Final Estimates Level 2| Exam Questions Solved
100% Correct | Verified Solutions
Why is it important to run a progress estimate soon after Final Acceptance? - ✔✔So
the estimate can be paid through EED quickly to prevent interest.
On Financial Project No.000101-1-52-01, which is a conventional project, the notice to
proceed is dated December 1, 2015 and the contract time is to start 16 days after the
Notice to Proceed per the contract. The Contractor begins work on December 18, 2015
and the project is Final Accepted on December 31, 2015. There are no added weather or
other reasons. What is the 1st chargeable day and how many total days should be
recorded in the Contract Time File? - ✔✔12/17/2015 with 15 chargeable days.
On Lump Sum Contracts, upon Final Acceptance, the Project Administrator will send? -
✔✔The Offer of Final Payment
Field Records for multiple jobs, same contract, should be kept? - ✔✔In seperate Field
Books & In seperate files within Project Solve and EDMS
On Lump Sum Project, A Superpave Asphalt Course item requires a Composite Pay
Factor (CPF) adjustment. What is the total dollar adjustment amount?
Lot 1 with 2000 Tons and a CPF of 0.99
Lot 2 with 4000 Tons and CPF of 0.99
Lot 3 with 4000 Tons and CPF of 1.00
Lot 4 with 4000 Tons and a CPF of 1.00 - ✔✔$5425.20
Under the current Specifications for Lump Sum Projects, the Project Administrator will
approve and pay the Final Estimate? - ✔✔False
, Original Terrain line sections: - ✔✔A)Represent the terrain prior to Contruction
B) Are necessary to establish earthwork quantities
C) Must be shown on cross sections.
ALL OF THE ABOVE
The plans show the designer calculations for Clearing & Grubbing with a total of 3.2
Acres to be cleared and grubbed. During the Construction, a plan error was encountered
which required the clearing and grubbing of an additional 800 SY. This required an
adjustment to the original Lump Sum Pay Item. Calculate the adjusted Final Pay
Quantity. The secondary unit is in Acres not SY. Note 1 Acre= 4840 SY:
Pay Item= Clearing and grubbing
Original Quantity = 1.0 Lump Sum - ✔✔3.2 Ac x 4840 SY= 15488 SY
15488 + 800 SY = 16288 SY
16288 SY/15488 SY = 1.052 Lump Sum
The Prime Contractor is required to certify previous payments for? - ✔✔1st tier
Subcontractors and Suppliers
Borrow Excavation is paid for as a? - ✔✔Final Measurement
When should Liquidated Damages be reflected on a progress estimate? -
✔✔(**Begins after Contract time runs out up to the estimate cut off date. Liquidated
Damages are withheld monthly.)
ON SUBSEQUENT PROGRESS REPORTS
Final Measurements are to be documented on which of the following? -
✔✔A)Miscellaneous Forms
100% Correct | Verified Solutions
Why is it important to run a progress estimate soon after Final Acceptance? - ✔✔So
the estimate can be paid through EED quickly to prevent interest.
On Financial Project No.000101-1-52-01, which is a conventional project, the notice to
proceed is dated December 1, 2015 and the contract time is to start 16 days after the
Notice to Proceed per the contract. The Contractor begins work on December 18, 2015
and the project is Final Accepted on December 31, 2015. There are no added weather or
other reasons. What is the 1st chargeable day and how many total days should be
recorded in the Contract Time File? - ✔✔12/17/2015 with 15 chargeable days.
On Lump Sum Contracts, upon Final Acceptance, the Project Administrator will send? -
✔✔The Offer of Final Payment
Field Records for multiple jobs, same contract, should be kept? - ✔✔In seperate Field
Books & In seperate files within Project Solve and EDMS
On Lump Sum Project, A Superpave Asphalt Course item requires a Composite Pay
Factor (CPF) adjustment. What is the total dollar adjustment amount?
Lot 1 with 2000 Tons and a CPF of 0.99
Lot 2 with 4000 Tons and CPF of 0.99
Lot 3 with 4000 Tons and CPF of 1.00
Lot 4 with 4000 Tons and a CPF of 1.00 - ✔✔$5425.20
Under the current Specifications for Lump Sum Projects, the Project Administrator will
approve and pay the Final Estimate? - ✔✔False
, Original Terrain line sections: - ✔✔A)Represent the terrain prior to Contruction
B) Are necessary to establish earthwork quantities
C) Must be shown on cross sections.
ALL OF THE ABOVE
The plans show the designer calculations for Clearing & Grubbing with a total of 3.2
Acres to be cleared and grubbed. During the Construction, a plan error was encountered
which required the clearing and grubbing of an additional 800 SY. This required an
adjustment to the original Lump Sum Pay Item. Calculate the adjusted Final Pay
Quantity. The secondary unit is in Acres not SY. Note 1 Acre= 4840 SY:
Pay Item= Clearing and grubbing
Original Quantity = 1.0 Lump Sum - ✔✔3.2 Ac x 4840 SY= 15488 SY
15488 + 800 SY = 16288 SY
16288 SY/15488 SY = 1.052 Lump Sum
The Prime Contractor is required to certify previous payments for? - ✔✔1st tier
Subcontractors and Suppliers
Borrow Excavation is paid for as a? - ✔✔Final Measurement
When should Liquidated Damages be reflected on a progress estimate? -
✔✔(**Begins after Contract time runs out up to the estimate cut off date. Liquidated
Damages are withheld monthly.)
ON SUBSEQUENT PROGRESS REPORTS
Final Measurements are to be documented on which of the following? -
✔✔A)Miscellaneous Forms
