CMGT COMPREHENSIVE EXAM STUDY
GUIDE TEST PAPER QUESTIONS AND
SOLUTIONS 2026
◉ Multi rate Estimates
Answer: (Conceptual, preliminary CD)
Used to obtain realistic construction costs.
Ability to create trackable budget codes during design.
Complete details not required, simplifies pricing.
◉ Detailed Estimates
Answer: (Final CD)
All quantities determined and price.
Generates coding for tracking costs.
Actual cost analyzed for future estimates.
◉ Types of Estimate Costs
Answer: Direct Cost: Material, Labor, Equipment, Subcontractors.
Indirect Cost: Job site general conditions.
Margin: Margin vs. Profit
Contingency or Allowance: Contingency, Allowance
, ◉ Margin
Answer: Home office overhead: costs include everything necessary
to run the company. Rent, utilities, salaries and labor burden, office
furnishings and equipment, vehicles, return on investments. Every
project has a proportionate share of G&A costs.
◉ Contingency
Answer: Money added to the estimate to cover risks associated with
the un known or as of yet undefined work.
◉ Allowance
Answer: Money added to the estimate to cover the approximate cost
of a known scope of work which can not be quantified at the time of
the bid.
◉ Quantity Take Offs
Answer: Is a methodical process of breaking down a project into
manageable and quantifiable components that are accurate and
auditable.
◉ Open Bid
GUIDE TEST PAPER QUESTIONS AND
SOLUTIONS 2026
◉ Multi rate Estimates
Answer: (Conceptual, preliminary CD)
Used to obtain realistic construction costs.
Ability to create trackable budget codes during design.
Complete details not required, simplifies pricing.
◉ Detailed Estimates
Answer: (Final CD)
All quantities determined and price.
Generates coding for tracking costs.
Actual cost analyzed for future estimates.
◉ Types of Estimate Costs
Answer: Direct Cost: Material, Labor, Equipment, Subcontractors.
Indirect Cost: Job site general conditions.
Margin: Margin vs. Profit
Contingency or Allowance: Contingency, Allowance
, ◉ Margin
Answer: Home office overhead: costs include everything necessary
to run the company. Rent, utilities, salaries and labor burden, office
furnishings and equipment, vehicles, return on investments. Every
project has a proportionate share of G&A costs.
◉ Contingency
Answer: Money added to the estimate to cover risks associated with
the un known or as of yet undefined work.
◉ Allowance
Answer: Money added to the estimate to cover the approximate cost
of a known scope of work which can not be quantified at the time of
the bid.
◉ Quantity Take Offs
Answer: Is a methodical process of breaking down a project into
manageable and quantifiable components that are accurate and
auditable.
◉ Open Bid
