ANSWERS 100% CORRECT!
Preparing a bid request includes which of the following:
A. Verifying References.
B. Identifying potential contractors.
C. Recommending a contractor to the board.
D. Verifying contractor insurance. - ANSWER B
Legal review prior to executing a contract will assist the association in the event that:
A. A subcontractor is used.
B. A performance bond is required.
C. There is a budgetary shortfall.
D. The board has questions or concerns. - ANSWER D
Rather than describing the scope of work in detail in the contract, a manager may:
A. Attach the bid specifications.
B. Call each contractor to describe the job.
C. Be on-site to oversee project content.
D. Suggest the board meet the contractor to talk about the scope of work. - ANSWER A
In older condominiums, an association should have what type of contract covering
mechanical equipment?
A. Time and materials
B. Specific repair
C.Service
D. Preventative maintenance - ANSWER D
For which project would a board most likely want to use a consultant to help develop bid
specifications?
A.Landscape renovation project
B. Repairing and/or replacing roofs
C. Painting the interior of lobbies and hallways
D. Repairing HVAC and boilers - ANSWER B
In what type of contract would a waiver of lien be recommended?
A. Repair of the HVAC system
B.Re-roofing the buildings