CEPS Exam 1 UPDATED ACTUAL
QUESTIONS AND CORRECT ANSWERS
To succeed in the construction industry ... - CORRECT ANSWER Cost
Time
Quality
Safety
Scope
Function
Relationship
Contractor's Estimator - CORRECT ANSWER a) Determine actual cost of project
for bidding purposes.
b) Familiar with company's detailed
cost data of labor and material.
c) Familiar with construction
method to be used.
d) Knowledge of materials suppliers
and the corresponding discounts
they offer.
Engineer's Estimator - CORRECT ANSWER a) Determine specialty cost, e.g.
plumbing, electrical, etc.
b) Familiar with specialty labor rate
and materials of the company.
c) Familiar with specialty
installation methods.
d) Knowledge of specialty
contractor material and tools.
, Purpose of Estimating - CORRECT ANSWER Ability to forecast cost required to complete
project in accordance to plan
and specifications.
Ability to reasonably provide accurate direct cost for materials, labor, and
equipment.
Ability to develop a bid price by adding the direct cost to indirect cost
(overhead, contingencies, and profit.)
Ability to determine the probable real cost and the probable real time.
Conceptual Estimate - CORRECT ANSWER Produced from the description of what the
owner would like to build
No drawings/specs available
Feasibility Study
Using "some" unit of measurement
➢e.g., Cost per bed in a hospital project
About ± 20% - 30% of accuracy
Preliminary Estimate - CORRECT ANSWER Produced from a preliminary set of drawings
with overall dimensions
5%~40% of the drawings
Typically prepared by the architect or
architect/engineer to reflect expected cost, and
QUESTIONS AND CORRECT ANSWERS
To succeed in the construction industry ... - CORRECT ANSWER Cost
Time
Quality
Safety
Scope
Function
Relationship
Contractor's Estimator - CORRECT ANSWER a) Determine actual cost of project
for bidding purposes.
b) Familiar with company's detailed
cost data of labor and material.
c) Familiar with construction
method to be used.
d) Knowledge of materials suppliers
and the corresponding discounts
they offer.
Engineer's Estimator - CORRECT ANSWER a) Determine specialty cost, e.g.
plumbing, electrical, etc.
b) Familiar with specialty labor rate
and materials of the company.
c) Familiar with specialty
installation methods.
d) Knowledge of specialty
contractor material and tools.
, Purpose of Estimating - CORRECT ANSWER Ability to forecast cost required to complete
project in accordance to plan
and specifications.
Ability to reasonably provide accurate direct cost for materials, labor, and
equipment.
Ability to develop a bid price by adding the direct cost to indirect cost
(overhead, contingencies, and profit.)
Ability to determine the probable real cost and the probable real time.
Conceptual Estimate - CORRECT ANSWER Produced from the description of what the
owner would like to build
No drawings/specs available
Feasibility Study
Using "some" unit of measurement
➢e.g., Cost per bed in a hospital project
About ± 20% - 30% of accuracy
Preliminary Estimate - CORRECT ANSWER Produced from a preliminary set of drawings
with overall dimensions
5%~40% of the drawings
Typically prepared by the architect or
architect/engineer to reflect expected cost, and
