CM 4211 need to Study Questions Solved
100% Correct | Verified Solutions
Which of the following statements is true?
Select one:
a. In a cost-plus-incentive-fee (CPIF) contract the contractor can lose money.
b. In a guaranteed-maximum-price (GMP) contract the contractor can never
lose money.
c. A fixed price contract holds more risk for the owner than a cost-plus contract.
d. A schedule-of-items contract is a type of cost-plus-incentive-fee contract. - ✔✔In a
cost-plus-incentive-fee (CPIF) contract the contractor can lose money.
Which of the following statements is true?
Select one:
a. Standard form contracts are used because they contain provisions deemed to be
fair to the parties.
b. The four most important things that should be in an advertisement (for a
construction project) are (1) project identification, (2) contractor identification,
(3) time and place for the bid opening, and (4) instructions how to get the
bid documents.
c. The completed "bid form" is the contract in a construction project.
d. In an AIA standard form contract, if there is any bias it is in favor of the
contractor. - ✔✔Standard form contracts are used because they contain provisions
deemed to be
fair to the parties.
,Which of the following statements is true?
Select one:
a. Whether a project will require union labor or not is something that will be
found in the general conditions.
b. Bid forms may require information about the contractor's work history and
financial strength.
c. The bid form itself is drafted and completed by the contractor
d. Instructions to Bidders is where prospective bidders find out how to get to the
owner's office to pick up the bid documents. - ✔✔Bid forms may require information
about the contractor's work history and
financial strength.
Which of the following statements is true?
Select one:
a. The five threshold red flag construction contract clauses are (1) dispute resolution,
(2) changes, (3) differing site conditions, (4) payments and progress payments,
and (5) terminations and partial terminations.
b. The contractor does not need to inspect the site prior to submitting a bid
unless the bid documents expressly require such an inspection.
c. The changes clause usually gives the owner the unilateral right to make
changes to the contract.
d. Supplementary conditions supplement the general conditions and usually remain
the same from contract to contract - ✔✔
Which of the following statements is true?
Select one:
a. . If the contract contains a "no-damages-for-delay" clause, the contractor will not
, be entitled to either a time adjustment nor a cost adjustment in the contract caused by a delay.
b. Contractors prefer a contract to have a narrow list of excusable delays.
c. In the dispute resolution clause of a private project contract, it is important to know
whether or not sovereign immunity has been waived.
d. If a contract has no differing site conditions clause, then the contractor is responsible for the
costs if conditions are encountered that are more costly to
overcome. - ✔✔If a contract has no differing site conditions clause, then the contractor
is responsible for the costs if conditions are encountered that are more costly to
overcome.
Which of the following statements is true?
Select one:
a. "Liquidated damages" are assessed based on the actual damages suffered by the
owner.
b. The time provisions in a construction contract are usually measured in work days.
c. The owner usually has the unilateral right to terminate a construction contract.
d. A contractor cannot be assessed damages for missing milestone completion dates
provided that he completes the entire contract timely. - ✔✔The owner usually has
the unilateral right to terminate a construction contract.
Which of the following statements is NOT true?
Select one:
a. There is no implied obligation for the owner to provide access to the construction
site
b. A default termination by the owner may be justified if the contractor is doing
unsatisfactory work.
c. "Liquidated damages" is the amount per day that a contractor owes for
completing the contract late
100% Correct | Verified Solutions
Which of the following statements is true?
Select one:
a. In a cost-plus-incentive-fee (CPIF) contract the contractor can lose money.
b. In a guaranteed-maximum-price (GMP) contract the contractor can never
lose money.
c. A fixed price contract holds more risk for the owner than a cost-plus contract.
d. A schedule-of-items contract is a type of cost-plus-incentive-fee contract. - ✔✔In a
cost-plus-incentive-fee (CPIF) contract the contractor can lose money.
Which of the following statements is true?
Select one:
a. Standard form contracts are used because they contain provisions deemed to be
fair to the parties.
b. The four most important things that should be in an advertisement (for a
construction project) are (1) project identification, (2) contractor identification,
(3) time and place for the bid opening, and (4) instructions how to get the
bid documents.
c. The completed "bid form" is the contract in a construction project.
d. In an AIA standard form contract, if there is any bias it is in favor of the
contractor. - ✔✔Standard form contracts are used because they contain provisions
deemed to be
fair to the parties.
,Which of the following statements is true?
Select one:
a. Whether a project will require union labor or not is something that will be
found in the general conditions.
b. Bid forms may require information about the contractor's work history and
financial strength.
c. The bid form itself is drafted and completed by the contractor
d. Instructions to Bidders is where prospective bidders find out how to get to the
owner's office to pick up the bid documents. - ✔✔Bid forms may require information
about the contractor's work history and
financial strength.
Which of the following statements is true?
Select one:
a. The five threshold red flag construction contract clauses are (1) dispute resolution,
(2) changes, (3) differing site conditions, (4) payments and progress payments,
and (5) terminations and partial terminations.
b. The contractor does not need to inspect the site prior to submitting a bid
unless the bid documents expressly require such an inspection.
c. The changes clause usually gives the owner the unilateral right to make
changes to the contract.
d. Supplementary conditions supplement the general conditions and usually remain
the same from contract to contract - ✔✔
Which of the following statements is true?
Select one:
a. . If the contract contains a "no-damages-for-delay" clause, the contractor will not
, be entitled to either a time adjustment nor a cost adjustment in the contract caused by a delay.
b. Contractors prefer a contract to have a narrow list of excusable delays.
c. In the dispute resolution clause of a private project contract, it is important to know
whether or not sovereign immunity has been waived.
d. If a contract has no differing site conditions clause, then the contractor is responsible for the
costs if conditions are encountered that are more costly to
overcome. - ✔✔If a contract has no differing site conditions clause, then the contractor
is responsible for the costs if conditions are encountered that are more costly to
overcome.
Which of the following statements is true?
Select one:
a. "Liquidated damages" are assessed based on the actual damages suffered by the
owner.
b. The time provisions in a construction contract are usually measured in work days.
c. The owner usually has the unilateral right to terminate a construction contract.
d. A contractor cannot be assessed damages for missing milestone completion dates
provided that he completes the entire contract timely. - ✔✔The owner usually has
the unilateral right to terminate a construction contract.
Which of the following statements is NOT true?
Select one:
a. There is no implied obligation for the owner to provide access to the construction
site
b. A default termination by the owner may be justified if the contractor is doing
unsatisfactory work.
c. "Liquidated damages" is the amount per day that a contractor owes for
completing the contract late
