CNST 2341 Final Exam Questions and
Answers (Latest Update 2026)
3 methods of payment common in the construction industry -
correct answer ✅- Lump sum
- Unit price
- Cost plus
Most common
Lump sum -
correct answer ✅a single payment made at a particular time
Unit Price -
correct answer ✅the cost per unit.
Mostly used between contractor and subcontractor
Cost Plus -
correct answer ✅A contract where payment is for material and
labor, with a profit factor added.
Used when you are uncertain what the price will be.
Renovation
Methods to deliver a project in the construction industry -
correct answer ✅• Design/Bid/Build
,CNST 2341 Final Exam Questions and
Answers (Latest Update 2026)
• Design/Build
• Turn Key
• Construction Management
Design/Bid/Build -
correct answer ✅Most common w/lump sum
Government does this a lot
Example: Building a McDonald's where the owner has the plans
already
Design/Build -
correct answer ✅Something the owner can easily describe
Owner is turning over the design and construction to a company to
design and build
Turn Key -
correct answer ✅Owner is turning over the design and
construction to a company to design and build
Construction Management -
correct answer ✅Collaborative
, CNST 2341 Final Exam Questions and
Answers (Latest Update 2026)
At risk means there is a maximum price to the owner
Owner wants the contractor and architect to work to together
Fast track work. Begin construction before the design is complete
Owner is involved
Example: Building a McDonald's for the first time.
Joint -
correct answer ✅A contract in which a number of individuals are
represented as one party and forgiveness of any individual by the
plaintiff implies forgiveness of the rest of the individuals making
that party.
Several -
correct answer ✅A contract in which a number of individuals are
represented as one party but forgiveness of any individual by the
plaintiff does not imply forgiveness of the rest of the individuals
making that party...plaintiff can select and choose.
Contract -
correct answer ✅A contract is an agreement to do or not to do
certain thing
Answers (Latest Update 2026)
3 methods of payment common in the construction industry -
correct answer ✅- Lump sum
- Unit price
- Cost plus
Most common
Lump sum -
correct answer ✅a single payment made at a particular time
Unit Price -
correct answer ✅the cost per unit.
Mostly used between contractor and subcontractor
Cost Plus -
correct answer ✅A contract where payment is for material and
labor, with a profit factor added.
Used when you are uncertain what the price will be.
Renovation
Methods to deliver a project in the construction industry -
correct answer ✅• Design/Bid/Build
,CNST 2341 Final Exam Questions and
Answers (Latest Update 2026)
• Design/Build
• Turn Key
• Construction Management
Design/Bid/Build -
correct answer ✅Most common w/lump sum
Government does this a lot
Example: Building a McDonald's where the owner has the plans
already
Design/Build -
correct answer ✅Something the owner can easily describe
Owner is turning over the design and construction to a company to
design and build
Turn Key -
correct answer ✅Owner is turning over the design and
construction to a company to design and build
Construction Management -
correct answer ✅Collaborative
, CNST 2341 Final Exam Questions and
Answers (Latest Update 2026)
At risk means there is a maximum price to the owner
Owner wants the contractor and architect to work to together
Fast track work. Begin construction before the design is complete
Owner is involved
Example: Building a McDonald's for the first time.
Joint -
correct answer ✅A contract in which a number of individuals are
represented as one party and forgiveness of any individual by the
plaintiff implies forgiveness of the rest of the individuals making
that party.
Several -
correct answer ✅A contract in which a number of individuals are
represented as one party but forgiveness of any individual by the
plaintiff does not imply forgiveness of the rest of the individuals
making that party...plaintiff can select and choose.
Contract -
correct answer ✅A contract is an agreement to do or not to do
certain thing
