451 Exam 1 Questions And
Answers
T/F If price is part of the final selection criteria and the price is the totla cost of construction is
not 100% the final and sole selection criteria, then delivery method is Best Value: Total Cost -
correct answer False
T/F Some industry participants use the term contract type to mean the basis of reimbursement
and others use the term to refer to the project delivery method. - correct answer True
T/F Basic philosophy of lean construction is centered on the idea of eliminating waste. - correct
answer True
Which Procurement option is defined as "competition where price is a factor in the final
selection criteria?" - correct answer Low Bid
What basis of reimbursement typically used with IPD? - correct answer Target Price or
estimated maximum price
Which procurement method is typically used when selecting an Agent Cm firm? - correct
answer QBS
T/F Agency CM firms may coordinate, receive, and award trade bids and proposals for the
owner. - correct answer True
,T/F Surety bonds such as payment bonds and performance bonds in the const. industry are
considered to be the same as insurance - correct answer False
T/F Case evaluation involves a neutral third party or facilitator that is not empowered to make a
decision on the dispute - correct answer True
Which statement(s) are true regarding prequalifications? - correct answer -May be used in DBB
-May be used in DB
May be used when selecting designer/constructor
- One process for procurement, RFQ/RFP, has it built into the processs
-May be used with IPD
-May be used w/ CM at risk
T/F Lump Sum of Fixed Firm Price are generally open-book with the owner having access to the
contractor's or design-builder's cost related info - correct answer False
Which of the following services may be provided by an Agent CM firm? - correct answer -
Locating temp. facilities for project team members
- Identifying and facilitating long lead item orders
- Coordinate, receive and award trade bids and proposals
- Help Owner obtain permits and gov. approvals
- Help owner obtain consultants
T/F Once the response to the RFP have been received, the owner evaluates them using either a
formulaic approach for a trade-off analysis approach - correct answer True
which of the following is NOT an accelerated procurement approach? - correct answer Owner
In-House Contracting
,T/F Target price is also known as no GMP - correct answer False
T/F Performance specs precisely state how work is to be performed, and describe in detail the
materials to be used and the manner in which work is to be executed. - correct answer False
Retainage usually amounts to what percentage of the contract price. - correct answer 5-10%
T/F Fast-tracking refers to speeding up the procurement of materials through incremented
payments to the supplier/manufacturer over a condensed period of time - correct answer False
T/F When using DB or CM@Risk, design and construction are separate contracts - correct
answer False
T/F A delivery method identifies the primary parties taking contractual responsibility for the
performance of work. - correct answer true
By DEfinition, DBB can be procured with either ____ or _____. - correct answer Low bid, Best
Value Total Cost
Which one of these is not part of TCC? - correct answer Constructor's bonus
T/F GMP is a type of Cost Plus contract - correct answer True
T/F QBS procurement process is defined as competition where price is small factor in final
selection criteria - correct answer Flas
, T/F When a Project Man.''s level of responsibility moves beyond construction of single project,
the manager becomes a program manager - correct answer True
The industry has developed typical ways of compensating contractors for their general costs.
Which of the following is/are Not included in those methods of compensation - correct answer
A pooled contingency between owner and contractor covers general conditions
T/F During the construction phase of a project, an agent cm would typically act as the owner's
onsite repr., which may include an active role ins cheduling and project coordination meetings -
correct answer True
T/F The text states that Engineer-Procured-Construct (EPC) is another term for DB - correct
answer True
The GMP can be set at any time during or after the design process. But, often the GMP is set
near the completion of the development documents, at the end of DEsign development, the
design is _____ complete - correct answer 60-65%
T/F It is advisable to select a management method before locking into a delivery method -
correct answer True
T/F On projects using the target price reimbursement methods, the owner agrees to reimburse
the contractor all the actual direct project costs and the project-specified overhead - correct
answer True
T/F Schematic Design is the stage of design where the scope of a project are determined -
correct answer True
Who were the two ancient master builders or master masons that led construction of the
parthenon athena - correct answer Ictinus and Callicrates
Answers
T/F If price is part of the final selection criteria and the price is the totla cost of construction is
not 100% the final and sole selection criteria, then delivery method is Best Value: Total Cost -
correct answer False
T/F Some industry participants use the term contract type to mean the basis of reimbursement
and others use the term to refer to the project delivery method. - correct answer True
T/F Basic philosophy of lean construction is centered on the idea of eliminating waste. - correct
answer True
Which Procurement option is defined as "competition where price is a factor in the final
selection criteria?" - correct answer Low Bid
What basis of reimbursement typically used with IPD? - correct answer Target Price or
estimated maximum price
Which procurement method is typically used when selecting an Agent Cm firm? - correct
answer QBS
T/F Agency CM firms may coordinate, receive, and award trade bids and proposals for the
owner. - correct answer True
,T/F Surety bonds such as payment bonds and performance bonds in the const. industry are
considered to be the same as insurance - correct answer False
T/F Case evaluation involves a neutral third party or facilitator that is not empowered to make a
decision on the dispute - correct answer True
Which statement(s) are true regarding prequalifications? - correct answer -May be used in DBB
-May be used in DB
May be used when selecting designer/constructor
- One process for procurement, RFQ/RFP, has it built into the processs
-May be used with IPD
-May be used w/ CM at risk
T/F Lump Sum of Fixed Firm Price are generally open-book with the owner having access to the
contractor's or design-builder's cost related info - correct answer False
Which of the following services may be provided by an Agent CM firm? - correct answer -
Locating temp. facilities for project team members
- Identifying and facilitating long lead item orders
- Coordinate, receive and award trade bids and proposals
- Help Owner obtain permits and gov. approvals
- Help owner obtain consultants
T/F Once the response to the RFP have been received, the owner evaluates them using either a
formulaic approach for a trade-off analysis approach - correct answer True
which of the following is NOT an accelerated procurement approach? - correct answer Owner
In-House Contracting
,T/F Target price is also known as no GMP - correct answer False
T/F Performance specs precisely state how work is to be performed, and describe in detail the
materials to be used and the manner in which work is to be executed. - correct answer False
Retainage usually amounts to what percentage of the contract price. - correct answer 5-10%
T/F Fast-tracking refers to speeding up the procurement of materials through incremented
payments to the supplier/manufacturer over a condensed period of time - correct answer False
T/F When using DB or CM@Risk, design and construction are separate contracts - correct
answer False
T/F A delivery method identifies the primary parties taking contractual responsibility for the
performance of work. - correct answer true
By DEfinition, DBB can be procured with either ____ or _____. - correct answer Low bid, Best
Value Total Cost
Which one of these is not part of TCC? - correct answer Constructor's bonus
T/F GMP is a type of Cost Plus contract - correct answer True
T/F QBS procurement process is defined as competition where price is small factor in final
selection criteria - correct answer Flas
, T/F When a Project Man.''s level of responsibility moves beyond construction of single project,
the manager becomes a program manager - correct answer True
The industry has developed typical ways of compensating contractors for their general costs.
Which of the following is/are Not included in those methods of compensation - correct answer
A pooled contingency between owner and contractor covers general conditions
T/F During the construction phase of a project, an agent cm would typically act as the owner's
onsite repr., which may include an active role ins cheduling and project coordination meetings -
correct answer True
T/F The text states that Engineer-Procured-Construct (EPC) is another term for DB - correct
answer True
The GMP can be set at any time during or after the design process. But, often the GMP is set
near the completion of the development documents, at the end of DEsign development, the
design is _____ complete - correct answer 60-65%
T/F It is advisable to select a management method before locking into a delivery method -
correct answer True
T/F On projects using the target price reimbursement methods, the owner agrees to reimburse
the contractor all the actual direct project costs and the project-specified overhead - correct
answer True
T/F Schematic Design is the stage of design where the scope of a project are determined -
correct answer True
Who were the two ancient master builders or master masons that led construction of the
parthenon athena - correct answer Ictinus and Callicrates
