complete the
project.
Even though the "Differing Site Condition Clause" in a contract
shifts the risk of the unknown or unusual conditions to the Owner,
using such a clause is actually beneficial for the Owner as he/she
will pay for those conditions only when they are actually
encountered. [ Ans: ] True
Which of the following is not a characteristic of Schedule of Values
(SOV)? [ Ans: ] It should be prepared by the Contractor and
submitted to the Owner at the end of the project.
characteristics of Schedule of Values (SOV)? [ Ans: ] Line items in
the SOV are typically determined by the Owner.
The greater the detail in the SOV, the more accurate the estimate
for the progress payments.
The Contractor must prorate overhead and profit on the line items
in the SOV.
