CM 4221 Final Exam Test Questions and Answers Graded A+
Which of the following is not a method used to
procure a constructor? True
False - ANSWERS - True
Select one:
a. None of these
b. Best value Based on laws and regulations, privately financed
c. Job order contracting projects must utilize competitive bidding to
d. Low bid procure a construction firm.
e. Qualifications-based selection -
ANSWERS - c. Job order contracting Select one:
True
False - ANSWERS- False
Which management activity listed below is where
the project manager is tasked with coordinating
subcontractors, planning sequences of An agency construction manager firm is
construction, and developing effective contracted with the Owner, lead designer, and
communication? construction firm on a project.
Select one: Select one:
a. None of these True
b. Controlling False - ANSWERS - false
c. Organizing
d. Scoping
e. Planning - ANSWERS - c. organizing A program manager is the same as a project
manager.
This testing process helps to reduce the risk that Select one:
major project systems (HVAC, electrical, etc) will True
work according to the project objectives, plans, False - ANSWERS - false
and specifications.
Select one: During the early stages of the engineering and
a. Commissioning design phase of a project, the Owner typically
b. As-builts procures the lead design firm using qualifications-
c. None of these based selection.
d. Notice to Proceed
e. Constructability review - ANSWERS - a. Select one:
commisioning True
False - ANSWERS - true
Vertical building projects are first designed by an
architect and then engineered by design What is the definition of a project delivery
engineers while horizontal infrastructure projects system?
are typically designed and engineered by design
engineers Select one:
, CM 4221 Final Exam Test Questions and Answers Graded A+
a. The process by which the feasibility of a and less depreciation in later years
project is determined
b. None of these Select one:
c. The contractual relationships that exist True
between project team members False - ANSWERS - False
d. The method of procuring a constructor to build
a project
e. The techniques and processes used for The only revenue recognition method acceptable
constructing a project - ANSWERS - c. The for financial statement use for construction
contractual relationships that exist between companies is:
project team members
Select one:
a. Straight accrual
Which of the following delivery methods is the b. Complete contract
most used method in construction today? c. Percentage of completion
d. Cash
Select one: e. None of these - ANSWERS - c.
a. Design-Bid-Build Percentage of completion
b. Design-Build
c. Construction Manager at-Risk
d. Multi-prime Contracting A firm's working capital will increase when:
e. None of these - ANSWERS - a. Design-
Bid-Build Select one:
a. The firm purchases equipment
b. The firm sells equipment
The quick ratio is calculated by adding all cash c. The firm pays off long term debt
and receivables and dividing that value by the d. None of these
total current liabilities for a company. e. The firm loses money on a job -
ANSWERS - b. The firm sells equipment
Select one:
True
False - ANSWERS - True What is retainage?
Select one:
Current liabilities can be converted into cash a. None of these
within one year to pay off debt b. An amount of money that a contractor charges
for overhead and profit to the Owner
Select one: c. A contractor fee used to retain a contractor for
True as long as the Owner needs work performed
False - ANSWERS - False d. An amount of money that an Owner provides
to a contractor at the beginning of the project to
help finance the initial work
The straight line method of depreciation is a e. An amount of money that the Owner holds
series of depreciation methods that calculates from every pay app to ensure the contractor
more depreciation in the early years of an asset continues the work as business as usual -
Which of the following is not a method used to
procure a constructor? True
False - ANSWERS - True
Select one:
a. None of these
b. Best value Based on laws and regulations, privately financed
c. Job order contracting projects must utilize competitive bidding to
d. Low bid procure a construction firm.
e. Qualifications-based selection -
ANSWERS - c. Job order contracting Select one:
True
False - ANSWERS- False
Which management activity listed below is where
the project manager is tasked with coordinating
subcontractors, planning sequences of An agency construction manager firm is
construction, and developing effective contracted with the Owner, lead designer, and
communication? construction firm on a project.
Select one: Select one:
a. None of these True
b. Controlling False - ANSWERS - false
c. Organizing
d. Scoping
e. Planning - ANSWERS - c. organizing A program manager is the same as a project
manager.
This testing process helps to reduce the risk that Select one:
major project systems (HVAC, electrical, etc) will True
work according to the project objectives, plans, False - ANSWERS - false
and specifications.
Select one: During the early stages of the engineering and
a. Commissioning design phase of a project, the Owner typically
b. As-builts procures the lead design firm using qualifications-
c. None of these based selection.
d. Notice to Proceed
e. Constructability review - ANSWERS - a. Select one:
commisioning True
False - ANSWERS - true
Vertical building projects are first designed by an
architect and then engineered by design What is the definition of a project delivery
engineers while horizontal infrastructure projects system?
are typically designed and engineered by design
engineers Select one:
, CM 4221 Final Exam Test Questions and Answers Graded A+
a. The process by which the feasibility of a and less depreciation in later years
project is determined
b. None of these Select one:
c. The contractual relationships that exist True
between project team members False - ANSWERS - False
d. The method of procuring a constructor to build
a project
e. The techniques and processes used for The only revenue recognition method acceptable
constructing a project - ANSWERS - c. The for financial statement use for construction
contractual relationships that exist between companies is:
project team members
Select one:
a. Straight accrual
Which of the following delivery methods is the b. Complete contract
most used method in construction today? c. Percentage of completion
d. Cash
Select one: e. None of these - ANSWERS - c.
a. Design-Bid-Build Percentage of completion
b. Design-Build
c. Construction Manager at-Risk
d. Multi-prime Contracting A firm's working capital will increase when:
e. None of these - ANSWERS - a. Design-
Bid-Build Select one:
a. The firm purchases equipment
b. The firm sells equipment
The quick ratio is calculated by adding all cash c. The firm pays off long term debt
and receivables and dividing that value by the d. None of these
total current liabilities for a company. e. The firm loses money on a job -
ANSWERS - b. The firm sells equipment
Select one:
True
False - ANSWERS - True What is retainage?
Select one:
Current liabilities can be converted into cash a. None of these
within one year to pay off debt b. An amount of money that a contractor charges
for overhead and profit to the Owner
Select one: c. A contractor fee used to retain a contractor for
True as long as the Owner needs work performed
False - ANSWERS - False d. An amount of money that an Owner provides
to a contractor at the beginning of the project to
help finance the initial work
The straight line method of depreciation is a e. An amount of money that the Owner holds
series of depreciation methods that calculates from every pay app to ensure the contractor
more depreciation in the early years of an asset continues the work as business as usual -
